Topic: bitcoin cannot replace currency in the world because price is not stable - page 6. (Read 13345 times)

The real money must be a medium of exchange, a valuable commodity, and the current digital currency is not quite so, Bitcoin does not, and the rest of the coins do not. Besides, bitcoin prices fluctuate continuously, to replace the currency is really difficult.
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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.

The bitcoin cannot replaced the currency of the whole countries because all people are stick with it. There is a process that followed therefore it will not easy for them to just let it go for bitcoin.

completely agree. The price is far too volatile to be used broadly. Why would I spend the BTC if the price can rise overnight?

Even now bitcoin made a lot of space in changing the price but not all the time it will remain the same. So it is unstable, but it will get more people to invest than any other currency as now people are ready to buy bitcoin instead of any Torahs currency because it is easy to use and we can pay for a lot of thing even if we are at home so this way bitcoin is more convenient to sue and to invest, it is main reason why most of people feels attraction towards bitcoin than any other currency.

I don’t think bitcoin want to replace fiat currencies. It is meant to be a peer to peer fund transfer. In any case, blockchain has proven to be successful and have high possibility to replace the traditional payment system.

Bitcoin is a digital currency. Fiats and bitcoins have their values, bitcoin has a fixed supply while fiats increases supply every year. They are both currencies that is used in different worlds.

The reason to this price fluctuation is also a reason why bitcoin is so popular and often used today. So if we wish to use it as currency we will have to do all efforts to popularise it among masses specially in third world countries and developing countries. When it is widely accepted people will definitely start using it as currency. We can only expect the cruise of this currency to be stable, so that it could be equated to the international currency.

Well who says bitcoin needs to replace anything? Bitcoin will reach it's peak some time in the future and then the price would be more stable to be more of a currency, but it doesn't need to replace fiat. Let people have choices. Its better to have a crypto and fiat option when doing transactions in the future

That is the disadvantage of bitcoin so much volatility in the price because of this nature bitcoin is not acceptable as a currency in the world. If the price is stable then only can be considered to make as a official currency of any country nobody accepts of the price is unstable.

Not only Bitcoin but all other and many more other coins will also play a important role in transacting in a secured process. Currency/Fiat will not be replaced for sure, it will just co-exist. Recently many governments are thinking to release there own coins, so here Bitcoin won't directly come into effect.
Moreover the price being volatile will ofcourse effect, daily transaction atleast with Bitcoin it will be so. Personally on the downfall of BTC during previous few weeks, I was using Litecoin more for transaction, so all the crypto coins will have an impact in the world.

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.

With this opinion one can agree, because tomorrow the price of bitcoin is low and at a busy moment it can soar very sharply. We can only expect the cruise of this currency to be stable, so that it could be equated to the international currency

I don't see a serious need to replace the currency with bitcoin. BTC is a very good investment tool.

But there are other cryptocurrency than bitcoin?

Perhaps the cryptocurrency should have their own product so that the price will be stable.

If they do not have any product, that is only a speculative market.

That is why bitcoin can drop 10% in 1 month.

That is just my opinion. 

Bitcoin may not yet totally replace traditional  currency, but  it can be play a big role in the lives of people. Bitcoin can still be heavily involved in the activities of people. It can still have a big impact in the world. People can use it as a good investment. That's good enough for the bitcoin community. 

Unfortunately its an absolutely yes, bitcoin can't replace currency in the due to its pricing is not stable. Unlike native currency it was use every nation and it was accepted nationwide even in ordinary expenses that leads to its stability . While bitcoin, sometimes its high sometimes its low and you cant control it becuase it price depends on the situation in the market.

I agree with you i cannot say thatbthe bitcpins can replace any fiat in this world because they are not stable. And not being stable means that there are a possibilities thst they will go down. And the people do not like their money to go down without doing anything, people always want their money to go up and beung volatile do not always goes up it depends on the supply and demand of the coin. But lets see if the bitcoins can break that. They can always co exist with other coins.

Bitcoin will not change the currency of a country, because the currency of a country has its own pride for the country because as a sign that the country has its own currency,

Unstable Bitcoin prices also can not replace the livelihood allowance at home. Unfortunately the legalization factor also affects Bitcoin,

It is not possible Bitcoin will replace the currency as a tool to transact in the purchase of goods or services, such as in my country that is still not in the legality.

Now the state is wary of Bitcoin because of its high volatility and the ability to inflate as a financial bubble.

Volatility in prices of bitcoin may stop someone using it as currency but prices of fiat currency also decreases with the increase in inflation so prices of fiat are also not stable.  Bitcoin has certain limitations too where we are unable to use it as fiat currency.  Majority of the population is not aware or it's usage or even may have not heard it or are deprived of using it because of lack of infrastructure.  So if we wish to use it as currency we will have to do all efforts to popularise it among masses specially in third world countries and developing countries.  When it is widely accepted people will definitely start using it as currency.  
In some  cases it is better to use bitcoin as currency instead of fiat.  Suppose I being from India desire to have a tour to Indonesia I have two options; first Convert Indian Rupee to US$ because Indonesian Rupiah is not easily available in my country and then on my arrival to Indonesia then convert US$ to Indonesian currency.  I have to pay exchange / fees twice for single visit.  In the same way at the end of my tour I will desire to convert Indonesian currency to Indian currency so I will have to adopt the same route i.e. first convert Indonesian currency to US $ then on my arrival back to India US $ to Indian rupee again paying double fees.  But if I use bitcoin and if it is accepted by the tour operators then I will have to pay fees just ones for the exact amount required as cost of the tour + other payments required to be made during my tour for petty expenses and in this way I will have to just pay commission @ single time  only.  So this is the surplus point with the bitcoin.
If we talk about the regulations; fiat currency is legally acceptable within the boundaries of the country of which the fiat currency belongs to.  Bitcoin is internationally accepted except very few exceptions.
Bitcoin is not just currency ; it is store of value too i.e. investment too.  Due to volatility in prices though it's price may move either ways but it is not true with fiat currency.  Inflation is truth of world economy and as a result the value of the fiat currency goes downwards with the passage of time.  It may also be called the increase in prices of commodities with the passage of time but it is still true that purchasing power of fiat has decreased and  the world has never experienced opposite to it i.e. the value of currency going upwards with the passage of time.  So if we wish to use bitcoin as currency; it will have lesser chances of loss of value as compared to fiat because of value of fiat going downwards due to inflation though the value of bitcoin may increase more than the cost of commodities increase and as a result owner gaining due to this factor.  
So both fiat and bitcoin are having their own merits / demerits.  Somewhere fiat will be better option in current scenerio but somewhere else bitcoin will definitely be better option.  Fiat is just currency; but bitcoin is investment too.