Quote:
Originally Posted by Jan-Poo
That's way too volatile to work as a currency. How could a retailer even set a price for his products when that price's value could double in the span of an hour?
I think that the sudden success of "bitcoin" was mainly due to speculators like you and not serious buyers and traders.
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Actually, most of my buyers were probably buying some fine...erm...products on the Silk Road, judging by the huge dropoff after SR shut down. Just my guess though
But yeah, true...I do kinda agree with you, it was probably speculation. Still though, those sudden peaks were not really constant at all and were pretty much one-time occurrences; BTC is very volatile, but not that volatile most of the time. (Also, since BTC is mostly online, prices rose/fell according to value rate calculators.)