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Is bitcoin volatile? Absolutely...but how do you expect a completely new asset type to behave? At this point bitcoin is a populist movement just as unexpected
by etr-strike 9y ago
Is bitcoin volatile? Absolutely...but how do you expect a completely new asset type to behave? At this point bitcoin is a populist movement just as unexpected as Trump or Brexit. It's a populist revolt against monetary policy which people have no control over. Of course this trustless and decentralized asset type forcing it's way into the world financial system is going to experience volatility.
- CPLX 9y agoBitcoin, currently, is a mechanism for high stakes gambling.* People fucking love gambling. So it's a useful innovation, in a sense. As long as you actually understand what it is and why people are buying it you'll be OK. Calling it a safe haven asset class however, is, in fact, amusing. * To be fair it's also good for buying drugs, credit card numbers, and child porn.
- rhino369 9y ago>* To be fair it's also good for buying drugs, credit card numbers, and child porn. Is it even good for that anymore? I've heard the black markets are moving to other crypto because bitcoin transaction fees are getting stupidly large. But that could be fake news.
- Fukkaudeku 9y agoAfaik they moved to Monero, because having the ability to see all transactions publicly from an address isn't very anonymous at all.