12 Apr '13, 8pm

Bitcoin's Volatility Is A Disadvantage, But Not A Fatal One

Yesterday I promised to address the issues raised by Bitcoin’s volatility. Bitcoin’s critics are absolutely right that stability is a desirable property for a currency, and that Bitcoin’s large swings make the currency less attractive. However, I don’t think this is a fatal flaw. First I think it’s important to understand why the price of Bitcoins is so volatile. I don’t agree with everything Matt O’Brien says here , but his comparison of Bitcoin to a dotcom stock is apt. More precisely, Bitcoin is a startup currency. It makes sense that a startup currency would be highly volatile because people are still experimenting with the currency to figure out how useful it is. But over time, as we learn more about the Bitcoin platform’s potential, the uncertainty will diminish and as a result volatility will decline. Still, Bitcoin’s will have higher volatility than conventional cu...

Full article: http://www.forbes.com/sites/timothylee/2013/04/12/bitcoin...

Tweets

What exactly is #Bitcoin, and how does it work?

What exactly is #Bitcoin, and how does it work?

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