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Bitcoin Report Volume 37 (Bitcoin Myths)




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It's not parabolic, it's logarithmic

To see this, simply go to bitcoincharts and set the scale to logarithmic and regardless of time frame, it pretty well matches a flat line trending up. And neither a parabola nor a logarithm ever goes truly vertical. Regardless of the time span of the graph, they both always look like a hockey stick.

More importantly, people like this speaker who look at this only as a get rich quick investment will strongly support it to act as such. If it is to gain any traction as an alternate currency and give the dollar it's due, it should be used like a currency. Excessive trading and predictive forcasting will just lead to futures markets and derivatives and all sorts of bad influence.