A cryptocurrency with volatility can't be used as money - page 13.

Vsamuel

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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?

I think all currencies are highly susceptible to market price volatility. For example US dollars sometimes appears to appreciate or depreciate against other global currencies in the market. That does not make it impossible to trade with. Moreso, it does not imply that my shoe that i bought at 25$ equivalent to 112.5 cedis, when a dollar was 4.5 cedis, will lose it value when the dollar depreciates to 3.9 cedis. Reasons are that my shoe will maintain it fix asset value no matter what happens to the dollar against global currency

Rj Manik

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the particular volatility with the industry can have an effect on cryptocurrency plus it may well be the explanation of bitcoins never to provide being a fiat for each and every region nevertheless the edge will be in which, the particular volatility can can be utilized so that you can make a lot more income.

Deubila

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Quote from: deejayce48 on August 06, 2018, 04:45:59 AM

I am thinking about this also. How will Bitcoin be of use when its price is too volatile. But I realized that when Bitcoin becomes our currency, I think its price will stable since there is no buying and selling of Bitcoin. The only thing that affects price is when someone buys or sells Bitcoin.

Increasing or decreasing bitcoin is due to the market pouring in or selling out. New to create certain ups and downs, and that is the key factor of the market. To make a profit on your investment, you should have a clear plan to win.

valentine401

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Quote from: icoprofits on July 31, 2018, 09:17:11 AM

cryptocurrency with volatility can be used as an asset rather than money but still, most of the merchants are using it as money and payment processor which is a good move for cryptocurrency industry

The volatility is necessary in order for people to earn profit from trading and that is the reason why most of the investors are getting rich by just focusing on the market by trading daily.

cryptokia

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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?

Actually it seems logic, the things that you're saying here, but we can also develop and invent some other ways to avoid that volatility of cryptocurrencies and still use it as a regular payment method.

coinfinger

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Quote from: deejayce48 on August 06, 2018, 04:45:59 AM

I am thinking about this also. How will Bitcoin be of use when its price is too volatile. But I realized that when Bitcoin becomes our currency, I think its price will stable since there is no buying and selling of Bitcoin. The only thing that affects price is when someone buys or sells Bitcoin.

Some of you makes funny comment sometimes. Bro who told you that Bitcoin was going to be your currency? And by the way, you better know that Bitcoin is not going to stop being volatile, it’s a cryptocurrency, so what were you expecting before? It will continue to be volatile even when all are mined up. Bitcoin is not going to be any currency, it’s for making payments and can also be an investment, if you can’t accept that, then I have nothing else to say.

voztata

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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?

There is no cryptocurrency without volatility, all of them are volatile and that includes Bitcoin, EthereumMonero, Zcash or is it Mcash, Ripple (XRP), Bitcoin Cash, Litecoin and every other coin/altcoins in the market. I even think that altcoins are worst than Bitcoin, cause people tend to abandon them and go into Bitcoin at a certain time, especially when there is a rush and after everything seems to have settled, they go back to investing in them again.

deejayce48

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A sports token that knows your favorite team

I am thinking about this also. How will Bitcoin be of use when its price is too volatile. But I realized that when Bitcoin becomes our currency, I think its price will stable since there is no buying and selling of Bitcoin. The only thing that affects price is when someone buys or sells Bitcoin.

nightways

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Quote from: Bitlife81 on August 04, 2018, 10:14:53 AM

Real state,Gold and other assets price also fluctuate,If you buy a flate and you using it at least 2 year you already recover your money and till now it is seemed Bitcoin price increased.

The only problem which almost all of the crypto currencies have to face when it comes to that of using as regular currencies is the fact that the government is not willing to legalize these currencies and that because of which, there are not so many places which are offering this facility of being used as mode of payment. Things can be better in the future and that we can rely on these crypto currencies too.

Bitlife81

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Real state,Gold and other assets price also fluctuate,If you buy a flate and you using it at least 2 year you already recover your money and till now it is seemed Bitcoin price increased.

checkmatesir

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$CYBERCASH METAVERSE

Quote from: JohnWick_Bitcoin on July 14, 2018, 02:27:05 PM

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?

Yes it cant be really used as a currency because of its volatilite price and the volatility is also the reason why cryptocurrency is very profitable today, there is so many use for crypto and not just a currency.

Yeah it is right that most people do not use their cryptocurrency because of the volatility. They do not understand the actual price because the change in the price every day, and I think this situation will continue till the whole world start using crypto as their regular currency and there is no exchange rate for any crypto, then everyone will use it whiteout any hesitation.

siracunas

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Quote from: gabmen on May 09, 2018, 08:19:50 AM

Of course it can't. Though for person to person transactions and exchange, it's applicable. Both parties should be aware of dealing with a volatile value exchange and if both are i agreement then it shouldn't be a problem.

I concur that a cash with high instability can`t be utilized as cash. Be that as it may, on account of the digital currency, which has numerous different points of interest, and which individuals need to use as cash, this issue can be tackled. One conceivable answer for the issue of unpredictability is to attach the digital currency to gold at a settled rate. This will require the accord of the crypto network and the support who is prepared to make the physical gold market at a concurred cost in the crypto. This sort of crypto, sponsored by gold, may even turn into a worldwide hold cash, particularly on the off chance that it was bolstered by the nations who are searching for courses out of the flow dominion arrangement of the USA dollar.

icoprofits

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cryptocurrency with volatility can be used as an asset rather than money but still, most of the merchants are using it as money and payment processor which is a good move for cryptocurrency industry

ValerieBTC

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Quote from: Cotton Candy on July 15, 2018, 08:11:16 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?

Digital currency is a type of cash since ewe utilize it as installments on the web however in the event that we contrast it and fiat it is far various. Bitcoin and other cryptographic money was made and composed as unstable which is whenever it will vacillate not at all like the fiat cash that has a steady esteem whether the cost of stock reduction the estimation of fiat money won't change.

Besides that, we would have a volatile national currency if the exchange rate was not controlled by the government. It is just because Bitcoin is decentralized and this lack of controlling authority is the reason Bitcoin is so volatile. But this is good in our interest for we do not have external interventions except some factors that can affect the price. The market has inbuilt ability to approach the equilibrium position in the end.

mdw1962

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Yes I think so, it's difficult to used bitcoin for daily life because to use bitcoin is not as easy as to use fiat. We can use fiat everywhere and everytime but we can't use bitcoin everywhere like fiat especially in the regional without internet access because in my country there are still many areas that can not access the internet

furry04

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Well indeed it is the right thing to say, if a price of a currency is 1000 today and it become 5% less tomorrow such as btc` price than no one would be comfortable and business would be like gambling with so much dependence on btc.

localcrypto

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cryptocurrencies are more or less as an asset we can consider for long term rare commodity we cant consider as money with price volality but it is merchant deciosion to take that step

mak2017

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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?

Most likely Klaus is right, due to high volatility we can't use crypto as money.
But there are a good number of projects, including institutional investors, who are working on their stable token or even government controlled coin.
These types of assets could really bring more people into the market and boost it as well.
Don't be that much worried about bitcoin and it's value, for the last 9 years, bitcoin has brought a huge profit to people who believed in it from the start, and still bitcoin remains undervalued crypto today, so surely there will be new heights.

amber deposit

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Cryptocurrency lacks intrinsic value that is capable of generating revenue such as ordinary products or services. Moreover, since cryptocurrency is a relatively new asset, investors face the challenge of evaluating its value through traditional assessment models.

Ochusol

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This is quite correct. It is because of this high volatility of Bitcoin and other cryptocurrencies that made a lot of people very skeptical about using it as money.

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