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How To Use Bitcoin – The Most Important Creation In The History Of Man

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Sceptic-PK said:
I don't think that really matters.
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Of course you don't. :rolleyes:

The fact remains that as long as the price of bitcoins continues to rise rapidly (call it "volatile" if you like), people will be reluctant to spend them and merchants will have little incentive to accept them.

Its value as a medium of exchange instead of just a store of value will take time to be realized.
 
psionl0 said:
Of course you don't. :rolleyes:

The fact remains that as long as the price of bitcoins continues to rise rapidly (call it "volatile" if you like)...
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I see you don't know what volatile means.

It certainly doesn't meant "continues to rise rapidly."

No investment in the world will predictably do that. If you think so, you don't understand markets.
 
Remind me... why are we having this discussion? Bitcoin is very volatile, it's not an emotive term, and it's a property that is very, very undesirable in a currency. If you disagree with any of that, tell us what exactly it is you disagree with. If you don't... GOTO first sentence of this post.
 
Sceptic-PK said:
Yeah, it's an amazing medium of exchange asides from the fact you can't actually buy anything with it. Well, other than drugs and child pornography I mean.
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GOTO 2134.

timhau said:
Remind me... why are we having this discussion? Bitcoin is very volatile, it's not an emotive term, and it's a property that is very, very undesirable in a currency. If you disagree with any of that, tell us what exactly it is you disagree with. If you don't... GOTO first sentence of this post.
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That's utter nonsense. I engage in transactions almost daily which involve various currencies, always one is translated to the other on a near instantaneous basis, a rate is locked in, and the deal is made. No different with bitcoin. Exactly the same. You may be taking some definition of currency which suits the end you desire to obtain, then making a little tautological or circuituous bit of faulty logic there. Instead, one must consider the actual dynamics of ecurrency, as it's mode of use and most efficient utilizations may differ from paper or metal currencies. Without doing that, your statements are false.

In a transaction from US/USD to S Africa Rand with bitcoin, bitcoin is the intermediary unit of exchange which eliminates the need for a trusted third party. Take a look at home many people just got put out of business because they were not needed any longer, and you'll see why there is a strong desire to keep people scared away from bitcoin.

Wait, that's what you were doing....

LOL...
 
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Belz... said:
.NO ARGUMENT FOUND ERROR.
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Yes, there was an argument you chose not to see. Either by curve fitting, or simple examination, or by study of the bitcoin algorithm it is easy to see that the price goes up. In doing so, volatility exists which may be measured the same way we take beta on stocks.

With currencies of various nations, volatility certainly exists. Trends in value exist. They are almost always downward.

Take your pick: volatility and increases in value, or volatility and decreases in value.

See you guys in six months.
 
mhaze said:
Yes, there was an argument you chose not to see. Either by curve fitting, or simple examination, or by study of the bitcoin algorithm it is easy to see that the price goes up. In doing so, volatility exists which may be measured the same way we take beta on stocks.

With currencies of various nations, volatility certainly exists. Trends in value exist. They are almost always downward.

Take your pick: volatility and increases in value, or volatility and decreases in value.

See you guys in six months.
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My point was that the term is a good fit to BTC, much better than any other currency. Psio0I0's post 2148 doesn't address that, so his GOTO is weird.

So what's the argument in that post that I missed ?
 
Belz... said:
My point was that the term is a good fit to BTC, much better than any other currency. Psio0I0's post 2148 doesn't address that, so his GOTO is weird.

So what's the argument in that post that I missed ?
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AdMan spelled out the rules in post #2143 when he insisted that volatile certainly doesn't meant "continues to rise rapidly."

So make your choice: either bitcoin has a large upward trend in its price or its price is "volatile".
 
psionl0 said:
AdMan spelled out the rules in post #2143 when he insisted that volatile certainly doesn't meant "continues to rise rapidly."

So make your choice: either bitcoin has a large upward trend in its price or its price is "volatile".
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It has a generally upward trend, and catastrophic collapses. How would you call it ?
 
Belz... said:
It has a generally upward trend, and catastrophic collapses. How would you call it ?
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I call it somebody looking at the bitcoin price history with his eyes closed.

If you look at the bitcoin price chart on a logarithmic scale - especially since October 2011, you will see that it is almost a straight line with a couple of higher than average price rises followed by a fall back to the trend line. The trend line shows at least a 5-fold increase in the price in each of the last two years.
 
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