A cryptocurrency with volatility can't be used as money - page 10.

martinholly167

sr. member

Activity: 658

Merit: 250

Quote from: goldkingcoiner on September 09, 2018, 08:46:53 AM

Once bitcoin reaches or almost reaches the cap and mining no longer makes sense in a profit sense, I think the volatility will either die down completely or almost completely... After that point, bitcoin will go up or down in linear fashions long term.

That makes sense, but also there is one more important thing which is the volume.
Cryptocurrencies still need to have much more volume than the current volume, so there wont be any significant movement if whales are exchanging their coins/tokens.

NewRanger

sr. member

Activity: 1582

Merit: 333

Buzz App - Spin wheel, farm rewards

Quote from: denuhaqiqi on October 14, 2018, 12:35:04 AM

Crypto currencies cannot be used as real currencies like fiat, due to their volatility and scalability. research is needed first, to take into account its advantages and disadvantages. fiat is still needed.

fiat would not replaced by any digitial currency such as cryptocurrency.but cryptocurrency provide alternative in new era of technology, which is every thing need be done fastly.such as for international trade payment.cryptocurrency has many advantages if used in this world.

tanxpresisit514

newbie

Activity: 75

Merit: 0

Quote from: visionE2 on September 13, 2018, 03:37:04 AM

I think this is no different from fiat money, even when compared to bitcoin, the depreciation of fiat seems to be worse than bitcoin from the past to the present

Cryptocurrency can still be used as money and used as a means of payment. Regarding the cryptocurrency price fluctuation, it is a natural occurrence where the ratio of sales and demand that is not comparable will cause price fluctuations.

denuhaqiqi

jr. member

Activity: 420

Merit: 1

Crypto currencies cannot be used as real currencies like fiat, due to their volatility and scalability. research is needed first, to take into account its advantages and disadvantages. fiat is still needed.

Koenraad Lange

newbie

Activity: 84

Merit: 0

Quote from: Glok17 on August 18, 2018, 04:48:22 AM

I don't think that you are right because cryptocurrencies are already used as money and the process is developing successfully. Of course, if volatility will lessen it will be better, but it is already a decent system.

I think after bitcoin is converted into paper money, that is the exchange rate agreement between the seller and the buyer. That is, the exchange rate used at the time of exchange cannot be debated whether the price then rises or even falls which is part of the business. Fiat money has no problems, but the value of bitcoin is a problem, when exchanged with fiat money will be profit or loss.

shulc7

full member

Activity: 518

Merit: 100

The crypto is the currency but not the money. The author is absolutely right - as soon as it is very volatile, it cannot be used as traditional money. I guess, no one will agree (for example) to get his salary in altcoins or Bitcoin now.

Phophobobooo

newbie

Activity: 56

Merit: 0

If there is some part of the world who wants to use the crypto currencies instead of the paper money in their daily usage, then they will plan the things accordingly. I am in very much favor of this thing that such things can happen and that they should happen to make this world much better place and economically stronger.

XiXiMios

newbie

Activity: 56

Merit: 0

Crypto currency with its high volatility can be used as money, but not as basic, but along with the circulation of ordinary national money of the state. Parallel circulation of the crypto currency can not cause damage to the country's economy by its volatility, since the planning of the economy, the price of goods and services will be indicated in the national currency.

GreenRydia

newbie

Activity: 15

Merit: 0

I get your point that a currency with volatility is not suitable as a currency for our daily needs. Yes it doesn't affect the price of the item you bought when the Bitcoin price goes down but then the profitability of the items will decrease since the merchants are also using Bitcoin to buy the things they sell.

visionE2

full member

Activity: 616

Merit: 118

I think this is no different from fiat money, even when compared to bitcoin, the depreciation of fiat seems to be worse than bitcoin from the past to the present

Robbio

newbie

Activity: 130

Merit: 0

Volatility is only temporary, the cryptocurrency has only just appeared for ten years, and it takes another ten years to stabilize. It is unstable now and there are many investors. You don't have to worry about cryptocurrencies becoming expensive coins.

Nnedaddy1

copper member

Activity: 294

Merit: 1

I agree completely.

For cryptocurrency to be used as money, it must be stable . It is the stability that will make it function as money easily.

Gogosialver

newbie

Activity: 71

Merit: 0

Price has to be stable if governments who is the major player can adopt cryptocurrencies. Many people have said good things about cryptocurrencies but the reason why they could not used it is because of the volatility.

goldkingcoiner

legendary

Activity: 2226

Merit: 1971

A Bitcoiner chooses. A slave obeys.

