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Given equal liquidity, a purer market should deliver less volatility than an actively managed one.

• gahahaha 13y ago
  That reads like a credo.
  • alexeisadeski3 13y ago
    Both systems contain massive speculator involvement. Only one system contains single overarching actor with ability to manipulate values at will. Pretty obvious which will be more stable.
    • gahahaha 13y ago
      History shows pretty clearly that actively managed currencies with a central bank are far more stable than for example gold or bitcoin. I don't see how you can argue otherwise.
    • alexeisadeski3 13y ago
      @gahahaha All historic gold currencies I know of were actively managed: Debasement, re-pegging, temporary abandonment to pay off debts via inflation - all were common practice under gold standard. None are (should be) possible with Bitcoin.