bitcoin cannot replace currency in the world because price is not stable - page 16.

BlackRacerX

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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

If bitcoin was to replace fiat money as a whole, it has to be stable first in order to achieve this. If doesn't stabilize the way it should be, then it wouldn't be a viable candidate to replace fiat money. Fiats are stable that's why it's an ideal currency barter with stores. Bitcoins, on the other hand, is so unstable that at some point, prices go up drastically and goes down drastically as well.

thenameisjay

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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

This one's actually true that's why bitcoins cannot replace fiat totally because of the manor fluctuation of price. That's why there are only a few stores that utilizes bitcoins as their main modes of payment. Bitcoins are too unpredictable as compared to dollars and euros that drops and rises prices at a few percentages at a time.

8Habits

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Quote from: Harlot on October 26, 2017, 03:10:27 PM

I don't think that volatility can be counted as a factor in order to replace a currency because even fiat currencies sometimes become volatile during an economic downturn. There is really no chance that an outside currency will replace something in which they own, it is like accepting other people can control your country. A legal tender of a country is protected by their constitution and laws, the government will need a major makeover in order to make Bitcoin their main currency.

Bitcoin is really not designed to be controlled and regulated by any government entity. That is really the basic reasons why many people get interested and invested in bitcoin because of this kind of freedom from any regulating bodies.

Harlot

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I don't think that volatility can be counted as a factor in order to replace a currency because even fiat currencies sometimes become volatile during an economic downturn. There is really no chance that an outside currency will replace something in which they own, it is like accepting other people can control your country. A legal tender of a country is protected by their constitution and laws, the government will need a major makeover in order to make Bitcoin their main currency.

bohr

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Quote from: elewton on October 12, 2017, 04:11:00 AM

Quote from: musharaf on October 12, 2017, 02:19:22 AM

Yes I agree it has its own importance it can’t replace other popular currencies because many countries even in the Asian countries they are not allowed other currency to hide their own currency.

Ya, but I have a diffirent thinking with you. About ten years ago, no one thinks that Iphone can replace qwerty phone like Nokia. But now, who still use Qwerty phone?

The problem with a currency is that we cannot change it just because something new has appeared, and so people are going to resist the changes, just look at the way we measure time, it does not make sense, we have months of 31, 30, 28 and sometimes 29 days, and there is not a reason for this, the names do not make sense either but since everyone know them already we cannot change it, currencies are similar, the dollar sucks but you cannot replace it or all the economies of the world are going to fall.

wenjun123

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Bitcoin is a very young currency and depends on many factors occurring in the global economy. Nevertheless, slowly, but surely the cost of bitcoin to date was 5305 dollars, and this is not the limit. And in the future, the crypto currency will have more opportunities to gain a foothold in the financial market, which, by the way, is happening now. And the time will come, bitcoin will be one of the major currencies in the world, on a par with the dollar, or maybe even higher. Time will tell.

andrew24p

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Most fiat has a market cap (not technically the right term) much higher than bitcoin. Its like a boat, the bigger it gets, the bigger the wave it takes to shake it. Not that I want bitcoin to replace fiat, but im just saying as it gets to a point where it is very very large and the wealth gets more distributed, volatility gets lower.

8Habits

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Quote from: Michael X on October 17, 2017, 03:54:25 AM

If we speak of the near future, I don’t see Bitcoin as a world currency either. I think that we will use different cryptocurrencies together with fiat. While the competition on the market will eventually show which of them is more convenient.

Correct. Bitcoin can go hand in hand with fiat and it will be benificial for user as to which currency he or she will goi g to use base upon each different transactions both online and offline.

Michael X

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If we speak of the near future, I don’t see Bitcoin as a world currency either. I think that we will use different cryptocurrencies together with fiat. While the competition on the market will eventually show which of them is more convenient.

8Habits

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Quote from: Anies_Sandi on October 16, 2017, 07:30:15 AM

Quote from: Cranidos on October 16, 2017, 01:55:51 AM

Quote from: equator on July 07, 2017, 02:22:34 AM

Quote from: mk4 on July 07, 2017, 01:52:10 AM

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

Bitcoin is made to be a global currency and not as stock.

Why is bitcoin so volatile?

Because bitcoin is in a very VERY young stage. The system isn't final yet. There are lots of updates to be made in the future that can determine if bitcoin will continue to be the de-facto of cryptocurrencies or not. Not to mention that we haven't achieved global adoption yet.

