Post
Topic
Board Beginners & Help
Re: Bitcoin price stability
by
rayt5
on 13/04/2013, 01:29:38 UTC
hey dude, people will use them as actual money when there is something they can buy for btc
so if you want to contribute to minimize speculations just offer your goods/service for btc

Yes, that will certainly help, but imagine I decided to start selling, say, computer hard drives in BTC, and only in BTC. How often would I have to change the price? Probably daily. That's... less than ideal for a currency. That's not a stable or predictable store of value. If I neglect to change my prices frequently enough, nobody will buy the hard drives because they'll cost too much.

Now imagine that I'm renting an apartment from someone, and I'm using BTC to pay for it. I sign a year lease for BTC7. At the end of the year, that BTC7 could have increased in value several hundred percent. That could be disastrous to me.

So BTC's price volatility is actively working against it becoming a more useful currency.