We’ve written on the hyperdeflation problem before. Basically, with Bitcoin prices surging, nobody wants to buy anything, you just want to hold onto your Bitcoins. Conversely, when they collapse, nobody wants to sell. So volatility means nobody wants to transact in Bitcoins, because there’s a good chance that the next day someone will feel like a fool.Read more »
At 6am this morning, I got an email from one of my sleazier contacts. It simply said "looks like Silk Road has collapsed". I fired the Tor browser you need to connect to the site and, indeed, it wasn't there.Read more »
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