31–40 of 94 posts
Day low of $70 but now $180. Huge potential profits for some. Edit: that low is on bitstamp, mtgox has a low of $126. Still huge swings.
Tell me again why any sane person would accept bitcoin as a currency for goods?
Smooth the line and bitcoins are doing exactly what you'd expect from a linear-demand-growth emerging commodity market with a fixed rate of supply. Everything is going exactly according to plan.
Note well that the exact same thing (a big speculative run-up and follow-up correction) happened a couple years ago for the $0.50 to $29 spike, and will probably happen again for the inevitable $300 to $1500 run-up.
Tell 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.)
Lots of people seem to be looking forward to a future of buying physical goods with Bitcoin or bitcoin-alike currencies, which in some ways would be nice but I haven't seen a practical solution to the problem of potentially huge value swings. Nobody wants to sell a real physical good paid for with a stable currency to someone else in a currency that can lose half of its value or more in hours or even days.
Note that the price may not be live, but instead a CloudFlare cached version. The price may be incorrect.
What are the best sources for viewing a chart of intra-day price movements?
Earlier quoted context omitted.
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 natio…
I have no doubt a momentary search over on SSRN will produce a hundred papers entirely dedicated to formalizations of this process.
First sell-off - late 2011 whne the price dropped from $30 to $5.
Enthusiasm @ $50. Greed @ $130
New paradigm over the last couple days.
What are the best sources for viewing a chart of intra-day price movements?
edit as per comment, thanks!
