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Bitcoin has really settled down in terms of price swings over the last year. It did have a major covid crash, but aside from that it's been very stable for the

Bitcoin has really settled down in terms of price swings over the last year. It did have a major covid crash, but aside from that it's been very stable for the past year. Keep in mind that the price moves also attract attention, and act as a sort of advertisement of its existence. It wouldn't get any mainstream coverage without the price moves.

prepend 6y ago
It’s definitely better this year, but I don’t want my currency to fluctuate 10%.
- pishpash 6y ago
  On what time scale? Currencies fluctuate 10% all the time over a year.
  - manquer 6y ago
    A typical volatility index measure like VIX( EVZ ?) could be good reference , there are few VIxes which look bitcoin as priced in USD
  - Carpetsmoker 6y ago
    BitCoin has fluctuated much more than 10% in the last year though: https://www.xe.com/currencycharts/?from=XBT&to=USD&view=1Y https://www.xe.com/currencycharts/?from=XBT&to=USD&view=1Y Certainly much more than USD/EUR: https://www.xe.com/currencycharts/?from=EUR&to=USD&view=1Y https://www.xe.com/currencycharts/?from=EUR&to=USD&view=1Y
  - imtringued 6y ago
    10% is an underestimate. BTC fluctuates by 50% or more.
- laichzeit0 6y ago
  Sure tell that to the Zimbabwe dollar, the South African Rand.. the Yen, etc. This is an ideal that doesn't exist in practise for all but a small handful of actual currencies.
  - prepend 6y ago
    I think that supports my point though right. Does anyone think the Zimbabwe dollar is a good currency? I think few choose to use it.
    - Siira 6y ago
      It’s hardly a choice for its country’s people. Governments in developing countries are very big bullies.
ajkdhcb2 6y ago
> Bitcoin has really settled down in terms of price swings over the last year. It did have a major covid crash, but aside from that it's been very stable for the past year. lol what? It went from $7000 to $10500 to $4000 to $10400... Blame it on covid if you want but the whole year has been this violent zigzag
- jes5199 6y ago
  that’s at least all in the same order of magnitude! only a couple years ago it was swinging much more wildly than that
  - dtech 6y ago
    But it has nothing on the established fiat currencies, where a >10% change in a year is (rightly) considered a major event Consider USD/EUR. In 2015 it was 0.9, and currently it's 0.89. It's peak and low was 0.96 and 0.8. That a 10% bandwidth around a stable average.
    - DennisP 6y ago
      Over the past year the DAI token on Ethereum has tracked the US dollar better than that, without requiring anyone to hold collateral off-chain. https://coinmarketcap.com/currencies/multi-collateral-dai/ https://coinmarketcap.com/currencies/multi-collateral-dai/
      - dtech 6y ago
        Pegging your currency to another currency and claiming it's more stable is cheating and doesn't really solve the problem. Like the US can stop PayPal from providing financial services, they can too stop banks from storing USD collateral to such parties. Also I don't agree with your "tracked better than that" claim: DAI/USD has a 15% drop and increase in a few months, about the same as USD/EUR in 5 years.
        Stevvo 6y ago

prepend 6y ago

It’s definitely better this year, but I don’t want my currency to fluctuate 10%.

pishpash 6y ago
On what time scale? Currencies fluctuate 10% all the time over a year.
- manquer 6y ago
  A typical volatility index measure like VIX( EVZ ?) could be good reference , there are few VIxes which look bitcoin as priced in USD
- Carpetsmoker 6y ago
  BitCoin has fluctuated much more than 10% in the last year though: https://www.xe.com/currencycharts/?from=XBT&to=USD&view=1Y https://www.xe.com/currencycharts/?from=XBT&to=USD&view=1Y Certainly much more than USD/EUR: https://www.xe.com/currencycharts/?from=EUR&to=USD&view=1Y https://www.xe.com/currencycharts/?from=EUR&to=USD&view=1Y
- imtringued 6y ago
  10% is an underestimate. BTC fluctuates by 50% or more.
laichzeit0 6y ago
Sure tell that to the Zimbabwe dollar, the South African Rand.. the Yen, etc. This is an ideal that doesn't exist in practise for all but a small handful of actual currencies.
- prepend 6y ago
  I think that supports my point though right. Does anyone think the Zimbabwe dollar is a good currency? I think few choose to use it.
  - Siira 6y ago
    It’s hardly a choice for its country’s people. Governments in developing countries are very big bullies.

ajkdhcb2 6y ago

> Bitcoin has really settled down in terms of price swings over the last year. It did have a major covid crash, but aside from that it's been very stable for the past year. lol what? It went from $7000 to $10500 to $4000 to $10400... Blame it on covid if you want but the whole year has been this violent zigzag

jes5199 6y ago
that’s at least all in the same order of magnitude! only a couple years ago it was swinging much more wildly than that
- dtech 6y ago
  But it has nothing on the established fiat currencies, where a >10% change in a year is (rightly) considered a major event Consider USD/EUR. In 2015 it was 0.9, and currently it's 0.89. It's peak and low was 0.96 and 0.8. That a 10% bandwidth around a stable average.
  - DennisP 6y ago
    Over the past year the DAI token on Ethereum has tracked the US dollar better than that, without requiring anyone to hold collateral off-chain. https://coinmarketcap.com/currencies/multi-collateral-dai/ https://coinmarketcap.com/currencies/multi-collateral-dai/
    - dtech 6y ago
      Pegging your currency to another currency and claiming it's more stable is cheating and doesn't really solve the problem. Like the US can stop PayPal from providing financial services, they can too stop banks from storing USD collateral to such parties. Also I don't agree with your "tracked better than that" claim: DAI/USD has a 15% drop and increase in a few months, about the same as USD/EUR in 5 years.
      - Stevvo 6y ago