Post
Topic
Board Speculation
Re: Same old song and dance.
by
piramida
on 07/08/2011, 20:55:14 UTC
Bitcons can not exist in a vacuum, without being traded for other currencies. Whether you like it or not, bitcoins without exchange = no bitcoins, no business would ever adopt that idea of selling their stock for non-exchangeable illiquid commodity.

So no, you are wrong. Bitcoin speculators and "bots" create volatility which helps find the current market value for BTC, and once it stabilized these exchange will make bitcoins liquid. And that would help business to accept it and finally may come a day, many many years from now, when a business would be able to run completely on BTC, without exchanging into fiat money. Greed, as bad as it is, is the only possibility to attract real money to the project - there aren't that many altruistic deep pockets, and they are all busy saving the world. Real money would equal real businesses down the line. It is needed.

So original post can be deleted, you could have spent 15 minutes thinking about it first.