Absolutely NOT. This is intended to be a serious medium of exchange, not some sort of "point" system designed to obfuscate value.
As a counter example I present Berkshire-Hathaway. That stock has never had a split, never paid a dividend, was never gussied up to look pretty for the "common Joe." Result? $115,000 per share, and returns well above market.
People absolutely understand fractions. And if they don't, well. Too bad.
Topic: Why bitcoins are hovering around $14 - page 3. (Read 6243 times)
Bitcoin has stagnated because the decimal point wasn't moved. We need to move it 2-3 places. Normal people might be willing to throw $10-20 into bitcoin. For that they get.... 1 coin? If they could get 100 or 1000 it would seem like a better deal. The psychological barrier is far, far, more important than most people on these forums realize. Believe it or not, most people in the world aren't mathematically adept libertarian engineers. We need to go after the humanities people, the liberals, the people who don't understand fractions or decimals. We need to move to a "points" model, like xbox points or credit card rewards points.
The Euro and USD currencies are on the brink of collapse if their issuers don't stop defaulting on their loans.
There will be much bigger worries by then, but I'd put any significant cash reserves into gold, platinum, silver and bitcoin at the moment.
In the current economic climate I wont be surprised to wake up one morning and see the US dollar value plummet dozens of % in a day
Bitcoin and other scarce commodities will skyrocket in value if that happens, people will attempt getting ahold of anything which isn't fiat currency or unlimited paper money
There will be much bigger worries by then, but I'd put any significant cash reserves into gold, platinum, silver and bitcoin at the moment.
In the current economic climate I wont be surprised to wake up one morning and see the US dollar value plummet dozens of % in a day
Bitcoin and other scarce commodities will skyrocket in value if that happens, people will attempt getting ahold of anything which isn't fiat currency or unlimited paper money
http://bitcoinweekly.com/articles/the-calm-after-the-storm
You might wanna read that article. It gave a variety of reasons as to why price stabilized.
You might wanna read that article. It gave a variety of reasons as to why price stabilized.
That's an interesting point; however, I don't think that's all there is to it. The interest in Bitcoin has capped at the moment. Check out Google trends, you'll notice that the number of searches has dropped drastically. Maybe the price stagnation is also a symptom of this. If the interest in Bitcoin keeps dropping I expect the price to erode further.
Still, you have a point, we'll see what happens in a couple of weeks.
Still, you have a point, we'll see what happens in a couple of weeks.
I figured that this would happen when they announced the commissions on trades would be 0% for those who had an mtGox account before the hack.
People are buying in small price swings and selling at small price swings. They can make a few dollars and pay no commission. So the swings have become smaller and smaller and smaller until now it has just been wavering by less than ten cents.
I predict that the 26th, when commissions go back up to full price, the price will start to rise again as people hold longer and the traders set up larger swings for trading.
People are buying in small price swings and selling at small price swings. They can make a few dollars and pay no commission. So the swings have become smaller and smaller and smaller until now it has just been wavering by less than ten cents.
I predict that the 26th, when commissions go back up to full price, the price will start to rise again as people hold longer and the traders set up larger swings for trading.
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