Topic: bitcoin cannot replace currency in the world because price is not stable (Read 13345 times)
April 17, 2018, 01:24:08 AM
Bitcoin cannot replace currencyin the world not just because of price fluctuations. The different currency that we have right now is powerful; it cannot be replaced in just a blast; Bitcoin can be a currency but it cannot replace the currency in the world.
April 17, 2018, 01:23:55 AM
I disagree. The price of bitcoin would be much more stable if it were adopted as a world reserve currency, held by central banks. The reason why bitcoin has been so volatile is because of growing pains as a relatively new technology.
April 17, 2018, 01:22:21 AM
No currencies have a stable price and so is bitcoin. Anything that responds adequately to the forces of demand and supply can never have a stable price. You seem to be talking only about the fall in price. What of when the price of Bitcoin was enormously high? Don't forget that the currencies of some countries have almost no value.
bitcoin can well be just for investment and fiat money for typical day to day transactions. I would rather not use bitcoin to buy stuff online if I have some fiat money to use because the value of bitcoin is promising - I would just keep and hold of it along with investment here and there using my bitcoin.
April 17, 2018, 01:01:48 AM
Personally, I think Bitcoin can replace cash, used to buy goods, exchange. For this to happen I think people need to develop more applications that meet the needs of people. If the bitcoin price is stable, we can use them as a deposit in the bank. Buy bitcoin merchandise through bitcoin card issuance.
April 17, 2018, 01:00:05 AM
Bitcoin can not replace the currency because bitcoin is virtual money. We can say bitcoin couldn't change but may consider as global currency for investment. But if Bitcoin is legalized all over the world, it can easily replace all currency in every country.
That is one of the factors affecting why bitcoin cannot be a world currency because there are certain countries that are banning bitcoin for their own reason maybe those country doesn't fully understand what bitcoin is capable of, it has a lot of advantages and having it legalized will benefit a lot of that country's citizens. It may be unstable but as we all know bitcoin is still evolving which means there is still a lot to improve on its current technology, maybe it won't happen by now but may be in the future it would be possible to have a cryptocurrency as a world currency. April 17, 2018, 12:32:14 AM
Bitcoin is certainly not a globally accepted currency and it's not currency at all it's just used as store of value. For bitcoin to replace fiat and become globally accepted currency it would require some drastic changes to be made in bitcoin. If there's something which cost you $1 in fiat currency the same thing would cost you more than $1 because you have to add network fee to $1 so obviously you will choose to pay with dollar instead of bitcoin so it's not just instability in the prices of bitcoin which stops it from becoming a worldwide currency but the other factors like transaction fee etc also is a hurdle in bitcoins becoming worldwide currency 
April 17, 2018, 12:03:34 AM
Bitcoin cannot become a global currency because each country has its own currency. But the price of Bitcoin is currently unstable, but I think this is only a phase and the future of Bitcoin will be very good.
Bitcoin will go through process to become the first official digital currency in the world. It may be possible on the following years or decades but now is not. Bitcoin value is unstable and changing every hour, or every day so if bitcoin would become our currency today, our money’s value is unpredictable and always changing due to the fluctuations. April 16, 2018, 11:57:35 PM
Bitcoin cannot become a global currency because each country has its own currency. But the price of Bitcoin is currently unstable, but I think this is only a phase and the future of Bitcoin will be very good.
April 16, 2018, 11:46:56 PM
Bitcoin can not replace the currency because bitcoin is virtual money. We can say bitcoin couldn't change but may consider as global currency for investment. But if Bitcoin is legalized all over the world, it can easily replace all currency in every country.
April 16, 2018, 11:42:44 PM
Yes, I really agree with you. Indeed from the beginning the main function of bitcoin is just as a commodity (like gold) and digital assets. There are special terms and conditions for making something into a currency, one of the conditions is a stable value.
April 16, 2018, 04:54:26 PM
Unfortunately its an absolutely yes, bitcoin can't replace currency in the due to its pricing is not stable. Unlike native currency it was use every nation and it was accepted nationwide even in ordinary expenses that leads to its stability.
