Brazilian Real now more volatile than Bitcoin

zimmah

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Quote from: Elwar on October 03, 2015, 08:10:28 AM

All over Brazil people have stopped using Reals because the price is too volatile.

"What if I buy something and the price goes up" said one resident.

"I'll just wait to buy some Reals when it's not so volatile" said another.

Some stores are hesitant to accept Brazilian Reals in their stores
"It could also cause suspicion between residents if one resident gets a good discount for making a purchase at the right time."

Others are concerned that they
"...will need to regularly adjust the prices according to the market..."

Goldman Sachs has released a report stating that the Brazilian Real cannot work as a currency because the Brazilian Real is just too volatile. They also noted "For businesses today it is not yet feasible to hold Brazil Real given its volatility, and so merchants must convert into other fiat currencies immediately (and incur commission charge)"

Some investors have opted to just buy Brazilian Real and "hodl" in the hopes that the price skyrockets.

yeah because a currency that is heading towards failure will obviously skyrocket, instead of being inflated into oblivion.

When did a fiat currency ever skyrocket in a good way?

eizh

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The BRL sets the bar pretty low, but congrats anyway to BTC. Cheesy

pitham1

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Quote from: mookid on October 03, 2015, 10:29:29 PM

My country currency has devalued more than 500% i have to live with this all the time.
The most common thing that people do to protect themselves from this is to use another currency (United States Dollars)
or to buy tangibles like cars, real-state, gold or basically anything else.
That's why lot's of people who lives in countries with high inflation like Argentina and Venezuela are looking into bitcoin.

500% in what time frame? That is hyperinflation, making currency worthless.
In such scenarios, people prefer to hold any object (gold would be nice, but in times of scarcity, even consumer durables would do) rather than hold cash. You will be losing value every day that you hold cash.

x13

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Things are called shit for a reason, dear.

interesting chart. This shows that Bitcoin is getting more and more a stable and serious currency.

Preen

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The difference between bitcoin volatility and real, is that most services accepting bitcoin, are priced in USD equivalent amounts of BTC. Where as, the Reals will not be priced in terms of another currency.

mookid

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My country currency has devalued more than 500% i have to live with this all the time.
The most common thing that people do to protect themselves from this is to use another currency (United States Dollars)
or to buy tangibles like cars, real-state, gold or basically anything else.
That's why lot's of people who lives in countries with high inflation like Argentina and Venezuela are looking into bitcoin.

aso118

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★Nitrogensports.eu★

Quote from: bryant.coleman on October 03, 2015, 02:03:21 PM

The graph is a joke. It is clear that Bitcoin is highly volatile, even when compared to the Latin American currencies such as the Brazilian Real and the Venezuelan Bolivar. For the last few weeks, Bitcoin has remained some-what stable (day-traders and short-sellers losing their interest in Bitcoin?). But that is not enough to claim that the Real is more volatile than the BTC.

Agreed. Why look at a 30-day average? Why not 60-day or 360-day average?
Of course, if Bitcoin remains this way for months together, people might thing differently. They, however, won't be taking decisions only based on what has happened in the last 1 month.

GetClams.com

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The scary thing about the BRL which now cost less than USD .25 and is at historical lows is that we are not even in a global recession. Think what is going to happen to its value when TSHTF.

So if you are in USD you can now buy a beach front condo priced at BRL $2.4m at a 75% discount.
http://www.vivareal.com.br/imovel/apartamento-4-quartos-areia-preta-bairros-natal-com-garagem-282m2-venda-RS2400000-id-54921838/

bryant.coleman

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The graph is a joke. It is clear that Bitcoin is highly volatile, even when compared to the Latin American currencies such as the Brazilian Real and the Venezuelan Bolivar. For the last few weeks, Bitcoin has remained some-what stable (day-traders and short-sellers losing their interest in Bitcoin?). But that is not enough to claim that the Real is more volatile than the BTC.

dothebeats

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Cashback 15%

Quote from: Lauda on October 03, 2015, 01:46:26 PM

Quote from: unamis76 on October 03, 2015, 10:48:37 AM

I guess there goes the argument of "Bitcoin is too volatile..."

This is exactly the point that I wanted to make, but completely forgot about the thread (too many tabs open) and you beat me through it. We should not let the thread die or at least save this image. Every time someone say that Bitcoin is too volatile, we can say that other currencies are more volatile at times. When financial markets destabilize further, I would not be surprised if this happened to more currencies.

