Is bitcoin now the strongest currency in the world? - page 91.

melvster

sr. member

Activity: 350

Merit: 250

Quote from: deathcode on March 22, 2013, 08:57:37 AM

Quote from: melvster on March 22, 2013, 08:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

I would compare bitcoin with a $7 stock that has a market capital of 800.000.000 U$S...
It's going up, but any big shot with, say, 100-500k can manipulate the stock considerably and pump it and dump it.
As the market capitalization of bitcoin grows, the currency will be resistant of those kinds of "attacks" and hopefully, the price, although it will continue to move up perpetually, it will slowdown considerably compared to today's volatility.

Anyway, a quicker answer to your questions is NO, it's not even close to being the strongest currency in the world.

But a $7 stock isnt a currency, really, is it. I mean you need a certain amount of liquidity to be considered true currency, you could argue that bitcoin has that now. But a stock?

lleibowitz

newbie

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Merit: 0

I'd say currently bitcoin is one the weakest currencies in the world, but this can (and hopefully will) change in the next couple of years.

deathcode

copper member

Activity: 1428

Merit: 253

Quote from: enygma on March 22, 2013, 09:59:22 AM

Bitcoin isn't the strongest currency for reasons stated, but it is among one of the most valuable.

please define "valuable"?

enygma

member

Activity: 75

Merit: 10

Bitcoin isn't the strongest currency for reasons stated, but it is among one of the most valuable.

tysat

legendary

Activity: 966

Merit: 1004

Keep it real

Quote from: mccorvic on March 22, 2013, 08:51:03 AM

Quote from: tysat on March 22, 2013, 08:45:50 AM

Nope, it wouldn't take a whole lot to get the numbers to start going down (compared to other currencies).

As much as it pains me to say it, this is the truth.

Now, it does have the capability to become the strongest, so do take that into account.

I definitely agree that it could become one of the strongest currencies in the world, but right now it's very weak.

Quote from: deathcode on March 22, 2013, 08:57:37 AM

I would compare bitcoin with a $7 stock that has a market capital of 800.000.000 U$S...
It's going up, but any big shot with, say, 100-500k can manipulate the stock considerably and pump it and dump it.

^ Good explanation of how I view it, bitcoin will be strong when it can't be moved with a "small" amount of money.

deathcode

copper member

Activity: 1428

Merit: 253

Quote from: melvster on March 22, 2013, 08:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

I would compare bitcoin with a $7 stock that has a market capital of 800.000.000 U$S...
It's going up, but any big shot with, say, 100-500k can manipulate the stock considerably and pump it and dump it.
As the market capitalization of bitcoin grows, the currency will be resistant of those kinds of "attacks" and hopefully, the price, although it will continue to move up perpetually, it will slowdown considerably compared to today's volatility.

Anyway, a quicker answer to your questions is NO, it's not even close to being the strongest currency in the world.

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Nah, gold is. But bitcoin has huge potential, even if limited by the State to "just" the black market.

mccorvic

hero member

Activity: 518

Merit: 500

Quote from: tysat on March 22, 2013, 08:45:50 AM

Nope, it wouldn't take a whole lot to get the numbers to start going down (compared to other currencies).

As much as it pains me to say it, this is the truth.

Now, it does have the capability to become the strongest, so do take that into account.

tysat

legendary

Activity: 966

Merit: 1004

Keep it real

Nope, it wouldn't take a whole lot to get the numbers to start going down (compared to other currencies).

melvster

sr. member

Activity: 350

Merit: 250

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

Topic: Is bitcoin now the strongest currency in the world? - page 91. (Read 42230 times)