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re: Predict the 12/31/2014 bitcoin price (plus 2013 year in review)
Posted on 1/3/14 at 3:38 pm to cokebottleag
Posted on 1/3/14 at 3:38 pm to cokebottleag
quote:
Not to bring Austrian logic in here, but currency has a purpose, and it isn't to buy low, sell high. Once Bitcoins top out at the 21 million or so, everyone is going to sell as fast as they possibly can. If you truly think bitcoin is a currency right now, then you should start looking for other extremely volatile currencies like Argentine or Libyan and short-sell.
I mostly lurk the MB, but this is what confuses me about BitCoin. Doesn't seem very stable, why would you want to use that as a "currency"?
2
Posted on 1/3/14 at 3:47 pm to bamafan425
quote:
I mostly lurk the MB, but this is what confuses me about BitCoin. Doesn't seem very stable, why would you want to use that as a "currency"?
It doesn't have to be stable right now. It's in the hypermonetization stage right now. It won't be stable until it finds its true value, whatever that is.
Bitcoin is also a lot more than just a currency. This is the fatal mistake that most people make when assessing it. Bitcoin is a robust transaction network in which the first application on it is a currency. It can and will eventually be used for other purposes, such as notary, title, escrow and stock exchanges. Most people discount bitcoin without ever truly understanding it. Trust me, this board is a perfect example of it.
This post was edited on 1/3/14 at 3:48 pm
Posted on 1/5/14 at 8:57 pm to bamafan425
quote:
Doesn't seem very stable, why would you want to use that as a "currency"?
For a currency you don't need stability so much as you need universal acceptance as a method of payment.
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