It appears that this bold text is looming and is drawing near. If in case this happened, time to find something to store value on! Bitcoin is a good candidate, same with precious metals, but the latter seems to be hard to use as a currency, given its finite and very limited supply.

Lauda

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Terminated.

Quote from: unamis76 on October 03, 2015, 10:48:37 AM

I guess there goes the argument of "Bitcoin is too volatile..."

This is exactly the point that I wanted to make, but completely forgot about the thread (too many tabs open) and you beat me through it. We should not let the thread die or at least save this image. Every time someone say that Bitcoin is too volatile, we can say that other currencies are more volatile at times. When financial markets destabilize further, I would not be surprised if this happened to more currencies.

dothebeats

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Quote from: Elwar on October 03, 2015, 08:10:28 AM

All over Brazil people have stopped using Reals because the price is too volatile.

"What if I buy something and the price goes up" said one resident.

"I'll just wait to buy some Reals when it's not so volatile" said another.

These are also some of the concerns of merchants as to whether they should accept bitcoin as a form of payment or not. But this year, bitcoin seemed to be more stable compared to 2014. That's great news for us.

Quote from: Elwar on October 03, 2015, 08:10:28 AM

-snip-
Some investors have opted to just buy Brazilian Real and "hodl" in the hopes that the price skyrockets.

Same with bitcoin, most people here bought or works for bitcoin and hodl in hopes of price increase.

Amph

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Quote from: unamis76 on October 03, 2015, 10:48:37 AM

I guess there goes the argument of "Bitcoin is too volatile..."

well 30 days is not that significant for a sample, i would wait for the end of 2015 and do it for a whole year

but in any case in this year bitcoin was very stable, and only some small movements in the same predictable range, it's lie there 1 manipulator only

nothing to compare with 2014....

neurotypical

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Brazil will eventually ban Bitcoin if it becomes used widespread across the country and surpasses the Brazilean Real. Unlikely but could happen in a couple of years if their economy keeps crumbling. Eventually they will unban it and realize it's pointless and will try to cooperate.

oblivi

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Quote from: Mickeyb on October 03, 2015, 10:41:50 AM

Quote from: Carlton Banks on October 03, 2015, 09:16:36 AM

Quote from: Mickeyb on October 03, 2015, 08:18:04 AM

This is very scary when you think about it closely. Your life turns into a never-ending thinking game, should I buy, should I buy not and also should I receive the money or not for a good or service.

It's amazing what's going on in the world to the certain countries and certain currencies. Greece, Cyprus, Puerto Rico, Russia with its Ruble, Venezuela, Chinese stock market crash, even Australian Dollar that lost amazing amount of value lately and now Brazil. And all of this in just a couple of years!

I am afraid that the future brings us many more problems like this and that this is just a beginning.

P.S. Let's not forget Euro also with its historical drop this year!

It's even more than that; Saudi Arabian riyal has been having big exchange rate fluctuations, the Chilean currency has been having problems, and the yuan itself (although I suppose you could argue that the PBC chose how much they devalued by; about 6 or 8 significant devaluations in the last 6 weeks Cheesy

). More to come I'm guessing.

Living where this takes place sucks though. We ought to try do our bit as Bitcoiners IMO, shop from Brazilians and Chileans and all those other economies where it's easy to trade with them. If you live nearby the more heavily controlled economies like Venezuela, Cyprus Greece or Russia, maybe there are ways we could trade with people there despite the encumberances. Everyone wins IMO; both trading parties, as well as bitcoin as a whole.

Yes, I wasn't even aware of Saudi Arabia and Chile. While yes, China is a real mess at the moment.

I am not an anarchist that wishes this financial system falls apart so we would gain from it. If it real does fall apart, I think we all ought to lose more than we will gain. But I don't see which other way this all is headed than the bad way, unfortunately!

On the top of all that, add the European immigration crisis. Also Italy, Spain, Ireland and, Portugal that are very close to the bankruptcy and we are set for one hell of a party!

Well, the euro is still very solid in those countries at least for now, we'll see how it plays out. Apparently Spain was making good progress or so I've read, but it seems they are just creating a new bubble of undervalued jobs to mask unemployment rates. Basically, the so called German minijobs model is being applied in Spain and the unemployment rates looks like it's getting better but in reality they are just dividing existing jobs and salaries. It's pretty sad to see. I wonder how this is going to hold up in a decade.

unamis76

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I guess there goes the argument of "Bitcoin is too volatile..."

