Are Bitcoins A Dead Duck?

They're pretty much dead as anything other than a currency for illegal goods and as speculation vehicle. Have you seen the historical price chart? Even before mtgox shut down and "lost" $450 million in coins, the value of a coin could rise or fall by hundreds of dollars in a few hours. Not a particularly good property for a currency for everyday use to have.

How do you know that was fluctuation in the value of bitcoin and not fluctuation in the value of the dollar? Maybe bitcoin *is* the stable currency and we are just using an unstable reference... ;)

The value of the dollar against the value of a cold beer certainly seems to fluctuate depending on whether you're in the grocery store or a baseball stadium.

Hot dogs also seem to follow that scenario.

Jamie

I think you can get a fairly good read on that by looking at the relative amounts of the currencies being "traded" in the various pools. If the Bitcoin moves suddenly relative to most of the major world currencies, and the world currencies don't move very much at all relative to one another, then I think you can figure out which is the "herd of brontosauri" and which is the "mouse", and who is actually moving.

There are, of course, those who are so enamoured of the Bitcoin that they'll come up with all sorts of stories and explanations as to why it's otherwise ...

... but that's clearly a case of the dogma wagging the tale.

(G,D,RLH)

On Thu, 22 May 2014 17:22:44 -0700, snipped-for-privacy@coop.radagast.org (David Platt) Gave us:

How karmic of you...

When that tail thing is going on, is it karmic dogma or dogmic karma?

His karma ran over your dogma.

On Thu, 22 May 2014 22:18:01 -0400, snipped-for-privacy@attt.bizz Gave us:

Is that the tale of the tail or the tail of the tale?

On Thu, 22 May 2014 19:23:29 -0700, DecadentLinuxUserNumeroUno Gave us:

Is that the tell of the tale of the tail or the tell of the tail of the tale?

He must have put on his Tailisman and ran.

Due tale...