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Topic: The Bitcoin Economy - page 2. (Read 1587 times)

legendary
Activity: 2940
Merit: 1865
March 20, 2015, 10:06:59 PM
#4
...

I would doubt that 10% (or even fewer: maybe 5%) have a good understanding of our economy and the precarious nature of our financial problems.  Westerners, and Americans in particular, have a disturbingly high propensity to go into debt.  As do our governments.

We have gotten to the point where a Bitcoin Economy is financial self-defense!  Anyone who can afford to save should have a little in Bitcoin (or more if you are comfortable and knowledgeable).  Save some Bitcoin and spend some Bitcoin.  Just the privacy (not that good but better than NO privacy) alone should be an inducement to wade into a Bitcoin Economy.

And I am not even a programmer!  Yes, you can learn enough about Bitcoin on your own with sufficient diligence.

*   *   *

An easy way to start "spending and saving at the same time" is to buy gold with Bitcoin...   Smiley
legendary
Activity: 1988
Merit: 1012
Beyond Imagination
March 20, 2015, 08:56:46 PM
#3
The volatility with bitcoin is caused by people using unstable fiat money as a standard unit of value. If they use bitcoin as standard, they will see how unstable fiat money is

People have been misled for decades by these so called "mainstream economics" and they don't even know if any part of it is true. (In fact in bitcoin economy, everything seems to be different than mainstream economics predicted: When bitcoin price is higher, people spend more, when price is lower, people hoard more)
full member
Activity: 196
Merit: 103
March 20, 2015, 06:54:24 PM
#2
In the near future, if there will be a Bitcoin economy, will it be a stable economy?

http://www.newsbtc.com/2015/03/19/a-bitcoin-economy-will-be-a-stable-economy/

How can we stabilize bitcoin price's volatility?

How can a bitcoin economy become stable if the bitcoin price itself is not stabilizing?

It's just a bit funny you mentioned stableness.

Take a look at this:

Quote
The hryvnia lost 34 percent against the US dollar after the head of the central bank signaled it can no longer support the currency with regular interventions and will allow greater fluctuations.

-- http://rt.com/business/229607-ukraine-hryvnia-free-fall/


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The rouble has lost more than half its value against the dollar this year, hit by cheaper oil and Western sanctions.

-- http://www.bbc.com/news/business-30492518

Quote
The Swiss Market Index (SMI) is in free fall after the Swiss National Bank (SNB) has stopped defending the Swiss Franc. After the unexpected, shock announcement by the SNB, the SMI lost some $100 billion in value.

-- http://www.cosmopolis.ch/english/politics/e0017400/smi_in_free_fall_e01740000.htm

Quote
Findings of the Corporate Commercial Bank audit are, speaking mildly, actions incompatible with the law and best banking practices. Missing, and most likely to have been destroyed in the days before conservatorship, is a material credit record of a credit portfolio amounted to 3.5 billion lev out of a 5.4 billion lev total loan portfolio

-- http://www.forbes.com/sites/francescoppola/2014/07/12/the-curious-case-of-the-bulgarian-bank-runs/

Quote

This graphic shows why Cyprus could not bail out its banks.
The deposits by Bank of Cyprus and Laiki Bank are too large for the small country with only €19.3 Billion GDP to bail out, especially considering the €15 Billion in debt they already have. Instead they asked for €17 Billion from EU/ECB to finance the broke Government and bankrupt banks.


-- http://demonocracy.info/infographics/eu/cyprus_crisis/cyprus_crisis.html


So the question would be, would bitcoin fare any worse? As we can see, not only bitcoin has volatility. Everybody selecting to use bitcoin are pioneers, and as pioneer-work goes, there's risk and uncertainty associated with it. When something's "safe" - everybody will be using it, no questions asked.

Bitcoin is working well, and is being used in a thriving economy.

Bitcoin number of transactions pr. day is rising, which is a good sign:

-- https://blockchain.info/charts/n-transactions?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=


member
Activity: 114
Merit: 10
March 20, 2015, 12:36:04 PM
#1
In the near future, if there will be a Bitcoin economy, will it be a stable economy?

http://www.newsbtc.com/2015/03/19/a-bitcoin-economy-will-be-a-stable-economy/

How can we stabilize bitcoin price's volatility?

How can a bitcoin economy become stable if the bitcoin price itself is not stabilizing?
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