[ExI] Bitcoin

[Gordon]

Mirco Romanato <painlord2k at libero.it> wrote:


Il 08/04/2013 10:17, Gordon ha scritto:

>> When I started this thread about five days ago, on April 3, BTC was
>> trading around $100 USD. The last trade as of this moment was $180 USD.
>> An 80% return in five days! I think it is fair to say that something
>> extraordinary is going on here.

>It is 400% in 30 days.
>Not bad, indeed.


Now trading at about 236 USD! The market cap of Bitcoin doubled from $1 billion to more than $2 billion in just 11 days. Remarkable! 

A correction in the market seems inevitable. What do you suppose might trigger it?  One concern I have is that for transactional purposes--for purposes of buying and selling goods and services--a relatively stable currency is best. BTC is anything but stable at this point, making it difficult for buyers and sellers to make rational decisions in their commerce.

I'm guessing that at this early stage in the life of BTC, most merchants who accept BTC are also speculators willing to bet on the growth of the currency. Larger, more conservative players might find the volatility worrisome. They'll need a way to exchange large amounts of BTC into ordinary currency each day, if not after each transaction, but the market might still be too thin. Realization of this might damper the enthusiasm and contribute to a correction. 

-Gordon 
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