Eventually, Bitcoin will not be so subject to wild swings in purchasing power. We will think in terms of bitcoin not dollars. In fact bitcoin has the potential to be more stable in perceived value than do government currencies based on debt.
Every day the value of the dollar goes up or down, yet in our daily lives we rarely think about that. Behind the scenes though, the value of the dollar changing from day to day as it does is a very important consideration in trade between countries and the purchases of large amounts. You just don't see it if your personal financial world is confined to your own narrow space of buying the weeks groceries or purchasing clothes, etc, though you likely know that, in the long run, the purchasing value of your dollars is falling down down down.
Don't count on bitcoin being tied to some sort of dollar value in the minds of its users forever. Eventually it will stand on its own. Who knows, maybe one day people will be talking about dollars being worth X-number of bitcoins! The way the US dollar is heading, we may be buying paper dollars with our bitcoins for pulp scrap to be remade into useful paper products.
Every day the value of the dollar goes up or down, yet in our daily lives we rarely think about that. Behind the scenes though, the value of the dollar changing from day to day as it does is a very important consideration in trade between countries and the purchases of large amounts. You just don't see it if your personal financial world is confined to your own narrow space of buying the weeks groceries or purchasing clothes, etc, though you likely know that, in the long run, the purchasing value of your dollars is falling down down down.
Don't count on bitcoin being tied to some sort of dollar value in the minds of its users forever. Eventually it will stand on its own. Who knows, maybe one day people will be talking about dollars being worth X-number of bitcoins! The way the US dollar is heading, we may be buying paper dollars with our bitcoins for pulp scrap to be remade into useful paper products.
Agree 100% - but i never once mentioned dollars!!! me talk in euros.
Of course the price can go down.. but if i sold something last week for €1000 @ eur/btc = €107 i ask for 9,35 btc..
Today i do my accounts.. and that sale is now worth €1322 = i win.. profit margin is up around 200%..
and the overall trend (to me anyway) seems up.. reward : risk ratio is worth it
