I don't think crypto-currencies can be used as money now, because businesses will lose money rather than profit as their value decreases.
Even a stronger bitcoin can be considered a legal tender, as more and more people see the BTC as a better store of value.
Topic: A cryptocurrency with volatility can't be used as money - page 25. (Read 34026 times)
I think that a crypto currency with great volatility can be used as money only if it will walk in the country along with other kinds of national conventional money. Then the high volatility of the crypto currency will not interfere with the others. If the situation requires a stable relationship, go to the national currency, in other cases, you can use the crypto currency. In the future, we ourselves will be able to determine where and in what situations it is possible to use which currency. It is necessary to use the advantages of all currencies, since the volatility of the crypto currency in some situations is harmful, while in others it is of benefit.
So time will come that you need that money but it falls so you need to add much money, are you getting my point. There will be chaos every where, volatility in Bitcoin does not yet have a generally accepted index that is why it is seen as an asset.
I am not disagreeing with you or anyone who holds this point of view but my question is, does anyone want to see bitcoin becoming stable or is it even the right time for BTC to stick on a specific price? Why are people embracing bitcoin and why everyone wants to become one of the bitcoiner? The reason is its volatile nature which makes big profits possible without taking much time. 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?
A volatile electronic currency that can not be used as money can only be said to be the digital money that we are participating in if we accept them. This also means that we are going to change their course of action. invest What do you think about this argument?
It is true. A volatile currency can't be used to exchange goods and services in a wide scale because no one will actually adopt a volative currency. But then again crypto currencies are young, very young. We still have time to mske the currency stronger and stabler by holding our coins and buying more. Let's not get hooked up with panic selling our coins when we see a drop.
Yes, if a currency that fluctuates frequently can not be applied to the payment of goods and services in our daily lives. So if the BTC becomes the common currency of the world economy, let's stabilize their prices, maybe in the next few years the BTC will be accepted as fiat money.
Yes I agree, With mass adoption and new stablecoin like DAI, it will become less volatile. Also, developments such as ETF and more exchanges around the world will make BTC less stable. Also, I think the whole whiny, too dependent on BTC, its dominance needs to drop like 20%
We can use fiat everywhere and every time but we can not use bitcoin everywhere like fiat especially in areas without internet access, it's hard to use bitcoin for everyday life because using bitcoin is not as easy as using fiat
It is just the way of thinking and planning the things. 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. 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 this is a correct assessment of the current situation. Bitcoin is too volatile, so if you use it as an official currency, maybe everything will be affected by its volatility. The value of Bitcoin isn't fixed, and if you accept it as a payment, merchants will lose money at any time. What do you think about this argument?
That is true a cryptocurrency with volatility can not be used as money because it has no standard of fixed value so business can not circulate with exchange to currency that is variable in price value, so it it is hard to be 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?
What do you think about this argument?
Of course we can't use any currency that is so volatile since people will not be happy if they have the amount of they want and suddenly it drops lower.
fluctuations, but buyers as bitcoin holder of course the price changes that go up and down very quickly, may be detrimental to you as a buyer
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. An example of this is the use of crypto currency in Japan, where in parallel with the national money, it gives profit to the economy of this state.
It is true, I myself won't ever bother to use bitcoin to pay my bills as of the moment since the price is too low, but if the price would be high I will do it. And that is another reason why Bitcoin will never be used as a money since it is just treated as an asset. Bitcoin became a popular crypto currency because of its volatility, that volatility made a lot of investors invest on Bitcoin since they knew that the price will still go up and it did. Yes, fiat's price are changing but not as volatile as Bitcoin since if fiat moves quickly as Bitcoin's price, that certain country will probably have a problem the reason Bitcoin will never be used as a currency or a real money.
All cryptocurrencies are volatile in price, and they all can’t be used as a currency in any country cause they don’t have the qualities of a conventional currency. Take a look at conventional currencies, there isn’t much volatility when it is compared to another currency of its type, for example – Dollar to Euro.
Conventional currencies are physical money and can either be as a coin or paper, they can also be used electronically or online for an easy transaction from your bank account to another bank with the help of internet and banks mobile app. They have lots of features that makes them much more better than making use of cryptocurrencies and they always taking the lead.
Conventional currencies are physical money and can either be as a coin or paper, they can also be used electronically or online for an easy transaction from your bank account to another bank with the help of internet and banks mobile app. They have lots of features that makes them much more better than making use of cryptocurrencies and they always taking the lead.
We can use fiat everywhere and every time but we can not use bitcoin everywhere like fiat especially in areas without internet access, it's hard to use bitcoin for everyday life because using bitcoin is not as easy as using fiat
Indeed we can use fiat anytime and everywhere but with bitcoin it cannot be easily used. The higher the volatility it can't be easy to use as to pay bills or purchase goods in actual. I disagree because we are already using cryptos to buy goods and pay the services. It's already been proven and now it keeps becoming more useful in terms of its function and development. So, I believed that cryptos will be more useful in the coming more years.
People will just have to adapt that is all, if people around the world can use currencies that lose value very rapidly when they are in the middle of an economic crisis then they can use a currency that can go up or that it can go down, I will admit that it will be way easier if the price was stable but when not even 1% of the human population have adopted bitcoin we cannot really ask for bitcoin to be stable when there is so much potential to go up in value when those people realize that bitcoin is their best option to store the value that they have accumulated over the years. 
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?
what? once you bought something using bitcoin will not decrease its value in the future, its value will not be based on the current price of bitcoin anymore not unless you are selling your flat and accept bitcoin as payment. and why would you sell it when the price of bitcoin is low? no one is stupid enough to do that. once an item is bought in bitcoin, the value will remains the same until you appraised it in bitcoin. if doing so, you are not a wise trader.
if we are talking about the item's value in bitcoin, if we are comparing the value when you bought it and the value if you are to sell it. of course the value differs, depends on the current market value, the op's argument is "if you buy a flat with bitcoin and few years later the bitcoin value decrease... Your flat lose his value as well. " if and only you are to sell it in bitcoin's price at the wrong time. his example is buying a flat, on how much you bought it, it will remain as is, now the value differs on the timing of when you are to sell it, again in bitcoin's price.
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?
Of course we can't use any currency that is so volatile since people will not be happy if they have the amount of they want and suddenly it drops lower.
We can use fiat everywhere and every time but we can not use bitcoin everywhere like fiat especially in areas without internet access, it's hard to use bitcoin for everyday life because using bitcoin is not as easy as using fiat
Infact volatility issue is so much climbing the headlines now a days that it has become a global issue now a days
Crypto is the currency and it cannot be called money as it is really volatile. However, the cryptocurrency has got some characteristic of the money - you can buy some stuff and services for it.
it would be hard because it is very volatile. price change anytime and it may change in seconds. crypto today are good for asset and fiat is still ideal for currency. well cyrpto and fiat are a good combination.
It is true. A volatile currency can't be used to exchange goods and services in a wide scale because no one will actually adopt a volative currency. But then again crypto currencies are young, very young. We still have time to mske the currency stronger and stabler by holding our coins and buying more. Let's not get hooked up with panic selling our coins when we see a drop.
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