bitcoin cannot replace currency in the world because price is not stable - page 12.

Blackwhite69

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Quote from: Fasdartin on November 12, 2017, 08:41:28 AM

Quote from: Nightmare1325 on November 08, 2017, 01:29:25 PM

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.

That right, Bitcoin is virtual money not money that can be held or paper money so Bitcoins can not replace paper money that has a fixed price in each country respectively. Bitcoin will be more useful to make transactions between countries quickly in comparison with others.

matanglawin

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Quote from: facenew111 on July 07, 2017, 01:40:42 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

Actually it is a currency, specifically a digital currency. Yes it is true that bitcoin will never replace currency in the world since in the first place it is not even the goal of Bitcoin. Surely if the development of Bitcoin continues, it will be more dominant than other currencies in the world but ofcourse, other currencies will still be around.

KingOfWinterfell01

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Quote from: facenew111 on July 07, 2017, 01:40:42 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 agree with this. Bitcoin cannot be a mainstay currency for everyone because it's highly unstable. It cannot sustain a reasonable price. Plus, it's also very confusing to be using bitcoins for your daily expenditures because of the fact that if bitcoin prices change, so will major commodities will change as well.

DoublerHunter

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Quote from: 8Habits on November 13, 2017, 06:52:16 PM

Quote from: Fasdartin on November 12, 2017, 08:41:28 AM

Quote from: Nightmare1325 on November 08, 2017, 01:29:25 PM

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.

Fiat will not become useless because just like what you have said, it will stay as it is and bitcoin will become a great option or alternative for doing transaction like payment and other type of transaction that includes money because with bitcoin it is easier to send since you just need an internet and a device and the fees are lower than the traditional method of sending money to another and it is also secure so it is just a perfect mode of payment.

8Habits

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Quote from: Fasdartin on November 12, 2017, 08:41:28 AM

Quote from: Nightmare1325 on November 08, 2017, 01:29:25 PM

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.

Fasdartin

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Quote from: Nightmare1325 on November 08, 2017, 01:29:25 PM

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.

leisha

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All currencies in the world fluctuates as time passes by but compared to cryptocurrencies, the change is very high so it is true that it can't replace the currency in the world. We can use it in the virtual world but we cannot use it in the real world. Even BTC is the most popular currency in the world, still it cannot be a world currency because there are still many countries that are not accepting this kind of currency so it really cannot replace the currency in the world.

Sithara007

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The exchange rates should not matter much. If a merchant enables Bitcoin payments through services such as Coinbase, then he is getting the equivalent amount of fiat currency in his account irrespective of the exchange rate of Bitcoin. But the problem will be there if the merchant enables direct Bitcoin payments, rather than BitPay/Coinbase.

valentine401

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Its true that bitcoins is not really stable and changing currency from fiat to bitcoins is very impossible. It was an advantage for everyone who know's how to earn bitcoins but still fiat will never be changed to bitcoins.

darefreads

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I think Bitcoin didn't want to became a currency in the to replace the old one. maybe just bitcoin is popular now we can't say that he/she want it because of that many changes can happen and I just want to say that I don't want bitcoin to be currency right now it may Change again the value.

wismases

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Not on the issue stability in my opinion to make bitcoin as global currency. However, it lies in the acceptance of whole country as well as the confirmation of every transaction that sometimes quite long.

Zandar

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As long as bitcoin does not find a solution where a transaction is done within minutes, it can never ever replace currency. No one wants to sell a car and wait for days before the confirmations are done to get his money, by then the gotten BTC might have gone down in value as well. Segwit fork was gonna solve this problem for a bit, with the cancelation of that the banks can laugh how BTC is gonna keep going down from now on.

orka39

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Bitcoin can become currency as payment system but not legal currency in any country.
Like you said, legal currency in any country have to be more stable, its true. But beside of become legal currency like USD, bitcoin can become online currency without central bank.

lyks15

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Bitcoin cannot replace any currency in the world because its value has not stable it may change any time of the day. And bitcoin is not recognized by the government,honestly because bitcoin is tax free and they will get nothing about bitcoin. For me own opinion bitcoin can not replace totally the currency BUT on the other hand it may become a back up to support a online activity to pay everything onlne. And to become smooth and more convinient all the paying transaction.

Ingoats

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Quote from: facenew111 on July 07, 2017, 01:40:42 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

That's indeed true at this moment. But as soon as Bitcoin is already legal to most of the places, more retailers will accept it and surely, tge demand will be high. Cryptocurrency are dependent on the demand that a crypto.is getting from the market and if the demand will continuously rise, same thing will happen to its value. So in the future, there's a possibility for bitcoin to be less volatile.

Manadhnis

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I think that bitcoin will never replace the current currency because bitcoin is going up and down in value and people are only using bitcoin to make money for themselves not to actually buy anything with it.

MaidCheer

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Bitcoin is not however steady so far that'll be a geat hindrance, the main reason why bitcoin can't substitute forex and bitcoin isn't yet applied in some nations.But, If bitcoin's recognition will continue to distribute around the globe there's a possibility but it'll take a long term.

gambitcoin53

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that is why we cannot replace a fiat currency with bitcoin, because of the huge percentage of fluctuation rate of bitcoin versus fiats, though fiats are unstable too, bitcoin is more unstable, it is too much risky than dollar or any other currencies, let us just be aware of the fluctuation and swift in investing.

Delarock

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I agree with you, if this happens then Bitcoin will be the global currency of the whole world and everyone can travel or pay with Bitcoin. I think the world is in favor of Bitcoin and will soon be legalizing Bitcoin in the future

xiaomingdada

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Bitcoin is still under development, so the value of bitcoin has not been set, and the price of bitcoin fluctuates more. Bitcoin can become a global currency, Bitcoin still has a long way to go. Bitcoin era will come.

Topic: bitcoin cannot replace currency in the world because price is not stable - page 12. (Read 13361 times)