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Author Topic: Oddly Stable  (Read 5038 times)
AntiVigilante
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June 15, 2011, 05:46:44 AM
 #21

real businesses and trade will not be possible until it is stable.  So yes, I think it would be a good thing


Actually common business won't. Real business is priced in around 80/20 BTC/fiat. And that's always stable. Smiley

Proposal: http://forum.bitcoin.org/index.php?topic=11541.msg162881#msg162881
Inception: https://github.com/bitcoin/bitcoin/issues/296
Goal: http://forum.bitcoin.org/index.php?topic=12536.0
Means: Code, donations, and brutal criticism. I've got a thick skin. 1Gc3xCHAzwvTDnyMW3evBBr5qNRDN3DRpq
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charliesheen
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June 15, 2011, 08:00:29 AM
 #22

It is the calm before the storm.

killer2021
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June 15, 2011, 08:22:42 AM
 #23

There's not enough "real economy"  as of now to support a stable price. So it's investors and not "real economy" that are supporting this price.

Still, the stable price will BENEFIT ALL OF BITCOIN. Why? Because a stable price can lead to people setting up businesses with actual set prices. If you are selling something for 20$ USD, you can now set the price to 1 BTC and know that you won't be selling something and generating a loss.

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June 15, 2011, 08:59:50 AM
 #24

There's not enough "real economy"  as of now to support a stable price. So it's investors and not "real economy" that are supporting this price.

Still, the stable price will BENEFIT ALL OF BITCOIN. Why? Because a stable price can lead to people setting up businesses with actual set prices. If you are selling something for 20$ USD, you can now set the price to 1 BTC and know that you won't be selling something and generating a loss.

Stop pricing in dollars. No loss. Problem fixed.

Bitcoin needs a stable appreciation not a stable price.

Proposal: http://forum.bitcoin.org/index.php?topic=11541.msg162881#msg162881
Inception: https://github.com/bitcoin/bitcoin/issues/296
Goal: http://forum.bitcoin.org/index.php?topic=12536.0
Means: Code, donations, and brutal criticism. I've got a thick skin. 1Gc3xCHAzwvTDnyMW3evBBr5qNRDN3DRpq
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June 15, 2011, 09:06:42 AM
 #25

Look how nicely symmetrical the order book is. I don't like it, it makes me feel nervous Smiley

Synaptic
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June 15, 2011, 09:09:40 AM
 #26

24 hours of "stability" is not "stable"...
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June 15, 2011, 09:14:37 AM
 #27

24 hours of "stability" is not "stable"...

Stability is relative to reaction time / population not absolute time. For a thin market it is plenty stable.

Proposal: http://forum.bitcoin.org/index.php?topic=11541.msg162881#msg162881
Inception: https://github.com/bitcoin/bitcoin/issues/296
Goal: http://forum.bitcoin.org/index.php?topic=12536.0
Means: Code, donations, and brutal criticism. I've got a thick skin. 1Gc3xCHAzwvTDnyMW3evBBr5qNRDN3DRpq
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June 15, 2011, 12:49:59 PM
 #28

BTC is not going to be "stable" in the way described here until it gets much closer to its actual value, which is at least hundreds of times its current value. In the meantime, early adopter merchants stand to profit greatly even with the day-to-day volatility.

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Basiley
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June 15, 2011, 12:51:11 PM
 #29

"stable" currencies is dead currencies.
diamond cost fluctuate per/week several times. for example.
Synaptic
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June 15, 2011, 12:52:50 PM
 #30

BTC is not going to be "stable" in the way described here until it gets much closer to its actual value, which is at least hundreds of times its current value. In the meantime, early adopter merchants stand to profit greatly even with the day-to-day volatility.

What is your basis for believing BTC's actual value is "hundreds of times its current value?"
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June 15, 2011, 12:56:37 PM
 #31

BTC is not going to be "stable" in the way described here until it gets much closer to its actual value, which is at least hundreds of times its current value. In the meantime, early adopter merchants stand to profit greatly even with the day-to-day volatility.

What is your basis for believing BTC's actual value is "hundreds of times its current value?"

Unsatisfied political demand. That's the white elephant in the room and pretty soon you can't ignore it.

Proposal: http://forum.bitcoin.org/index.php?topic=11541.msg162881#msg162881
Inception: https://github.com/bitcoin/bitcoin/issues/296
Goal: http://forum.bitcoin.org/index.php?topic=12536.0
Means: Code, donations, and brutal criticism. I've got a thick skin. 1Gc3xCHAzwvTDnyMW3evBBr5qNRDN3DRpq
Macho
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June 15, 2011, 12:57:25 PM
 #32

What is your basis for believing BTC's actual value is "hundreds of times its current value?"
I think he is right, just got the direction wrong Wink
Synaptic
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June 15, 2011, 01:13:46 PM
 #33

BTC is not going to be "stable" in the way described here until it gets much closer to its actual value, which is at least hundreds of times its current value. In the meantime, early adopter merchants stand to profit greatly even with the day-to-day volatility.

What is your basis for believing BTC's actual value is "hundreds of times its current value?"

