Bitcoin seems to be the most unstable currency in the world. Unless you're buying it as an arbitrage opportunity (which ultimately makes the currency even more unstable), then there's no point in holding it. Currency requires stability and bitcoin seems to be the opposite of that. Outside of being a tool of money laundering or drug purchases, what's the point? Why would you convert your money to a currency that fluctuates so rapidly.
As I've said before, I think of buying bitcoin as buying equity units in the first decentralized startup. Thinking of it like currency is limiting the scope which unfortunately seems to be the only aspect anyone cares about.
It's a commodity, which can trade like a stock, but is also equity in this distributed, P2P ledger technology. Which is currently a fringe currency, but can be used as a de facto currency down the line.
wow, Coinbase has raised $75 million in VC funding, from some big companies http://blog.coinbase.com/post/108642362357/coinbase-raises-75m-from-dfj-growth-usaa-nyse very encouraging given the recent decline in price
http://a16z.com/2015/01/22/bitcoin-and-blockchain/ Balaji of a16z with a blog post on bitcoin's institutional acceptance, new payment types, and price-independent applications Basically everything I've said but for whatever it's worth he's probably a lot smarter than I am... got paid today and made my weekly buy
wanted to post this here too.. www.vacationpesos.mx cheap way to send money (USD-btc) to Mexico and receive as same-day cash (pesos) at 6000+ ATM locations behold the utility value of bitcoin!
"There’s a lot that Bitcoin or Ripple and variants can do to make moving money between countries easier and getting fees down pretty dramatically. But Bitcoin won’t be the dominant system. When you talk about a domestic economy, [you must have] the idea of attributed transactions, where if you sent it to the wrong person you can actually get the transaction reversed. [And a traditional system] doesn’t have this huge fluctuation where the value of your account is going up and down by a factor of two. We need things that draw on the revolution of Bitcoin, but Bitcoin alone is not good enough." - Bill Gates
Bill says this about the price and its true.. but things that are price agnostic will utilize the bitcoin blockchain cementing its usefulness sending bitcoin to the wrong address is actually hard, mathematically speaking. and well designed software would never let that occur. add in the use of trusted 3rd parties guaranteeing transactions, and those issues go away.
it feels like pumping and dumping going on price goes down, then we get a rash of big positive news and the price goes up some, only to fall even lower later on
Feels like pumping and dumping only if all you pay attention to is price during arbitrarily chosen time periods. Or its use as a currency, solely When looking at the 6 year price range, history of previous crashes compared to the level of infrastructure development occurring during this "crash" it feels nothing like a classic pump n dump.
I used the coinvault operated bitcoin atm at the GRB convention center today. 5% fee but I only bought $20 worth. Good experience overall
Nature of the beast .. for now <img src =http://www.brainlesstales.com/images/misc/bitcoin-roller-coaster.gif>
Supernintendo Lawsky has released the revisions to the NYDFS BitLicense now open to 30 day comment period regulations!! wooooO!!!
