Topic: A cryptocurrency with volatility can't be used as money - page 30. (Read 34045 times)
yes ofcourse no doubt in the statement. Atleast I don't think there are any.
The extreme volatility of bitcoin though very understandable is a major stumbling block to mainstream adoption, though we understand that these price volatility activities are not completely immune to manipulations, we probably would not see mass adoption as we envisage until this settles somehow.
I am sure there's something missing in the line here both digital and physical are different in any aspect, so they can't just say so that they can't use bitcoin because it has a volatility. So, therefore any other currency that has a volatility can't be used either. Every money in our country is being counted so it is being traded via local and international countries therefore it has a volatility. I don't what's the missing part but i'm sure there is a continuation to his statements.
At first, everyone thought that bitcoin could be used as a transfer tool. But it was not possible to use it as a transshipment tool as bitcoin I had voiced at that time was so volatile. Crypto can now only be used as an investment tool. I do not think it will be possible. It will definitely lead to damage on both sides already use as a tool. It would be foolish to see it now. The only thing to do is to invest and use the winners as a transfer tool:)
You can use volatile cryptocurrency to buy or sell.
Though in the sellers' part, you do need to consider the effort afar from selling the product but as well as to manage your earnings effetively and not to mention that you have to constantly change out prices according to the value of cryptocurrency. I do not think that there will be a loss on the sellers' part if only he has an adequate amount of knowledge. Cryptocurrencies are the future so why not.
Though in the sellers' part, you do need to consider the effort afar from selling the product but as well as to manage your earnings effetively and not to mention that you have to constantly change out prices according to the value of cryptocurrency. I do not think that there will be a loss on the sellers' part if only he has an adequate amount of knowledge. Cryptocurrencies are the future so why not.
I dont think btcs can fulfill the double demand. One side is asking it to be used as currency and other as stock. How can it be stable then?
Let's ignore the real estate value of your apartment and assume it has a fixed price; it means that you bought it for $10,000:
In 2013 considering that the value of the Bitcoin $ 100: you need 100BTC to buy an apartment.
In 2017 assuming that the value of the Bitcoin $ 1000: you need 10BTC to buy an apartment.
Today, assuming that the value of the Bitcoin $ 10,000: you need 1BTC to buy an apartment/flat.
I agree with you that the price of the Bitcoin is variable, but it tends to go bullish that means its value increases over the days than paper money.
Yes, I strongly agree to this opinion. Price of an apartment will fluctuate based supply and demand; simply say as market price. Apartment is a physical asset that has a market value or price in the market and that is reasonable or acceptable. A crypto currency also has a market value or price that fluctuates anytime in the market with no physical asset behind it. This condition is really the same as fiat money today used but its value is more stable. When cryptocurrency has been accepted formally and globally, its price will be more stable and can be used as currency like fiat money. Economic transaction can be done based on exchange rate accepted by parties involved in it. In 2013 considering that the value of the Bitcoin $ 100: you need 100BTC to buy an apartment.
In 2017 assuming that the value of the Bitcoin $ 1000: you need 10BTC to buy an apartment.
Today, assuming that the value of the Bitcoin $ 10,000: you need 1BTC to buy an apartment/flat.
I agree with you that the price of the Bitcoin is variable, but it tends to go bullish that means its value increases over the days than paper 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?
yes it is true, A crypto currency with volatility cant be used as money. Maybe If the crypto is more stable, They can be used as money.
I disagree with such point of view...It's not a problem at all to adjust everything in real 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?
What do you think about this argument?
Since bitcoin doesn't stable therefore the price varies. With this situation I think if we accept bitcoin as our means of payment then we should also accept that the value of something we bought through bitcoin should not be stable like bitcoin. But for me its not about the value of bitcoin but it's the value of something you bought is the most important so that even though bitcoin go up or down still the value of that thing is stable.
You are somehow trying to bring out issue to ponder here on the volatility of Bitcoin. But thinking about it critically, you should be able to understand that the price of Bitcoin at which an estate is bought does not really affect the physical value of that estate at a later date.
Can the less volatility in Ripple be a major reason why banks are adopting it against choosing the bitcoin or even litecoin?
