Post
Topic
Board Economics
Re: If Bitcoin had a stable price, would it still be as popular?
by
Cormoran
on 10/09/2017, 12:19:39 UTC
I think that for many coin holders, as for me, the stable price of bitcoin would not bring benefits. What is the use of keeping coins for a long time if they do not bring in income

Uh. If bitcoin had a stable price, the benefit of holding it for a long time would be exactly that - the stable price and large-scale acceptance of it as a valuable asset, regardless of what happens to your national currency or anything else. Just like gold bars, except a bit easier to use in actual transactions and perhaps slightly less shiny. Even if it stopped fluctuating several percentage points a day, it could still be bought and sold as a vehicle of speculation, just like gold is now - for example, people who bought gold when it was $1k/oz are now up 30% or so based on the geopolitical instability and fear; when Trump and Kim started comparing penis sizes, the rest of the world started taking their money out of more volatile assets like the stock market and buying gold because of its perceived stability. In this case, as many others, perception is as close to reality as it gets. Another phrase for it, of course, is mass hysteria. Tongue