Mickeyb

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Move On !!!!!!

Quote from: Carlton Banks on October 03, 2015, 09:16:36 AM

Quote from: Mickeyb on October 03, 2015, 08:18:04 AM

This is very scary when you think about it closely. Your life turns into a never-ending thinking game, should I buy, should I buy not and also should I receive the money or not for a good or service.

It's amazing what's going on in the world to the certain countries and certain currencies. Greece, Cyprus, Puerto Rico, Russia with its Ruble, Venezuela, Chinese stock market crash, even Australian Dollar that lost amazing amount of value lately and now Brazil. And all of this in just a couple of years!

I am afraid that the future brings us many more problems like this and that this is just a beginning.

P.S. Let's not forget Euro also with its historical drop this year!

It's even more than that; Saudi Arabian riyal has been having big exchange rate fluctuations, the Chilean currency has been having problems, and the yuan itself (although I suppose you could argue that the PBC chose how much they devalued by; about 6 or 8 significant devaluations in the last 6 weeks Cheesy

). More to come I'm guessing.

Living where this takes place sucks though. We ought to try do our bit as Bitcoiners IMO, shop from Brazilians and Chileans and all those other economies where it's easy to trade with them. If you live nearby the more heavily controlled economies like Venezuela, Cyprus Greece or Russia, maybe there are ways we could trade with people there despite the encumberances. Everyone wins IMO; both trading parties, as well as bitcoin as a whole.

Yes, I wasn't even aware of Saudi Arabia and Chile. While yes, China is a real mess at the moment.

I am not an anarchist that wishes this financial system falls apart so we would gain from it. If it real does fall apart, I think we all ought to lose more than we will gain. But I don't see which other way this all is headed than the bad way, unfortunately!

On the top of all that, add the European immigration crisis. Also Italy, Spain, Ireland and, Portugal that are very close to the bankruptcy and we are set for one hell of a party!

Velkro

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Quote from: Elwar on October 03, 2015, 08:10:28 AM

Just like here, i heard in vietnam bitcoin is the real deal.
Bitcoin is huge game changer in economy world.

Carlton Banks

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Quote from: Mickeyb on October 03, 2015, 08:18:04 AM

This is very scary when you think about it closely. Your life turns into a never-ending thinking game, should I buy, should I buy not and also should I receive the money or not for a good or service.

It's amazing what's going on in the world to the certain countries and certain currencies. Greece, Cyprus, Puerto Rico, Russia with its Ruble, Venezuela, Chinese stock market crash, even Australian Dollar that lost amazing amount of value lately and now Brazil. And all of this in just a couple of years!

I am afraid that the future brings us many more problems like this and that this is just a beginning.

P.S. Let's not forget Euro also with its historical drop this year!

It's even more than that; Saudi Arabian riyal has been having big exchange rate fluctuations, the Chilean currency has been having problems, and the yuan itself (although I suppose you could argue that the PBC chose how much they devalued by; about 6 or 8 significant devaluations in the last 6 weeks Cheesy

). More to come I'm guessing.

Living where this takes place sucks though. We ought to try do our bit as Bitcoiners IMO, shop from Brazilians and Chileans and all those other economies where it's easy to trade with them. If you live nearby the more heavily controlled economies like Venezuela, Cyprus Greece or Russia, maybe there are ways we could trade with people there despite the encumberances. Everyone wins IMO; both trading parties, as well as bitcoin as a whole.

Denker

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Quote from: ~Bitcoin~ on October 03, 2015, 08:50:15 AM

Now i think we are near the point where bitcoin will become stable liked usd/other currencies pair. This will ultimately increase people trust on bitcoin.

No Bitcoin will not be as "stable" as other fiat currencies.Bitcoin's value will rise in the future. I think it's a mistake to believe or look at Bitcoin just as a currency. Bitcoin is much more than that. And that's why it can not stay stable the next years when it's value will increase x-fold.
Trust in Bitcoin can also be generated when people see that the price is heading north.Therefore it will be uses as a store of value and as hedge.

Topic: Brazilian Real now more volatile than Bitcoin (Read 2706 times)