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Topic: Bitcoin's Volatility Problem - page 2. (Read 370 times)

sr. member
Activity: 924
Merit: 365
June 13, 2023, 06:40:53 PM
#37
For example, if someone were to receive payment in bitcoin BTC for a product or sevice, the value of that payment could decrease significantly before they have chance to exchange it for a more stable currency. Similarly, business that hold bitcoin as an investment may experience significant losses if the value of bitcoin drops suddenly.
Those business owners and those individuals that want to be paid or utilize bitcoin as a means of payment would have known the cons and pros of bitcoin before accepting it as a means of payment.

Bitcoin can be used as another means of payment and that doesn't mean you must or should adopt it into your business as a payment method. It is very optional.  Choosing it as a payment method means that the person is ready to accept its volatile price
copper member
Activity: 1470
Merit: 1609
Bitcoin Bottom was at $15.4k
June 13, 2023, 06:22:13 PM
#36
How come Bitcoin's Volatility is a problem? I don't get it. It is acting just like a real-world asset and when millions of people try to buy or sell the asset, it can go up and down multiple times in a day.
That volatility isn't a problem, it's great as this gets you more returns on your trades as the chances of big moves are more than normal stocks.
sr. member
Activity: 1316
Merit: 356
June 13, 2023, 06:14:59 PM
#35
The value of bitcoin can fluctuate rapidly and dramatically, sometimes within a single day. This can create challenges for individuals and businesses that use bitcoin as a means of payment or as an investment.
Yes, volatility is one of the reasons why some business owners find it difficult to accept Bitcoin as payment. I am impressed by the business owners who accept Bitcoin since they are not concerned about the price falling. They understand that volatility offers advantages, particularly in Bitcoin, where the value has a significant potential for increase. That is why volatility is not really a concern in terms of payments; the only issue I see is the fee and scalability, both of which are significantly fixed by the Lightning Network.
legendary
Activity: 3164
Merit: 1127
Leading Crypto Sports Betting & Casino Platform
June 13, 2023, 05:43:15 PM
#34
when I read for these kinds of things OP posts I'm left wondering what the hell do people really want. when the price was stagnant at 15000$ for a long time I kept reading comments from people complaining that bitcoin was dead because it had no volatility, I remember that at the time I even commented that that situation was good for people who wanted to use bitcoin as payment method, but from what I could see my comment was making those people change their minds, some time later the price of bitcoin started to rise, so people's optimism was already visible

this is because they were already starting to create a thread with predictions of $80,000 or $100k for this year, everything is going well until the price, after reaching $30,000, dropped a little and I saw peximistic comments again, it seems that the price is only it should always go up and it should never go down, which is something impossible to happen, but unfortunately people don't realize that, now I see people complaining about volatility again, only this time they want less volatility, because they think that with this bitcoin will be used for payments, but they forget that it already has fiat that its purpose is precisely to be used for payments, with the appearance of kyc it no longer makes sense to take bitcoin for payments
sr. member
Activity: 952
Merit: 323
June 13, 2023, 05:23:19 PM
#33
The value of bitcoin can fluctuate rapidly and dramatically, sometimes within a single day. This can create challenges for individuals and businesses that use bitcoin as a means of payment or as an investment.
off course, but the business who use bitcoin as payment methode have prepared this case. They can exchange directly the bitcoin they have received to their fiat or any stable coin. I am sure they already have plan to handle it. 

For example, if someone were to receive payment in bitcoin BTC for a product or sevice, the value of that payment could decrease significantly before they have chance to exchange it for a more stable currency. Similarly, business that hold bitcoin as an investment may experience significant losses if the value of bitcoin drops suddenly.
Some of businesses who accept bitcoin as payment have automatic system to exchage it then save the whole ammount of transactions that is just made

sr. member
Activity: 1008
Merit: 366
June 13, 2023, 05:01:13 PM
#32
What's your backup plan? If someone is already using it in their business or a way of payment, they need to know very well how the market works and how much volatile the market is. You can not just come and implement Bitcoin in your business without knowing all this. If someone is using it already, they are well aware of what kind of risks it holds, and they obviously have a backup up plan for that.
Bitcoin is still not accepted worldwide as a legal currency. So we can't expect to use it as a stable method of payment. What's the thing we still use for all kind of transactions? What is acceptable in any situation without any issue? Yes, it's fiat money. Bitcoin is a replacement for this, but as Bitcoin is still not acceptable is all kind of situation, we need to use fiat in some situations. So using both can make a perfect environment for business use. If you are in loss with bitcoin (price drop), you fiat until it's back to your desire amount, or you are making profits. Also, if you wish to hold to get profits from it, you can also convert it to fiat when you have reached your target profit.
Until Bitcoin becomes the one and only global currency, we need to tackle situations like this with the help of both fiat and Bitcoin.
hero member
Activity: 1680
Merit: 987
#SWGT CERTIK Audited
June 13, 2023, 01:58:12 PM
#31
The value of bitcoin can fluctuate rapidly and dramatically, sometimes within a single day. This can create challenges for individuals and businesses that use bitcoin as a means of payment or as an investment.

For example, if someone were to receive payment in bitcoin BTC for a product or sevice, the value of that payment could decrease significantly before they have chance to exchange it for a more stable currency. Similarly, business that hold bitcoin as an investment may experience significant losses if the value of bitcoin drops suddenly.


The price of BTC in cryptotrade is different than at exchange hubs, the same happens with fiat: the prices of fiat currencies fluctuate in trading, but at exchange points they remain relatively stable... At least they dont change every second.
legendary
Activity: 2380
Merit: 2369
April 23, 2023, 11:34:14 AM
#30
The value of bitcoin can fluctuate rapidly and dramatically, sometimes within a single day. This can create challenges for individuals and businesses that use bitcoin as a means of payment or as an investment.

For example, if someone were to receive payment in bitcoin BTC for a product or sevice, the value of that payment could decrease significantly before they have chance to exchange it for a more stable currency. Similarly, business that hold bitcoin as an investment may experience significant losses if the value of bitcoin drops suddenly.

the decentralized nature of bitcoin can make it difficult for government and regulartory agencies to monitor and control its use. This can create challenges in areas such as tax collection, money laundering prevention, and consumer protection.

Overall, while bitcoin BTC has the potential to offer many benefits ,its volatility and lack of regulation can create significant challenges for business, governments and us people around the world.
Bitcoin is still a relatively new thing, so it's not surprising at all that there is high volatility. We are still in the early stages, don't forget bitcoin is just 13 years old more or less, of course it's going to take time before it becomes more stable. I see this as an opportunity anyway because more and more people can see what bitcoin is actually able to do and the kind of value it carries. If bitcoin would have been stable at, let's say, $50/BTC no one probably would have cared about buying it.
member
Activity: 198
Merit: 10
COMBO Network ex COCOS-BCX
April 22, 2023, 10:03:07 AM
#29
The value of Bitcoin does have its ups and downs, which can definitely create challenges for those who use it for transactions or as an investment.

I think businesses and individuals need to be cautious and aware of the risks involved when dealing with such a volatile currency. Meanwhile, the decentralized nature of Bitcoin can also make it difficult for governments and regulatory agencies to control its use, leading to challenges in areas like tax collection and money laundering prevention.

hero member
Activity: 1218
Merit: 692
April 21, 2023, 11:51:13 AM
#28
Overall, while bitcoin BTC has the potential to offer many benefits ,its volatility and lack of regulation can create significant challenges for business, governments and us people around the world.
I prefer to call it an opportunity. nowadays when Bitcoin is more popular, many of those who come to buy Bitcoin also have it because of its Volatility. that's why Bitcoin trading is also a big concern right now, not just gold and stock trading.
whether or not the use of Bitcoin is appropriate, currently depends on the government that regulates and supervises Bitcoin. some allow for the use of Bitcoin as a means of payment. there are also those that only make regulations regarding asset ownership and trading of Bitcoin assets.
hero member
Activity: 2716
Merit: 552
April 21, 2023, 11:37:11 AM
#27
The volatility is not a problem for people who knows what the benefits are....

Bitcoin's volatility is not even a problem, not even once it became a problem. Instead, it is the bread and butter of all the crypto enthusiast.
Those who think Bitcoin's high volatility is some sort of a problem, are those who want to get rich overnight and wants quick and easy profit.
These same people are the ones who most likely have lost their money and wants to ride the hype.
sr. member
Activity: 378
Merit: 258
Lohamor Family
April 21, 2023, 11:28:30 AM
#26
Investment comes with profit and loss,bitcoin investors will not regret if they invest in long term. If you understand the risk in bitcoin investment and know how to tackle it,I don't see it as any challenge. The volatile nature of bitcoin makes it different  from other investment because it follows the concept of demand and supply. As for accepting bitcoin in small businesses, it boils down to the kind of business. If it is the type that needs everyday buying of items or commodity,it will be monotonous. On the other hand,if it is a business that needs once in a week supply bitcoin is good for such. Moreover,bitcoin should be as an alternative means of payment. Whereby, you feel that you want to save your profit in bitcoin. After payment, you leave your profit in bitcoin and convert the rest to fiat.
full member
Activity: 2142
Merit: 183
April 21, 2023, 11:01:18 AM
#25
The high price volatility of cryptocurrency distinguishes this market from other markets. This is the advantage and at the same time the disadvantage of bitcoin and other other crypto-currencies. People have a good chance to capitalize on price fluctuations, but it is very risky for businesses to use cryptocurrency as a means of payment. It is a good alternative to other markets. We have many financial opportunities that practically no one controls. But it is unlikely that it will be possible to reduce the price volatility of the cryptocurrency even with time. Maybe it's for the best.
legendary
Activity: 2814
Merit: 1112
Leading Crypto Sports Betting & Casino Platform
April 21, 2023, 01:48:33 AM
#24
For example, if someone were to receive payment in bitcoin BTC for a product or sevice, the value of that payment could decrease significantly before they have chance to exchange it for a more stable currency. Similarly, business that hold bitcoin as an investment may experience significant losses if the value of bitcoin drops suddenly.

