If its price is extremely volatile its not a stable store of value. Period.
So USD is not a stable store of value.Within one or two hours, the USD price went up from 1.4 mBTC to 1.9 mBTC, and now down again. That's extremely volatile!
Topic: Bitcoin is already the most stable store of value. - page 3. (Read 2369 times)
Within one or two hours, the USD price went up from 1.4 mBTC to 1.9 mBTC, and now down again. That's extremely volatile!
I got 8% earning this time,which satisfied me. 
this drop was accompanied by only an 8K sell order at around $105... that's a drop in the bucket compared to the massive quantities of coins the top couple percent of holders have. Everybody is criticizing this seller but if I had 50,000 BTC from being an early adopter that I got for almost nothing and I wanted to get out fast for no other reason than to lock in real profits, setting a low price would be an easy way... though that's pretty low.. he could have set it at 300-400 instead.
Not trying to be an alarmist and perhaps I even believe in bitcoin long term but these top heavy holders need to sell or there will always be uncertainty and an alt coin with a more distributed coinbase (such as NEM New Economy Movement) will end up gaining ground.
Any coin with a top heavy concentration will have potential issues in an unregulated environment like this. Dare I say dogecoin would be more stable simply because it has more users.
Not trying to be an alarmist and perhaps I even believe in bitcoin long term but these top heavy holders need to sell or there will always be uncertainty and an alt coin with a more distributed coinbase (such as NEM New Economy Movement) will end up gaining ground.
Any coin with a top heavy concentration will have potential issues in an unregulated environment like this. Dare I say dogecoin would be more stable simply because it has more users.
You might as well say that it dropped to $102, because that is what btc-e shows. Still, this is one of many intra-day dips we've seen, doesnt need to change your personal view on bitcoin's future value.
Bitcoin's price volatility is caused by the simple fact that many holders are unwilling to sell at whatever price or whatever event right now. That is a sign of stability to me. It's all about it's subjective value to the market participants. If you could graph that you would see it doesnt budge much with the holders of 80% of all bitcoins.
The only reason it doesnt rise further seems to be that believers are already heavily invested in bitcoin and can't take on any more exposure to it.
Bitcoin's price volatility is caused by the simple fact that many holders are unwilling to sell at whatever price or whatever event right now. That is a sign of stability to me. It's all about it's subjective value to the market participants. If you could graph that you would see it doesnt budge much with the holders of 80% of all bitcoins.
The only reason it doesnt rise further seems to be that believers are already heavily invested in bitcoin and can't take on any more exposure to it.
definitely not stable if it can drop from 600 to 540 then back to 630 now 620 on bitstamp in a matter of minutes
The problem is with the people. As it currently stands it cant be a good store of value simply down to the volatility.
I couldn't care less what the price is doing at the moment. Doesn't rock my boat at all..
So from my perspective it is as stable as a rock.
The market price is a public weighted average of the value people give to it privately. Many people value it much higher and won't sell. Others value it lower and won't buy.
The value I give to a bitcoin hasn't budged an inch in the past months. That is the only measure of stability I care about when looking at bitcoin.
So from my perspective it is as stable as a rock.
The market price is a public weighted average of the value people give to it privately. Many people value it much higher and won't sell. Others value it lower and won't buy.
The value I give to a bitcoin hasn't budged an inch in the past months. That is the only measure of stability I care about when looking at bitcoin.
If its price is extremely volatile its not a stable store of value. Period.
What is a better store of value in the mind of the owners?
One that gets thrown on the market after only the smallest change in the market variables? Or one that people want to hold no matter what the market does?
The price elasticity of demand for bitcoin is very small. This means the price can move a lot without leading to extra bitcoins being released from people's coffins. The bitcoin market is very shallow, which is one reason behind the relatively high price volatility.
This is a sign of strength of bitcoin, not of weakness. Bitcoin owners have no doubt about it's future!
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