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Really? The Japanese Yen is acting a lot like BitCoin the last few months, only it's going down, not up...
by ttrreeww 14y ago
Really? The Japanese Yen is acting a lot like BitCoin the last few months, only it's going down, not up...
- bowmessage 14y agoI think you might have missed yesterday's bitcoin events, the bubble popped.
- DavidBradbury 14y agoBut that's okay, because bitcoins aren't "real money".
- enoch_r 14y agoThis is true for a rather extreme value of "a lot": The USD is worth about 7.3% more JPY today than on January 25, and 300% more BTC today than yesterday.
- InclinedPlane 14y agoThe Yen has fluctuated between 125 per USD and 75 per USD over the past 10 years. BTC has fluctuated between $260 USD per and $120 per over the last 10 days. These are horses of a different color.
- ttrreeww 14y agoThe Yen has lost close to 25% of it's value in the last few month. We are talking trillion+. Bitcoin is like thousands of times smaller, so volatility adjusted for size/time, the two are similar.
- InclinedPlane 14y agoYes and no. Because international exchange values are not always completely relevant to real currencies. Exchange rates impact the cost of exports and imports, and a weak exchange rate can actually be a good thing sometimes because it makes export goods more competitively priced. Meanwhile, back home the cost of bread, or housing, or smartphones may not fluctuate at all so the currency is still plenty stable. With a pseudo-currency like bitcoin that is dominated by speculation the exchange rate is pretty much everything.