Quote from: Inedible on October 22, 2011, 08:09:13 PM

Quote from: cypherdoc on October 22, 2011, 07:56:07 PM

if you're so against gambling why are you hanging out in the Speculation Board?

Not sure he's against gambling.

Looks like to me he's saying that traders are having a hard time accepting Bitcoin for trading due to the wild fluctuations and if Bitcoin doesn't get traction as a currency then it'll never succeed.

I can see why merchants would have a problem with the volatility.

I can see why speculators want to speculate.

In the grand scheme of things I'd say if you let the merchants do their thing first, Bitcoin gains traction as a currency, everyone wins. If you let the speculators do their thing first, there might not be anything left.

i think you have it backwards. first of all traders love volatility. second no one can control speculators or the markets so no sense knocking them. third if speculators are successful at driving the price of Bitcoin higher, this encourages merchants to jump in with innovative businesses related to Bitcoin. we saw this excitement in the Spring. so i don't begrudge speculators at all. this is how markets work.