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People here are misunderstanding what a currency is supposed to do. It isn't like a stock. Equities going up is good and will have periodic retreats. It is a c
by jnordwick 9y ago
People here are misunderstanding what a currency is supposed to do.
It isn't like a stock. Equities going up is good and will have periodic retreats. It is a company and supposed to gain in value.
A currency is a medium of exchange and unit of account. It is supposed to remain stable. It shouldn't go up or down like equities. It should be stable. The unit of account changing would be like a unit of length changing. Try building a house if your measuring device was constantly changing in you.
- joyinsky 9y agoThey aren't try to have a currency. They are trying to build a network and sell shares of that network backed on the term "currency".
- m3talsmith 9y agoCurrencies always go up or down based on trust in the currency's backer; in their ability to perform. Thus as the US Dollar (USD) went up against the British Pound Sterling (BPS) when Brexit was declared the course to go, the USD has fallen as more business uses for the Blockchain (BTC, ETC, LTC, etc.) have become viable and implemented: trust decreased in the UK's ability to govern and produce stable storage of value in the BPS, trust increased the Blockchain's ability to store value through entrenching itself in everyday business. All currencies live and die on market pressures which require societal trust. An exchange of one currency for another is an exchange in preference of trust. Stock is the exact same thing, with the value a measure of trust in the given corporation and the viability of it to survive in a given economic, industrial, or political environment. To equate that they are different is to speciate an argument for why one set of matter and social construct is eternal in nature and the rest are mortal in nature: it is a highly opinionated point which one must make which in itself proves that the argument is false.