Bitcoin is not the problem its the current users.

[Lethn]

Except that no other kind of money swings 50-200% a day and at this volatility why would merchants even bother with such a "currency"?

Your exactly right, no other money swings 50-200% a day, I can't possibly think of another currency currently in existence that has as much volatility as Bitcoin does.

http://www.bloomberg.com/quote/DXY:CUR

http://www.xe.com/currencycharts/?from=GBP&to=USD

I mean, you can't just for instance check all this paper based currency and see all the volatility there on many charts can you? And there certainly couldn't be a whole market out there that is dedicated to trading on this volatility right?

[coins101]

Except that no other kind of money swings 50-200% a day and at this volatility why would merchants even bother with such a "currency"?

Your exactly right, no other money swings 50-200% a day, I can't possibly think of another currency currently in existence that has as much volatility as Bitcoin does.

http://www.bloomberg.com/quote/DXY:CUR

http://www.xe.com/currencycharts/?from=GBP&to=USD

I mean, you can't just for instance check all this paper based currency and see all the volatility there on many charts can you? And there certainly couldn't be a whole market out there that is dedicated to trading on this volatility right?

The Zimbabwean Dollar

[BitJock-e]

I feel that Bitcoin is currently undergoing a power struggle. Between the speculators and the believers.

I actually see it being more of an image issue.

Majority of people out there have heard that bitcoin is used for lots of illegal activities, if not that, then its loved by the anarchocapitalists and ultra libertarians who want to take down the government.

While these may have been some of the founding principles, like any rebellious teenager, bitcoin will need to, and is stepping into adulthood.
 

[TippingPoint]

Global economics was a fixed game before, now it isn't

Yes

But the fixers have already taken steps to consolidate control, by concentrating on the "regulated" exchanges.

It is what they do.  It is who they are.

[guybrushthreepwood]

I feel that Bitcoin is currently undergoing a power struggle. Between the speculators and the believers.

Surely believers can also be speculators.

[Verum Libertas]

I feel that Bitcoin is currently undergoing a power struggle. Between the speculators and the believers.

I actually see it being more of an image issue.

Majority of people out there have heard that bitcoin is used for lots of illegal activities, if not that, then its loved by the anarchocapitalists and ultra libertarians who want to take down the government.

While these may have been some of the founding principles, like any rebellious teenager, bitcoin will need to, and is stepping into adulthood.
 

I feel that this is a key point. The image of Bitcoin. A lot of people have stated that the Bitcoin with stabilise as it becomes more accepted however if the image is one that shows it as a trading commodity then new people leaning about the Botcoin will probably be attracted to this side of the Bitcoin. Yes an increase in Bitcoins supply will increase stability however if the rate of speculators also increase then it will remain unstable.

Going back to the image point. The possibilities of the Bitcoin are truly endless and the community is formed of an array of intelligence. For the new comers we should glamourise innovation instead of speculation. Because at the moment from a newbies perspective it's probably seems more beneficial to trade your Bitcoins rather than trading your goods.

[hilariousandco]

I feel that Bitcoin is currently undergoing a power struggle. Between the speculators and the believers.

I actually see it being more of an image issue.

Majority of people out there have heard that bitcoin is used for lots of illegal activities, if not that, then its loved by the anarchocapitalists and ultra libertarians who want to take down the government.
 

Those are bad things?  And I think Bitcoin only has an image issue to those who are ignorant and naive.

[TheFootMan]

Bitcoin is used a lot in trade. Just see the last reports from bitpay. They can also take care of volatility risks.

I just like most others when first hearing of Bitcoins was excited, confused and intrigued. Now that I know a little bit more  (my knowledge is still minimal respectively to others on this forum) I feel that Bitcoin is currently undergoing a power struggle. Between the speculators and the believers.

My understanding of the Bitcoin was a decentralised currency giving the people the control. A currency which was controlled through the consumers demand and not the governmental supply. I'm sure many others see the Bitcoin in a similar light, yet at the moment the Bitcoin is nothing more than a speculators dream.

It's ironic that statements from a governmental organisation can inflate and deflate the value of the Bitcoin so greatly when the whole point of the Bitcoin is it decentralisation. You see the way I see it, the Bitcoin is nothing more than a traders tool at the moment. It's current purchasing power is fairly weak and it's extremely volatile. Ofcourse this is expected at the current Supply level, yet it's not helped by the speculators not trusting in the technology and vision of the Bitcoin and hoarding there coins away when governments issue statements.

From a businesses point of view how could I accept a currency that could potentially be worth 40% of what it was worth upon accepting it. Currently a lot of people pin the value of the USD to the Bitcoin. However to truly fuel the biteconomy we need to spend the BTC we have and covert them into USD (and yes we need to volatility to settle). 

The way I see it for the coin to succeed we need the right users behind it. Because ultimately it is only worth what we make of it.