Re:Crypto, the Left and Technofeudalism
by espadrine on Sunday April 24, 2022 @08:58AM
(#31143519)
> [Bitcoin will have] much more stability [than fiat]
Why would it reach more stability?
Historically, cryptocurrencies have been significantly more volatile, not less.
Arguments were made back in 2013[0] that:
> this volatility will decrease as Bitcoin markets and the technology matures
But volatility has remained consistent over the past 10 years[1], seemingly uncorrelated to its adoption, market cap, and coin supply. In the same period, USD was an order of magnitude better[2].
Why would it reach more stability?
Historically, cryptocurrencies have been significantly more volatile, not less. Arguments were made back in 2013[0] that:
> this volatility will decrease as Bitcoin markets and the technology matures
But volatility has remained consistent over the past 10 years[1], seemingly uncorrelated to its adoption, market cap, and coin supply. In the same period, USD was an order of magnitude better[2].
[0]: https://web.archive.org/web/20130916231759/https://bitcoin.o...
[1]: https://vlab.stern.nyu.edu/volatility/VOL.BTCUSD%3AFOREX-R.G...
[2]: https://vlab.stern.nyu.edu/volatility/VOL.DXY%3AFOREX-R.GARC...