Ninjastic
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Board Economics
Re: The fluctuation in pricing..
by
rickadone
on 05/10/2017, 17:33:02 UTC
Quote from: CardShare on May 31, 2017, 02:58:27 AM
Quote from: Silberman on May 31, 2017, 02:43:24 AM
Quote from: beantownsox87 on May 30, 2017, 08:52:08 PM
is creating a wall that makes it harder for BTCto be a universal economic currency. Stores may take 1BTC for a product and in the AM that 1BTC could be valued at .08BTC. Obviously theres a ton of positives to this happening I think more than negatives. I for one hope it does though because USD is getting old Smiley
Bitcoin is not that volatile you are talking about bitcoin losing more than 90% of its value in less than a few hours, while there are variations in price such wild variations are not going to happen with bitcoin for the simple reason you will need hyper inflation for that to happen and that is impossible in  bitcoin, other currencies have followed that path like the mark of the Wiemar republic.

There is always a possibility of it crashing it can never be ruled out. I doubt it would happen in a few hours but the possibility is always there for it to drop in value.
Many factors could cause this.

World Wide Black outs.
Sustained attack on the blockchain
Even solar radiation could knock out all the computers in the world at some point and it would be bye bye all crypto!
Those scenarios you just created in your head can only happen in movies and I do not see how that can easily just play out worldwide. Worldwide black out ? Come on! You must be likening that to Armageddon and in that case, we won't even need fiats cause banks may not even be able to operate.

Sustained attack on the blockchain may be possible but not like the devs are stupid. Ok! let me just stop it there, let us just hope for the best than imagining things that could possibly not occur.