Topic: Bitcoin isn't a volatile asset. It is something else entirely. (Read 1581 times)

it less volatile now than it ever was back then, we should be happy about that, they said that a stable price would increase adoption, well it seems that they were wrong afterall or we are just at the beginning

and competition(not talking about "clone coins" here) should be good for bitcoin, will bring down the volatility even more because everyone will start spreading their money

It's a belief of many people that bitcoin is volatile..and ya i think its volatile at present but in future the case would not be the same at present you can afford to invest in bitcoins as the future of bitcoin is safe ya it will face the competition with some new technology as well but it will not be dead.

"you can sell money for bitcoin", that implies that bitcoin is not money. So no, I say that bitcoin is money. There are other kinds of money of course, so it would be "you can sell other kinds of money for bitcoin".

Its considered multiple directions at this moment.

Yes, you can sell money for bitcoin and also trade for real gold that accepts it with bitpay. But, the technology should be considered more important then anything with a public ledger on howe do finance.

If it is too low for reddit, post here.

Mr Pegasus, how do you decide whether to post on reddit or here?

Don't worry Oblivi, they won't do that.   
 
Bitcoin is in a public beta test to serve as the foundation for a new era of Western Finance.   
 
And the creators of it were smart to do it this way because it allows it to succeed or fail all on its on, while ironing out the problems and bugs. 
 
By the time it's ready for prime time, bitcoin will have had a decade of beta testing behind it.

    
"Re: Bitcoin isn't a volatile asset. It is something else entirely. "

Yep, it is money.

It's not killable, but if the powers that be decided to ruined, im afraid they could to a certain extend, towards massive negative press, aggressive laws against holders, buyers and sellers and whatnot. They could scare a lot of people away and cause a crash. Of course, there would always be people that aren't pussied out by the tyrants running Bitcoin nodes and Bitcoin would survive, but as a underground currency, not the mainstream success we want. It basically depends on the people, if they want to keep getting buttfucked by the fiat system or support BTC no matter what. If no one gives a fuck about their laws and whatnot, there is nothing they could do without causing a massive revolution (they would to basically go inside people's houses and shit, and they know that wouldn't benefit them).

What a freaking troll. Seriously.

"Maybe you have never learned to compare a worth with other things than money?"

GO READ MY FREAKING POST. I EVEN BOLDED IT FOR YOU............................................................................ ...................

Greed may have been the reason for a lot of people to buy bitcoins during the 2013 bull run. Now there are more fundamental factors at play. Applications are being built on top of the blockchain. Millions of dollars are being poured into Bitcoin start-ups.
Bitcoin has utility value, even if people are not greedy about its rising price.

Sure, i read yours! And it seems it becomes a fundamental discussion.
I wrote already, it can become useless! This includes your option "if nobody accept it". But it is not the same like worthless! seriously!
What is bitcoin really worth? And is it the best way to compare the worth of bitcoin with fiat money? Maybe you have never learned to compare a worth with other things than money?
Hey, Bitcoin was created as a alternative to the things which you use today for the comparison of it's worth! The idea behind it is, Bitcoin replaces fiat!
And your fiat/USD is absolute not stable in comparison with natural things like food or oil!
By the way, bitcoin is only few years old. That it seems high volatile comes from the comparison with fiat, the speculation about the worth and also the profit thoughts of the people. Mainly from the people who mined the main part of bitcoins in the past. But this period seems over now.
The next step is acceptance and popularity.
And if the mass of people on earth use bitcoin in the future, then it will be much more stable as your USD. But this is a long way, i believe.

Sigh, you quote me but you didn't even read it. Seriously. Bitcoin can become worthless. If no one accepts it, it's worthless. simple.

No, the opposite is the case. Bitcoin isn't volatile, but every fiat currency is it. It is only your way of thinking why you say bitcoin is volatile.
I say bitcoin can't be volatile in reality, but fiat can be simple volatile. It is so easy to change/manipulate values of a fiat currency (
and it is unpredictable). That's why satoshi nagamoto has created bitcoin!
You say bitcoin moves up or down... I say it can't. Your fiat moves up and down! If you guys say: "oh bitcoin raise, it becomes expensive, oh it reaches thousand dollar and more", then i say: "oh look all the fiat becomes cheap and cheaper"!
But! In the other direction, Bitcoin can't become worthless, it has a limited amount of coins. It can be useless, but why it should? Your fiat money can become worthless, that's why it is regulated by states and banks. And exactly this makes the fiat currency volatile against all the other things, which have a real worth weighed on the benefits.

