Topic: Here we go again, bitcoin exchange rates have been doing just fine - page 4. (Read 7524 times)
September 04, 2011, 08:23:29 PM
Thanks! Where did you get the historical data?
September 04, 2011, 08:03:08 PM
Bitcoin exchange rates have been doing just fine, especially if we take into account series of attacks and scams. Here is a year-long picture:
There is no "major drop". Now you can all relax and do something useful for Bitcoin. Spread the good word.
P.S. I know some folks will get confused with the log scale. If you are interested in the exchange value, you are concerned with the relative change in value, right? For example, if you wish to invest $100 in Bitcoin, you do so - regardless of the price. You might end up buying 1000 or 0.003 coins, it doesn't matter. What matters is the relative change over time - has it doubled or tripled or halved? If the value, for example, has doubled over a year and now you decide to sell, you will have made exactly double the amount of dollars you invested - regardless of what the exchange rate was when you first invested. This is why log plot, and log plot only, is appropriate and accurate representation of the exchange rate. In cases where exchange rates remain within a narrow range, linear scale will distort the picture only slightly, so it can still be used if for some strange reason you are inclined to.
There is no "major drop". Now you can all relax and do something useful for Bitcoin. Spread the good word.
P.S. I know some folks will get confused with the log scale. If you are interested in the exchange value, you are concerned with the relative change in value, right? For example, if you wish to invest $100 in Bitcoin, you do so - regardless of the price. You might end up buying 1000 or 0.003 coins, it doesn't matter. What matters is the relative change over time - has it doubled or tripled or halved? If the value, for example, has doubled over a year and now you decide to sell, you will have made exactly double the amount of dollars you invested - regardless of what the exchange rate was when you first invested. This is why log plot, and log plot only, is appropriate and accurate representation of the exchange rate. In cases where exchange rates remain within a narrow range, linear scale will distort the picture only slightly, so it can still be used if for some strange reason you are inclined to.
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