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Author Topic: Is bitcoin too volatile?  (Read 7726 times)
mmsmears
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January 25, 2015, 11:35:50 AM
Last edit: January 25, 2015, 11:47:37 AM by mmsmears
 #101

WHen the US Colonies were first established each State had it's own currency, and exchange rates were likely a bit volatile. It wasn't until a single currency (the Dollar) emerged that things settled down. It's possible we're seeing the same with cryptocurrencies today...with the difference being that the strong contender to be the single cryptocurrency already exists, bitcoin.
It's not  the same tho. Dollar is under severe regulations, Bitcoin is true free market, so not sure if it can be as stable without extreme regulations.

Regulation is anathema to Bitcoin. Better to have a volatile, unregulated cryptocurrency than a stable, regulated one.
To be widely accepted bitcoin needs to settle down. People want their currency value to remain stable, not fluctuate wildly like a commodity stock.  Imagine if your paycheck was paid only in bitcoins and you would gain or loose 30% of it's value week to week.  Could you pay your rent, mortgage, car & health insurance or buy groceries? Sorry kids, we don't eat this week:(

A swizz employee living in france got his spending power increased by 30 % last week. A french empoloyee living in Schweiz got his spending power reduced. Only regulated currencies, no bitcoins involved. Regulators can not fix that, any more than daytraders. Probably, the market can do the regulation better. Stable value of money is an illusion, has always been.

Merhaba Erdogan, I lived in Turkey for 3 years and as economies go, you have a unfortunate base economic reference.  I remember when $1USD = 1,200,000 TL  I appreciate that you have suffered through some of the worst economic times that most people can't even imagine.  In the US the landlord or mortgage company want their money on time and on value.  They aren't interested in spending power, they want $$$.
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Erdogan
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January 25, 2015, 11:43:37 AM
 #102

WHen the US Colonies were first established each State had it's own currency, and exchange rates were likely a bit volatile. It wasn't until a single currency (the Dollar) emerged that things settled down. It's possible we're seeing the same with cryptocurrencies today...with the difference being that the strong contender to be the single cryptocurrency already exists, bitcoin.
It's not  the same tho. Dollar is under severe regulations, Bitcoin is true free market, so not sure if it can be as stable without extreme regulations.

Regulation is anathema to Bitcoin. Better to have a volatile, unregulated cryptocurrency than a stable, regulated one.
To be widely accepted bitcoin needs to settle down. People want their currency value to remain stable, not fluctuate wildly like a commodity stock.  Imagine if your paycheck was paid only in bitcoins and you would gain or loose 30% of it's value week to week.  Could you pay your rent, mortgage, car & health insurance or buy groceries? Sorry kids, we don't eat this week:(

A swizz employee living in france got his spending power increased by 30 % last week. A french empoloyee living in Schweiz got his spending power reduced. Only regulated currencies, no bitcoins involved. Regulators can not fix that, any more than daytraders. Probably, the market can do the regulation better. Stable value of money is an illusion, has always been.

Merhaba Erdogan, I lived in Turkey for 3 years and as economies go, you have a unfortunate base economic reference.  I appreciate that you have suffered through some of the worst economic times that most people can't even imagine.  In the US the landlord or mortgage company want their money on time and on value.  They aren't interested in spending power, they want $$$.

I don't live in Turkey, I just run it. Smiley
mmsmears
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January 25, 2015, 11:49:00 AM
 #103

WHen the US Colonies were first established each State had it's own currency, and exchange rates were likely a bit volatile. It wasn't until a single currency (the Dollar) emerged that things settled down. It's possible we're seeing the same with cryptocurrencies today...with the difference being that the strong contender to be the single cryptocurrency already exists, bitcoin.
It's not  the same tho. Dollar is under severe regulations, Bitcoin is true free market, so not sure if it can be as stable without extreme regulations.

Regulation is anathema to Bitcoin. Better to have a volatile, unregulated cryptocurrency than a stable, regulated one.
To be widely accepted bitcoin needs to settle down. People want their currency value to remain stable, not fluctuate wildly like a commodity stock.  Imagine if your paycheck was paid only in bitcoins and you would gain or loose 30% of it's value week to week.  Could you pay your rent, mortgage, car & health insurance or buy groceries? Sorry kids, we don't eat this week:(

A swizz employee living in france got his spending power increased by 30 % last week. A french empoloyee living in Schweiz got his spending power reduced. Only regulated currencies, no bitcoins involved. Regulators can not fix that, any more than daytraders. Probably, the market can do the regulation better. Stable value of money is an illusion, has always been.

Merhaba Erdogan, I lived in Turkey for 3 years and as economies go, you have a unfortunate base economic reference.  I appreciate that you have suffered through some of the worst economic times that most people can't even imagine.  In the US the landlord or mortgage company want their money on time and on value.  They aren't interested in spending power, they want $$$.

