After the price of Bitcoin as reported1 by various fiat/Bitcoin interfaces2 broke the 300 United States dollar resistance level near the end of October, extreme volatility has hit these interfaces. Volatility has taken the reported price from lows just above 300 United States dollar to just under and perhaps momentarily over 500 United States dollars. Many social media users following Bitcoin price appeared to celebrate breaking through 300 and 400 United States dollars and euros.3 It is uncertain where the price movement will continue in the near term. Users of fiat/Bitcoin interfaces are encouraged to keep all Bitcoin off of these interfaces aside from that intended to swiftly be converted into a local altcoin. In the past some extreme bouts of reported price volatility have been associated with the excited delirium which accompanies the insolvency and death of such an interface, as happened with Mt Gox.
This is decidedly distinct from the actual value of Bitcoin. Price as reported by fiat/Bitcoin interfaces is largely noise, and distinct from actual Bitcoin value. ↩
The extant major interfaces are decidedly distinct animals which are neither market nor exchange. ↩
The actual difference between these government sanctioned altcoins is minimal. ↩
It is true. My country's royal Goat-Bitcoin Exchange has been completely stable all week.
gBAAAAnga