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A comment on Zimbabwean Bitcoin Price Soars to $12,400. Parent comment

Re:Zimbabwean Bitcoin Price Soars to $12,400 by dingo_bat on Saturday November 04, 2017 @10:51PM (#15627956)
Think of it like when you want to buy a company's stock. If the price has recently increased by a lot, many people avoid it because they think it is overpriced. They don't want to risk buying it at this price. It has nothing to do with being able to buy fractions of a coin.
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Re:Zimbabwean Bitcoin Price Soars to $12,400 by 6nf on Saturday November 04, 2017 @11:05PM (#15627996)
Why would they specify 'entry level' investors then? That argument would surely apply to all investors, not just the entry level ones.
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Re:Zimbabwean Bitcoin Price Soars to $12,400 by xbmcuser on Saturday November 04, 2017 @11:33PM (#15628069)
Because people that already hold bitcoin will still be willing to buy. If you bought bitcoin at $1000 you might still be willing to buy at $8k as that would still price your avg bitcoin price at $4500 and won't be making a loss until bitcoin drops below $4500. Entry level doesnt mean your wealth but you being a first time buyer or entering into the bitcoin market at current prices. Which means when the price goes down you are going to make a loss.
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Re:Zimbabwean Bitcoin Price Soars to $12,400 by schoen on Sunday November 05, 2017 @12:04AM (#15628139)
It's not formally economically rational to be affected by history this way.

https://en.wikipedia.org/wiki/Sunk_cost

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Re:Zimbabwean Bitcoin Price Soars to $12,400 by oxide on Sunday November 05, 2017 @01:11AM (#15628249)
past performance is no indicator of future results.
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Re:Zimbabwean Bitcoin Price Soars to $12,400 by corporateguy5 on Saturday November 04, 2017 @11:02PM (#15627987)
The price is skyrocketing...
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