3 ms·
The turkish lira has been at least as volatile as BTC in the last couple of years; Bitcoin is about as much a currency.
by beagle3 8y ago
The turkish lira has been at least as volatile as BTC in the last couple of years; Bitcoin is about as much a currency.
- oarsinsync 8y agoExcept the Turkish Lira is legally recognised as currency, and Bitcoin is legally recognised as a commodity (and thus, subject to CGT)
- beagle3 8y agoYes. I read GP’s “current state” to mean volatility, but it could mean legal state.
- dagw 8y agoThe turkish lira has been at least as volatile as BTC How are you defining volatility? Because by any reasonable metric that is absolutely not true.
- beagle3 8y agoThe usd/try had a range of 4-7, Bitcoin had 3K-5K in the last year (and if you asked a month ago it would have been 3k-4K). Also by some measures of statistical deviations, BTC was less volatile.
- dagw 8y agoThe original post said past couple of years and BTC was very volatile in that period with a range of 1K-18K. Secondly BTC has not been in the range 3K-5K over that last year, but rather 3K-10K. Admittedly January-March this year has been relatively calm on the bitcoin front, but the past couple of weeks have been bumpier again.
- beagle3 8y agoYou are right, I meant "last year" when I wrote "last couple of years", and should have in fact written "last 6 months". Or I should have referred to the Zimbabwe currency...
- dagw 8y agoOr I should have referred to the Zimbabwe currency... The Zimbabwe Dollar would be a perfect example. It hasn't been a currency for a decade now and ceased being used as currency many years before that, precisely because it was so unstable. Once official currencies stop being used as currency (first unofficially and then officially) all the time if they don't behave in ways people expect currency to behave.
- qntty 8y agoForex traders pay capital gains, no?
- beagle3 8y agoOnly when they do that for a living. IIRC there are different rules for occasional currency conversion by individuals.