You're stuck in the mode of thinking of bitcoin from the single use case of a speculator buying bitcoins as an investment, like gold. Bitcoin is much more than this - it is a technology with many uses. You need to get past this and think of how bitcoin will be used in the future once it's big and has serious adoption.
The future of bitcoin is not supposed to be merely as a speculation or an investment. It is supposed to also be a payment gateway, store of value, and a form of programmable money, used by large enterprises. When it comes to business and accounting, stability is in demand and very important for the books, especially when it comes to things like contracts and lending. The special features of bitcoin are the reason why bitcoin would be used, and not because the value of a bitcoin might go up. The change in value might not neccessarily be desired, especially if it creates an unfair advantage for a party in a transaction or messed up accounting books.
Perhaps more importantly, another point is that the price isn't limited to just going up - it can go DOWN also. Just because it has historically gone up for 4 years (which is not really that long), doesn't mean it's guaranteed to do that for the rest of eternity, or even over the next year. World-related and bitcoin-related events can change the trend at any time, and even the current price history is littered with 50-80% crashes and that horrible 2011 crash. You as a bull might have confidence that the value will be restored and that the trend will last forever, and will be willing to wait. However, this is completely unacceptable to a business and that is not how they want a currency to function - it makes it very unusable for them.
Topic: "A currency that increases in value is a terrible thing" - page 3. (Read 3019 times)
But eventually it would reach a point where I'd like my dollars to stop getting less valuable..... (hypothetically speaking)
The greatest myth of economics is that inflation is a natural and good thing. they will believe it to the end.
The greatest myth of economics is that inflation is a natural and good thing. they will believe it to the end.
Bitcoin's volatility is only a problem when prices consistently drop. When it's rising, nobody complains.
That's what the volatility complaint boils down to as far as I can tell. The question is: Why? Why do people think it is bad that the value of their holdings goes up? People are literally saying that for bitcoin to be able to be used as a currency the price needs to stop increasing. What the hell is that about?
Jump to: