That a currency has high volatility can not be reason enough for it not to be used as money.
Topic: A cryptocurrency with volatility can't be used as money - page 12. (Read 34026 times)
Fiat money have own market and called forex. In forex market, volatile always happen in market because many factor. Money and cryptocurrency is same like stocks or bonds, its always volatile. In any market, every commodities have volatile price including dollar or bitcoin. I think bitcoin can be used for currency if government regulation issued
If the exchange rate is very volatile, there are many transactions in real society that are difficult to accomplish. I believe that with the development of the community, bitcoin fluctuations will become smaller and smaller.
There is mega risk if this happens. Actually bitcoins is known or differentiated from other sources of income Is just because of this fluctuations. If you remove them or slightly decrease them through any means, you could be seeing a loss and unimportant bitcoin world that isn’t that much charming. This volatile makes the world of bitcoin different from others so we couldn’t slow it.
If there is no price stability, cryptocurrencies may be difficult to achieve widespread circulation and large-scale adoption!
In the future, when BTC is accepted by more people, the price will stabilize and spread around the world!
In the future, when BTC is accepted by more people, the price will stabilize and spread around the world!
If the exchange rate is very volatile, there are many transactions in real society that are difficult to accomplish. I believe that with the development of the community, bitcoin fluctuations will become smaller and smaller.
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?
What do you think about this argument?
Once the cap is more or less reached, volatility will go down. I believe the only reason BTC is so volatile is because the supply currently overgrew the demand. But once no more coins are produced, demand is all that will be left. And just like with a non-renewable resource like gold, the price will go up but hold its stability more or less.
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?
What do you think about this argument?
Yes it could be very difficult to use like our fiat money because of the value of this coin is not stable , and it need to adjust the price of goods to compensate the price cryptocurrency , but in my own openion there is always way if we like the idea and willing to develop the system.
In my own opinion, most of the people today are investing in cryptocurrency because of the volatility of the market that can make you rich immediately depending on the demand but aside from that, fiat will never be replaced by bitcoins due to its volatile price in the market.
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?
What do you think about this argument?
Yes it could be very difficult to use like our fiat money because of the value of this coin is not stable , and it need to adjust the price of goods to compensate the price cryptocurrency , but in my own openion there is always way if we like the idea and willing to develop the system.
If the exchange rate is very volatile, there are many transactions in real society that are difficult to accomplish. I believe that with the development of the community, bitcoin fluctuations will become smaller and smaller.
I totally agree, because under the current conditions of volatility the only practical use that Bitcoin could have would be its use as a means of payment to replace the current inefficient and expensive payment processors.
I am convinced that those who dare to use Bitcoin as money or as a long-term investment, will have to learn to continually deal with this high volatility because its defended decentralization makes bitcoin an easy prey for speculators without the possibility of any regulatory intervention.
I am convinced that those who dare to use Bitcoin as money or as a long-term investment, will have to learn to continually deal with this high volatility because its defended decentralization makes bitcoin an easy prey for speculators without the possibility of any regulatory intervention.
A cryptocurrency is not a money because a money is the fiat that we are using. A crypto is an asset and obviously it is so unstable. Volatility is both directions, it's up and it's down that a person will take that risk making it is a long way from being a currency. Unlike a currency, which is used to assign and exchange value, an asset has its own inherent value based on what people will pay for it.
I think that there will come a time when speculation with bitcoin and other crypto currencies will not occur and the volatility of crypto will be very small, and then crypto will be used as money.
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. What do you think about this argument?
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?
All items that have value can be the money from the recipient who wants to deal with that currency, even for digital currency, though as you said that the currency which has fluctuations is not recommended for payment instrument transactions like FIAT, experts also say that because rapid changes in value will increase the risk on both sides. Fluctuations cannot be separated from cryptocurrency, I think the need for great renewal if want to get accepted as money, which I mean to transact life needs. What do you think about this argument?
I totally agree, because under the current conditions of volatility the only practical use that Bitcoin could have would be its use as a means of payment to replace the current inefficient and expensive payment processors.
I am convinced that those who dare to use Bitcoin as money or as a long-term investment, will have to learn to continually deal with this high volatility because its defended decentralization makes bitcoin an easy prey for speculators without the possibility of any regulatory intervention.
I am convinced that those who dare to use Bitcoin as money or as a long-term investment, will have to learn to continually deal with this high volatility because its defended decentralization makes bitcoin an easy prey for speculators without the possibility of any regulatory intervention.
It's not only about volatility. Scalability is another major factor that prevents cryptos from mass adoption.
Bitcoin can handle only 7-8 transactions per second. Now compare it to 1,600+ tps on VISA (or how many do they have by now).
The more people start using btc as a payment, the slower will be the network and the higher will be the fees.
Bitcoin can handle only 7-8 transactions per second. Now compare it to 1,600+ tps on VISA (or how many do they have by now).
The more people start using btc as a payment, the slower will be the network and the higher will be the fees.
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?
What do you think about this argument?
I think yes it cannot be because whenever that the price will fall down it is hard to buy things that we wanted to buy because if our money is just right for yhe price and then all of a sudden you it falls then you will wait for it to rise again before you can buy the thing you wanted. So it is much better to stay that way because in that case they can live peacefully without people complaining about that happening.
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?
Bitcoin's main goal is to become a world currency, but it has failed the main factor as you mentioned. and another limited amount of only 21,000,000 and that is impossible for the whole world. What do you think about this argument?
The volatility of cryptocurrency is a major concern to every crytpo enthusiasts and we know that it is a major hindrance to mass adoption. However, I think the example use gave is not applicable.
volatility of the cryptocurrency is the reason why we cannot use it as a money for the entire world but i think that government can do something like stacking the price into highest value so we can use it daily but the down side, bitcoins will not be profitable since the price wont go down anymore.
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?
What do you think about this argument?
I thinks that, what Klaus means is a volatile currency cannot be used as a regular one like Fiat. As we know that cryptocurrencies are all volatile, so it only means that we cannot rely on it to become one of the Fiat currencies we used everyday.
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