[hackerspaces] bitcoin (Christopher Pilkington)

[Mel]

The bitcoin exchange rate is profoundly driven by speculation for the time
being, it seems. The fact that bitcoins are getting more and more "buzz"
around the Internet and media is not helping, which is why I don't think
it's as stable as others deem it to be.

2011/5/30 Yves Quemener <quemener.yves at free.fr>

>  Its fun to watch the system unfold, im not sure it will be the final
>> solution, once the last bitcoin is mined it will be interesting to see
>> where the value of a bitcoin lands in the real world  (is it worth a
>> coffee?  how about a cow? or a new laptop? right now sellers who offer
>> goods for bitcoins, and bitcents are having the real issue of
>> conversion prices,  when the snack store opened i tihnk theprices were
>> great for $2.50 per btc, when the btc went up to $7 id have to say
>> their prices were comparatively 600% over retail. (not real math just
>> a guess) i see they are adjusting based on market averages but its
>> still tricky.
>>
>
> You know, before this conversation I had in mind the 0.8$/BTC rate that was
> the one when I mined my 50 coins. I did not expect it to reach such heights
> quickly. 800% in less than 2 months seems somewhat excessive.
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