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Old 06-18-2013, 11:07 AM  
BlackCrayon
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Join Date: Jun 2003
Location: Ottawa
Posts: 19,631
Quote:
Originally Posted by holograph View Post
the exchange value is irrelevant to solidness of technical aspect of the network and its protocol. Bitcoin network processes transactions the same way whether bitcoin evaluates at $1 or $1,000.

the seemingly stable dollar used to be able to buy a loaf of bread for a few cents if not for a penny back in the day, you and I don't remember that and it is kind of irrelevant to us what the prices and purchasing power were before our time. although the dollar is sort of the same, the loaf of bread is sort of the same, only 100 years later the same loaf of bread costs what, 100-500 times more. and your grand grand kids wont be able to buy a loaf of bread for the same price you pay today.

*IF* once bitcoin gets its momentum and stabilizes with significant volumes and value and more commercial use instead of speculative trading, then we'll see how dollar fluctuates and its dynamics of weakening value when paired against with bitcoin. for now it seemingly stable being world's reserve currency, everything is pegged to it. we pray china won't dump their usd and mainly other US securities. else the bread could end up costing hundreds of solid dollar bills not to mentioned global crisis, depression, civil unrest.
sure but i am talking about the here and now. of course over time things will happen to make a dollar worth less or worth more but with bitcoin, its value can change from day to day so much its crazy. if bitcoin does ever "completely" stabilize then all the people holding bitcoins for investment/speculation reasons will most likely get out causing a crash in the price of bitcoin.

i stopped posting in bitcoin threads because what will happen is anyone's best guess but i think its safer to assume bad things will happen with bitcoin rather than good simply because its so new, not well understood and has a huge uphill battle to become commonplace. we both have our views and biases but i thikn people like myself are looking at it more objectively than people like yourself who i assume have a vested interest in it.
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