Jordan Lee, March 27, 2014: "Bitcoin and Peercoin are too volatile for use in ordinary business transactions. They are not currencies. They are cryptocommodities"

Jordan Lee, March 27, 2014:"I doubt that is what David is implying. This tax ruling (which shouldn't have surprised anyone), brings focus to the unpleasant fact that Bitcoin and Peercoin are too volatile for use in ordinary business transactions. They are not currencies. They are cryptocommodities. We need a cryptocurrency: something stable in value that has no capital gains or losses and no attendant accounting complexities.There was a time when I believed Bitcoin would provide a permanent and stable foundation for a decentralized financial ecosystem. Sunny King had the courage to see that this was unfortunately not the case, but he didn't admit defeat. He engineered Peercoin as a solution to the shortcomings of Bitcoin. We must be honest and brave in admitting the flaws of Peercoin to begin to able to engineer a solution to those shortcomings. If you can articulate a problem well, a solution tends to emerge.Bitcoin is made obsolete by Peercoin. I don't think Peercoin has to rendered obsolete to engineer a solution to its volatility problem, but I do think it is time to stop imagining Peercoin can make a good currency in its present form. That is emotionally challenging for a lot of people on this forum." via /r/CryptoCurrency http://bit.ly/1Ff0wwz