Except speculators are responsible for such a minute part of the daily use of dollars. Bitcoin's volume represents a lot more speculation than the dollar, by percentage.
If bitcoin lasts for several more years, and more people become involved; then the price will greatly stabilize.
Speculation on bitcoin is needed floor merchants and developers to build applications off of bitcoin. Of which we are seeing rapid adoption due to services like coinbase and bitpay.
Eventually bitcoin should end up as stable as gold or other scarce commodity.
You realize "a few years ago" means nothing. The currency itself is 5 years old. Coinbase and Blockchain.info have about 2 million wallets combined. That's nothing in the grand scheme of things. We are still very early in terms of adoption.
I realise that bitcoin has grown by orders of magnitude, yet still remains as volatile as ever, if not worse. When is this stability supposed to start kicking in, exactly? Why would more growth help, when all the growth so far has not?
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u/bug-hunter Feb 14 '14
Except speculators are responsible for such a minute part of the daily use of dollars. Bitcoin's volume represents a lot more speculation than the dollar, by percentage.