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"Currently, hoarders are the ones benefiting from BTC, but no one else is." That's not true, BTC has many benefits to bitcoin users. There's plenty of bitcoin-

by nawitus 14y ago

"Currently, hoarders are the ones benefiting from BTC, but no one else is." That's not true, BTC has many benefits to bitcoin users. There's plenty of bitcoin-only services, but more importantly, it provides freedom for many people who are facing government regulation. In the long run, bitcoin enables all kinds of innovation (good example is reddit's bitcointip service, which wouldn't really exist without bitcoins).

dragontamer 14y ago
And tell me, what is a good BTC tip today? 1BTC used to be a decent tip at $5. Today that is a $100 tip I'm giving someone. Anyone who gave money to Bitcointip is suffering from the volatility in the marketplace. A true BTC enthusiast will be happy when BTC stops moving. It doesn't matter what value BTC has, as long as it is constant. Only hoarders want BTC to keep going up and up in value.
- drivebyacct2 14y ago
  Huh? Just... don't tip 1 BTC? For example, the bitcointip bot on reddit will take USD values, use the current mtgox price and then tip the equivalent amount in BTC. Of course the person receiving the tip is affected by volatility compared to USD. For now, it's certainly in their favor, and again, it's no different than other currency except BTC's high current volatility.
  - dragontamer 14y ago
    The volatility of a currency is one of the most important metrics. It really doesn't matter if a currency is inflating or deflating. It just shouldn't change that much over time. The less it changes, the better. (or, if it is changing, then it should at least change consistently. IE: People expect USD to inflate at 3% so it should). Since no one can predict the value of BTC next week, or hell... even tomorrow's price of BTC... it becomes a very hard to use currency.
- gnaritas 14y ago
  > . It doesn't matter what value BTC has, as long as it is constant. That'll never happen, bitcoin is doomed by math and economics to be forever a deflationary currency, worth ever more and more over time as the economy grows while the supply of bitcoins doesn't.
- DennisP 14y ago
  If it were to stop moving in the near future, BTC would be stuck at minor-currency status with a $1 billion valuation. I'll be happier if it stops moving with a $1 trillion valuation, so lots of people can use it instead of just a few geeks and druggies.

by nawitus 14y ago

dragontamer 14y ago

And tell me, what is a good BTC tip today? 1BTC used to be a decent tip at $5. Today that is a $100 tip I'm giving someone. Anyone who gave money to Bitcointip is suffering from the volatility in the marketplace. A true BTC enthusiast will be happy when BTC stops moving. It doesn't matter what value BTC has, as long as it is constant. Only hoarders want BTC to keep going up and up in value.

drivebyacct2 14y ago
Huh? Just... don't tip 1 BTC? For example, the bitcointip bot on reddit will take USD values, use the current mtgox price and then tip the equivalent amount in BTC. Of course the person receiving the tip is affected by volatility compared to USD. For now, it's certainly in their favor, and again, it's no different than other currency except BTC's high current volatility.
- dragontamer 14y ago
  The volatility of a currency is one of the most important metrics. It really doesn't matter if a currency is inflating or deflating. It just shouldn't change that much over time. The less it changes, the better. (or, if it is changing, then it should at least change consistently. IE: People expect USD to inflate at 3% so it should). Since no one can predict the value of BTC next week, or hell... even tomorrow's price of BTC... it becomes a very hard to use currency.
gnaritas 14y ago
> . It doesn't matter what value BTC has, as long as it is constant. That'll never happen, bitcoin is doomed by math and economics to be forever a deflationary currency, worth ever more and more over time as the economy grows while the supply of bitcoins doesn't.
DennisP 14y ago
If it were to stop moving in the near future, BTC would be stuck at minor-currency status with a $1 billion valuation. I'll be happier if it stops moving with a $1 trillion valuation, so lots of people can use it instead of just a few geeks and druggies.