Topic: bitcoin cannot replace currency in the world because price is not stable - page 11. (Read 13345 times)
November 20, 2017, 11:10:31 AM
That is exactly why it can replace currencies.
November 20, 2017, 11:09:39 AM
Bitcoin was designed by Satoshi to be a global currency and an online payment system.
So far it has been mainly an asset and a speculation tool since volatility has been huge. But volatility is so high because not so many people use Bitcoin, because Bitcoin is still in its infancy. As soon as more and more people will start using Bitcoin, price will become more stable.
I agree with you though. Volatility is a big problem to let merchants accept Bitcoin in their stores. Other problems include long confirmation time and high fees for buyers.
So far it has been mainly an asset and a speculation tool since volatility has been huge. But volatility is so high because not so many people use Bitcoin, because Bitcoin is still in its infancy. As soon as more and more people will start using Bitcoin, price will become more stable.
I agree with you though. Volatility is a big problem to let merchants accept Bitcoin in their stores. Other problems include long confirmation time and high fees for buyers.
November 20, 2017, 11:09:19 AM
Probably one of the most reasons why bitcoin cannot replace currency in the world it's because we have central banks that have the support and being regulated by the government which is monitoring and regulating the banks all over the world in which the banks is the center is the currency of the world. Regardless bitcoin is still very as compared to the other veterans in the currency world out there. It has much to explore, much to developed and learned. And it shows a potential to be a great currency in this world not to replace but to be included.
November 20, 2017, 11:05:33 AM
Yeah! It’s clear. In the world Bitcoin can not replace the currency. Because it’s a only based on internet currency. It’s not looks like a another currency like dollars. And it’s price not stable. To earn and sell Bitcoin need a internet connection.
That is true it can never replace our currency who issued by our government because our currency is one of the identity of a nation. But bitcoin can be a alternate payment for paying online. And also because of its volatile in price it cannot be replace in currency.fiat will have its place and will continue to be used as is. While bitcoin is really a good alternative with fiat - but what I am really seeing and observing is that people who got a hold of bitcoin preferred to just invest and hold their coins than using it like an ordinary fiat money for their daily regular expenses.
November 19, 2017, 01:03:47 PM
I see a lot of it saying that bitcoin can never replace a currency because it is virtual. That said, do not forget that 90% of our monetary system (EUR, USD...) is virtual and only 10% physically exists in the form of coins and banknotes... That is not a valid argument...
November 19, 2017, 12:59:57 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
What youre saying is a fact, but its still a but too early to say what bitcoin can and cannot do. Once in they said that bitcoin would die in year 2015, but look at its price now, its even bigger than any currency in cryptoworld or in the physical world. So saying something like bitcoin isn't gonna be a or cant do, is just to early.
November 18, 2017, 04:26:44 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
It it obvious the price is not yet stable there is so much money entering in bitcoin that the price is constantly changing but if a significant amount of the world economy beings to run on bitcoin then we will have a price that is going to move a lot less. 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
November 15, 2017, 09:44:54 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
What youre saying is a fact, but its still a but too early to say what bitcoin can and cannot do. Once in they said that bitcoin would die in year 2015, but look at its price now, its even bigger than any currency in cryptoworld or in the physical world. So saying something like bitcoin isn't gonna be a or cant do, is just to early.
November 15, 2017, 09:37:30 PM
A few humble thoughts...
First, I think with time BTC volatility will settle down. We're about to enter a derivatives BTC market for the first time which will level out the peaks and valleys for those who own it that way.
Secondly, in the grand overall historical picture, BTC has only been here about 20 minutes.
Third, I think Bitcoin is more of a store of wealth than an everyday currency...but no doubt for daily use there will be alts/debit cards of some type that we simply load-use-and reload from BTC or other slow fat coins. I truly believe Bitcoin will take the place of checking, money market and CD accounts.
My only real worry is the possibility of the quantum computers hacking in (although we've got time to build countermeasures) or something that kills the internet like a multiple EMT attacks. Of course if that happens, we've got more problems than just currency!
