^^Which will happen first and/or who needs stability anyway, since a wild ride is much more fun and opens up many opportunities.
Topic: [2014-08-17] So Much For that Boring Bitcoin Market (Read 711 times)
Bitcoin "stability" vs Gold ...or "stability" vs fiat?
^^Which will happen first and/or who needs stability anyway, since a wild ride is much more fun and opens up many opportunities.
^^Which will happen first and/or who needs stability anyway, since a wild ride is much more fun and opens up many opportunities.
http://blogs.wsj.com/moneybeat/2014/08/13/bitbeat-so-much-for-that-boring-bitcoin-market/
Ever since Monday, bitcoin has been under pressure, and today the floor got pulled out from under it. At one point, Coindesk’s Bitcoin Price Index got as low as $524.33, down 7.7% from Tuesday’s close. It has since rebounded a bit and is now off “just” 4.1%, but that kind of whiplash is discomforting to anyone who’d bought into the thesis that the digital currency was starting to exhibit the stability that would bolster its appeal as a medium of exchange. People tend not to like currencies whose exchange rates swing like this, not when its’ a frequent event.
Ever since Monday, bitcoin has been under pressure, and today the floor got pulled out from under it. At one point, Coindesk’s Bitcoin Price Index got as low as $524.33, down 7.7% from Tuesday’s close. It has since rebounded a bit and is now off “just” 4.1%, but that kind of whiplash is discomforting to anyone who’d bought into the thesis that the digital currency was starting to exhibit the stability that would bolster its appeal as a medium of exchange. People tend not to like currencies whose exchange rates swing like this, not when its’ a frequent event.
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