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Author Topic: Guys, relax. This up down volatility is all 100% perfectly normal  (Read 2497 times)
Wuji
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April 12, 2013, 04:19:49 PM
 #21

As a tool for exchange, it doesn't matter what price BTC are at, the most important think is stability. Imagine trying to be TSR which hedges BTC against fiat these past two weeks. On the other hand, it is clear more people are using bitcoin to try and store value and/or speculate, in which case the price rise is good/.

Nevertheless, people should forget about the run up to $XXX, it was never sustainable. Look at things in about 90day moving averages and get a better picture, the rest is noise.

Everyone saying that major money is about to move into bitcoin (some of it already has of course, look at the Winklevosses) is silly though. Even the highest flying most gambling traders aren't going to touch a smallish manipulated market, with only one exchange that can declare trading freezes whenever it wants. that is seeing 100% swings a day

Keep calm and carry on, I think most of us now that it's not bitcoin that will eventually be used anyway, it's something that will come out of bitcoin or be built on top of bitcoin. At the moment the infrastructure of this currency is still in alpha stages, nowhere near ready for average person to start using it. Christ, we just had a blockchain split less than a month ago, it was handled well, but that shit can't happen when BTC are worth $100+!

Quoted for truth.  These are words of wisdom here.  Everything you said is precisely my sentiments.
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April 12, 2013, 04:26:19 PM
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except the housing bubble in Australia lives on....apparently the longest bubble in history now

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April 12, 2013, 04:30:04 PM
 #23

Both the housing and QE bubble were (are) products of the Federal Reserve's manipulation of interest rates. So, not really a fair comparison.
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April 12, 2013, 04:50:56 PM
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  I stopped buying last time at $14 and sold at $230.

One time I made an airplane out of popsicle sticks!
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