Quote from: AltorXP on February 09, 2014, 01:56:45 AM

Quote from: James222 on February 09, 2014, 12:40:22 AM

No. Their value changes too quickly. Also it would need to be governement restricted and I'm talking about mining. Just imagine if it'd be a currency. People would save 10 K in bitcoins then start mining. Everyone would do it so there would be no companies or so except for asic. Bitcoin is made for virtual and only virtual in my opinion

Their value wouldn't change at all if bitcoin was not based on any fiat currencies (if bitcoin did replace all fiat currencies), but the goverments would never let that happen. If bitcoin was as accepted as fiat today, volatility would be reduced to almost nothing.

This seem correct to me.

The bubbles and Ponzi schemes we see with fiat currencies are made possible by dumping the gold standard, that in addition to a lot of spin-doctor mathematics to make air look like a good investment