We are witnessing and living a revolution! We are making world history!
First, I think with time BTC volatility will settle down. We're about to enter a derivatives BTC market for the first time which will level out the peaks and valleys for those who own it that way.
Secondly, in the grand overall historical picture, BTC has only been here about 20 minutes.
Third, I think Bitcoin is more of a store of wealth than an everyday currency...but no doubt for daily use there will be alts/debit cards of some type that we simply load-use-and reload from BTC or other slow fat coins. I truly believe Bitcoin will take the place of checking, money market and CD accounts.
My only real worry is the possibility of the quantum computers hacking in (although we've got time to build countermeasures) or something that kills the internet like a multiple EMT attacks. Of course if that happens, we've got more problems than just currency!
We are witnessing and living a revolution! We are making world history!
November 15, 2017, 09:26:49 PM
with more volumen bitcoin will be more and more stable in the future, the fluctations will decrease each time more and more and will hold the value but always will be deflationary.
November 15, 2017, 09:15:47 PM
For now, the price of bitcoin fluctuates so much that it does not fit well as a standard currency for circulation, but as time goes by, bitcoin becomes more standardized and Bitcoin becomes the currency of the world.
November 15, 2017, 09:06:50 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
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
Yes I also think about that, because it will be hard if bitcoins will be the one to be replace by our currency and we have an exact money to buy an exact thing and suddenly the price of the bitcoins in the market drops you cannot buy that money, and some cases like that. Bitcoins will be or can be used as a mode of payment but it will not replaced an occuring currency. It will be an official currency for businesses because it is decentralized and it is also going ot bw an investment.
November 15, 2017, 08:57:26 PM
The real obstacles are transaction costs and transaction speed. Stability will come at some point, but as long as speed is slow and transaction cost is high, it’ll never be a true alternative to fiat.
November 14, 2017, 01:15:52 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
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
Yes I am agreeing with you my friend bitcoins cannot replace our currency today because the value of bitcoins are not stable. And we cannot rely on that thing because it might drops the price any moment. It can be an official currency but it will not replace any currency because of the fact that bitcoins are also decentralized. Maybe the country will make their own digital currency in the future and their price will be as stable as it was today.
November 14, 2017, 01:08:12 AM
That is correct Bitcoin will never replace world currency because of the value of the money in this world, it first of all has to have a fix rate amount without that it can only be a bitcoin.
November 14, 2017, 01:07:15 AM
Bitcoin is still young as compared to other fiat currencies. Bitcoin is not yet used in place of fiat currencies. It needs to grow much more, then only it will become more global. The Internet makes the price of bitcoin more volatile.
November 14, 2017, 01:07:03 AM
Bitcoin is the newest and fastest going cryptocurrency ever. It has created a strong and safe alternative for the currencies currently operating in the market. But it cannot become world currency. It posses the potential, but will take long time. Popularity of bitcoin is limited countries. Developing and third world countries cannot afford the setup required for bitcoin currency. Due to its decentralised nature and limited supply, bitcoin is far volatile in nature. To become a world currency it has to go through many updates and regulations.
November 14, 2017, 01:04:25 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
This is absolutely true and I can't agree with you more. That's because Bitcoin is volatole in nature since its market value is only dependent with its market demand. But in the first place, i doubt that it is a goal of Bitcoin to replace other currencies. So maybe even if in the future it will be more stable, regular currencies will still exist since it played a huge role for decades. 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
November 14, 2017, 12:53:45 AM
Bitcoin has not yet been able to serve as a stable store of value because many people lack understanding the technology behind bitcoin. I bet in the near future after the hype and speculation simmer down and Bitcoin already becomes a boringly well-understood financial asset.the price will stabilize.
November 14, 2017, 12:50:37 AM
This is the main reason why all the compact governments are banned bitcoin, due to uncertain and unstable prices, if an official country uses bitcoin then price chaos prevents the economy and transactions.
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