Hacker News Reader

You are incorrect in the belief, that currencies of developed world do not fluctuate.

Yuan is much worse, though it doesn't matter that much due to capital control: http://www.macrotrends.net/2575/us-dollar-yuan-exchange-rate...

I don't recall the GP saying currencies don't fluctuate. But there's a few orders of magnitude difference in the rate at which they fluctuate.

If we compare only fluctuation down, then except for the first bitcoin bubble, they are actually the same magnitude difference: around 2x

Though fiat currencies fluctuate less frequent so far.

Incidentally, US dollar is the most well managed currency and that is why Americans do not understand the value of bitcoin.