It has nothing to do with Ripple being less volatile than other crypto currencies, because it simply isn't less volatile. Ripple is a centralized crypto currency that technically allows transactions to be reversed.All aspects of Ripple make it an interesting option for banks and certain financial services, but it has no real use and utility with how governments will tie their own fiat currencies to a token running on their blockchain.
Ripple is nothing more than a get rich scheme with the insane premine that's being kept hidden from the public, but it doesn't really work in their favor. It's one of coins heavily being frowned upon by the crypto industry.
Thinking about this, there's some cryptocurrency that is pegged to fiat or even precious minerals, pretty sure that this kind of cryptocurrency have significantly less volatility or almost zero since it will always follow the value of that local currency being pegged, we can use that if that's the case.
All aspects of Ripple make it an interesting option for banks and certain financial services, but it has no real use and utility with how governments will tie their own fiat currencies to a token running on their blockchain.
Ripple is nothing more than a get rich scheme with the insane premine that's being kept hidden from the public, but it doesn't really work in their favor. It's one of coins heavily being frowned upon by the crypto industry.
Agree with this, anyone who says ripple is less volatile or at least saying that it's a good cryptocurrency is getting blinded by the fact that it's pure stupid coin, it's not decentralised and stupidly can be reversed, what the point of using ripple when there's PayPal and other similar but with less volatility and more simplicity.
Can the less volatility in Ripple be a major reason why banks are adopting it against choosing the bitcoin or even litecoin?
It has nothing to do with Ripple being less volatile than other crypto currencies, because it simply isn't less volatile. Ripple is a centralized crypto currency that technically allows transactions to be reversed.All aspects of Ripple make it an interesting option for banks and certain financial services, but it has no real use and utility with how governments will tie their own fiat currencies to a token running on their blockchain.
Ripple is nothing more than a get rich scheme with the insane premine that's being kept hidden from the public, but it doesn't really work in their favor. It's one of coins heavily being frowned upon by the crypto industry.
Can the less volatility in Ripple be a major reason why banks are adopting it against choosing the bitcoin or even litecoin?
It has nothing to do with Ripple being less volatile than other crypto currencies, because it simply isn't less volatile. Ripple is a centralized crypto currency that technically allows transactions to be reversed.All aspects of Ripple make it an interesting option for banks and certain financial services, but it has no real use and utility with how governments will tie their own fiat currencies to a token running on their blockchain.
Ripple is nothing more than a get rich scheme with the insane premine that's being kept hidden from the public, but it doesn't really work in their favor. It's one of coins heavily being frowned upon by the crypto industry.
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?
This seems to me the battle of volatile cryptocurrency and the stable assets like fiat money and real estate. For me the new trend of profitable cureency is cryptocurrency and yes it is obviously not that good as a currency due to it's volatility however it is still a profitable currency for cryptocurrency traders and not intended for buying and selling of goods. 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?
Can the less volatility in Ripple be a major reason why banks are adopting it against choosing the bitcoin or even litecoin?What do you think about this argument?
'Your flat lose his value as well.', This is not true.. We know that real estate do not depreciate. Rather price go up. Whether bought with bitcoin or not does not matter.
It can be and it is using by people right now there are so many people out there that using bitcoin and other cryptocurrencies and they know the volatility of it that's why they are using it as money because they can hoard it and can be sell in the highest price in the future.
That's something thats stopping each and every country in this world accept Crypto and of course because of volatility will be so hard for everyone to do transactions And day today things . It will be so hard to reevaluate goods after the value change one would need a software that would change the value of goods the instant the value changes online also the value will vary from place to place and it will be so hard to make it work beyond the borders.
It will be like the moment you paid 1 BTC for something and right after that payment the value of that thing became 0.5 BTC what will you do then ?
Fight to give them back ?
It won't ever work this way.
It will be like the moment you paid 1 BTC for something and right after that payment the value of that thing became 0.5 BTC what will you do then ?
Fight to give them back ?
It won't ever work this way.
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 is true, A crypto currency with volatility cant be used as money. Maybe If the crypto is more stable, They can be used as money.
Its probably right crypto currency is very volatile when it comes to its price so its hard to the market or to the economy to adopt it as mode of payment. Every minute the price or value of bitcoin is changing and the market cannot change the price of every goods instantly so thats why crypto currency is not usable as payment to change fiat money that we used.
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