Crypto is a speculative market. That doesn’t make it a good currency - in fact, it makes it a very bad currency. Bitcoins changing in value so much and so rapidly makes them awful for use as a daily currency, and they’re backed by fiat currencies anyways because otherwise, they’d have no value.
The only reason people care about crypto is because they think they can make a lot of money off of it when they hand the bag off to somebody else.
“[Fiat currency] is a speculative market. That doesn’t make it a good currency - in fact, it makes it a very bad currency. [Dollars] changing in value so much and so rapidly makes them awful for use as a daily currency, and they’re backed by [gold] anyways because otherwise, they’d have no value.”
yes, yes, go on.
“The only reason people care about [fiat] is because they think they can make a lot of money off of it when they hand the bag off to somebody else.”
It’s good that fiat currency never really got a foothold or it looks like you wouldn’t have any argument.
Bitcoin dropped 0.68% 2 days ago, rose 1.13% yesterday, and has dropped 0.93% today. By comparison, the dollar dropped 0.00995% in the last 24 hours compared to the Euro, with the largest change being a +0.14703% change compared to the Australian dollar.
On Jan 1st, 2018, 1 bitcoin was worth $15,196.60. One year later, it was worth $3,851.92. As of this moment, it’s worth $61,721.47, has dropped 6.11% this week, and gone up 10% in the last 30 days - making it worth $5,613.31 more than it was at the start of September.
Since 2017, 1 bitcoin has gone up 1,291.05% in value. 1 USD in 2017 is worth $1.28 today - an increase of 28% over 7 years and an average inflation rate of 3.64%. The current inflation rate compared to the end of last year is now 2.53%. If this number holds, $1 today will be worth $1.03 next year.
Tell me which one is the more stable currency to base your product’s prices on. Pricing things in Bitcoin is like pricing them in stocks.
or like The fluctuations in gold, silver, fiat or commodities when they first appeared in the market.
Good thing none of those panned out or you wouldn’t have a leg to stand on.
