Topic: bitcoin cannot replace currency in the world because price is not stable - page 33. (Read 13359 times)
July 24, 2017, 04:26:25 PM
It seems to me that the very formulation of the question of whether bitcoin can replace the existing currency is illogical. Bitcoin can never completely replace, say, the dollar. There will always be certain segments of the market where they will be calculated only by paper money.
July 15, 2017, 05:07:58 AM
This is a silly question that I may not be able to answer unless you really understand about bitcoin and the whole currency 
I think bitcoin could replace it in the future if it really needed to be a much easier transaction tool
I think bitcoin could replace it in the future if it really needed to be a much easier transaction tool
July 15, 2017, 02:40:41 AM
Of course, it is not yet playing so much as an currency as its present usage because of immense speculation as to its future value. But then it is more of a digital asset. Now, the reason of course is its volatility but mind you if Bitcoin is as stable as gold or USA dollar then I don't think it will really attract buyers and users as it is doing now. Volatility has become a two-edged sword for Bitcoin...it is helping it attract more people because of that opportunity to earn money but can also turn off many merchants and buyers because it can jump high and can go low anytime.
However, time is coming when it would reach a certain plateau and that is when it can be more stable and can be used more as a currency just like the fiat money we have. Bitcoin is still young...and just like a teenager it can be hyper-active and full of bouncing life.
However, time is coming when it would reach a certain plateau and that is when it can be more stable and can be used more as a currency just like the fiat money we have. Bitcoin is still young...and just like a teenager it can be hyper-active and full of bouncing life.
July 15, 2017, 02:35:43 AM
If more people adopt it, resulting in a much bigger market cap and the scaling problem is solved, BTC will become more stabel.
Furthermore if it is used by more people as a daily currency it will become more stabel too
Furthermore if it is used by more people as a daily currency it will become more stabel too
July 15, 2017, 02:31:22 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
Yes our dollar currency never replace because dollar is stable and dollar are the main currency in the whole world. Bitcoin is good also but not all are using bitcoin and you are right bitcoin up and down is so fast so much better to hold it. 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
July 15, 2017, 02:30:44 AM
Bitcoin can never replace fiat as @mjglqw said "Bitcoin is at its young stage" but for fiat it has been from time immemorial and cannot be replaced.
July 15, 2017, 02:06:37 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
Of course bitcoin will not be able to replace any fiat currency, because you know why? Bitcoin has problems with transactions and long confirmation times and since no one wants to play a 2 dollar confirmation fee for a 5 dollar coffee. Bitcoin is still very young which makes it susceptible to change. Also one important thing you are forgetting that bitcoin is decentralised which means it isn’t controlled by anything, which centralised fiat currencies would be controlled by the banks and etc. Due to how bitcoin is decentralised, it means the price of it can change very fast, which would also make it inconvenient for buying real life goods or services.
July 15, 2017, 01:14:10 AM
Yes, it cannot replace currency right now but it has a long way it will replace the currency we are used to use right now, the key to this currency is that it enables quick and cheap online payments without the need for traditional banking channels. One of the biggest barriers that it has to overcome is the general acceptance of Bitcoin being safe and stable as there is no government regulating it, unlike most currencies. Instead, Bitcoin self-regulates and new coins are issued at the pace at which the miners produce the coins. This is a positive, though, as it is designed to be difficult to create coins so that there is a steady stream of coins being produced.
July 15, 2017, 01:11:09 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
We cannot judge and easily state that bitcoin cannot replace world currency or become a world currency because of its unstable pfee ice value. We all know that bitcoin is a new type of currency so it is just normal that it will first experience price pumps and dumps before being able to established its stable price peak. It takes time for a single currency to adopt its price because many currency have already been established. We cannot basically based our judgment that bitcoin cannot be a currency just because of the price value basis because it can change as time pass bycurrency 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
July 15, 2017, 12:59:46 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
Yes bitcoin's price value is not that stable compared to USD when it comes to the price value's pumps and dumps. But we must be considerate and put it into our minds that bitcoin is just starting to be built into the future currency. It will experience many scenarios to testify and adjust rather adopt its value to suit demands when it has been already established to be one of the global currency accepted in many countries. We must not just have a single basis to say that bitcoin cannot be a currency that it is just a stock and cannot be aligned as a fiat. 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
July 15, 2017, 12:40:05 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
Well, I agree with what you are saying but you are forgetting something, which will change your whole perspective on this issue. Bitcoin was not created as a currency that would overtake fiat currencies and change how we pay and buy stuff forever. Bitcoin was made so it would exist alongside to our normal currencies, and you can’t just expect it to overtake all other currencies and become the currency of the future, because bitcoin wasn’t made for that, you are giving it a too high expectation which it will not reach.
