BitPay Reduces Staff in Cost-Cutting Effort: CoinDesk
CFTC and TerraExchange Settle: Bitcoin Magazine
Bitcoin and Euro Has Same Volatility for 30 days: Cato Institute
BitPay seems to be unraveling at a breakneck pace. It seems unlikely that a company with their pedigree would just disappear, but people have thought that about a lot of former giants of the bitcoin industry.
If I were a betting man, I’d bet that BitPay will still exist in a year. There is a lot of outside money invested into bitcoin, it is hard to imagine that a 1.8m hack would kill it, but these aren’t the moves of a healthy company.
The Cato Institute story is a fascinating read. The number one slight on Bitcoin is that it is too volatile, but the Cato article illustrates how that is increasingly becoming not the case. While it is still very volatile overall compared to mainstay currencies like the Dollar and the Euro, it is quickly becoming a better option than some of the more volatile third world currencies or currencies that are consistently dropping in value.
Volatility will continue to be a problem, but outside of a few weeks here or there, 2015 has been relatively stable, even with us touching and even breaking the $200 floor a few times. I have a few friends that I only see once a month or so, this was the first year that it didn’t seem like I had price news for them every time I saw them.
We’d all love to see an upward trend of course, but in absence of that, and considering all the bad news we have faced over the past two years, I’d say some stability is welcome.