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> “Euro’s a dollar, Euro’s a dollar twenty, oh, Euro’s a dollar again” just sounds less dramatic than “Bitcoin’s $40K, Bitcoin’s $50K, omg, Bitcoin’s lost $10K and is $40K again!”

Six months ago, Bitcoin was literally selling for 25% of its current price (~$11,500), and about half its rise has been in the last two months.

Twenty years ago, the Euro didn't look that volatile. It bottomed out at ~70% of its previous high, and it took two years to get there.

https://fxtop.com/en/historical-exchange-rates-graph-zoom.ph...



Toggle the “Candlestick chart” on your diagram.

Though it could and did change percentage points a day, financial industry was still comfortable how to do business with ongoing volatility.

Those same mechanisms are useful here, meaning volatility isn’t the thing that precludes what Citi is discussing.




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