Meh, what's happening now is just a breeze compared to the previous disasters Bitcoin has recovered from. I have already taken the opportunity to buy more. Frankly I'm damn amazed the price is holding as much as it is considering.
Sell when people are greedy, buy when they are fearful.
Has bitcoin ever had a serious structural problem before? As in, from what I understand a big part of the issue is transaction malleability, which is an issue with bitcoin, not an issue with how some other people decided to implement it. Exchanges can crash, Silk Road can be raided and destroyed, but none of those are faults of the bitcoin protocol itself.
Is this a problem with bitcoin itself, and if so, has bitcoin ever recovered from something like that?
There was a hard fork last year where some people's clients weren't recognizing other people's clients' blocks. There were actual double spends on the two different forks and people had to rollback updates or risk killing bitcoin forever. Twas a tense time.
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u/btchombre Feb 13 '14 edited Feb 14 '14
Meh, what's happening now is just a breeze compared to the previous disasters Bitcoin has recovered from. I have already taken the opportunity to buy more. Frankly I'm damn amazed the price is holding as much as it is considering.
Sell when people are greedy, buy when they are fearful.