Ok, where are you going with this? What's the hidden message?

well it depend who view it as a good or as a evil, for bitcoiner is a good "virus", for the banks bitcoin is an evil virus, because is trying to upset their "ecosystem"

your last part of this post is talking basically about evolution, where some will adapt and survive, and the other will not, and will die, it was always like that in this reality

I agree that bitcoin isn't the main reason why "greediness" is observed in it. It is the "value" that pushes the people to be greedy resulting to several scams and fraud that is happening within the bitcoin ecosystem. The system is not the problem, the people who abuse it are.

A virus is fundamentally neither good not evil; it is just a life form trying to survive.  
  
And yes, there will be many people who bitcoin will spread to.   The scary thing is that it gains strength as it spreads, so it is much preferable to catch it early and gain an immunity vs. Being one of the last to experience it.  Some will find they can survive and thrive in a world consumed by bitcoin.  Some will not.  
  
There will be beneficial and destructive effects by the end.  
  
Consider the effects of humanity exploding in population and consuming the Earth.   Some parts will thrive and cohabitate with us, and some will go extinct.

i would say a beneficial virus, or the cure of the real virus, the real plague of this world

i don't agree on the "greedy part" about bitcoin and the way to kill it, bitcoin isn't about greediness, but about freedom

yes it is still, this guys is probably some kind of anti - money guy if you read on his post thoroughly


Consider his posts as a trolling, if this things is correct then you could say the same for gold and silver since they are the first such kind of asset before bitcoin


Yes it is volatille now because the supply is keep on increasing each time a block is found. It will be more stable once all supply is in the circulation in about 100 years again

But it's still a volatile asset?

There is no stopping as long as there is human civilization in existence. We need economy running and fiat is there for us but looking at all its weaknesses that can easily be manipulated, we have bitcoin as the alternative option. And greed is the fuel that will keep all these moving.

without greed bitcoin will not die, I think if you want to turn off bitcoin should be stop  financial transactions online, as long as it still happens then Bitcoin will stay alive.

Sounds like conspiracy theory , so low probability that it shouldn't be seriously considered for me.

The fact that when Bitcoin moves up in relation to a fiat currency (BTC/USD for instance) it also moves up against all other fiat currencies (same with moving down against fiat), shows that it is BTC that is volatile and not the other way around.

Yes, but you're wrong. bitcoin isn't just volatile to USD, it's volatile to everything. Whereas USD is comparatively stable when compared against say, the price of grain, or a computer, or oil, or pizza.

Greed is in human's nature so deal with it and if you are using this kind of knowledge like a kid then you could say that gold and silver are also the financial virus. There is no point in arguing this but yes bitcoin changed alot of people's financial. No one will be willing to kill bitcoin not because of greed but because it is not kill-able since this technology is way beyond every currency nowadays

If i have more time then i will read your post completely.
Because i think bitcoin isn't volatile. It is only the way how people look at this!
In reality is the currency volatile which the people use to buy bitcoins! And not bitcoin itself. But the mass of people has only learned to look from the direction of fiat money. The point of view how banks and states teaches them (since generations) to look at everything what they can purchase with fiat...
Even the gold can't be volatile, but on the finance market the price changes all the time... You know what i mean?

Bitcoin is in the midst of birth and growth, a violent process which will result in it stabilizing at a "market cap" that represents the entire value of humanity (as estimated by humanity).  
  
So there will still be fluctuations, but you can expect to see the reserve currency of Earth maintain relative stability once it reaches maturity.  
  
Saying that bitcoin won't work as a currency is like looking at a Kindergartner and declaring they are unemployable.  
  
Isn't that elegant?  Beautiful really.  
  
Like the way a single ant is useless, and easily crushed.  But a colony, living in your house?  Fueled by sugar?  The only way to stop it is to remove the food source, or else it will keep growing.  
  
Like that same small child...  Each one of his little cells is useless by itself, and easily stopped.  But together?  They are a consciousness, growing and expanding.  If you continue to feed it energy, the human child will grow into something mighty and unimaginably capable.  
  
And bitcoin.  A financial virus...  Each node and little bit...  Useless by itself.  But together?  Together, they are growing, swarming, transforming.  Their fuel?  Human greed.  
  
If you want to stop bitcoin, simply tell all the humans to stop being greedy.  This kills the bitcoin.  Convince all humans to stop wanting more than their neighbors, and abolish money entirely.  Return to a system of socialized sharing, where people contribute what they can and everyone gives freely of their time and resources in hopes that others will do the same.  
  
But you won't do that.  No one will.   Because you're human.  
  
Selfishness and greed are built into human programming, the same way as an ant returns to the nest when it finds sugar, leaving a little trail of pheromones along the way.  
  
And make no mistake.  
  
Bitcoin will feed on that greed, until it consumes every ounce of value on the planet.  
  
There is no stopping it now.  The only thing we can do is try to understand it, and try to ensure its capabilities are used for benevolence, not destruction.  
  
And go ahead and try to profit from it while you're at it.  
  
After all, greed is your nature.