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Yeah, but the volatility is still a nonstarter. A quick glance at the price chart shows the price has dropped 50% in the past month. A longer view shows somethi
by vec 9y ago
Yeah, but the volatility is still a nonstarter. A quick glance at the price chart shows the price has dropped 50% in the past month. A longer view shows something like a 1,700% difference between the six month low and high. Meanwhile first-world fiat currencies consider it a bad year if they can't maintain a constant inflation rate between 2% and 3%.
There's always going to be niche markets for people who can't use fiat currencies for one reason or another (international commerce, failed states, black markets, etc.), and there's probably going to be some number of hobbyists who want to transact in crypto as a political or technical end in itself.
But why would the median consumer possibly want to migrate to a world where their real net worth could halve or double literally overnight, repeatedly, at any time, for reasons they can neither predict nor control?
- hndamien 9y agoThe AUD against USD dropped close to 50% in a couple of weeks in 2008. It sucked having all of my wealth in AUD at that time. Recently a similar thing happened with BTC, but at least it was after a rapid gain. Diversification is the key. http://www.xe.com/currencycharts/?from=AUD&to=USD&view=10Y http://www.xe.com/currencycharts/?from=AUD&to=USD&view=10Y