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Commodities are volatile and seasonal Bitcoin is a commodity steered by the same level of supply and demand pressures but held to a higher fictional standard b
by gammateam 8y ago
Commodities are volatile and seasonal
Bitcoin is a commodity steered by the same level of supply and demand pressures but held to a higher fictional standard by people that trade and evaluate it like a different asset class (equities)
- tim333 8y agoIt's not really a commodity like oil. I feel The Onion was closer in calling it "crazy imaginary internet money" https://www.theonion.com/bitcoin-plunge-reveals-possible-vulnerabilities-in-craz-1821134169 https://www.theonion.com/bitcoin-plunge-reveals-possible-vul...
- gammateam 8y agoWhy isnt it also a commodity like oil? it is the fuel for its blockchain. You cant use that public resource without it. It is built to plunge and surge just like oil prices do, based on supply and demand, which also comes in seasons just like oil. Most commodities have seasonal patterns. Bitcoin trades like those. It isnt controversial when a conmodity plunges and surges. Its actually better for different parts of the population at different times.