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Distinguish between "price" and "value" when explaining *price* volatility

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Similar to how we would not say cars are volatile if large price
swings for cars happen often, we shouldn't say Bitcoin is volatile
because its price is volatile.
It's important to distinguish between the underlying technology
that is Bitcoin, and the price of the tradable currency unit
within this network. The currency units may fluctuate often and
greatly in price, but the Bitcoin technology itself is not volatile
because of this.

Additionally, I've used the lowercase "bitcoin" when talking about
the currency *unit* rather than the "Bitcoin" technology/network.
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Rune K. Svendsen 2013-03-22 02:12:45 +01:00
parent 6aca5ec3e2
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en/you-need-to-know.html
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@ -22,8 +22,8 @@ title: Some things you need to know - Bitcoin
<p>An offline backup of a wallet provides the highest level of security for savings. It involves storing a wallet only on paper and on usb keys in different secured locations that are not connected to the network. This is a good protection against computer failures, computer vulnerabilities, theft and human mistakes. As of today, this approach still requires some technical knowledge to be done correctly.</p>
</div>
<h2><img src="/img/ico_market.svg" alt="Volatile" />Bitcoin value is volatile</h2>
<p>The value of Bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes-illiquid markets. Consequently, keeping your savings in Bitcoin is not recommended. Bitcoin should be considered as a high risk asset and you should never store money that you cannot afford to lose with Bitcoin. If you receive payments with Bitcoin, many service providers allow you to convert them instantly to your local currency.</p>
<h2><img src="/img/ico_market.svg" alt="Volatile" />Bitcoin price is volatile</h2>
<p>The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings in bitcoin is not recommended. Bitcoin should be considered as a high risk asset, and you should never store money that you cannot afford to lose with Bitcoin. If you receive payments with Bitcoin, many service providers allow you to convert them instantly to your local currency.</p>
<h2><img src="/img/ico_irreversible.svg" alt="Irreversible" />Bitcoin payments are irreversible</h2>
<p>Any transaction you issue with Bitcoin cannot be reversed. It can only be refunded by the person receiving the funds. That means you should take care to do business with people or organizations you know and trust. But don't worry, Bitcoin can detect typos and usually won't let you send money to an invalid address.</p>