Quote from: Misesian on December 07, 2013, 12:52:07 PM

Quote from: deisik on December 07, 2013, 12:33:17 PM

Quote from: Shneebly on December 06, 2013, 08:55:51 AM

I disagree with your premise. Bitcoin makes a fantastic medium of exchange (best in human history), and due to the predictability and certainty of mining new Bitcoins (at predetermined rates), and the lack of monetary inflation, it will also make a great store of value.

How could it possibly be "a fantastic medium of exchange" with that type of volatility? For a medium of exchange, it is of utmost importance beyond anything else that its exchange rate to a basket of other main currencies be as stable as ever possible. If you are curious, this stability is predetermined by the size of the economy a currency encompasses...

The volatility you're talking about is when you price bitcoins in fiat money in which the supply is constantly expanding (fiat), we are forced to use centrally controlled fiat money because that is what our masters demand we pay our taxes in, if we had a system of free banking who would use a currency that was centrally controlled by government? Everybody would be using things like gold, silver and bitcoins because they provide many more advantages as currency one of them being a reliable store of value.

What's the point, if the price in BTC of the same service or good changes in a minute to minute rate? I could sell my house in the morning and not be able to buy the same house (or a similar one) in the afternoon of the same day.