Tell me again why any sane person would accept bitcoin as a currency for goods?
If you're selling something illegal, for instance? https://en.wikipedia.org/wiki/Silk_Road_(marketplace)
Bitcoin down 60% to $100
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Re: Bitcoin down 60% to $100
#22What are the best sources for viewing a chart of intra-day price movements?
Currently none, we should wait for the lag of Mt.Gox to decrease
Re: Bitcoin down 60% to $100
#23Tell me again why any sane person would accept bitcoin as a currency for goods?
It's a young experiment, it'll take time to see what happens with it. Although according to WordPress, their primary motivation for accepting it as payment is to facilitate certain international transactions. (There are a few existing fiat currencies that make BTC look rock-solid by comparison.)
Re: Bitcoin down 60% to $100
#24Tell me again why any sane person would accept bitcoin as a currency for goods?
Because it offers the opportunity to trade without the shadow market of banks and financial regulators which get pennys of every damn good you buy without doing something important.
the only problem is exchanging bitcoins which is the root of all evil for a non-backed per-trade-valued currency.
Re: Bitcoin down 60% to $100
#25Tell me again why any sane person would accept bitcoin as a currency for goods?
The only reason would be that any other currency has a higher personal risk of using.
But given the trading activity I'm guessing one of the hoarders had decided to "actualize" their earnings. Or maybe they are raising cash to buy ASIC miners. Who really knows.
Re: Bitcoin down 60% to $100
#26What are the best sources for viewing a chart of intra-day price movements?
Re: Bitcoin down 60% to $100
#27Just wait 20 minutes.
Re: Bitcoin down 60% to $100
#28Note that the price may not be live, but instead a CloudFlare cached version. The price may be incorrect.
If I wanted to sell my bitcoins right this minute do you think I could get a higher price? I don't. And that's the only measure of price that matters.
You don't think it's important to have accurate price history to sell something?
Re: Bitcoin down 60% to $100
#29Market is all over the place - I logged in with chrome, hit "Sell at current Bid Price" - (which was $135) - but the interface wouldn't accept a click on the "Sell Button"
Thought it might be my browser, so I tried logging in with Firefox, hit "Sell at Bid Price" - Which, about 30 seconds after my first attempt with chrome was now $175.
Something is going to crash spectacularly when you get a $40 swing on something like this in 30 seconds.
I still can't sell my BitCoins though. The Irony is I had 20 of them left over from playing around a couple years ago on a linode VPS - they are actually worth quite a bit, if I could only sell them. I wonder how many other people out there are checking to see if they still have a .bitcoin directory sitting around on their various linux systems...
Re: Bitcoin down 60% to $100
#30Tell me again why any sane person would accept bitcoin as a currency for goods?
Please quit with the superficial throwaway comments, that's two content-free crowd-pleasers in under 15 minutes. In answer to your question, pricing goods in a fluctuating currency is a well understood problem, and even with a single Google you'd find the Bitcoin community already have established solutions. The short answer: spot price is 99% noise, so don't use it. Unapologetic for being annoyed at this stuff. Chec…
I just did several googles, and can't find an answer to that question. Maybe you could enlighten us on the "well established solutions" (or just some google search terms to pull them up)? It seems like a serious question to me.
Currency volatility in the real world is generally considered a near-disaster-level problem. So if Bitcoin has truly solved this in a "well established" way I'm sure there are a bunch of national bank managers that would love to hear about it.