Re:Bitcoin Sinks to $41,000 Amid ‘Extreme Fear’
by vmception on Friday January 07, 2022 @11:37AM
(#29841205)
if I ever purchased bitcoin specifically to send it to someone else, it would happen so fast that extreme market volatility is so improbable that the user experience isn't different than any other form of payment
These are 24/7 markets, so even extreme market volatility happens over 3 trading sessions compared to something like equities, making any single 1-20 minute time period not volatile at all
Many people also already own bitcoin, which is a major contributing reason as to why the price is what it is, they dont have to go buy bitcoin when they get ready to send it. They dont have to wait for exchanges to accept their dollars, they dont have to wait for exchanges to process a withdrawal, and they can also move unlimited amounts.
These are 24/7 markets, so even extreme market volatility happens over 3 trading sessions compared to something like equities, making any single 1-20 minute time period not volatile at all
Many people also already own bitcoin, which is a major contributing reason as to why the price is what it is, they dont have to go buy bitcoin when they get ready to send it. They dont have to wait for exchanges to accept their dollars, they dont have to wait for exchanges to process a withdrawal, and they can also move unlimited amounts.
Even as a facetious joke, there are better ones