Unsatisfied political demand. That's the white elephant in the room and pretty soon you can't ignore it.

I think you VASTLY overestimate the sheep herd's ability to even manage a gesture towards the white elephant in any meaningful way...
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June 15, 2011, 01:52:55 PM
 #34

BTC is not going to be "stable" in the way described here until it gets much closer to its actual value, which is at least hundreds of times its current value. In the meantime, early adopter merchants stand to profit greatly even with the day-to-day volatility.

What is your basis for believing BTC's actual value is "hundreds of times its current value?"

Bitcoin solves a variety of problems related to moving money; however, it is currently extremely underutilized as a solution to those problems. As its adoption continues to increase as people seek to solve their problems, the exchange rate will also increase.

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Savaron
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June 15, 2011, 02:07:03 PM
 #35

How can I find out the average weekly rise of USD/BTC until now?
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June 15, 2011, 02:27:53 PM
 #36

BTC is not going to be "stable" in the way described here until it gets much closer to its actual value, which is at least hundreds of times its current value.

Please stop misleading people. Saying that some hypothetical "actual value" is thousands of dollars per BTC is no different from saying that it's "actual value" is 0.

My Bitcoin address: 1DjTsAYP3xR4ymcTUKNuFa5aHt42q2VgSg
Synaptic
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June 15, 2011, 02:29:37 PM
 #37

BTC is not going to be "stable" in the way described here until it gets much closer to its actual value, which is at least hundreds of times its current value. In the meantime, early adopter merchants stand to profit greatly even with the day-to-day volatility.

What is your basis for believing BTC's actual value is "hundreds of times its current value?"

Bitcoin solves a variety of problems related to moving money; however, it is currently extremely underutilized as a solution to those problems. As its adoption continues to increase as people seek to solve their problems, the exchange rate will also increase.

For your average Joe and Jane, Dwolla Grid solves whatever problems related to moving money that bitcoin solves, and does it unquestionably legally too. And at $0.25 per transaction of any size, it's not much more expensive that the eventual suggested .01 BTC transaction fee and that at CURRENT exchange rates.

I believe that BTC will end up being no cheaper to use as an online transaction method than Dwolla or other new cash services. And in fact will be much more expensive from a certain point of view because of the cryptic disconnect from going from USD to BTC.

At any rate, your little explanation is still an outrageously tenuous reason for justifying BTC trading at "hundreds of times its current value."

In fact, if "ease of transactions" is the pinnacle of your vast speculative over-estimation of value, you have my sincere pity and concern for your well-being.
justusranvier
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June 15, 2011, 02:36:51 PM
 #38

For your average Joe and Jane, Dwolla Grid solves whatever problems related to moving money that bitcoin solves, and does it unquestionably legally too. And at $0.25 per transaction of any size, it's not much more expensive that the eventual suggested .01 BTC transaction fee and that at CURRENT exchange rates.

I believe that BTC will end up being no cheaper to use as an online transaction method than Dwolla or other new cash services. And in fact will be much more expensive from a certain point of view because of the cryptic disconnect from going from USD to BTC.

At any rate, your little explanation is still an outrageously tenuous reason for justifying BTC trading at "hundreds of times its current value."

In fact, if "ease of transactions" is the pinnacle of your vast speculative over-estimation of value, you have my sincere pity and concern for your well-being.
PayPal had a lot of great ideas too until EBay bought it and made it a lot less useful. The same thing will happen to Dwolla if it gets big.

You should also consider how ease of use has advanced over the last six months and extrapolate that into the future instead of basing your assessment on the current state of the software.
Synaptic
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June 15, 2011, 02:46:02 PM
 #39

For your average Joe and Jane, Dwolla Grid solves whatever problems related to moving money that bitcoin solves, and does it unquestionably legally too. And at $0.25 per transaction of any size, it's not much more expensive that the eventual suggested .01 BTC transaction fee and that at CURRENT exchange rates.

I believe that BTC will end up being no cheaper to use as an online transaction method than Dwolla or other new cash services. And in fact will be much more expensive from a certain point of view because of the cryptic disconnect from going from USD to BTC.

At any rate, your little explanation is still an outrageously tenuous reason for justifying BTC trading at "hundreds of times its current value."

In fact, if "ease of transactions" is the pinnacle of your vast speculative over-estimation of value, you have my sincere pity and concern for your well-being.
PayPal had a lot of great ideas too until EBay bought it and made it a lot less useful. The same thing will happen to Dwolla if it gets big.

You should also consider how ease of use has advanced over the last six months and extrapolate that into the future instead of basing your assessment on the current state of the software.

"BitPal had a lot of great ideas too until BitBay bought it and made it a lot less useful. The same thing will happen to BitBuddy if it gets big."

...you were saying?
justusranvier
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June 15, 2011, 03:18:03 PM
 #40

...you were saying?
I was saying that Napster failed and Bittorrent succeeded for the same reason that PayPal failed (to achieve the founders original intentions) and Bitcoin will succeed  - centralized control.

The only thing that can kill Bitcoin is insufficient demand for it. As long as people desire a decentralized currency the technology will outpace efforts to eliminate it.
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