Usually comes down faster IMO.
Many companies were accepting Bitcoin without thinking it fully through. One part was for promotional/marketing/novelty aspect, the other part was to save fees, but how many really understood that the Bitcoin market is largely backed by the common man. And when exchange losses rack up in the upcoming days, more and more companies will opt out - further depressing the BTC.
The Lambo company who accepted Bitcoin for the Tesla must be really hitting themselves, they lost 30% literally in a couple of days. You think they are going to keep up with accepting Bitcoins? doubt it.
http://www.wired.com/autopia/2013/12/tesla-bitcoin/
That 1000 BTC's..now worth 72, 500....they lost over 30,000. Lol
Quote:
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Such a car would retail for more than $110,000 new. Although the dealer didn’t say what the Tesla sold for, the Bitcoin buyer would’ve had to shell out around 1,000 units of the virtual currency, assuming the car is new.
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Maybe this transition into the digital currency era will take a tad longer than we all thought