Re:Bitcoin is the Segway of Currency
by jboggan on Thursday November 21, 2013 @05:28PM
(#6777978)
I'm saving this to repost in 5 years. Ha.
There is a lot of uncertainty in establishing a value relative to the dollar because the positive Senate hearings on Monday injected ebullient chaos into the market. Wherever the value temporarily settles it will definitely be "more than last Friday."
Not to mention that most price stability mechanisms for other currencies and commodities don't yet exist for Bitcoin. There are arbitrage opportunities galore but few ways to technically implement them due to the nascent and fragmented market. That will change.
There is a lot of uncertainty in establishing a value relative to the dollar because the positive Senate hearings on Monday injected ebullient chaos into the market. Wherever the value temporarily settles it will definitely be "more than last Friday."
Not to mention that most price stability mechanisms for other currencies and commodities don't yet exist for Bitcoin. There are arbitrage opportunities galore but few ways to technically implement them due to the nascent and fragmented market. That will change.