Quote from: Caotodoxunir on September 08, 2018, 10:30:31 PM

If fiat would have been like this then I am pretty sure that economy of the whole world could have collapsed in matte of seconds. I mean fluctuations can cause the prices of stuff around us go crazy, we would have never put a price tag on the candy bar as we would not know whats the value of same currency next day with which we gonna buy it. Dont you think that this is the case.

Once bitcoin reaches or almost reaches the cap and mining no longer makes sense in a profit sense, I think the volatility will either die down completely or almost completely... After that point, bitcoin will go up or down in linear fashions long term.

Caotodoxunir

newbie

Activity: 65

Merit: 0

If fiat would have been like this then I am pretty sure that economy of the whole world could have collapsed in matte of seconds. I mean fluctuations can cause the prices of stuff around us go crazy, we would have never put a price tag on the candy bar as we would not know whats the value of same currency next day with which we gonna buy it. Dont you think that this is the case.

Kakawate

full member

Activity: 378

Merit: 100

Quote from: Dncer on May 09, 2018, 04:04:40 AM

I'm just reading an article in the newspaper. Klaus W. Wellershoff (a last chief in UBS Bank) says that's impossible to use a currency with volatility as money. If the value of the money decrease, that means the value of the merchandise decrease. For example : if you buy a flat with bitcoin and few years later the bitcoin value decrease... Your flat lose his value as well.

What do you think about this argument?

In my opinion, the issue about cryptocurrency being volatile is only because it is not being used as the worlds currency like our current fiat system today, once cryptocurrency is the one being used as our worlds currency then I believe this issue about cryptocurrencies being volatile will be gone.

Portia12

full member

Activity: 434

Merit: 105

ADAB ICO

Quote from: Burogh on August 24, 2018, 07:23:49 PM

Quote from: Scripture on August 17, 2018, 08:51:25 AM

Are you pertaining to the inflation rate where the purchasing power of money decreases over time?. Example is that when you have a dollar you can buy a lot but now its just the same value of a candy. This is different from cryptocurrency's volatility. Its half investment either so its normal to fluctuate.

Some peoples hiding the fact that inflation always decrease our money value. Inflation always happen on fiat because central banks always print money to boost economic growth but fiat money always losing purchasing power

It was normal for inflation to happen since cryptocurrency is increasing its demand in the market and that is the reason why you should invest a huge amount today, in order to earn more profit in the future.

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: biletskiy on August 18, 2018, 03:38:21 AM

Quote from: voztata on August 14, 2018, 05:31:44 AM

Quote from: Dncer on May 09, 2018, 04:04:40 AM

I'm just reading an article in the newspaper. Klaus W. Wellershoff (a last chief in UBS Bank) says that's impossible to use a currency with volatility as money. If the value of the money decrease, that means the value of the merchandise decrease. For example : if you buy a flat with bitcoin and few years later the bitcoin value decrease... Your flat lose his value as well.

What do you think about this argument?

Is there any cryptocurrency without volatility? Every cryptocurrency in the market fluctuate up and down and they all can be manipulated. I don’t know why people are fond of saying this in a way that Bitcoin is the only cryptocurrency we have that is volatile, they never mention other ones like Bitcoin Cash that is also very volatile, including Ethereum, Litecoin, Dogecoin, Ripple and all of them out there all volatile.

The guy who left this post here was interested in something different. He asked if Bitcoin, being so volatile, could be used as the money. My answer is no but it is the coolest currency to work with it online and earn on it.

Nope, I think if bitcoin can't be used as a currency, why are there many merchants who have used bitcoin as a payment option? isn't that a function of currency? they have a system where bitcoin will be converted to fiat so that fluctuations will no longer apply for them..

Burogh

member

Activity: 644

Merit: 10

COVIR.IO

Quote from: Scripture on August 17, 2018, 08:51:25 AM

Are you pertaining to the inflation rate where the purchasing power of money decreases over time?. Example is that when you have a dollar you can buy a lot but now its just the same value of a candy. This is different from cryptocurrency's volatility. Its half investment either so its normal to fluctuate.

Some peoples hiding the fact that inflation always decrease our money value. Inflation always happen on fiat because central banks always print money to boost economic growth but fiat money always losing purchasing power

Gabb

full member

Activity: 392

Merit: 105

It is true, the current condition of high volatility in the cryptocurrency market makes them very little useful as a store of value or as currencies. Personally, I have only been using bitcoin as a means of payment, since from my personal experience it fulfills that function quite efficiently, compared to more conventional methods such as PayPal or Skrill.

However, I do not believe that the current condition of volatility will last forever, and as the market grows and matures, it will be gradually difficult to see the current high volatility scenarios, with bitcoin tending to behave like fiat currencies in the long run.

Topic: A cryptocurrency with volatility can't be used as money - page 10. (Read 34041 times)