Bitcoin too volatile for payment, but what is the problem ? - page 5.

bobo012

sr. member

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Quote from: brawdias on May 18, 2018, 02:30:36 PM

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 is volatile because it is still in price discovery phase, as all great assets have been before prior to stabilizing.
I personally dont mind the volatility at all. It is superior mean of payment compared to cards, especially over the internet.

dothebeats

legendary

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Quote from: brawdias on May 18, 2018, 02:30:36 PM

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.

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.

Quote from: brawdias on May 18, 2018, 02:30:36 PM

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

brawdias

newbie

Activity: 84

Merit: 0

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.

Topic: Bitcoin too volatile for payment, but what is the problem ? - page 5. (Read 611 times)