The USD has been around since forever. So common sense should tell you that it will be stable compared to crypto that hasn't even been around for more than a decade yet.

Do your own research.

But you are forgetting that USD or any other fiat currency is controlled by the government and Bitcoin is not controlled by anyone so price fluctuation is a common in Bitcoin. I agree with OP that Bitcoin is more like a Investment option then currency mode.

I also consider bitcoin as an investment or an asset that will have a great value over. Maybe other bitcoin are so amazed of its price for now to make them think bitcoin can replace the current existing fiat. Every currency in each country is being controlled by its government. They have laws and regulations for using these currencies. So I think bitcoin is so far from being regulated by the government, and of course the bitcoin users will never agree for centralization.

if I think that bitcoin is unstable, and my guess is that bitcoin can not replace the original currency in the country that we use as transaction tool.
because in the case of replacing it is not easy. there must be a rule as well so what this title is true is true.

Bitcoin was not really created to replace the fiat money and in fact, it should not be because fiat money is regulated by the government whole bitcoin is designed not to. That is one of the many reasons why bitcoin will not replace fiat but can go hand in hand with fiat money and it will then be the people preference what to use.

Anies_Sandi

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Quote from: Cranidos on October 16, 2017, 01:55:51 AM

Quote from: equator on July 07, 2017, 02:22:34 AM

Quote from: mk4 on July 07, 2017, 01:52:10 AM

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

Bitcoin is made to be a global currency and not as stock.

Why is bitcoin so volatile?

Because bitcoin is in a very VERY young stage. The system isn't final yet. There are lots of updates to be made in the future that can determine if bitcoin will continue to be the de-facto of cryptocurrencies or not. Not to mention that we haven't achieved global adoption yet.

The USD has been around since forever. So common sense should tell you that it will be stable compared to crypto that hasn't even been around for more than a decade yet.

Do your own research.

But you are forgetting that USD or any other fiat currency is controlled by the government and Bitcoin is not controlled by anyone so price fluctuation is a common in Bitcoin. I agree with OP that Bitcoin is more like a Investment option then currency mode.

I also consider bitcoin as an investment or an asset that will have a great value over. Maybe other bitcoin are so amazed of its price for now to make them think bitcoin can replace the current existing fiat. Every currency in each country is being controlled by its government. They have laws and regulations for using these currencies. So I think bitcoin is so far from being regulated by the government, and of course the bitcoin users will never agree for centralization.

if I think that bitcoin is unstable, and my guess is that bitcoin can not replace the original currency in the country that we use as transaction tool.
because in the case of replacing it is not easy. there must be a rule as well so what this title is true is true.

8Habits

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Quote from: bohr on October 15, 2017, 04:31:59 PM

Quote from: Cosbycoin on October 09, 2017, 12:51:00 AM

Quote from: azguard on October 05, 2017, 08:51:57 AM

Something that is not stable dont mean that can replace something this is normal. Bitcoin is not stable it ok we see that price is going up and down all the way.
But looking little bigger think that could be possible only if banks and government accept this, in other way this wont happen any time soon.

Decentralization is the blessing of bitcoin if its value is also stable then there will be no difference in cash and bitcoin so think positive bitcoin has a lot of room to earn faster as compare to conventional money and talking about its dump there is one thing that little dump creates a huge pump and that pump gives a lot of profit so if this will replace conventional one that will be best.

Decentralization is the only reason bitcoin still exists, if this was not the case, bitcoin would have been shutdown long time ago but governments like so many other digital currencies, but due to its decentralized nature governments cannot destroy bitcoin, so they are trying all kind of strategies, they are trying to manipulate the price, they are creating cheap copies in the form of forks and nothing is working.

Decentralization and a limited number of bitcoins (21 million bitcoins) are the prime reasons why it stays solid and capture the interest of both big time and ordinary investors. Because fiat money have no limit in terms of its production and that what makes its value go down over the course of the years while bitcoin, like gold will keep increasing because its number are limited.

Cranidos

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Quote from: equator on July 07, 2017, 02:22:34 AM

Quote from: mk4 on July 07, 2017, 01:52:10 AM

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

Bitcoin is made to be a global currency and not as stock.

Why is bitcoin so volatile?

Because bitcoin is in a very VERY young stage. The system isn't final yet. There are lots of updates to be made in the future that can determine if bitcoin will continue to be the de-facto of cryptocurrencies or not. Not to mention that we haven't achieved global adoption yet.