I don't live in Turkey, I just run it. Smiley

Do you live in Germany or Austria?
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January 25, 2015, 11:52:57 AM
 #104

WHen the US Colonies were first established each State had it's own currency, and exchange rates were likely a bit volatile. It wasn't until a single currency (the Dollar) emerged that things settled down. It's possible we're seeing the same with cryptocurrencies today...with the difference being that the strong contender to be the single cryptocurrency already exists, bitcoin.
It's not  the same tho. Dollar is under severe regulations, Bitcoin is true free market, so not sure if it can be as stable without extreme regulations.

Regulation is anathema to Bitcoin. Better to have a volatile, unregulated cryptocurrency than a stable, regulated one.
To be widely accepted bitcoin needs to settle down. People want their currency value to remain stable, not fluctuate wildly like a commodity stock.  Imagine if your paycheck was paid only in bitcoins and you would gain or loose 30% of it's value week to week.  Could you pay your rent, mortgage, car & health insurance or buy groceries? Sorry kids, we don't eat this week:(

A swizz employee living in france got his spending power increased by 30 % last week. A french empoloyee living in Schweiz got his spending power reduced. Only regulated currencies, no bitcoins involved. Regulators can not fix that, any more than daytraders. Probably, the market can do the regulation better. Stable value of money is an illusion, has always been.

Merhaba Erdogan, I lived in Turkey for 3 years and as economies go, you have a unfortunate base economic reference.  I appreciate that you have suffered through some of the worst economic times that most people can't even imagine.  In the US the landlord or mortgage company want their money on time and on value.  They aren't interested in spending power, they want $$$.

I don't live in Turkey, I just run it. Smiley

Do you live in Germany or Austria?

I could tell you, but I prefer to be maximally anonymous here, so I can express myself freely. Anyway, a friend of a friend is hired by a swiss company, but lives in france.
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January 25, 2015, 11:58:06 AM
 #105

WHen the US Colonies were first established each State had it's own currency, and exchange rates were likely a bit volatile. It wasn't until a single currency (the Dollar) emerged that things settled down. It's possible we're seeing the same with cryptocurrencies today...with the difference being that the strong contender to be the single cryptocurrency already exists, bitcoin.
It's not  the same tho. Dollar is under severe regulations, Bitcoin is true free market, so not sure if it can be as stable without extreme regulations.

Regulation is anathema to Bitcoin. Better to have a volatile, unregulated cryptocurrency than a stable, regulated one.
To be widely accepted bitcoin needs to settle down. People want their currency value to remain stable, not fluctuate wildly like a commodity stock.  Imagine if your paycheck was paid only in bitcoins and you would gain or loose 30% of it's value week to week.  Could you pay your rent, mortgage, car & health insurance or buy groceries? Sorry kids, we don't eat this week:(

A swizz employee living in france got his spending power increased by 30 % last week. A french empoloyee living in Schweiz got his spending power reduced. Only regulated currencies, no bitcoins involved. Regulators can not fix that, any more than daytraders. Probably, the market can do the regulation better. Stable value of money is an illusion, has always been.

Merhaba Erdogan, I lived in Turkey for 3 years and as economies go, you have a unfortunate base economic reference.  I appreciate that you have suffered through some of the worst economic times that most people can't even imagine.  In the US the landlord or mortgage company want their money on time and on value.  They aren't interested in spending power, they want $$$.

I don't live in Turkey, I just run it. Smiley

Do you live in Germany or Austria?

I could tell you, but I prefer to be maximally anonymous here, so I can express myself freely. Anyway, a friend of a friend is hired by a swiss company, but lives in france.


Understood, Barış seninle olsun
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January 25, 2015, 02:25:56 PM
 #106

At this point it without a doubt is too volatile. But we are still in a early stage.
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January 25, 2015, 02:38:53 PM
 #107

bitcoin is not volatile, and it's value is not volatile, only the price is volatile

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January 25, 2015, 03:58:29 PM
 #108

bitcoin is not volatile, and it's value is not volatile, only the price is volatile

You are implying Bitcoin has inherent value regardless price.
So how do you set Bitcoin's purchasing power if you are saying its not volatile? one day you can buy a house with your Bitcoin, the other only a car.
Its volatile, price and purchasing power is all that matters at the end of the day.
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January 25, 2015, 04:34:26 PM
 #109

bitcoin is not volatile, and it's value is not volatile, only the price is volatile
I believe in the technology to a point, but for it to be a widely accepted currency it needs to be fairly stable.  Would you accept your paycheck only in BTC at this point?  Could you survive only using it to exchange for goods & services instead of your local fiat? 

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