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Poll
Question: On balance, how do speculators* affect Bitcoin's chance of succeeding?
speculators are beneficial - 29 (67.4%)
speculators are detrimental - 3 (7%)
speculators have a neutral effect - 5 (11.6%)
not sure - 6 (14%)
Total Voters: 43

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Author Topic: Is speculation good or bad for Bitcoin?  (Read 1470 times)
chickenado
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May 28, 2011, 07:14:36 AM
 #1

*For the purpose of this poll, speculation is defined as buying/selling BTC with the intent of making a profit on the difference.
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rebuilder
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May 28, 2011, 07:22:27 AM
 #2

What's the point of even asking? Speculation is a natural consequence of the fluctuations in exchange rates. You can't do anything about it even if you wanted to.

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chickenado
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May 28, 2011, 07:32:18 AM
 #3

What's the point of even asking? Speculation is a natural consequence of the fluctuations in exchange rates. You can't do anything about it even if you wanted to.

This poll is just about sentiment, not about what can/should be done about speculation.  The point of asking? To get a feel where the Bitcoin community is going. Some forum members have already talked about forking or rebooting the block chain because of what they perceive as excessive speculation.
wumpus
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May 28, 2011, 07:37:31 AM
 #4

Forking or changing to an alternative chain won't decrease speculation either. You'll get cross-chain speculation, for example.

The only way to get less speculation would be if the price stabilised, and this will happen sooner if you don't pull the rug underneath it.

Anyway, I agree with the other reply that it is not necessarily bad, it's simply a fact of life. People are speculating with everything, from art to commodities to stocks. It's part of the price discovery process.

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FreeMoney
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May 28, 2011, 08:41:16 AM
 #5

A so called "speculator" is not doing anything but making offers to sell and/or buy bitcoins. If someone is 'hurt' by this they need to watch out for butterflies imo.

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rebuilder
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May 28, 2011, 11:53:25 AM
 #6

I can't see anything you could do to stop speculation except somehow make it impossible to use Bitcoin for any kind of trading. Which, obviously, rather defeats the purpose.

Asking whether speculation is bad is like asking whether the wind is bad. It's there, everything we do will just have to take it into account.

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rezin777
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May 28, 2011, 01:56:53 PM
 #7

Thank "random deity here" that people are interested in buying and selling Bitcoin.  Shocked
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May 28, 2011, 02:27:55 PM
 #8

The speculators create exchange liquidity for the rest of us. That liquidity helps us reach a value that properly takes into account the future based on all current known information much sooner.

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May 28, 2011, 04:26:05 PM
 #9

good.

One off NP-Hard.
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