AntiVigilante
Member
 Offline
Activity: 98
Merit: 10
|
 |
June 15, 2011, 05:46:44 AM |
|
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.  |
|
|
|
|
|
|
|
|
|
|
According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
charliesheen
|
|
June 15, 2011, 08:00:29 AM |
|
It is the calm before the storm.
|
|
|
|
killer2021
Member
Offline
Activity: 84
Merit: 10
|
|
June 15, 2011, 08:22:42 AM |
|
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. |
|
|
|
AntiVigilante
Member
Offline
Activity: 98
Merit: 10
|
|
June 15, 2011, 08:59:50 AM |
|
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. |
|
|
|
|
piuk
|
|
June 15, 2011, 09:06:42 AM |
|
Look how nicely symmetrical the order book is. I don't like it, it makes me feel nervous |
|
|
|
Synaptic
Member
Offline
Activity: 84
Merit: 10
|
|
June 15, 2011, 09:09:40 AM |
|
24 hours of "stability" is not "stable"...
|
|
|
|
|
AntiVigilante
Member
Offline
Activity: 98
Merit: 10
|
|
June 15, 2011, 09:14:37 AM |
|
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. |
|
|
|
|
error
|
|
June 15, 2011, 12:49:59 PM |
|
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.
|
3KzNGwzRZ6SimWuFAgh4TnXzHpruHMZmV8
|
|
|
Basiley
Newbie
Offline
Activity: 42
Merit: 0
|
|
June 15, 2011, 12:51:11 PM |
|
"stable" currencies is dead currencies.
diamond cost fluctuate per/week several times. for example.
|
|
|
|
|
Synaptic
Member
Offline
Activity: 84
Merit: 10
|
|
June 15, 2011, 12:52:50 PM |
|
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?" |
|
|
|
|
AntiVigilante
Member
Offline
Activity: 98
Merit: 10
|
|
June 15, 2011, 12:56:37 PM |
|
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. |
|
|
|
|
Macho
|
|
June 15, 2011, 12:57:25 PM |
|
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  |
|
|
|
|
Synaptic
Member
Offline
Activity: 84
Merit: 10
|
|
June 15, 2011, 01:13:46 PM |
|
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... |
|
|
|
|
|
error
|
|
June 15, 2011, 01:52:55 PM |
|
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. |
3KzNGwzRZ6SimWuFAgh4TnXzHpruHMZmV8
|
|
|
Savaron
Newbie
Offline
Activity: 34
Merit: 0
|
|
June 15, 2011, 02:07:03 PM |
|
How can I find out the average weekly rise of USD/BTC until now?
|
|
|
|
|
|
bittersweet
|
|
June 15, 2011, 02:27:53 PM |
|
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
Member
Offline
Activity: 84
Merit: 10
|
|
June 15, 2011, 02:29:37 PM |
|
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
Legendary
Offline
Activity: 1400
Merit: 1009
|
|
June 15, 2011, 02:36:51 PM |
|
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
Member
Offline
Activity: 84
Merit: 10
|
|
June 15, 2011, 02:46:02 PM |
|
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. ...you were saying? |
|
|
|
|
justusranvier
Legendary
Offline
Activity: 1400
Merit: 1009
|
|
June 15, 2011, 03:18:03 PM |
|
...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. |
|
|
|
|
|
