The price of Bitcoin continues to drop by about a dollar every week to ten days, currently settling at about $2.80 USD, and Bitcoin enthusiasts are starting to get worried.

No surprise here. Bitcoin is acting just as it should if Milton Friedman is right about monetary policy. And he is right, almost every time. But I very much doubt this will settle it. This experiment will have to be redone a few hundred times and great expense to the true believers before 16th century economics goes the way of blood letting and theories of the four humors.

Ahem… - Marginal Revolution