Bitcoin is dying?

http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zv

by raullen • 14 years ago

8 6 14 years ago

Osiris• 14 years ago

Over the years Bitcoin has had a tendency to have spikes of speculative trading. Most of these spikes last for fairly short periods of time and tend to settle a standard trading rate.

I don't think it's indicative of the viability of the currency itself. Just think of oil. There are frequent speculative spikes in price and subsequent falls in price but the oil still flows and people still buy it.

msbarnett2• 14 years ago

On the contrary, I think the observation that Bitcoin's behavior is similar to that of other commodities speaks volumes about its (non-)viability as a currency.

anonymoushn• 14 years ago

Could you elaborate on this? As massive "Bitcoin deposits" cannot be discovered and Bitcoins cannot be consumed for any useful purpose, most of the causes of rapid price changes to commodities do not apply. What prevents Bitcoin from having a stable price while permitting the U.S. Dollar to have a stable price?

snogglethorpe• 14 years ago

Bitcoin was alive?!

Bitcoin is dying?

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