"Most people are in arrested development and cannot use logic." Jacob.
"Competition and capitalism are hated to-day because of their tendency to destroy poverty and privilege." William Hutt
"America is unique in that our economy is totally dependent on global charity." Peter Schiff

Friday, September 9, 2011

Bitcoin, We Hardly Knew Yeh.

A picture is worth a thousand words. Here are two pictures of what's happening with Bitcoin.

Dropping like a stone.

Or, to be more scientific:

From $30 to $5 in three months. Over at the Mises forum, we were ridiculed for claiming the Mises Regression Theorem proves Bitcoin is doomed. Now I know how Peter Schiff feels.


  1. Another problem with the graph...BTC at $14 today. This story ain't over. It looks like you have some explaining to do.

    1. TY for your comment.

      My blog has moved to smilingdavesblog.wordpress.com

      Look there for an article called Bitcoin All in One Place. Should have the explanation you seek.

      Or you can do a search there for "Ithaca Hour", and the article found will explain.