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kalinka
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April 12, 2013, 07:49:42 PM
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We should stop viewing bitcoin as an investment opportunity, and you know, view it as a virtual currency as it was intended for.

This will be less likely to happen if the price stays so volatile as it has been. Like, I kinda feel bad for the guy I bought a ps3 from on bitmit for 1.44 bitcoins or so. At that time a bitcoin was $144. The next day it was $100 more and I kinda wanted to cancel my order but didn't. He was worried the price would drop and offered to refund some if I released escrow.

Now the price is lower and well glad I got rid of my coins but I can see how the other guy lost money too since the coins are still in escrow.

I mean, really, does the value of bitcoin really change just because <online exchanges> report that it changes? We should really just start pricing stuff in bitcoin and ignore what those exchanges say. That or stop trying to buy tons and tons of coins to make money off the exchange rate, only hoarding them and such...

Just feel like the idea of bitcoin is really hurt by this crap, maybe it's just me.

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April 12, 2013, 07:59:43 PM
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I'm new to this game but my guess is after Bitcoin becomes popular enough to be a household word, it will stabilize and the trading won't be so volatile. It has received an explosion of interest just in the last week, making it stronger IMHO. I as well am mostly interested in using BTC as an alternative currency for my craft business, not interrested in speculation buy/selling.
uyjulian
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April 12, 2013, 08:00:41 PM
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buy as much bitcoins as you can

the price will go up soon

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April 12, 2013, 08:04:09 PM
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I mean, really, does the value of bitcoin really change just because <online exchanges> report that it changes? We should really just start pricing stuff in bitcoin and ignore what those exchanges say.

Correct, for example I would not trade you 1.44 btc for a ps3, not even .1 btc. Having some bitcoins to play around with is worth well over the mt gox rate to many people. To others I guess it would have less value. Which type is there more of? That is what the exchanges are for finding out.

Also it can never be stable at such low prices. If you want stability you want a group or person to say "I will buy all bitcoins that will ever be created for $1000 each". $21 billion would accomplish this.
kalinka
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April 12, 2013, 08:23:09 PM
 #5

One could argue that the price will never be stable unless it's actively being used for exchange.

Also, for a currency to be a currency, there should be more viable ways to obtain it besides spending fiat. You might say sell stuff. Problem is that there are no buyers. To me that actually makes bitcoin worth less.

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