Post
Topic
Board Economics
Re: Cryptocurrency Volatility: Creeping Evil or Essence of Crypto
by
ausbit
on 25/12/2018, 10:08:40 UTC
I don’t think the goal was to make something that would become a currency in any society, the goal was to create a way of making quick and cheap transactions. Bitcoin is a lot of different from banks and other payment systems, you don’t need emails or to fill out any long information concerning the person you’re sending money to. All you need is just their wallet address and you’re good to go, just copy and paste and that’s it, within a few seconds they have got their money.

Come. To think of it, a lot of people here are investing their money in Bitcoin because they see it as an investment and not as a currency like a few of us would say. So if majority of us here are investing their money because they see it as an investment, that means the volatility is needed, cause if it’s stable a lot of people would lose interest and the value will drop.
Yes you’re right, a lot of us are here because we want to invest and make profit. If it wasn’t volatile you wouldn’t be making any profit from it. I don’t think it is a currency, it is highly volatile and nobody would like to make use of a currency that is highly volatile like cryptocurrency. I remember losing a lot of money once when I tried to make use of Bitcoin as savings for a week. The truth is that it is just like a gambling, you might gain profit or you lose, that’s why it’s risky.