I'm not an expert in these stuff and don't claim I'm anywhere near that, I'm just an ordinary person who started to get involved in the digital currency, especially mining, very very recently.
We've heard a lot of skepticism about the Bitcoin in the past year: no owners, no central authority, a bubble, can be used for criminal activities, 'volatile'... and on. And just recently when in a few months last year it climbed so fast everybody was emphasizing on all those aspects altogether.
When the sudden crash in price occurred upon entering the new year, all of those found a new weapon to demonize the digital currency: You see, we told you it's a bubble, to someone actually bragging about the crash with a headline: Bitcoins Bubble Bursts, the end of Bitcoin.
I know that value is created by the basic rule of economy: Offer and Demand. If there's an offer on any commodity the price goes down and as more is offered the price plunges further, if there's a demand then the opposite and so on. As long as there are people willing to Demand Bitcoins and we know the Offers will continue their steady decline, the overall price will rise.
Today I got this in my email delivery from the New York Times:
And I couldn't but wonder, if Bitcoin's price needed too much interference and manipulation to plunge the price after the bullish rise, what is this currency that plunges to a 3 years low over a comment by a single person, whoever he is?!
Call out to all the 'experts' out there to explain this to an ordinary person like me.
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