2011/6/18 Mike Frank <[email protected]> > Bitcoin has experienced up-and-down fluctuations in value by more than 40% > quite regularly. It dropped by more than 50% just last week.
Sorry, when I say "40% drop", I don't mean day-to-day or hour-to-hour fluctuations. The 50% drop was off a peak that lasted at most 3 days; I'm talking about coming to a place where people accepting bitcoin as everyday payment see that their holdings are worth less than when they got them. > > I therefore find Bitcoin's security guarantees to be quite convincing... > > I agree, though again, I don't believe bitcoin are a worth what they go for today. I would happily nakedly short bitcoin up to 10% of my net worth today, on a 2 year option period, if I could do so conveniently and without risk of getting called prematurely. I understand that by capping my downside at 10x that's not technically a fair bet, but since my utility for bankruptcy is more than 10x worse my utility for losing 10%, I think it is fair in utility terms.
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