Topic: Does CoinJar have an excellent solution for volatility? (Read 447 times)
It is great to people who wants to use bitcoin and don't want to risk the money ( and they don't care about the increase of value)
Believe there are services that exist that already take care of this, like Coinapult Locks:
https://coinapult.com/locks/info
Also, Hedgy I think has a similar system as well:
https://hedgy.co/
But yes, having another service like CoinJar helps the ecosystem overall, and attracts investors that don't want to deal with something as volatile as Bitcoin pricing.
https://coinapult.com/locks/info
Also, Hedgy I think has a similar system as well:
https://hedgy.co/
But yes, having another service like CoinJar helps the ecosystem overall, and attracts investors that don't want to deal with something as volatile as Bitcoin pricing.
Volatility keeps some people away from btc even though they (e.g. the unbanked) would really benefit from it.
CoinJar has some sort of solution: http://www.zdnet.com/article/coinjar-pegs-bitcoin-to-standard-currencies/
So we need more of this?
CoinJar has some sort of solution: http://www.zdnet.com/article/coinjar-pegs-bitcoin-to-standard-currencies/
Quote
Australian bitcoin company Coinjar has found a way to allay some of its customers' fears over the fluctuating value of the digital currency, introducing a new hedged accounts offering aimed at locking in the fiat money price of bitcoin.
Hedged accounts allow users to peg the price of bitcoin against a number of currency options, including Australian dollars, US dollars, British pounds, and euros.
While the new offering won't actually help alleviate fluctuations in the crypto-currency's value, it will allow users who buy a bitcoin at, say, its current $223.24 value -- at the time of writing -- and retain precisely AU$223.24 worth of bitcoin in their hedged account, no matter how bitcoin value may fluctuate.
If bitcoin value soars to AU$446.48, the account holder would own 0.5 bitcoin, worth $223.24, whereas if the bitcoin value drops to $111.62, the bitcoin owner would possess 2 bitcoin.
Hedged accounts allow users to peg the price of bitcoin against a number of currency options, including Australian dollars, US dollars, British pounds, and euros.
While the new offering won't actually help alleviate fluctuations in the crypto-currency's value, it will allow users who buy a bitcoin at, say, its current $223.24 value -- at the time of writing -- and retain precisely AU$223.24 worth of bitcoin in their hedged account, no matter how bitcoin value may fluctuate.
If bitcoin value soars to AU$446.48, the account holder would own 0.5 bitcoin, worth $223.24, whereas if the bitcoin value drops to $111.62, the bitcoin owner would possess 2 bitcoin.
So we need more of this?
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