This is what happens in cryptoworld
https://www.youtube.com/watch?v=NBdhAywbgrI Help me here guys, I am so pesimistic about crypto currencies. As much as I would want ot believe crypto will succeed, everyday i think more that it never be adopted. Volatility is a killer, my friends just laugh about it... How can the volatility be stopped? Can masternodes stop it? Orcouple of whales are needed to prevent wild fluctuation of the price?
Why do you see volatility as a problem ?
A problem for what ? Your friends ?
For a start Bitcoin is not "volatile". It cannot "disappear" or be "at risk" as debt based currencies can. What you're referring to is it's trading value against the dollar. That is not a problem in the long term and it's only a problem in the short term if you're day trading and take losses.
As far as it's "suitability as a currency" is concerned, the volatility in a particular market (BTC / USD) is only a problem if you're paying in one currency (BTC) and pricing in another, (USD). If you price and pay in the same currency then the impact of the BTC / USD market volatility vanishes.
You just haven't thought any of this through enough. I have some sympathy for your "laughing" friends because for someone not 'hooked into' the crypto world you would see things through the eyes of the US Dollar. That's like me putting a pair of green spectacles on and complaining about the colour of my eggs in the morning.
I don't really care if the USD dollar market goes to $99, $50, $500 or where it goes right now because the valuation is mainly speculative therefore the price doesn't tell you anything about the state of the industry.
Look at this piece of news...
https://www.cryptocoinsnews.com/bitcoin-exchange-coinbase-just-passed-2-million-users/Do you really think it looks like this industry is "dying" ?
Have a read of this comment column remark which addresses some of your concerns:
glad to have you here!
