Post
Topic
Board Beginners & Help
Re: How much systemic risk in BTC?
by
anonimouse
on 21/06/2011, 21:04:38 UTC
For myself bitcoins has many problems.

1. who and how makes the decision about the wallet software.
2. there are to many people with a to big amount % of bitcoins. They can crash with a sell of 350.000 the whole currency.
3. how i can build a business on a currency which isn't stabilized.

that so far

i was going to say these exact same things.

#1) the wallet is not secure at the moment, and until an EASY, SAFE solution is developed, people will have a hard time adopting BTC
#2) MtGox stepped in and "regulated" the "unregulated" currency because of the high volume sell.  the economy is extremely unstable because of its nature
#3) if i were a business, i would not accept BTC.  it would suck to sell one of your items, only to have your profits discounted 50% a few hours later due to market movements.  investors and individuals need not worry about this, but businesses won't be interested in the uncertainty.