Topic: bitcoin cannot replace currency in the world because price is not stable - page 7. (Read 13357 times)
February 17, 2018, 07:43:26 AM
I completely agree. Maybe someday it will happen, but definitely not in the near future. Now this is an instrument and it's too early to talk about anything else.
February 17, 2018, 06:51:05 AM
Sad but true. Bitcoin couldn't be a currency and is stuck to being an asset for investment mainly because its value changes almost instantaneously. The high volatility of bitcoin doesn't only hurt bitcoin's chance to becoming a currency, it also hurts the investors especially when there is a huge decrease in the value of bitcoin.
February 17, 2018, 06:43:00 AM
For now yes, unfortunately, the high volatility rate of bitcoin hinders it from its purpose of being a digital currency. however, it found its home to the investment world. and I think bitcoin could stay as it is for a decade or less. but by then people should start coming up of ways to be able to banish bitcoin's high volatility rate.
February 17, 2018, 06:35:51 AM
I strongly agree with the title of the topic that bitcoin will not replace 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, besides the bitcoin whose price is unstable also can not replace the eyes house allowance. Unfortunately the legalization factor also affects bitcoin, as in my country that is still not legalkan so it will not be possible bitcoin will replace the currency as a tool to transact in the purchase of goods or services
February 17, 2018, 06:00:40 AM
You have to wonder why the price is so volatile. Banks and firms are majorly playing with bitcoin too. That is part of young stage of this currency. As updates are made and mass adoption will be easy with apps, the stability will come.
February 17, 2018, 05:49:19 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 not suitable for currency because of the high fluctuation, bitcoin is only suitable for a person who wants peer to peer payments, decentralized. Nowadays bitcoin is best suited to be a long-term digital asset, and currently can not replace the world currency because of the very unstable price level. 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 17, 2018, 05:47:35 AM
if bitcoin replace than we see next bitcoin in shape of Eth bro i think best time to investment in Eth 
February 17, 2018, 05:44:31 AM
I agree that Bitcoin cannot replace the world's currencies because it is decentralized. Currencies are controlled by government which is why Bitcoin is not here to replace our world's currency, I think they can just co exist and let the people decide on which one to use.
February 17, 2018, 04:05:00 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
To be a worldwide currency, Bitcoin needs time. Its on a growth path but not accepted as legal tender so far in many countries. First it need acceptance all over then only one can think about replacing USD.
February 17, 2018, 03:55:09 AM
The truth is that Bitcoin is fickle, it falls, it increases, so it can not be the official currency. Once there is a certain amount of bitcoin then it is possible to officially implement
I totally agree with your point. The instability of the bitcoin will not make itself as an official currency of a country. Bitcoin can really get a high value but on the otherside it can also hit a lower value.
February 17, 2018, 01:10:52 AM
The truth is that Bitcoin is fickle, it falls, it increases, so it can not be the official currency. Once there is a certain amount of bitcoin then it is possible to officially implement
February 14, 2018, 06:37:12 PM
I agree with this. Bitcoin cannot replace existing currency at this time. I think the reason is uncontrolled not about stability. All currencies are also changing price everyday but the government can control the change and this can not be done in bitcoin.
February 13, 2018, 05:37:29 PM
In principle, yes, one should agree with this. Bitcoin can not become a universally recognized currency of the world if it maintains the same level of volatility. This, in fact, is one of its main obstacles to its recognition by states and its free circulation around the world. Now the states are wary of bitcoin because of its high volatility and the ability to inflate it as a financial bubble.
February 13, 2018, 02:22:32 PM
The author of this topic is not right. The price of bitcoin will stabilize when it reaches the limits of its value. This should happen only after 2-3 years, not earlier.
February 13, 2018, 02:17:58 PM
This is a self evident statement which most of bitcoin-believers cannot really understand. There are days when the prices are swinging 30% - this is NOT the symptom of a successful currency. I see no solution to this problem.
February 13, 2018, 01:52:48 PM
Now that is totally wrong. Price stability is not the obstacle for replacing fiats.
Someone made a system with fiats long time ago and we all think now that this is the one possible model.
Again that's wrong.
Should cars always use gasoline? Why not electricity?
Someone made a system with fiats long time ago and we all think now that this is the one possible model.
Again that's wrong.
Should cars always use gasoline? Why not electricity?
February 13, 2018, 01:15:33 PM
Bitcoin is not yet a globally accepted currency because some governments are afraid of it but it's decentralised. It's secure and cannot be stolen so its value is very high and in future it will be something very very strong
February 13, 2018, 01:13:25 PM
Bitcoin cannot replace currency for sure.Bank's which regulate economy are for sure gonna stay here.Plus the deregulation on Bitcoin won't allow it to replace flat currency
February 13, 2018, 12:58:17 PM
I think in time bitcoin will stabilize and it could replace the currency in the world. A stable bitcoin will replace also gold
February 13, 2018, 12:48:43 PM
Bitcoin is extremely unstable. To the extent that you have no way of being able to buy the same thing with the same amount of bitcoin day to day. That is why bitcoin is not yet a form of currency. It is still a form of asset and will be for quite some time to come.
Jump to: