Could a coin price be locked in place? - page 5.

Lanatsa

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Quote from: DeadCoin on March 15, 2019, 04:48:06 PM

Quote from: Paycheck on December 16, 2018, 10:39:13 PM

I'm not talking about these supposed stablecoins like Tether, but normal coins. Let's say an agreement was made among all the major Bitcoin exchanges. Starting January 1, a Bitcoin is worth $5000 USD, plain and simple, and that's it. The price never goes higher or lower. A Bitcoin is $5000 today, tomorrow, next week, next month, etc. NOTHING changes it. Not a war, not the economy, not Trump getting re-elected (which he will, he's doing a great job), nothing.

I wonder if that could be done and what the effect would be.

One effect is that I wouldn't be buying BTC, because with no price volatility, how could I ever make a profit? But one good thing is that normal companies may be more inclined to use Bitcoin, since its price is now fixed and does not change.

I dont think its possible. It will not seriously come up in the market if the coin just stays in a place. I understand USDT marketcap increases day by day but too many coins with the same features will not bring the expected results. Crypto's demand just depends on its fluctuations.

We might see fluctuations or increase on stable coins but the margin of movement isnt really that recognizable to be volatile thats why they are called stable coins.They do have different usage when it comes to
overall market which using it up to make conversions if the market has a horrendous situation where you do like to stabilize your crypto holding to fiat holding.

Volatility is always been the number one thing on where most people prefer because with this it can really give out chances to get huge profits but well in return it do give higher risk on losing too.

DeadCoin

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Quote from: Paycheck on December 16, 2018, 10:39:13 PM

I'm not talking about these supposed stablecoins like Tether, but normal coins. Let's say an agreement was made among all the major Bitcoin exchanges. Starting January 1, a Bitcoin is worth $5000 USD, plain and simple, and that's it. The price never goes higher or lower. A Bitcoin is $5000 today, tomorrow, next week, next month, etc. NOTHING changes it. Not a war, not the economy, not Trump getting re-elected (which he will, he's doing a great job), nothing.

I wonder if that could be done and what the effect would be.

One effect is that I wouldn't be buying BTC, because with no price volatility, how could I ever make a profit? But one good thing is that normal companies may be more inclined to use Bitcoin, since its price is now fixed and does not change.

I dont think its possible. It will not seriously come up in the market if the coin just stays in a place. I understand USDT marketcap increases day by day but too many coins with the same features will not bring the expected results. Crypto's demand just depends on its fluctuations.

reflector

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If you are locking the cost at one dimension conflicts with the rule of cryptocurrency, as it conveys component of control to it, for this situation the trades will control it. What's more, without a doubt there will be trades that can't help contradicting this position, they will push at their very own cost and so forth and so forth. and so forth.

TravelMug

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Quote from: Brunusmagnus on February 25, 2019, 06:23:57 PM

it doesn't make any sense, its' simply a contraddiction.

Yes, maybe the OP raised that question because we are in a bear market and almost everyone is losing money that's why he has this idea, but anyways, it won't work simply because volatility is part of crypto so to call it contradiction is an understatement.

Well there's a lot of stable coins out there. If you're a crypto enthusiast and wanted to hedge then that is your best option to say the least.

Brunusmagnus

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it doesn't make any sense, its' simply a contraddiction.

SiDtHeBeSt

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Never had such an question ever before but the answer to your question is a clear no. C'mon it is common sense that only those commodity's have a fixed price where someone or an authority decides the price. When it comes to Bitcoin there's no such authority who sets a fixed price for ,it also goes for other cryptocurrenies as well.

FIFA worldcup

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Quote from: Willitivity on January 02, 2019, 01:57:49 PM

Bitcoin can never be at a stable price. Since people still trade cryptocurrencies, there can never be a time when any crypto would be stable, that would mean no need for trading or holding since there is no appreciation in value. The volatility of cryptocurrencies is one feature that can never be wiped off.

This instability of bitcoin has grown even further with the introduction of Leveraging platforms like Bitmex. Such platforms cannot work until there is a lot of volatility in bitcoin prices.
Only strong regulations can make bitcoin and altcoins stable, but i think it is unlikely to happen.

Taki

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This is utopia. If bitcoin will turn stable, even back to 20000 $ soon it will loose its popularity and become worthless. People will sell it and there will be no one who will wish to buy it per such high price.

palle11

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From the body of your post, you have answered your questions. I tell you bitcoin wasn't made to be a stablecoin, that is not the role. For any reason that it becomes stable, then its purpose is defeated.

By the way, are fiat stable ? They are not. They fluctuate gradually.

Quote from: Paycheck on December 16, 2018, 10:39:13 PM

not Trump getting re-elected (which he will, he's doing a great job), nothing..

I wonder if you are trying to converse a re-election for triumph via this platform Grin

Greenkarki

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Quote from: Paycheck on December 16, 2018, 10:39:13 PM

I'm not talking about these supposed stablecoins like Tether, but normal coins. Let's say an agreement was made among all the major Bitcoin exchanges. Starting January 1, a Bitcoin is worth $5000 USD, plain and simple, and that's it. The price never goes higher or lower. A Bitcoin is $5000 today, tomorrow, next week, next month, etc. NOTHING changes it. Not a war, not the economy, not Trump getting re-elected (which he will, he's doing a great job), nothing.

