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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 th

> 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
        DAI is not backed by Usd collateral, the collateral is a basket of other crypto currencies.
tluyben2 6y ago
Yep, from the point of stability that sucks obviously; there are stablecoins though. I still like BTC as a speculator (and I know it's almost nothing more than gambling, but considering coin tossing, dart throwing or monkeys outperform professional stock investors/fund managers (at least there are a ton of articles saying that), it all sounds like gambling), I create a nice living wage doing nothing at all but clicking buy/sell a few times a year. And that is only running on profits (so all money I 'invest' is profits made with btc alone) from when I bought a stack of btc end of 2016 because something seemed to be happening and by golly it was. As long as it works, it works. Good or bad; whatever works... It's a nice extra on top of my day job.

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
      DAI is not backed by Usd collateral, the collateral is a basket of other crypto currencies.

tluyben2 6y ago

Yep, from the point of stability that sucks obviously; there are stablecoins though. I still like BTC as a speculator (and I know it's almost nothing more than gambling, but considering coin tossing, dart throwing or monkeys outperform professional stock investors/fund managers (at least there are a ton of articles saying that), it all sounds like gambling), I create a nice living wage doing nothing at all but clicking buy/sell a few times a year. And that is only running on profits (so all money I 'invest' is profits made with btc alone) from when I bought a stack of btc end of 2016 because something seemed to be happening and by golly it was. As long as it works, it works. Good or bad; whatever works... It's a nice extra on top of my day job.