The psychology part of this argument seems the same as with any commodity, not just Bitcoin.
Maybe Bitcoin would be different if you could put money in but not take it out. But it's actually the reverse now -- it's harder to get Bitcoin out. So wouldn't that tend to increase the selling pressure?
And if you don't want to sell to a sketchy exchange, you can sell to SecondMarket[0] and get a wire transfer to your bank account the same day.
Maybe Bitcoin would be different if you could put money in but not take it out. But it's actually the reverse now -- it's harder to get Bitcoin out. So wouldn't that tend to increase the selling pressure?
And if you don't want to sell to a sketchy exchange, you can sell to SecondMarket[0] and get a wire transfer to your bank account the same day.
https://www.secondmarket.com/education/sell-bitcoin-secondma...