Re:The World's Biggest Wealth Manager Won't Touch Bitcoin
by Klathmon on Friday November 17, 2017 @02:20PM
(#15725132)
I disagree that everyone would cash out.
There have been crashes of bitcoin before. None "to zero" but pretty substantial, and not everyone "cashes out" right away.
Re:The World's Biggest Wealth Manager Won't Touch Bitcoin
by paulhodge on Friday November 17, 2017 @02:28PM
(#15725209)
Sure you're right, some people would stay invested, some people would even re-invest during the price drop (dead cat bounce).
But the previous crashes weren't caused by any real news of a significant weakness of Bitcoin, so if there was news like that, then the crash would be worse than we've seen.
Whereas with the internet, if someone is able to knock out critical infrastructure one day, engineers would figure out a way to fix/reroute it, get it working a few days later, and everyone would happily log back on as soon as it's working. Although maybe they would throw out their "smart" coffee machines and etc.