2013-02-15 forbes.com - Why I'm Not Ready To Sell My Bitcoins

[julz]

Why I'm Not Ready To Sell My Bitcoins

Timothy B. Lee
2013-02-15

http://www.forbes.com/sites/timothylee/2013/02/14/why-i-dont-think-bitcoins-big-price-rise-is-another-bubble/


...
So is the new Bitcoin price rise a bubble? I don’t think so. Nothing like Bitcoin has ever existed before, so it’s not clear how to compute a “fundamental” value for it.
...

But Bitcoin is a sufficiently novel technology, with security and privacy features traditional financial networks can’t match, that it seems likely that people will find something cool to do with it. And when they do, they’ll need to get their hands on a lot of Bitcoins. So I’m not ready to sell mine yet.

[hazek]

Very good article, and surprisingly not written by Jon 

[marcus_of_augustus]

Ha!, Mr. Lee has changed his tune considerably ... and scored himself a gig at Forbes.

(Note to self: remember to send a thank-you to Mr. Forbes.)

[justusranvier]

All of a sudden I just had a flashback to an article by Falkvinge...

[n8rwJeTt8TrrLKPa55eU]

A public admission of error is something not often seen, and praiseworthy.  Hopefully the first of several retractions from people who have unfairly dismissed Bitcoin in past writings.

In August 2011 I predicted that the Bitcoin economy would gradually deflate until it had dwindled away to nothing.

Obviously I was wrong.

[Gabi]

Such a company would have venture capitalists beating down its doors

Footage of venture capitalists going to invest in bitcoin:



 

[grondilu]

Such a company would have venture capitalists beating down its doors

Footage of venture capitalists going to invest in bitcoin:



 

 

[marcus_of_augustus]

shut up and take their money 

we need to lighten their load. 

[kjlimo]

So he's not ready to sell them.  Is he ready to buy them?

[FreeMoney]

The fact that people were still willing to buy after seeing Bitcoins lose 90 percent of their value suggested to me that the currency was likely to have long-term staying power.

I guess I get where he's coming from, but it's sort of silly, and the equivalent statement, "People were still selling them for 90% less than previously" isn't so optimistic sounding.