I shyed away from bitcoin after finding out about the group that captured 51% of the blockchain.
Just knowing that's a possibility is a big nope for me
Bitcoin’s Price Falls 12%, to Lowest Value Since May
81–85 of 85 posts
Re: Bitcoin’s Price Falls 12%, to Lowest Value Since May
#82Earlier quoted context omitted.
The fluctuations will never end unless bitcoin itself ends. Its nature prevents a dampening force like a central bank to control wild price swings.
Wouldn't mass adoption help? If the market capitalization was for example 10,000 times the current one, it seems to me it would be quite hard to move the market as much as it happened in the past.
No because it is a deflationary currency. Gold also had huge fluctuations. Silver too.
The counter argument (google "bitcoin deflationary") is that people won't hold Bitcoin because it is a payment system but I think that is ridiculous because the whole notion of bitcoin is that it is fungible property. Empirical reality obviously demonstrates people are hoarding bitcoins.
Bitcoins are more like the condominium market. You can make more condos but a diminishing number more a year. You can buy condos speculatively and not inhabit them (eg buy bitcoins and not spend them). Condo prices are also an unstable market. (Not to mention lots of interesting organized crime stories.)
Re: Bitcoin’s Price Falls 12%, to Lowest Value Since May
#83Earlier quoted context omitted.
> published widely distributed statistics of how much aggregate margin was outstanding on a day to day basis. Do you have a link? I didn't find those stats after a cursory look at the Bitfinex and BTCE sites.
I don't know about BTC-e, but the swaps information from Bitfinex is usually available at bfxdata.com e.g. http://www.bfxdata.com/combined/btc.php
Thanks. I am not sure if this also captures their margin trading.