volatility is no good for miners , price needs to go up not down because difficulty increases over time increasing your costs, current bitcoin price $497 . As a form of payment its looking really bad if this volatiliy isnt limited to no more than 5% over 3 months not the current almost 50% ( 3 month high/low 951-478). What is the benefit for me buying 1 bitcoin to pay for something here or overseas if i am still being charged the exchange rate to buy the bitcoin and a commission to the broker.
https://www.btradeaustralia.com/
Current price to buy 1 bitcoin for someone in AUSTRALIA is current bitcoin price of 500 US dollars times the exchange rate and a 4.9% buy commission is around $583
I get more bang for my buck using the current system and im not exposed to holding a volatile currency , paying commissions to brokers to buy/sell bitcoins and i get interest in the bank.
MEJ Price at posting:
6.2¢ Sentiment: None Disclosure: Not Held
