3 ms·
You can't have 20-40% weekly swings in an asset and still expect to use it as currency. Neither merchants, nor consumer can trust it, and speculators just sit o
by macspoofing 13y ago
You can't have 20-40% weekly swings in an asset and still expect to use it as currency. Neither merchants, nor consumer can trust it, and speculators just sit on it and distort the entire market. I hate that Bitcoin as a currency is almost worthless.
- oznathan 13y agoGive it some time. A child crawls before it starts walking.
- macspoofing 13y agoI'd buy that, but bitcoin is inherently deflationary. That's a problem for a currency. The more popular it gets, the worst it gets.
- danoprey 13y agoEvery new currency has to go through that. That's unavoidable for a small, relatively new currency. With every boom and smaller bust it grows larger and more stable.
- vkou 13y agoNew currencies aren't born in a vaccum. When the US switched off the gold standard, the price of a bag of rice at the grocery wasn't changing by 10% every other day.