Bitcoin Forum

Do you think they're going to rise soon?

I think they might fall soon?

As long as people can speculate and exchangers are unregulated no it won't stabilize soon.
Maybe when every coin has been mined and the bulk of coins aren't controlled by the seekrit bitcoin illuminati

Not sure if it will ever stabilize, but I am sure I can't reliably use Bitcoin for international money transfers until it does. This way it's more of a gamble than money transfer.

Do you mean cuddlefish and his bitcoin-cabal?

https://bitcointalk.org/index.php?topic=9152.0

How long does a transfer take?

I honestly feel nervous keeping even like 100$+ usd in bitcoins in my wallet because of fluctuating prices :S

Then that is too much money for you to keep in bitcoin. For all we know they could become worthless tomorrow. Just buy them as you spend them.

Yeah just wish it was more stable

For all you know your local currency will be worth nothing tomorrow. Since many more people would be inconvenienced and it would lead to social unrest, this is somewhat less likely to happen as suddenly though.

The PM of Malaysia in the 90s insulated his country from foreign speculation which saved them from the economic crisis of the late 90s which destabilized every country around them. When he first suggested it at Davos economic conference they nearly laughed him out of the building then after his country survived the worst regional recession they hailed him as a hero.

Lol @ #bitcoin-cabal clearly the btc secret society

Holliday +1



i feel more nervous about fiat money and economies based around them, i've already seen huge devaluations in post-USSR when people's life savings could only buy box of matches

re stabilization: only constant is change =)

In contrast to what I said earlier, there is a model of evolution that proposes that most change occurs suddenly rather than gradually. It is termed punk-eek (punctuated equilibrium). I am not sure if anyone has tried to apply this to social/economic systems, but it seems like it could work.

http://upload.wikimedia.org/wikipedia/commons/thumb/6/69/Punctuated-equilibrium.svg/360px-Punctuated-equilibrium.svg.png

http://en.wikipedia.org/wiki/Punctuated_equilibrium

It's fractals all the way down.

I just mean the same patterns seem to repeat themselves at every order of magnitude.

This is hardly the line I would take if I wanted to ingratiate myself with the leadership.

 

I think the problem arises due to comparing apples vs oranges. If you care to clarify I'd appreciate it, my original comment about fractals was actually pretty vague and flippant. My bad.

Apples vs oranges = different sets of confounds

yeah

Heh

So confused yet intrigued haha.

This would be useful if we understood the correlations between seemingly unrelated events. The patterns may not yet be recognizable until greater scale is measurable. Even so, such patterns are useless until they can make accurate predictions. We are a long way from that. OTOH, maybe there is some Manipulator that has it all figured out and is getting rich.

Overall, going from CAD cash, to the USD in a US bank or credit union:
1. Deposit CAD into Cavirtex account - few hours
2. Buy BTC on Cavirtex, withdraw to MtGox, sell - an hour (this is where the fluctuation in price might ruin or sweeten the deal)
3. Withdraw USD to Dwolla - a day
4. Withdraw from Dwolla to the US account - three days

When the price is stable, the cost is much lower than exchanging currencies at the bank and paying international wire transfer fees. It's also faster (~4 days total) and safer then mailing a USD draft/certified check to avoid wire transfer fees.

Feel free to open a business that does currency conversion through bitcoin ;)

 :) let's do it haha

lol!

Plus, it's not even true.

Or a banker to step up and start selling options or futures. Hell it might even stabilize he currency a little.

Kind of complicated to use, but here is an options market: http://polimedia.us/bitcoin/options.php

Also, I have heard rumors of a soon-to-open derivatives trading market.

Yeah, I totally get this!

AMEN !