Pale Phoenix
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May 15, 2013, 11:36:12 PM

They can't predict the future. VCs have dropped virtually nil into bitcoin. Complete drop-in-the-bucket, easy exit shit. I don't understand why people think "all this money" is being invested. It isn't. Investing 6 figures, or a few million, is a cheap price to pay if the future turns sour.

I think the point is that there are serious people outside of the Bitcoin community investing, or talking about investing, which for most people, lends an aura of legitimacy and the promise of widespread adoption.

There's no question that VC's make mistakes, in fact, that's part of the business model. But compared to the sophistication of the average investor in the BitcoinTalk securities marketplace, I'd say this new money can rightfully be called smart money.