Bitcoin Forum

Currently, bitcoins are pretty much consistent. There are ups and downs, but nothing major.

This is good for bitcoin. It tells people that bitcoin is a stable currency. And what this means is that people won't hoard all the coins, and will actually spend them, increasing use of BTC.

Yes.

(waiting for the huge price moves and then the "why did bitcoin skyrocket/crash?" threads)  :D :D :D

Like its been said before (was it you?), once these threads start popping up, its time for some action to happen.  8)

LOL waiting patiently.  :D

Been a slow few weeks. I like it.

It's actually quite impressive seeing it consistently being worth £7 - £8 despite the jumps because this seems to be what it falls down to usually, I'm considering buying a couple of bitcoins to play with and see if I can't grow them at all, I want to see the power of deflationary currencies and compound interest at work :P

People place single wagers for more than all the bitcoins is existence were worth in 2010. Up is the only way for growth and for there to be millions of successful bitcoin businesses.

Stable is better than down though. And a smooth ride up is better than bumpy.

Stable is good but stable with something like Bitcoin leads to going up. People start to trust it more and then they invest in it more and what happens next is that the price rockets.

Saying that stable is good is bullshit.

BTC price depend on how many ppl use it. More ppl use bitcoin, more ppl buy them, price increase
If price is stable then bitcoin use isn't growing. Wich is not good as far as i know.

This said, btc price depend on speculation also, so maybe i am totally wrong  :)

If we can stay at a stable price during the hyperinflation period we are in, that is good and means bitcoin is still growing. At least 3,600 Bitcoins ($45,000 USD) are being bought/saved for the price to be stable each day.

http://blockchain.info/charts/market-cap (http://blockchain.info/charts/market-cap)

Stable means user demand growth is equal to the supply growth.  A slow, steady increase in price implies at least linear growth up to possibly a very slow exponential growth in users since price growth also increases desire to sell among investors.  Of course, this breaks down if we get in another hype cycle because that desire to sell will dry up while the userbase will the userbase expands as a fast exponential.

Indeed if we weren't in a hyperinflationary period then stable price would not be as good. Right now though, even with 25 BTC block reward, a stable price is growth in itself. It also helps boost additional growth because it makes bitcoins more convenient in commerce.

Yup. It's actually a good thing that the price didn't double after the reward halving, it shows that the price is no longer based on mining profits!

It actually did, it was just priced in since 5 months ago. If the reward were to halve tomorrow without anyone knowing, then price will nearly double tomorrow.