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Linkbait. That's not a crash... it can go down a few percentage point in a day but the long term trends all show increases. Over the last week it's still bette

Linkbait. That's not a crash... it can go down a few percentage point in a day but the long term trends all show increases. Over the last week it's still better that what index funds have done in the last compounded 2 years.

jnordwick 9y ago
It's a currency. It's not supposed to go up and down like a stock. It is supposed to remain stable.
- Omnius 9y ago
  It was supposed to be a currency it's a commodity.
  - jnordwick 9y ago
    This explanation I can buy. Nobody is treating like a currency. They keep wanting it to appreciate because they see it a cool tech-related commodity.
    - Omnius 9y ago
      Agreed. Seems like its a commodity to be traded, a black market currency for criminal activity (i am not bothered by this), a currency for countries that need a way to buy goods outside there normal means. All the currency aspects are really cool especially as a means of freedom BUT its value is 100% based on speculation and trading not because of real value. It is cool and i am not hating on it and people are getting rich from it but it's value isn't because all of a sudden average people are using it to buy groceries or pay their bills.
      - 15155 9y ago
        > isn't because all of a sudden average people are using it to buy groceries or pay their bills. Now that it's in the media: why couldn't this quickly and quietly become reality?
- Thespian2 9y ago
  I'd argue that crypto currencies are a fundamentally new asset class, neither fish nor fowl. To become a useful "currency," yes, stability is a desirable quantity. What it is "supposed" to do is not a useful concept here. What it does is much more important. Currently, bitcoin is still more a highly-speculative, bubble-prone asset class with some of the qualities of a currency, some of the qualities of a stock, and some of the qualities of an asset like gold. It is incorrect to pigeon-hole it as any one of these.
- deadowl 9y ago
  I suspect that's related to the high degree of speculation and the lack of commodity backing.

jnordwick 9y ago

It's a currency. It's not supposed to go up and down like a stock. It is supposed to remain stable.

Omnius 9y ago
It was supposed to be a currency it's a commodity.
- jnordwick 9y ago
  This explanation I can buy. Nobody is treating like a currency. They keep wanting it to appreciate because they see it a cool tech-related commodity.
  - Omnius 9y ago
    Agreed. Seems like its a commodity to be traded, a black market currency for criminal activity (i am not bothered by this), a currency for countries that need a way to buy goods outside there normal means. All the currency aspects are really cool especially as a means of freedom BUT its value is 100% based on speculation and trading not because of real value. It is cool and i am not hating on it and people are getting rich from it but it's value isn't because all of a sudden average people are using it to buy groceries or pay their bills.
    - 15155 9y ago
      > isn't because all of a sudden average people are using it to buy groceries or pay their bills. Now that it's in the media: why couldn't this quickly and quietly become reality?
Thespian2 9y ago
I'd argue that crypto currencies are a fundamentally new asset class, neither fish nor fowl. To become a useful "currency," yes, stability is a desirable quantity. What it is "supposed" to do is not a useful concept here. What it does is much more important. Currently, bitcoin is still more a highly-speculative, bubble-prone asset class with some of the qualities of a currency, some of the qualities of a stock, and some of the qualities of an asset like gold. It is incorrect to pigeon-hole it as any one of these.
deadowl 9y ago
I suspect that's related to the high degree of speculation and the lack of commodity backing.