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This article is just a draft, it cannot be the final version. It's basically a press release on the crackdown over Liberty Reserve plus a quote by someone (not
by androidb 13y ago
This article is just a draft, it cannot be the final version. It's basically a press release on the crackdown over Liberty Reserve plus a quote by someone (not mentioned!) about Bitcoin - that's it. So the title is either a work-in-progress or a click-trap.
Bitcoins are steadily trading at $129 now, if the article was true there would be important fluctuations.
- ihsw 13y ago> Bitcoins are steadily trading at $129 now, if the article was true there would be important fluctuations. MtGox's BTC-USD exchange rate is currently trading at that price, and the price of BTC itself cannot be measured. The distinction is important, and hopefully in the future fiat currencies will be valued against BTC instead of the other way around.
- CJefferson 13y agoWhy is the distinction important? In practice, a currency's only purpose (as far as I know) is using it to buy things. Calibrating against USD, or GBP, or JPY, or gold value, or any other major stable currency, is equally good and gives a way of understanding the current value of BTC. How would you suggest we currently understand the value of a single BTC? Certainly BTC have been, and continue to be, much more unstable than any of these metrics.
- dragonwriter 13y ago> MtGox's BTC-USD exchange rate is currently trading at that price, and the price of BTC itself cannot be measured. Yes, it can. The price of a thing is exactly what buyers and sellers agree to exchange for it in the marketplace. You may be thinking of some value-related concept other than price, but price is very measurable.