Bitcoin drops by $1000 and no one cares

Source: Foundation for Economic Education
by Jeffrey A Tucker

“Five years ago, the following would have been inconceivable. In a 48-hour period, the dollar/bitcoin exchange ratio dropped fully $1,000. A day later, half the gains came back. In the Bitcoin community, this was hardly discussed at all. Not even the websites and writers specializing in the topic wrote much about it. Hysterical claims that ‘Bitcoin is dead’ were at a minimum. To me, that’s mind blowing. It’s a different world from the one I entered when I received my first bitcoin. A friend tells me he made a fortune when he bought Bitcoin for pennies, and sold it all when it became $2. His thinking: there is no way this digital nothing could be worth twice per unit the value of the world’s strongest currency. He never bought again. Whoops.” (09/07/17)