Topic: A cryptocurrency with volatility can't be used as money - page 27. (Read 34045 times)
All types of currencies experience volatility, even the USD. However, bitcoin's extreme volatility does make it unsuitable as a currency.
cryptocurrency will be more for an asset rather than daily currency but at the same time most of the users want to use cryptocurrency as a currency as well because they cant trust banks in coming future
In my opinion. very vulnerable if cryptocurrency functioned like money. because digital currencies have a fluctuating value. digital currency is better used for long-term investments than to function as money for transactions.
Dude, I’m a little bit confused with this lol. What does he mean that a currency with volatility can’t be used as a currency by any country? Dude WTF! 😏😆 Is there any currency in this world that is not volatile? Every currency in the world are volatile. Take for example dollar to euro can’t maintain the same price forever, they will always fluctuate, either that dollar goes up against euro or it goes down. Such fluctuation is being caused by how much that comes in and out of the country at the moment. I don’t know if this man you mentioned is still a novice or what?
This is correct, every single currency around the world moves in price, it is true that the currencies that the governments are using do not move as much as bitcoin but this cannot be avoided they have complete control of the emission of their currency while this is not true for bitcoin because we do not have direct control about how much bitcoin is created every day and also those currencies have the same problem as dogecoin, dogecoin has not a limit to the amount of coins that are going to be created and the same is true for fiat currencies and that more or less stabilizes the 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?
I think i will agree tp the fact that they cannot be used as a money especially in daily living because their price are not stable which means that the value in this time will be different to the value on the next few minutes and if you have the exact money to buy that thing and the price changes the money will also changes so that will be the problem and we all know that not all the time the price will increase so they really cannot be used as that thing they are just better as an investment.not a currency at all.
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?
Maybe you have a point into this kind of article in newspaper feed that you read,that its impossible to use this as currency because of its volatility problems when its change to fiat,but maybe this kind of problem in cryptocurrency would soon resolved if the government would legalized the bitcoin,and if these legalization will be implemented there are circumstances that's this volatiltily could be controlled.
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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 and as a rational investor you will sell it when Bitcoin price will high rather you buy it.
Volarility has to be controled to take care of inflation, to balance the spending power, etc.
If bitcoin is only stable, maybe that's not enaugh for a currency?
If bitcoin is only stable, maybe that's not enaugh for a currency?
This is very much true. Since, bitcoins is so much volatile, it is not practical for small transactions.
There is volatility even in American dollar but has been used as an international currency throughout the world for decades. What I want to say is that even with volatility in the price, Bitcoin can be used as a currency and why should one care if it is generally accepted for instant transaction. Tesla is very optimistic about the future of Bitcoin and looks forward to accept the technology for payments.
You can find many minds of specialist. France is doing an analyse about crypto and ask very interesting people :
http://www2.assemblee-nationale.fr/15/commissions-permanentes/commission-des-finances/missions-d-information/monnaies-virtuelles/(block)/48243
But that's in french.
What is interesting is that you have people who talk positively about crypto and some others negatively.
http://www2.assemblee-nationale.fr/15/commissions-permanentes/commission-des-finances/missions-d-information/monnaies-virtuelles/(block)/48243
But that's in french.
What is interesting is that you have people who talk positively about crypto and some others negatively.
Dude, I’m a little bit confused with this lol. What does he mean that a currency with volatility can’t be used as a currency by any country? Dude WTF! 😏😆 Is there any currency in this world that is not volatile? Every currency in the world are volatile. Take for example dollar to euro can’t maintain the same price forever, they will always fluctuate, either that dollar goes up against euro or it goes down. Such fluctuation is being caused by how much that comes in and out of the country at the moment. I don’t know if this man you mentioned is still a novice or what?
Mmh he's a famous economist and worked at the head of the UBS swiss bank (one of the biggest in the world).
So maybe it's better to analyse what he says before laughing at him... Dude
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?
It simply doesn't work. We've been using fiat currency for decades now, and it has consistently lost its value over time. Yet everyone is still able to conduct business with fiat, even though we know that the value of fiat is going to go down in the long run.
Bitcoin is actually better than that, although its short term fluctuations may be big right now, in the long run, it should hold its value unlike fiat because of its limited supply. And the volatility definitely does not mean that nobody can use it as money.
The only reason why BTC is so volatile right now is the lack of adopters and merchants actually accepting BTC. In the future, this will change for sure.
if you buy a shirt for primary cost and then when it goes down then you have to sell it in low cost, in loss. How can it be reliable then.
I always thought that the only bad thing of crypto was the huge volatility, i would love to have my money backed on crypto, but i am afraid of buying one bitcoin at $10000 and then having it worth less than $4000 at the next day.
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In theory it appears like you lose value but in actuality you gain value. Say you purchase a flat for 1 BTC @ 300k. Now say 1 BTC is worth 200k a little while later. Your house value is not dependent in the BTC but rather what the free market says in the real estate market. Lets say your house didn't lose that much value in one year and was worth 280k now. In this example scenario you would have gained 80k equity despite the fact that it looks like you are losing 100k equity.
Infact volatility issue is so much climbing the headlines now a days that it has become a global issue now a days
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.
This is very much true. Since, bitcoins is so much volatile, it is not practical for small transactions.
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 about japan?they are using bitcoin as currency so how is that?What do you think about this argument?
They are very affected on everything while the truth is this has nothing to do with them,what i wanna say is lets face our own problem and lets not get involved in this wasnt for us
For me the price will be more stable in the future so that will make them more able to adapt to this movement. I do not think that's true because the money we use now has the same thoughts as the ups and downs
Right bitcoin is not the only volatile currency but the real money also make price high and down, noting has a stable price, as crypto currency is an innovative currency but even then it has more value than the fiat and people are crazy for using bitcoin as currency to buy goods and enjoy shopping, bitcoin attracts people to use it and which is being a reason for less value of bitcoin in market now a day, according to me bitcoin is best source of payment for good more better than fiat and paper money. Jump to: