In this issue:  The sun is rising again.  Yay!
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I just lowered my price a bit.  Interested?

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Microsoft, Dish, Overstock, ...

Many have been wondering why the price of bitcoin has been falling in the face of announcements like Microsoft's, including me.  Well, when large organizations want to buy something, one of their strategies is to hammer on the public perception of that something so as to reduce the value in the eyes of those who already own it.  That's one theory about what's going on.

Another theory is that activity (all kinds of activity, not just trading) tends to slow down in the Winter.  It's true that bitcoin is global, and our Winter is the Summer for all the bitcoiners living on the south half of the planet, but the population of bitcoiners is heavily skewed toward the north, so as our Winter descends upon us, the general effect on bitcoin is a reduction in velocity.  And velocity is one of bitcoin's (sure, and alt-coins') magic qualities, by which I mean to say it is far superior to anything else in the speed of transactions.

Perhaps you can see how this seasonal effect can be used by the powerful financial interests that may have finally decided that bitcoin is something worth serious consideration.

A long conversation between Don and me last night suggested that we dealers do our community a disservice when we decide to stop selling bitcoin just because we think it's going to rise a lot.  We dealers have led customers to depend on us for bitcoin, so if we stop selling, bitcoin is less useful.  Perhaps you can see how this also helps the strategy of the large financial interests who want to drive the price down a lot in order to buy in with as little cost as possible.

So anyway, I just lowered my prices by a percent partly in the self-serving profit motive, and partly in celebration of the passing of the winter solstice which cheers me up every year.

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