The USD has been around since forever. So common sense should tell you that it will be stable compared to crypto that hasn't even been around for more than a decade yet.

Do your own research.

But you are forgetting that USD or any other fiat currency is controlled by the government and Bitcoin is not controlled by anyone so price fluctuation is a common in Bitcoin. I agree with OP that Bitcoin is more like a Investment option then currency mode.

I also consider bitcoin as an investment or an asset that will have a great value over. Maybe other bitcoin are so amazed of its price for now to make them think bitcoin can replace the current existing fiat. Every currency in each country is being controlled by its government. They have laws and regulations for using these currencies. So I think bitcoin is so far from being regulated by the government, and of course the bitcoin users will never agree for centralization.

bohr

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Activity: 994

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Quote from: Cosbycoin on October 09, 2017, 12:51:00 AM

Quote from: azguard on October 05, 2017, 08:51:57 AM

Something that is not stable dont mean that can replace something this is normal. Bitcoin is not stable it ok we see that price is going up and down all the way.
But looking little bigger think that could be possible only if banks and government accept this, in other way this wont happen any time soon.

Decentralization is the blessing of bitcoin if its value is also stable then there will be no difference in cash and bitcoin so think positive bitcoin has a lot of room to earn faster as compare to conventional money and talking about its dump there is one thing that little dump creates a huge pump and that pump gives a lot of profit so if this will replace conventional one that will be best.

Decentralization is the only reason bitcoin still exists, if this was not the case, bitcoin would have been shutdown long time ago but governments like so many other digital currencies, but due to its decentralized nature governments cannot destroy bitcoin, so they are trying all kind of strategies, they are trying to manipulate the price, they are creating cheap copies in the form of forks and nothing is working.

kimpena

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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

Bitcoin cannot be world's currency in as early as what many think. And there is no assurance that it can replace dollar soon. Bitcoin doesn't able to handle well its value. You said that usd price goes up and down as well as bitcoin, but they don't the same percentage on how high will it rise and how low will it fall. Imagine, if bitcoin replaces dollar today, you have your bitcoin, then suddenly its value goes down, will you agree if your bitcoin will lessen its value with a big percentage? Yes dollar changes its value, but in a very small percentage where it does not give a very big impact. Unlike bitcoin, if its value goes up, you'll be rich, but if it goes down, you'll lose.

Visbay

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Quote from: musharaf on October 12, 2017, 02:19:22 AM

Yes I agree it has its own importance it can’t replace other popular currencies because many countries even in the Asian countries they are not allowed other currency to hide their own currency.

Yes its true bitcoin cannot replace other currency but bitcoin can play a role in any economy of the country and I think many of the develop countries have accepted bitcoin so I think I depend on bitcoin performance that how it keep itself on high position now a days bitcoin is so popular and stronger if bitcoin keep this progress alive so I hope it can replace some currencies.

oegarod

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Quote from: elewton on October 12, 2017, 04:11:00 AM

Quote from: musharaf on October 12, 2017, 02:19:22 AM

Yes I agree it has its own importance it can’t replace other popular currencies because many countries even in the Asian countries they are not allowed other currency to hide their own currency.

Ya, but I have a diffirent thinking with you. About ten years ago, no one thinks that Iphone can replace qwerty phone like Nokia. But now, who still use Qwerty phone?

That's a misconception and not the true fact. Even when qwerty was getting popularity the numeric phones were in use. Right now what we see with iPhone is the innovation, but still we're all not using iPhone. Same is the scenario with bitcoin along with fiat bitcoin was into usage long back but the innovation is valued and getting popular at present and this doesn't mean that bitcoin will replace fiat.

elewton

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Quote from: musharaf on October 12, 2017, 02:19:22 AM

Yes I agree it has its own importance it can’t replace other popular currencies because many countries even in the Asian countries they are not allowed other currency to hide their own currency.

Ya, but I have a diffirent thinking with you. About ten years ago, no one thinks that Iphone can replace qwerty phone like Nokia. But now, who still use Qwerty phone?

musharaf

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Yes I agree it has its own importance it can’t replace other popular currencies because many countries even in the Asian countries they are not allowed other currency to hide their own currency.

Arkann

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Bitcoin not only can not replace the usual currency because it has an unstable price, that is, it has very high volatility, but also because it differs from the usual currency in its nature and functionality, and this must be taken into account.

Topic: bitcoin cannot replace currency in the world because price is not stable - page 16. (Read 13359 times)