July 14, 2017, 11:38:57 PM
The price of btc is unstable, but I do not think this has anything to do with btc replacing currencies around the world. Because btc is only a virtual currency, it can only exist in parallel with other currencies and can not replace.
Honestly price fluctuations of bitcoin will makes it difficult to replace world currency, as we can see recently the price had been going up and down and also not being decentralized is another major factor that can militates it acceptance globally. 
July 14, 2017, 10:41:46 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
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.
The two therefore are incomparable for now. And the two do not really fall in the same place because the other one is a fiat currency and the other one is an online currency.
Bitcoin is not actually made to replace fiat altogether. It was designed as an alternative for people who do not like the way our transactions are going on right now. It is decentralized and anonymous yet transparent.
July 14, 2017, 10:13:12 PM
The price of btc is unstable, but I do not think this has anything to do with btc replacing currencies around the world. Because btc is only a virtual currency, it can only exist in parallel with other currencies and can not replace.
July 14, 2017, 08:09:44 PM
Exactly what I've been thinking. You never know how much your bitcoin is going t be worth tomorrow, next week or month. Maybe the value will increase, or maybe decrease dramatically.
I do not know what are you saying, bitcoin itself is a currency, but just a digital currency where there are no physical coin and a decentralised currency.
And I think even if it had a low price, if government found these digital currency to be secure, stable and safe they will be using these digital currency.
I agree with you about bitcoin as a currency. The fact that it keeps changing its value qualifies it as a currency - there is a continuing flow of value or price. When bitcoin will continue to give value and secure transactions, it is just a matter of time that government will get noticed to it. But the downside is if they will regulate it.
Yes that is right, but the problem is, as the OP said, the changes in it's price are so fast and it happens every minute. I think with that people even the government will be having a hard time using that kind of currency.
July 14, 2017, 08:02:05 PM
Exactly what I've been thinking. You never know how much your bitcoin is going t be worth tomorrow, next week or month. Maybe the value will increase, or maybe decrease dramatically.
I do not know what are you saying, bitcoin itself is a currency, but just a digital currency where there are no physical coin and a decentralised currency.
And I think even if it had a low price, if government found these digital currency to be secure, stable and safe they will be using these digital currency.
I think he is saying that it is a currency but not a fully or thoroughly accepted in the real world. Bitcoin price really changes it's price every single minute and people might be really alarmed when they will be seeing their money decreasing and decreasing it's value or it's price. Who would want their money to unstable, right?
July 14, 2017, 07:59:28 PM
Exactly what I've been thinking. You never know how much your bitcoin is going t be worth tomorrow, next week or month. Maybe the value will increase, or maybe decrease dramatically.
I do not know what are you saying, bitcoin itself is a currency, but just a digital currency where there are no physical coin and a decentralised currency.
And I think even if it had a low price, if government found these digital currency to be secure, stable and safe they will be using these digital currency.
I agree with you about bitcoin as a currency. The fact that it keeps changing its value qualifies it as a currency - there is a continuing flow of value or price. When bitcoin will continue to give value and secure transactions, it is just a matter of time that government will get noticed to it. But the downside is if they will regulate it.
July 14, 2017, 07:57:19 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
Well said newbie, bitcoin replacing fiats or actual currency is far years off because of it's stability though it may be accepted as a secondary currency in a country, that is a given. And bitcoin is a well known stock or investment online which is pretty popular nowadays, not only bitcoin but also many altcoins.
July 14, 2017, 07:53:39 PM
Exactly what I've been thinking. You never know how much your bitcoin is going t be worth tomorrow, next week or month. Maybe the value will increase, or maybe decrease dramatically.
I do not know what are you saying, bitcoin itself is a currency, but just a digital currency where there are no physical coin and a decentralised currency.
And I think even if it had a low price, if government found these digital currency to be secure, stable and safe they will be using these digital currency.
July 14, 2017, 07:42:03 PM
Exactly what I've been thinking. You never know how much your bitcoin is going t be worth tomorrow, next week or month. Maybe the value will increase, or maybe decrease dramatically.
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