This is what distinguishes bitcoin with fiat money, if looking at the function of money just as a payment system only, more than that fiat money can not be used for other things such as investing or instant trading.
Howover, bitcoin functions not only as a payment system only. But someone who has their bitcoin is free to choose using bitcoin for payment systems, investing or trading. This is what perfected a system of value and has many functions.
Topic: Bitcoin too volatile for payment, but what is the problem ? - page 2. (Read 553 times)
It is a big virtual currency, popular with everyone entering the market. Bitcoin is a success but if you are talking about Bitcoin as a currency considering it as an unstable currency is a weakness for people. Consumer and Business.
Volatility of bitcoin should be a normal thing,simply because it's tradeable, but for investors it's not really a good one.. Your 1000$ can be reduced to 200$ in a heartbeat..
volatility is not a problem it is some time prove good for some people and sometime bad, and also it is essential for the balance.
Lighting network defiantly seems like a viable solution. The other way I'd look at this is Bitcoin is great for big purchases - houses, cars, etc
That's not enough, the main thing is volatility we have numerous ways to make the transaction of bitcoin faster but the volatility is passive in bitcoin and they are right if you really want to make Bitcoin as a reliable way for payments most especially for microtransactions then it needs to be stable like the other stable coins and fiat did, big purchases are also fine as long as you are planning to hold bitcoin.
In my opinion, i think bitcoin is really good only for investment and not payment because anytime the value is fluctuating which is really hard to adjust and to perform payment transactions.
They could potentially bring a lot of people in this ecosystem since their peers could use bitcoin as a form of payment.Because of that some merchants lost interest stopped I don't mind the volatilty when i'm spending my Bitcoin if the price goes down I have no choice but to deal with it by holding it until it recovers or spend more if it's needed.Well, being volatile of crypto currency is the reason why it so many investores out there that waiting on the price is down they can buy immediately, and if the price was high they can sell how much they want to sell, we can not culpable them on what they want to said about bitcoin, just ignore them if they say something bad.The real problem back then was the fees it got to the point where the price is so high plus the fees went to the moon because of the spam or there's just a lot of active users making transactions during that time. I don't really think that it will happen sooner or later unless services like BitPay continue to deliver cheap solutions for such merchants since it also takes off of their profits because they need to pay the concierge to receive the equivalent in dollars.
I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo
Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.
I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.
It's too volatile as many investors do transactions everyday that affects the supply and demand of bitcoin. With a decentralize currency, some big investors will take advantage to create issue to panic other investors to sell their coins. Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.
I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.
it is true that it is not stable for the purchase as the price fluctuates down and rises drastically while the value of a thing in the perjual traded on average has a setabil value in the long term so very not in accordance with the price of bitcoin which has the nature of fluctuations
I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo
Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.
Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.
For bitcoin to work as an effective currency, it needs to be stable. The reason why there aren't that many merchants around the bitcoin ecosystem is because they are scared to receive a payment that's too volatile. Bitcoin would have been an excellent currency since you can use it across borders without having to exchange to a country's local currency just to buy something, so there's that.
I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.
I see one: merchants. They could potentially bring a lot of people in this ecosystem since their peers could use bitcoin as a form of payment. I don't really think that it will happen sooner or later unless services like BitPay continue to deliver cheap solutions for such merchants since it also takes off of their profits because they need to pay the concierge to receive the equivalent in dollars. It isn't that serious of a disadvantage but still a disadvantage nonetheless
Instability is not a good thing at all knowing how risky it is. Who wants to receive a payment that is unstable or that can increase or decrease anytime soon anyway. Well, unless if you take risks or an optimist.
If you compare to how volatile Bitcoin is in the past, Bitcoin is much stable right now. The same thing happens to altcoins. Bitcoin will eventually become less and less volatile when more people believe in it.
Its okay if the bitcoin is the only payment method to buying a coffee, but sadly it's not so since fiats stable and cryptos unstable its hard to keep a static price with cryptocurrencies. That's the main problem and if and one day world depends only on cryptocurrencies instead of fiats then there will be no problem.
which I know bitcoin like bubbles, sometimes the price is still up and down and can not stabilize, and I'm not afraid of loss or disappointment, because bitcoin is like that and do not be afraid of investing losses, because someday bitcoin will rise again and do not be afraid of loss invest ya.
I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo
Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.
I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.
In actual it is a matter of understanding that most of the people are thinking in negative ways .Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.
I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.
Suppose you got payment in bitcoin , and after that there is both type of chances i.e up or down , here everyone are thinking that what will happen if get down but they are not thinking that they can make lot sir profit easily with the pricing up because there are much chances to get up the down .
Well not every people can understand this thing easily until we push them in this field to understand it thoroughly before to force them to accept payment in bitcoin .
So here overall problem of understanding only , not of the real thing that have any loss like thing .
Bitcoin is too volatile because it is still in the adoption stage and it will have stable value once more people started using it,but as you said the volatility keeps the people interested in the bitcoin because it helps us to make money with it by buying low and selling high but these kind of mentality needs to be changed of we want to have a stable price for it.
I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo
Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.
I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.
Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.
I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.
Volatile is not always bad, it can be good sometime. for example you buy when it low, and sell when it high.
But i think to become a solid payment currency, bitcoin need to be more stable in the future to avoid loss of value when it dropping too much.
Bitcoin is so volatile that the price fluctuates and its reacts to news that touch the heart.
Bitcoin is too volatile for payment but the volatile always work in the pump direction and I don't see the volatile as a problem because it can be avoid which is the reason why merchants, shore owner or business owner who was to accept bitcoin as payment need to be knowledgeable.
always in the pump direction? What do you mean? Do you mean the price is always rising?
There is no guarantee that bitcoin price will always rise.
I think there are mostly peoples are against cryptocurrencies because of bitcoin price when they are buying some coins for long term or short term investment and they are new in trading but when unfortunately bitcoin price move unexpectedly than they have to bear a loss that is why they are against,
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Bitcoin is too volatile for payment but the volatile always work in the pump direction and I don't see the volatile as a problem because it can be avoid which is the reason why merchants, shore owner or business owner who was to accept bitcoin as payment need to be knowledgeable.
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