Quote from: deisik on May 19, 2017, 01:17:08 PM

Quote from: cryptogeek101 on May 19, 2017, 09:39:39 AM

Bitcoin is moving to $2000 today. What is the impact of this geometrical price movement to the world financial system? Let us discuss.

In just one word, nothing

In more than just one word, the price itself is meaningless outside the exchanges (since Bitcoin is not used in real life), so there is no way it can affect the world financial system. And it is not the price alone which matters. If someone sold 1 satoshi for 1 dollar, would that mean anything? Apart from that, the price can easily lose all reference even between exchanges if there happens a thing which I called Bitcoin Big Rip. With higher prices we will see higher volatilities (in fact, we are already seeing them), up to a point where volatility becomes comparable to price itself. That would be a Big Rip event or moment

This. We should treat Bitcoin like gold or stocks, an investment. The idea of it replacing fiat as a currency may be a pipedream.

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