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I would say volatility must decrease for it to thrive. Bitcoin needs to transition from a currency for speculators to a currency for consumers.
by agorinto 13y ago
I would say volatility must decrease for it to thrive. Bitcoin needs to transition from a currency for speculators to a currency for consumers.
- mrb 13y agoCorrect: thriving, not surviving. (I would not have made my remark, had the author used "thriving" in place of "surviving"). And we are not yet at the point where Bitcoin needs to reduce its volatility to further grow. My prediction is that there is still room for Bitcoin to grow (and it will), over the next 1-2 years, and yet volatility is going to remain just as pronounced as today. I say this because so far, its adoption curve shows no sign of slowing down.
- XorNot 13y agoYet it looks exactly like the peak -> crash curve of its own history. People we claiming the same thing of real estate in the US in 2008 as well. Yet the correct analysis is still that there's no real reason for Bitcoin too grow - it can't extinguish tax obligations, and any move by governments to tax BTC profits will tank it because payment will have to be made in their currency, not BTC. No one has any reason to hold onto BTC if they're not speculating.