Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Bitcoin drops 10USD in less than 4 hours

bitcoinity.org

Post reply on HN
Print view View original

1–10 of 52 posts

Re: Bitcoin drops 10USD in less than 4 hours

#6

Post by jcoby »

jussij wrote: post #4
alexdevkar wrote: post #2

Bitcoin is going to be extremely volatile. I don't think that has a lot of significance for its long term viability.

The last thing you want in a trading currency is extreme volatility.

I watched this for three minutes and in that time its value went from 37 to nearly 40 and back to 37 again. Several times.

How in the world can you use a currency that changes value by almost 10% every 60 seconds?

Re: Bitcoin drops 10USD in less than 4 hours

#7

Post by craftkiller »

jcoby wrote: post #6
jussij wrote: post #4

Earlier quoted context omitted.

The last thing you want in a trading currency is extreme volatility.

I watched this for three minutes and in that time its value went from 37 to nearly 40 and back to 37 again. Several times. How in the world can you use a currency that changes value by almost 10% every 60 seconds?

The more that people use it, the more stable the currency will get.

Re: Bitcoin drops 10USD in less than 4 hours

#8

Post by mhartl »

jussij wrote: post #4
alexdevkar wrote: post #2

Bitcoin is going to be extremely volatile. I don't think that has a lot of significance for its long term viability.

The last thing you want in a trading currency is extreme volatility.

There's a natural monopoly in a medium of savings used to defer consumption. Among competing currencies, the winner is the "bubble that doesn't pop". Until the monopoly is established, though, volatility is to be expected, as it would be with any bubble.
Post reply on HN