Topic: bitcoin cannot replace currency in the world because price is not stable - page 5. (Read 13357 times)
February 28, 2018, 05:01:50 PM
No currencies have a stable value, USD, for example, is always changing in value - mostly downwards. But because 1 USD will also be worth 1 USD tomorrow, people don't notice this. Bitcoin is however very volatile and wouldn't be suitable as a currency atm. If bitcoin and other cryptocurrencies really do become truly mainstream then the same logic applies, 1 bitcoin = 1 bitcoin tomorrow, no matter what. The USD is just not swinging in value fast enough for people to notice in their everyday life, only when looking years back noticing everything has become 40% more expensive in the last 10 years
February 26, 2018, 12:31:47 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
Well to be honest, my thoughts about bitcoin replacing fiat will never happened because of the sudden dropping value of bitcoin. I know that it is very valuable in the world of crypto but in a certain country, the seniors and other people there doesn't have any idea and cares when it comes to crypto coins. The bitcoin is not stable and the continously dropping of value is veyr scary because anytime, anyone will might end up with an empty wallet. 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
February 26, 2018, 10:18:45 AM
In general, Bitcoin currently exists as an alternative currency, especially digital currency.
although the use of Bitcoin and cryptocurreny has increased internationally.
I think, bitcoin is still difficult to replace the role of conventional currency
although the use of Bitcoin and cryptocurreny has increased internationally.
I think, bitcoin is still difficult to replace the role of conventional currency
February 26, 2018, 10:00:34 AM
one of its characteristics that puts it at a disadvantage whenever replacing it as a currency used worldwide or on some nations. just think of workers that gets their salary in terms of bitcoin. its good yes, but only when the price is high because it will never be worth it to receive your salary in its lowesr value just because it's value is dependent on the volatility of bitcoin.
February 25, 2018, 03:43:51 PM
Of course, bitcoin is able to make the banks disappear! After all, the idea of bitcoin is very strong, in fact, it is designed to exclude the intermediary (banks) in the transfer between people!
February 22, 2018, 06:07:23 PM
Yes, indeed, the large volatility of bitcoin is one of the important reasons why it can not be the main currency of a particular state, since the state needs to tie its economy to a stable currency. However, as a kind of world digital money, bitcoin, in principle, can be used. This will already depend on the desire of specific states. Recently, information appeared that Russia supplied grain to Turkey in December last year. Russia received its money, say, when the bitcoin rate was about $ 20,000. However, then his rate fell to 6,000 dollars. How to look at such a deal in Turkey, when, after paying bitcoin at such a high cost, bitcoin has fallen in price by more than three times? Obviously, such a bitcoat volatility will significantly influence the position of the states in this regard.
February 22, 2018, 05:50:06 PM
I do not agree with the topic name. I believe that the price is not stable, because now bitcoin is a coin for speculation. Unfortunately now no one perceives this asset as an idea, only as a goal to earn quickly!
February 22, 2018, 05:13:05 PM
At the moment Bitcoin is just a parody of a currency. Even though the concept behind is great, there is far too much way to go to make it truly efficient and scalable.
That is what they said about the internet in the 90s, that it would never scale, that it would never work, now look. Btw the concept isn't just great, it is out of this world and believe me we will scale slowly and effective for the next 10 years so that Bitcoin is seen and recognized as international currency. Btw out of the 200 currencies in the world Bitcoin is already better than 30 of them, give it time and it will be top 25. February 22, 2018, 05:10:47 PM
Bitcoin cannot replace currency in the world even when the price is stable because it is not a money at all you can convert it also to money. Money and bitcoin are different, you use bitcoin in selected store only unlike money, and bitcoin still unknown in other stores. And even it will be known not all are willing to risk on bitcoin.
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.Yes you are right. The same thing as what you said, if we think and analysed the situation of our life today we must go to the better option and that is using bitcoin. I have a strong feeling that bitcoin can replace money. Even though bitcoin is not stable.
February 22, 2018, 05:00:18 PM
Actually that would not affect too much the importance of bitcoin if we consider that regardless of the utility it may have as a currency, it can still have an excellent performance as a store of value or as a means of payment, although I am convinced that once the market find a balance point could reach a maturity that allows a much lower volatility in the price of bitcoin, making the performance of the cryptocurrency market can be comparable to the performance of traditional markets.
February 22, 2018, 04:52:21 PM
While bitcoin is too young to be used as a currency. Now it is more relevant as an investment. And in the future it is possible to stabilize the price of bitcoin. Only time will tell.
February 22, 2018, 04:33:06 PM
I believe that with the passage of time bitcoin will be able to become a real currency and its price will be stable. This will happen approximately when all bitcoins will be mined.
February 22, 2018, 07:14:22 AM
At the moment Bitcoin is just a parody of a currency. Even though the concept behind is great, there is far too much way to go to make it truly efficient and scalable.
February 22, 2018, 07:09:01 AM
I just imagine... if I have a company that all capital use bitcoin asset; no dollar. And we are in mixed economic condition century, using altcoin, dollar, Yen currency, etc. How can I calculate for product price list if all assets are not stable?? If it pushes to be stable, who has this authority? No one can do it. Because market is one and only one have authority controlled. So, it means, it wouldn't be currency, but it able to be goods, asset, or something else.
So, if the question is can it replace currency?? I think no.
So, if the question is can it replace currency?? I think no.
February 22, 2018, 04:50:30 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 agree with you. Now the price of the bitcoin is not stable, but when the bitcoin accepted by all countries, the value of the bitcoin has won the acceptance of people around the world, its price will rise, when it reaches a certain price, it would have remained 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
February 22, 2018, 04:44:10 AM
Yes, Bitcoin cannot replace currency in the world, but it can be an alternative for those people who prefer it, for those people who understand that even it is not as stable as currency it is worth it, those who appreciate Bitcoin. Currency is already a convenient and well established means of transaction from the most most wealthiest to the most common person, so yes Bitcoin cannot replace currency in the near future.
February 22, 2018, 04:09:09 AM
The reason to this price fluctuation is also a reason why bitcoin is so popular and often used today, and it is the decentralisation of bitcoin. The downside of this of course would be the static prices and this is why bitcoin is not ready yet to make the leap to being able to be used in real life as well as online.
February 22, 2018, 03:27:22 AM
Could just be the conventional currency bitcoin if any institution/authority which guarantees the legalize bitcoin and world bank acknowledge
February 22, 2018, 03:24:06 AM
Bitcoin is not made to replace every countries' currency, rather it is a currency in a different platform - digital world.
Yes prices of bitcoin is highly volatile and changes to as much as 20 percent in the next few days or weeks, that is because it occurs in the global market and it can be used globally, I mean it does not have a specific country if which it can be used as local fiat, as opposed to US dollars in US - Riyals in Riyadh, Peso in Mexico.
But it is the beauty of bitcoin, volatility, that many gain profits! You need only be clever.
Don't imitate me-not clever!
Yes prices of bitcoin is highly volatile and changes to as much as 20 percent in the next few days or weeks, that is because it occurs in the global market and it can be used globally, I mean it does not have a specific country if which it can be used as local fiat, as opposed to US dollars in US - Riyals in Riyadh, Peso in Mexico.
But it is the beauty of bitcoin, volatility, that many gain profits! You need only be clever.
Don't imitate me-not clever!
February 22, 2018, 03:16:06 AM
Bitcoin cannot replace currency in the world even when the price is stable because it is not a money at all you can convert it also to money. Money and bitcoin are different, you use bitcoin in selected store only unlike money, and bitcoin still unknown in other stores. And even it will be known not all are willing to risk on bitcoin.
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. Jump to: