Quote from: ShowOff on Today at 02:26:07 PM

Sorry @o_e_l_e_o, I don't really understand how bitcoin will have a relatively stable price/ the price drop to a minimum when it reach global adoption while we know that bitcoin price is quite volatile long ago. So far I only know that every bitcoin sold in large quantities will affect the price quickly and the price will drop temporarily.

The bitcoin market is still relatively tiny, and smaller markets are more volatile. At present, a single large investor can move the price enough to trigger a bunch of stop losses and set off a large cascade resulting in a significant price shift. If we ever reach the point where a majority of people in the world are using bitcoin, then the relative power of any single user falls enough that this is no longer possible. Sure, we will still have price fluctuations, but a fluctuation of $100 a day when the price of $100,000 doesn't really matter compared to the same fluctuation at the price of $1000. Plus if we ever reach the point that bitcoin is the dominant global currency, then people will stop thinking of bitcoin in terms of how much fiat it is worth and simply think of 1 BTC = 1 BTC.

There's a great discussion from Andreas Antonopoulos about this in 2 minutes starting here: https://youtu.be/6IDzpvmGzxo?t=2520

Quote from: BlackHatCoiner on Today at 02:45:51 PM

o_e_l_e_o probably takes it for granted that the island will someday stop having newcomers. In that case, it'd surely be less volatile.

Not necessarily. If you have 1000 people using bitcoin and 1000 more arrive, then that is a huge shock to the system. If you have a billion people using bitcoin and 1000 more arrive, it makes no difference at all.