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They laugh at it of course. What else can you do about a "currency" invented by an unknown entity, loved by videogamers and whose total circulation is below the

They laugh at it of course. What else can you do about a "currency" invented by an unknown entity, loved by videogamers and whose total circulation is below the GDP of mongolia?

ropman76 13y ago
First they ignore you, then they laugh at you, then they fight you, then you win
- robitor 13y ago
  so brave
Hoozt 13y ago
As if fiat currency were so much more stable; as if "modern" currencies such as the euro hasn't been a complete fiasco. I don't see your point here, although, it does actually answer the question in some way, at least if you are part of the group of people mentioned in the topic.
- deeths 13y ago
  By the obvious definition of "Stable" of "Not subject to sudden or extreme change or fluctuation," I don't understand how you can compare the stability of Bitcoin as in the same league as traditional currencies. BitCoin's 1000% rise in 3 months would seem to put it well outside the traditional conception of stable. Keep in mind, since the benefit of currency stability is to protect both buyers/borrowers and sellers/lenders, a rise is as damaging to stability as a fall (just impacting a different segment of the transaction). While there are a few examples of fiat currency experiencing hyperinflation, it's almost always been the result of extreme political uncertainty. In a normally functioning political environment, the change in currency value may still be significant, but tends to be fairly stable (even if it changes, it changes within a predictable range). That's clearly not the case with bitcoin.
soneca 13y ago
Too much straw men on these answers. I have lot friends in finantial (though not exactly in Wall Street, as I am in Brazil, they tend to think the same way), and the opinions are divided between being a big thing, being a dangerous thing and being a thing to risky and unstable to actually become big someday. But none is "laughing at it" as a toy (anymore).

They laugh at it of course. What else can you do about a "currency" invented by an unknown entity, loved by videogamers and whose total circulation is below the GDP of mongolia?

ropman76 13y ago

First they ignore you, then they laugh at you, then they fight you, then you win

robitor 13y ago
so brave

Hoozt 13y ago

As if fiat currency were so much more stable; as if "modern" currencies such as the euro hasn't been a complete fiasco. I don't see your point here, although, it does actually answer the question in some way, at least if you are part of the group of people mentioned in the topic.

deeths 13y ago
By the obvious definition of "Stable" of "Not subject to sudden or extreme change or fluctuation," I don't understand how you can compare the stability of Bitcoin as in the same league as traditional currencies. BitCoin's 1000% rise in 3 months would seem to put it well outside the traditional conception of stable. Keep in mind, since the benefit of currency stability is to protect both buyers/borrowers and sellers/lenders, a rise is as damaging to stability as a fall (just impacting a different segment of the transaction). While there are a few examples of fiat currency experiencing hyperinflation, it's almost always been the result of extreme political uncertainty. In a normally functioning political environment, the change in currency value may still be significant, but tends to be fairly stable (even if it changes, it changes within a predictable range). That's clearly not the case with bitcoin.

soneca 13y ago

Too much straw men on these answers. I have lot friends in finantial (though not exactly in Wall Street, as I am in Brazil, they tend to think the same way), and the opinions are divided between being a big thing, being a dangerous thing and being a thing to risky and unstable to actually become big someday. But none is "laughing at it" as a toy (anymore).