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Relatively, it's still a very recent technology and still being developed. Just like when gold was first traded and suffered many huge highs & downs, these cryp
by juanmirocks 9y ago
Relatively, it's still a very recent technology and still being developed. Just like when gold was first traded and suffered many huge highs & downs, these crypto assets are undergoing the same volatility of sentiments. Still, for the long term, 100% sure we will have fiat currency replaced by crypto currencies in one way or another.
- cglace 9y ago"Just like when gold was first traded and suffered many huge highs & downs" Huh? Do we have a lot of data on the volatility of gold coinage when it was first introduced to the world? Also, the difference is that kingdoms could stamp their gold/silver and make their citizens use it. "Render unto Caesar the things that are Caesar's". . .
- elmar 9y ago>"Just like when gold was first traded and suffered many huge highs & downs" The 4 years after Nixon took the dollar out of the gold standard (1971), gold had huge volatility even today gold doesn't have low enough volatility to be used as currency.
- cglace 9y agoSo we should use something as a currency with even higher volatility than gold?
- elmar 9y agoYou are absolutely right, Bitcoin will never achieve the same stability of strong government controlled Fiat currencies, in my opinion it only makes sense to use it as a currency in regions were Fiat is very bad like for example Venezuela.
- juanmirocks 9y agoYes, I meant after the dollar was disconnected to gold.