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Topic: Bitcoin as currency? - page 2. (Read 1811 times)

sr. member
Activity: 378
Merit: 250
July 05, 2013, 04:51:20 PM
#4
I always say Bitcoin isn't a currency because of this. You measure Bitcoins by dirty fiat money to know how much they will buy you at any given moment. That seems a token/proxy to me, not a currency.

More like commodity to store value,but its volatility is scaring potential investors... We got 1:99 ratio...this pretty nice.....1% BTC in the exchange changes price affecting 99% of others....this just unbelievable and seems unfair to the rest 99%....
sr. member
Activity: 378
Merit: 250
July 05, 2013, 04:47:58 PM
#3
This because those  earlier adopters are panic ,they just selling regardless the price ,because at whatever price level they are making profit...
And those speculators , because MT.GOX itself is too essay to be manipulated, since the market size is too small....liquidity is not meet the needs.
N12
donator
Activity: 1610
Merit: 1010
July 05, 2013, 04:45:09 PM
#2
I always say Bitcoin isn't a currency because of this. You measure Bitcoins by dirty fiat money to know how much they will buy you at any given moment. That seems a token/proxy to me, not a currency.
legendary
Activity: 2212
Merit: 1008
July 05, 2013, 04:43:59 PM
#1
Bitcoin will never gain credibility if people can't use it as a currency that retains its purchasing power. It's like selling a TV one day then the next day all you have left is enough to buy a bigmac.
If you have a store that sells goods or services for btc you're better off closing up shop while value drops and re-open after the bottom is seen and the value goes back up. Unfortunately one whale with a lot of fiat can cause these drastic swings and that's exactly a tactic that will be used by those who wish to see bitcoin fail.
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