[2014-12-06] CD: Can Bitcoin's Price Ever Be Stable?

[panju1]

Can Bitcoin's Price Ever Be Stable?

http://www.coindesk.com/can-bitcoins-price-ever-stable/

If experts are right, one of bitcoin's prevailing characteristics could also be its biggest problem – a fixed supply that helps to send prices yo-yoing. They say that cryptocurrencies with flexible supply would help to avoid scaring everyday users away.

[kjlimo]

Right, that's why no one buys gold... Or oil... Or everything else that is fixed in supply!

[Mr Tea]

That's a point I always bring up when neysayers complain about the fluctuations. Stocks and shares can lose value very quickly knocking off several millions in value from their company.

[Wonka]

Yes it can, though I think it will take a very long time if ever to stabilize fully. I guess only time will tell.

[Whitehouse]

Maybe in the future bitcoin can break away from being pegged to fiat and we will peg fiat to bitcoin instead  .

That's a point I always bring up when neysayers complain about the fluctuations. Stocks and shares can lose value very quickly knocking off several millions in value from their company.

Currencies also fluctuate in value. I read somewhere that the British Pound has lost nearly 70% of it's value over the course of 30 years.

[Chef Ramsay]

^And the value of the USD has went down to the tune of 96% ever since the Federal Reserve came into play ~100 yrs ago. Not yoyo-ing but straight fucking down.

[Chavez]

It can become stable, though I'm not sure if it ever will. I think it will be quite the roller coaster ride with periods of relative steadiness. It makes bitcoin that little bit more exciting in my opinion, though.