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Bitcoin Was the Top Performing Currency of 2015

23 points by magoghm 11y ago

_Codemonkeyism 11y ago
What does "top performing currency" mean? Best for consumers? Best for investors? Best for economies?
- colechristensen 11y ago
  It's value vs. other currencies. Which is a really braindead metric for comparing bitcoin to anything.
  - vinchuco 11y ago
    You mean exchange rate.
- tomku 11y ago
  Best for garbage infographics and blogspam.
- kevinwang 11y ago
  looks like it's each currency's percentage increase/decrease in value from last year.
bpodgursky 11y ago
Red was the highest performing color in Vegas in 2015.
Lazare 11y ago
> Bitcoin Was the Top Performing Currency of 2015 The functions of a currency are as a store of value, a unit of account, and a medium of exchange. So let's see, is this article saying that: 1) Bitcoin had the most stable value among currencies? Oh...no. Bitcoin's value was quite unstable. 2) Bitcoin was the most widely used currency? Oh...no again. Bitcoin is not widely used, and it's difficult to compare items using Bitcoin prices. 3) Bitcoin was the easiest to exchange for goods and services? Oh...still no. Bitcoin is not accepted by many merchants and service providers. Apparently there's a new 4th role for a currency: Ability to let lazy journalists write misleading headlines. I suppose Bitcoin might actually be the best at that.
- narrator 11y ago
  If you could pay taxes in Bitcoin then it would actually be currency, otherwise, it's just another commodity. You can live in the middle of the woods and barter and/or only use Bitcoin, but without USD you're still getting your stuff taken away and going to prison for tax evasion. Barter is taxable after all, and trading commodities is taxed via capital gains.
deleted 11y ago
[deleted]
slyfocks 11y ago
Bitcoin's historical volatility (3-10x the currencies listed) makes for an unfair comparison to other currencies--as a currency's volatility increases, so does the probability that it will be an outlier, especially over an extended period (like a year). Not to mention that currency appreciation is questionably positive and does not warrant the label "top performing."

23 points by magoghm 11y ago

_Codemonkeyism 11y ago

What does "top performing currency" mean? Best for consumers? Best for investors? Best for economies?

colechristensen 11y ago
It's value vs. other currencies. Which is a really braindead metric for comparing bitcoin to anything.
- vinchuco 11y ago
  You mean exchange rate.
tomku 11y ago
Best for garbage infographics and blogspam.
kevinwang 11y ago
looks like it's each currency's percentage increase/decrease in value from last year.

bpodgursky 11y ago

Red was the highest performing color in Vegas in 2015.

Lazare 11y ago

> Bitcoin Was the Top Performing Currency of 2015 The functions of a currency are as a store of value, a unit of account, and a medium of exchange. So let's see, is this article saying that: 1) Bitcoin had the most stable value among currencies? Oh...no. Bitcoin's value was quite unstable. 2) Bitcoin was the most widely used currency? Oh...no again. Bitcoin is not widely used, and it's difficult to compare items using Bitcoin prices. 3) Bitcoin was the easiest to exchange for goods and services? Oh...still no. Bitcoin is not accepted by many merchants and service providers. Apparently there's a new 4th role for a currency: Ability to let lazy journalists write misleading headlines. I suppose Bitcoin might actually be the best at that.

narrator 11y ago
If you could pay taxes in Bitcoin then it would actually be currency, otherwise, it's just another commodity. You can live in the middle of the woods and barter and/or only use Bitcoin, but without USD you're still getting your stuff taken away and going to prison for tax evasion. Barter is taxable after all, and trading commodities is taxed via capital gains.

deleted 11y ago

[deleted]

slyfocks 11y ago

Bitcoin's historical volatility (3-10x the currencies listed) makes for an unfair comparison to other currencies--as a currency's volatility increases, so does the probability that it will be an outlier, especially over an extended period (like a year). Not to mention that currency appreciation is questionably positive and does not warrant the label "top performing."