Ideas in this flowchart

• Bitcoin’s early crises shaped its refuge image, price volatility, and perceived reliability.
• The Cypriot banking crisis helped establish bitcoin as a potential refuge from government confiscation.
• Depositors feared that bank accounts could be frozen or reduced.
• Bitcoin’s price rose sharply as confidence in bank deposits weakened.
• Subsequent events created enthusiasm while producing severe price swings.
• U.S. seizures connected to Silk Road increased attention around bitcoin.
• Regulatory attention affected bitcoin’s development and public perception.
• Venture investment supported growing interest in bitcoin.
• Chinese speculation contributed to market activity and price volatility.
• The rise of industrial mining changed the bitcoin ecosystem.
• The collapse of Mt. Gox intensified instability in the bitcoin market.
• These developments generated enthusiasm alongside severe price swings.
• Several events intensified doubts about bitcoin’s reliability.
• The loss of customer bitcoins at Mt. Gox undermined confidence.
• Arrests connected to illicit money transmission increased concerns about bitcoin.
• Chinese restrictions added pressure and uncertainty.
• Proposed regulations intensified doubts about bitcoin’s reliability.