Possibality is always there, but i think that it will take a lot of time, becasue we will contineu using fiat currrency for a long time, in fact still a lot of people are there who are uneducated and who do not know about computer and internet, and specially in backward countries where the rate of education is very low, but still i think that in moder time it will at least decrease the use of fiat currenty in moder cities where the use of bitcoin is much more. April 16, 2018, 03:15:56 PM
Unfortunately its an absolutely yes, bitcoin can't replace currency in the due to its pricing is not stable. Unlike native currency it was use every nation and it was accepted nationwide even in ordinary expenses that leads to its stability.
April 16, 2018, 03:12:40 PM
The instability of the price of this currency is primarily caused by its relative novelty and market rejection. The involvement of the population is extremely small in the industry.
April 16, 2018, 03:04:38 PM
bitcoin cannot replace currency in the world because price is not stable.
currency should be more stable.
you may reply me. currency is not stable also but you should think
USD currency price is up and down 1-2% in 1 month.
bitcoin price is up and down 20% in 1 month.
what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?
bitcoin can become stock but cannot become currency
currency should be more stable.
you may reply me. currency is not stable also but you should think
USD currency price is up and down 1-2% in 1 month.
bitcoin price is up and down 20% in 1 month.
what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?
bitcoin can become stock but cannot become currency
this is only the case because the world still thinks in US dollar, you have to think beyond the US dollar, how will the world evaluate assets then? it will be called the "coins of style"
April 16, 2018, 03:02:45 PM
Bitcoin is not the actual currencies, but in the future all the actual currencies will disappear because of the industrial revolution of the Cryptocurrency market. I think if that happens surely the Cryptocurrency market will also transform into real market, but will be more profitable.
We don't know what will really happen in the future. If that happens that crypto will take over fiat, I think there is a bit of hiccup in the first few periods of implementation as there will be a number of scammers out there who do all things to scam the hell out of you and older generations won't want to use it.
April 11, 2018, 07:19:14 PM
Actually to make it specific, bitcoin can't replaced by cash but to convert it to fiat. Replace is different to convert. As time passes by many establishment accept bitcoin as their mode of payments, well for only those country legalized bitcoin of course. Bitcoin is really demand and popular here in social media that makes everyone amazed on its value and many are getting involved to benefit on it's capability for each and everyone of us here in crypto currency community.
March 17, 2018, 01:28:50 PM
bitcoin cannot replace currency in the world because price is not stable.
currency should be more stable.
you may reply me. currency is not stable also but you should think
USD currency price is up and down 1-2% in 1 month.
bitcoin price is up and down 20% in 1 month.
what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?
bitcoin can become stock but cannot become currency
I agree with your opinion that Bitcoin can't replace currency, the price Bitcoin unstable every second so it's very difficult for people to make a transaction with the same amount.currency should be more stable.
you may reply me. currency is not stable also but you should think
USD currency price is up and down 1-2% in 1 month.
bitcoin price is up and down 20% in 1 month.
what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?
bitcoin can become stock but cannot become currency
March 17, 2018, 12:21:21 PM
Bitcoin can not replace the world currency not because of its unstable value but because some governments do not think bitcoin is legal. It will take a long time for it to be legal in the world
March 17, 2018, 12:08:29 PM
Bitcoin can't replace fiat currencies because of protection from government not because of price. Fiat also is not stable but still national currency 
March 17, 2018, 11:30:35 AM
bitcoin cannot replace currency in the world because price is not stable.
currency should be more stable.
you may reply me. currency is not stable also but you should think
USD currency price is up and down 1-2% in 1 month.
bitcoin price is up and down 20% in 1 month.
what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?
bitcoin can become stock but cannot become currency
I don't think that's the main reason. Bitcoin is now developing, and its price is going to go up so its price is not stable. When the price of bitcoin reaches a certain height, its price will become stable. I think it's the trading speed that limits bitcoin to daily currency. currency should be more stable.
you may reply me. currency is not stable also but you should think
USD currency price is up and down 1-2% in 1 month.
bitcoin price is up and down 20% in 1 month.
what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?
bitcoin can become stock but cannot become currency
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