OpenRuby.com

02 Aug '12, 9pm

1 Bitcoin Worth 10 USD

The value of the currency doesn't really matter to those of us who use it - It could be 1 bitcoin to 1 USD, or 1 bitcoin to 10 USD - as long as the downwards volatility is kept to a minimum.What's problematic is when you buy something worth $50 USD with 5 Bitcoins, and the Bitcoin to USD drops before the seller can get their USD from MtGOX (or whoever their Currency Exchange house is). The upwards volatility isn't a problem in that buyer/seller scenario. If I want to buy something worth $50 USD, and I go purchase 5 bitcoins for $50USD, and then, those bitcoins are worth $55USD by the time the purchase clears, then I only paid $50USD and the Vendor received $55 USD. Everyone comes out a winner.

Full article: http://news.ycombinator.com/item?id=4330932

Tweets

1 Bitcoin Worth 10 USD

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1 Bitcoin = 10 USD

1 Bitcoin = 10 USD

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