[jMyles]

> that's all I care about

Well that's a bit short-sighted then.

Plenty of people care about a lot more than that in a currency, namely that is it responsibly and equitably managed. Bitcoin is not this, of course, but it's a giant step in the right direction compared to the Federal Reserve.

[forgetsusername]

>Bitcoin is not this, of course,

Then why should I care about it?

>"It's a giant step in the right direction compared to the Federal Reserve.

The Fed system is far from perfect, but despite what the conspiracy theorists think, it didn't spring out of some sinister idea; it's the evolution of a complex financial system that has generated more wealth, for more people, faster, than at any point in history. Those are facts that you're up against when promoting Bitcoin, a system where some early adopters think they are going to hoard the currency until they get rich from it, because other people can't obtain it. Why would any outsiders buy into that system? That's the thing that some people can't grasp; there is no reason whatsoever for your currency to be scarce. It should grow to match demand.

[rhino369]

No, it's a massive step in the wrong direction compared to the federal reserve. There is reason bitcoins value wildly fluctuates and the US dollars doesn't.

[statoshi]

Not really - it's more because the dollar-based economy is massive in comparison to Bitcoin and thus has much higher capital requirements to move the market. If you think that centrally managed currencies are great, you should probably read the multitude of horror stories. Here's a recent one: http://bloom.bg/1ryY2ZK

[bigmanwalter]

Isn't it because big ships don't maneuver so quickly?

[rhino369]

No it's because the fed actively manages money supply while Bitcoin managed money supply by setting money growth at a predetermined rate.

That and the vast majority of bitcoins are held for speculation instead of used as a currency.

[CyberDildonics]

Many other countries have currencies that fluctuate wildly even with their own central banks. Is the US just better at managing it? The Yen lost half of its value a few years ago.