[2014-08-01] Coinapult eliminates Bitcoin volatility with ‘Locks’

cr1776

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Quote from: s.mouse on August 02, 2014, 08:08:50 AM

There's got to be a catch to this. How can they cover against the fluctuations? Doesn't seem right.

The other thread discusses it, but if they get bitcoin and then sell it for fiat, volatility in fiat terms is gone. Then you convert back to bitcoin when needed.

Seems like hype.

s.mouse

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There's got to be a catch to this. How can they cover against the fluctuations? Doesn't seem right.

SOAD

sr. member

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Quote from: kjlimo on August 02, 2014, 07:39:49 AM

Are details available on how this will work? (Link please)

I think this service will help transition us off fiat.

Is the advantage that the fiat can be remitted in BTC? I'm assuming for a fee?

I think this has some coolness so things can be settled in fiat, but pegged to fiat for the time being until it's no longer needed.

There's another thread on this in the press section where somebody explained it, though I don't think it will 'help transition us off fiat'. It doesnt seem revolutionary to me.

kjlimo

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Are details available on how this will work? (Link please)

I think this service will help transition us off fiat.

Is the advantage that the fiat can be remitted in BTC? I'm assuming for a fee?

I think this has some coolness so things can be settled in fiat, but pegged to fiat for the time being until it's no longer needed.

Beyonce

member

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Surfbort.

I don't see how this service will work anyway. I'd rather just keep a hold of my coins myself.

Kosta#

newbie

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Duplicate. Already discussed in this forum. Only idiots will use this service.

TraderTimm

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With other payment processors in the Bitcoin space going to zero-fee models, Crap-a-pult doesn't stand a chance. Besides, its run by the same guy who got fined by the SEC for breaking the law, not really someone you want handling your money.

IIOII

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Quote from: Lethn on August 01, 2014, 08:21:50 AM

That's a load of crap anyway, currency don't rise and fall magically and Bitcoin isn't 'losing' value it's the paper money that's losing value and being volatile because of how much money printing is going on and flooding the Bitcoin market, I seriously hope that exchanges aren't going to start suggesting price fixing next because this is what it's beginning to sound like.

Exactly. There isn't a real problem with volatility if you don't convert Bitcoin to fiat currencies. If you leave fiat out of the equation, the volatility of Bitcoin in relation to real goods would be much lower. Apart from that people can cope with a lot of volatility without any damage to economic activity. You just have to calculate the new rates which is no problem using computers (it wasn't a problem before the introduction of computers neither).

Volatility is an artificially created argument against the use of honest trade currencies like precious metals and bitcoin brought up by protagonists of the fiat currency scheme.

Lethn

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That's a load of crap anyway, currency don't rise and fall magically and Bitcoin isn't 'losing' value it's the paper money that's losing value and being volatile because of how much money printing is going on and flooding the Bitcoin market, I seriously hope that exchanges aren't going to start suggesting price fixing next because this is what it's beginning to sound like.

LiteCoinGuy

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In Satoshi I Trust

to late:

https://bitcointalksearch.org/topic/2014-07-28-cd-coinapult-launches-locks-a-tool-to-eliminate-bitcoin-price-vol-715363

Wink

cescan

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http://siliconangle.com/blog/2014/07/31/coinapult-addresses-bitcoin-volatility-with-locks/

One of the biggest hindrances in the wide adoption of Bitcoin is its price volatility. No one wants to invest, say $1,000, today and have that value drop by tomorrow. But neither has anyone attempted to address this issue and save investors a pretty penny – until now.

Topic: [2014-08-01] Coinapult eliminates Bitcoin volatility with ‘Locks’ (Read 950 times)