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Message
Anyone Into Bitcoin Has To Be Really Happy This Month
Posted on 5/27/13 at 9:11 am
Posted on 5/27/13 at 9:11 am
quote:
Regardless of what you think about Bitcoin's viability as a currency that people actually use, it should be clear that one pre-requisite is price stability.
quote:
And stability is exactly what Bitcoin has been displaying of late.
LINK
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Posted on 5/27/13 at 9:25 am to gizmoflak
Just a theoritical question, or two. The price of Bitcoins has stabilized against the Dollar. However, the Dollar is a fiat currency of which billions more are put into circulation monthly under Quantitative Easing. Thus the purchasing power of the dollar is decreasing. Doesn't that mean the purchasing power of a Bitcoin is also decreasing? Have Bitcoins really achieved price stability?
Posted on 5/27/13 at 9:28 am to gizmoflak
It's negative for the month of may. Not sure why that breeds happiness for bitcoiners
Posted on 5/27/13 at 9:30 am to C
quote:
It's negative for the month of may. Not sure why that breeds happiness for bitcoiners
Regardless of what you think about Bitcoin's viability as a currency that people actually use, it should be clear that one pre-requisite is price stability. And stability is exactly what Bitcoin has been displaying of late.
Posted on 5/27/13 at 9:34 am to Poodlebrain
quote:
Just a theoritical question, or two. The price of Bitcoins has stabilized against the Dollar. However, the Dollar is a fiat currency of which billions more are put into circulation monthly under Quantitative Easing. Thus the purchasing power of the dollar is decreasing. Doesn't that mean the purchasing power of a Bitcoin is also decreasing?
It means that bitcoins are much much more stable than they were a month or two ago. It doesn't mean the price has flatlined w/r/t the dollar.
quote:
Have Bitcoins really achieved price stability?
over the course of about 30 days, sort of.
over the course of several years, no.
Posted on 5/27/13 at 2:03 pm to gizmoflak
I thought it stabilized only after there was accusations of manipulation due to 'hacks'?
MtGox got scared and quit that BS
MtGox got scared and quit that BS
Posted on 5/27/13 at 2:18 pm to gizmoflak
Well since 85% of bitcoin exchanges were handled through Mt.Gox which is no longer in operation, of course the price would stabilize, NOBODY IS EXCHANGING THEM. what are US stocks doing today? NOTHING, the market is closed.
Posted on 5/27/13 at 2:23 pm to Vols&Shaft83
quote:
Mt.Gox which is no longer in operation
What the frick are you taking about? Mtgox is still up and running as normal except one funding source in the US is unavailable
This post was edited on 5/27/13 at 2:25 pm
Posted on 5/27/13 at 2:31 pm to gizmoflak
Can "much, much" more stable really be claimed for something that was so volatile a month ago? The media attention has died off, therefore the reduced trading.
Regardless, I would like to see Bitcoin succeed because frick the Fed.
Regardless, I would like to see Bitcoin succeed because frick the Fed.
Posted on 5/27/13 at 2:39 pm to WikiTiger
quote:
What the frick are you taking about? Mtgox is still up and running as normal except one funding source in the US is unavailable
Whatever, the point is less activity on the exchanges = less volatility. Bitcoin hasn't been in the news lately, so I guess that's a good thing, or people are losing interest.Posted on 5/27/13 at 3:40 pm to Vols&Shaft83
quote:because it hasn't been volatile lately. Stable = boring.
Bitcoin hasn't been in the news lately
See how that works?
Meanwhile, it's trading at $130+
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