I wonder if that could be done and what the effect would be.

One effect is that I wouldn't be buying BTC, because with no price volatility, how could I ever make a profit? But one good thing is that normal companies may be more inclined to use Bitcoin, since its price is now fixed and does not change.

You have the answer. And why should a company go with bitcoin when it is stable. They can choose either dollar or other currencies existing. The usage of crypto currencies volume would be zero and the moto behind inventing bitcoin goes for a toss. As crypto currencies are fluctuating in nature and able to gain profits, everyone is behind it.

goaldigger

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This cant be. The price is never been locked on the same value forever. You will notice that even bitcoin stays for a particular margin, it still moves up and down but only little by little. Its the volatility that it makes it that way. It is such that, its not that volatile at the moment. Nothing to bother.

vintages

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Quote from: slocker on February 21, 2019, 10:43:34 AM

Probably can be but this is more to exchange or to individuals who hold them. But can remember when I saw this that some coin is locked or to be precise that exchange locked it. Know that they delete or cancel ones that dont have good margin or no one is trading with them.

I do say this is happens more by from developers than to exchanges though. I have seen many developers do this, they do this especially when they just release their coin to the market and don't want bounty hunters to dump on them. It's another way of them protecting their coin price.

UserU

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Anything on the market is traded freely, so its never possible.

The whales are always dominant.

Aikidoka

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Quote from: Paycheck on December 16, 2018, 10:39:13 PM

I'm not talking about these supposed stablecoins like Tether, but normal coins. Let's say an agreement was made among all the major Bitcoin exchanges. Starting January 1, a Bitcoin is worth $5000 USD, plain and simple, and that's it. The price never goes higher or lower. A Bitcoin is $5000 today, tomorrow, next week, next month, etc. NOTHING changes it. Not a war, not the economy, not Trump getting re-elected (which he will, he's doing a great job), nothing.

I wonder if that could be done and what the effect would be.

One effect is that I wouldn't be buying BTC, because with no price volatility, how could I ever make a profit? But one good thing is that normal companies may be more inclined to use Bitcoin, since its price is now fixed and does not change.

I don't think that it will be a good idea if bitcoin have a stable price which it's impossible, because the price is depend of the demand and the supply, this volatility of the price is must, else it will be no trading and people can't earn nothing. In general, it's better if the price is volatile like that, so people can invest and trade and do whatever they want. That's right, it's a bit risky because you can lose, but this is how the market afloat.

Lanatsa

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Quote from: jrrsparkles on February 21, 2019, 04:03:34 AM

An exchange or the people who hold huge amount of bitcoin and want to sell all of them at certain priceirrespective of the current market value then yes it is possible but who is going to buy for a fixed price when the actual current prices will be lesser than that and if the price increases more the user who selling it for that price is real stupid. Cheesy

It do really just matter with supply and demand.So, there would always be sellers and buyers with this market which means a volatility in price.No one can holds or lock the price of a certain coin if they wanted to unless if no one trades then its possible but every market has 2 parties involve and do have the aim on making money.Therefore, if everyone sees no volatility then they wont really tend to engage with it since they do know that they cant really make any profits with it.

slocker

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Probably can be but this is more to exchange or to individuals who hold them. But can remember when I saw this that some coin is locked or to be precise that exchange locked it. Know that they delete or cancel ones that dont have good margin or no one is trading with them.

bitmedia

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Yes, only if it is not traded Roll Eyes

Ezenwanyi1

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The truth is that bitcoin will no longer be bitcoin without it's feature of volatility.
The market will not even be interesting again, as it will just be like paper money.
I am sure that so many would even leave the Cryptocurrency space should this happen because they stand no chance of making profit just like you pointed out.

jrrsparkles

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An exchange or the people who hold huge amount of bitcoin and want to sell all of them at certain priceirrespective of the current market value then yes it is possible but who is going to buy for a fixed price when the actual current prices will be lesser than that and if the price increases more the user who selling it for that price is real stupid. Cheesy

qwertyup23

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If a coin stabilizes its price, it contradicts its very purpose since what dictates the price are the demand and supply of each coin in the market. In addition, most individuals acquire and purchase cryptocurrencies to take advantage of their volatility for short or long-term investments. Unlike any conventional investments present in the market, mostly are centralized and governed by each agency which foresees the transactions.
The purpose on why bitcoin skyrocketed was due to the fact of its high-volatility which can garner large amounts of profits in a short amount of time compared to stocks, bank deposits, gold investments, etc.

Quote from: sunsilk on December 27, 2018, 10:00:20 PM

The price of bitcoin won't be locked as you are thinking. Although that's just an example that plays to your mind but let's get into reality that bitcoin won't be volatile anymore if there's no motion for its price.

No one asks you to buy bitcoin if it has "stable" price at $5,000 or same that never moves. The purpose of bitcoin is still there but its value is going high as time passes by and it won't change.

Another thing to note is its scarcity. Many individuals compare bitcoin to gold and view it as 'digital-gold' due to its limited number of amount in the market. There are many factors to consider about the volatility of cryptocurrencies especially when government agencies or large investment companies intervene with the said processes and spread false news.

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