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A comment on Ask HN: For Bitcoin to be ubiquitous, what must happen?.

Re:Ask HN: For Bitcoin to be ubiquitous, what must happen? by Johnie on Sunday November 17, 2013 @03:56PM (#6750813)
Price stability is one major factor.

Unstable currency is bad for both consumers and merchants. When the volatility is high, it is high risk for people that hold that currency. Consumers and merchants are not interested in hedging their currency risk and rather focus on using the currency.

Let's say that the value of USD fluctuates 10% per day, most people would not hold USD; they would rather hold a currency that is stable or move to gold. Same thing is happening with BTC.

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Re:Ask HN: For Bitcoin to be ubiquitous, what must happen? by erikpukinskis on Sunday November 17, 2013 @04:24PM (#6750954)
Bitcoin will only be unstable as long as there is disagreement about the economics of it. Once we get reasonably close to consensus about that, price will stabilize to where the consensus model says it should be.

I suspect that won't happen until some time after the current crop of incoming economics PhDs are tenured.

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