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You seem to believe that the value of bitcoin could possibly be more predictable than the value of traditional currencies. Since bitcoin will be / is almost exclusively an investment vehicle it will (almost by definition) have an unpredictable value. [1] Traditional currencies will be somewhat predictable because they have a central bank actively managing the supply.

[1] http://en.wikipedia.org/wiki/A_Random_Walk_Down_Wall_Street

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Given equal liquidity, a purer market should deliver less volatility than an actively managed one.

That reads like a credo.

Both systems contain massive speculator involvement. Only one system contains single overarching actor with ability to manipulate values at will.

Pretty obvious which will be more stable.

@gahahaha

All historic gold currencies I know of were actively managed: Debasement, re-pegging, temporary abandonment to pay off debts via inflation - all were common practice under gold standard.

None are (should be) possible with Bitcoin.

History shows pretty clearly that actively managed currencies with a central bank are far more stable than for example gold or bitcoin. I don't see how you can argue otherwise.

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