Most businesses that accept Bitcoin as payment will use a payment gateway that will instantly convert it into another currency so they include Bitcoin in the payment options just to entice Bitcoin lovers to transact in their business and the Bitcoin received will not be stored long term. Meanwhile, companies that invest in Bitcoin actually expect Bitcoin volatility to continue because these institutions will have the opportunity to make big profits and or buy again when the price has dropped again.

Overall, while bitcoin BTC has the potential to offer many benefits ,its volatility and lack of regulation can create significant challenges for business, governments and us people around the world.
That challenge is preferred by Bitcoin investors, the greater the challenge, the greater the profit that will be obtained
hero member
Activity: 3094
Merit: 929
April 21, 2023, 01:45:23 AM
#23
Quote
the decentralized nature of bitcoin can make it difficult for government and regulartory agencies to monitor and control its use. This can create challenges in areas such as tax collection, money laundering prevention, and consumer protection.

This topic has been discussed a million times. You don't add anything new to the discussion. Just read the old forum thread about this topic, rather than creating new threads.
It's obvious that Bitcoin isn't the most convenient currency for payments. Bitcoin is more like a financial asset, rather than a currency.
If you are too afraid of Bitcoin's price volatility, just don't use Bitcoin. Trying to change Bitcoin protocol, in order to make the price more stable would be step in the wrong direction. The price volatility of Bitcoin has nothing to do with "regulation, money laundering prevention and consumer protection". If there is such connection, can you prove that it exists? Grin
hero member
Activity: 1470
Merit: 555
dont be greedy
April 21, 2023, 01:31:57 AM
#22
The concept of bitcoin's volatile nature makes it impossible for those who think similarly not to invest in it. Perhaps you are unaware that the price fluctuation makes it a risky investment to make. You only stated the disadvantage when the price lowers, but what if the price rises? Would you still not take the profit or would you prefer to collect the money as it was before the price rise? If you do not want any of this, you can easily convert your bitcoin to a stable coin when you receive it as payment.
The real issue at hand is why sellers fuss over the BTC price after receiving payment and it matches the agreed amount. If a seller is not prepared for Bitcoin's volatile nature, then they are merely taking advantage of blockchain technology. This means the seller is not fully equipped to accept payments using Bitcoin, with all the characteristics it possesses.

When a product is priced in x BTC, the buyer only needs to pay the equivalent amount in x BTC. The buying and selling transaction should proceed smoothly without any hiccups. Ideally, there should be no thought given to the exchange rate between BTC and FIAT during the transaction. This is because the price tag of the item is already in BTC, which is also a digital currency.





legendary
Activity: 3514
Merit: 1963
Leading Crypto Sports Betting & Casino Platform
April 21, 2023, 01:27:29 AM
#21
The volatility is not a problem for people who knows what the benefits are.... and also how to use that to their benefit. A lot of people do not care about pseudo anonymity and centralization, so they use payment processors to bypass the influence of Bitcoin's volatility. (All Bitcoin transactions are immediately converted to Fiat currencies)

We have to accept that governments will protect Fiat currencies and Banks, because they benefit from that. (Banks help them to monitor transactions and they have control over the supply of fiat currencies)  Roll Eyes
sr. member
Activity: 1274
Merit: 293
April 21, 2023, 01:20:27 AM
#20
That's your problem, not ours, as most of us use bitcoin as an investment rather than a means of payment. Look at its positive side instead of digging through its limitations because there is no such thing as perfect in this world. If volatile bitcoin is not suitable as a means of payment then don't use it for that purpose, while fiat is doing a great job at it.
Frankly, I haven't seen someone use bitcoin as a means of payment besides Laszlo, that might even be the reason why people don't use bitcoin like a hard currency, they are thinking too much about the what ifs which is reasonable given how volatile bitcoin is and the prices can change anytime.
legendary
Activity: 1176
Merit: 1005
crunck
April 21, 2023, 01:16:52 AM
#19
That's your problem, not ours, as most of us use bitcoin as an investment rather than a means of payment. Look at its positive side instead of digging through its limitations because there is no such thing as perfect in this world. If volatile bitcoin is not suitable as a means of payment then don't use it for that purpose, while fiat is doing a great job at it.
sr. member
Activity: 1106
Merit: 391
April 21, 2023, 12:34:13 AM
#18
The value of bitcoin can fluctuate rapidly and dramatically, sometimes within a single day. This can create challenges for individuals and businesses that use bitcoin as a means of payment or as an investment.

If the business is not too big, I don't think it will be a problem using Bitcoin as payment because its fluctuating price will not really affect the payment value, especially if the transaction is exchanged directly through an exchange. But it is true that the challenge is when Bitcoin is used in transactions with a larger value, it may affect the price of Bitcoin significantly. But who else uses Bitcoin for transactions of enormous value? I think they are very stupid to use Bitcoin for large value transactions.
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