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ciphergoth comments on General Bitcoin discussion thread (June 2011) - Less Wrong Discussion
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66% pullback in price this weekend. This certainly isn't a market for the fainthearted.
My probability distribution looks something like 90% chance of going to 0 and 10% chance of going to multiple hundreds of dollars.
My downside is limited to having paid market price for 2 video cards and a power supply if bitcoins go to zero. My friend just built a mining rig with three cards for around $650. I tried to talk him out of it but the concept of free money seems to override people's ability to make cost benefit analysis.
At its lowest, it hit the price it was at on 7th June, right?
7th June it was around 18 dollars I think. It fell all the way down to 10 dollars before bouncing back.