CryptoCurrency or CryptoAsset - page 3.

Kronos21

sr. member

Activity: 434

Merit: 255

Quote from: contentboxuser on March 03, 2018, 07:39:13 AM

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable. So they are more like a cryptoasset.
Will anybody use bitcoin to pay for a coffee now?
USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.
Is there any solution to have a decentralized solution and at the same time with a stable value?
I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

What is your understanding of a stable currency? Why do you think that bitcoin is not a stable currency? Maybe this is because we have to determine its price against the dollar? After bitcoin will be used to buy goods in the store, the price of coins will become more stable. Now the speculators have endless possibilities because all exchange cryptocurrency for Fiat.

Zandar

full member

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Do you think fiat is stable? It took them decades and decades for it to appear stable, it is still not stable but it's inflation has been made smaller and smaller. Crypto is an entire different thing, you cannot expect coins in crypto to remain stable so it can be used for a cup of coffee etc. You can only do that by keeping up with its price and accept payments on current worth. But it might be best to create a crypto that always remains $1 in value, so people can use that for coffee etc, and later on exchange that into fiat or any other crypto like BTC. This way it can be used in the real world and cryptos ups and downs will have no effect upon it either.

fiulpro

hero member

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I do think that any decentralized exchange will have very high chance or being unstable rather than stable.
Also offcourse cryptocurrency is not something that one can use for the payment since the value goes up and down a lot and... Developing a system..where the price is..in accordance with the current price and converting it into Bitcoins and then giving correct information.. a software like that is still under development..after that only we would be able to decide if thats a good solution or not ...but it's been so many years and we haven't seen anything like that on a larger scale so we need to wait and see...first

jakagintiri

member

Activity: 420

Merit: 10

www.coinxes.io

Quote from: contentboxuser on March 03, 2018, 07:39:13 AM

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable. So they are more like a cryptoasset.
Will anybody use bitcoin to pay for a coffee now?
USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.
Is there any solution to have a decentralized solution and at the same time with a stable value?
I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

it seems very difficult to use as a means of payment, big price changes can not be stable for long term unlike the USD is always stable does not change much with other currencies, bitcoin is better used as a digital asset. Hopefully there is a suitable crypto.

bituperio

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Activity: 208

Merit: 13

TRUSTED CARS ICO

Quote from: contentboxuser on March 03, 2018, 07:39:13 AM

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable. So they are more like a cryptoasset.
Will anybody use bitcoin to pay for a coffee now?
USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.
Is there any solution to have a decentralized solution and at the same time with a stable value?
I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

Nothing is really "stable", the price of coffee changes and nobody argues that the dollar is not stable in relation to the coffee. Stability in a way is linked to being backed up by real economies.

donpepot

newbie

Activity: 70

Merit: 0

Quote from: micheal wang on March 03, 2018, 08:13:14 AM

So what is your solution for bitcoin to have a stable price? For decentralized systems it is very difficult to manage a price or even highly unlikely. But anyway I agree with you if bitcoin works more as cryptoasset not as cryptocurrency, because it happens to me, prefer to make it as an investment and trading tool in appeal for a payment.

There several misconceptions about the terms “digital assets” and “cryptocurrencies”. You see the two words used interchangeably but that is technically not correct. In every way, a cryptocurrency can be regarded as a digital asset but substituting the latter for the former is more often than not wrong. There are some attributes that are quite differentiating about the meaning of a digital asset and what should be referred to as a cryptocurrency. But still I'll go with cryptocurrency because its the best.

waskaplung

newbie

Activity: 70

Merit: 0

Quote from: micheal wang on March 03, 2018, 08:13:14 AM

So what is your solution for bitcoin to have a stable price? For decentralized systems it is very difficult to manage a price or even highly unlikely. But anyway I agree with you if bitcoin works more as cryptoasset not as cryptocurrency, because it happens to me, prefer to make it as an investment and trading tool in appeal for a payment.

Cryptocurrencies because represent a deeply flawed form of money, but policymakers should be careful not to crack down too hard on “crypto-assets,” Mark Carney ...

tomahawk9

hero member

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Cats on Mars

Quote from: contentboxuser on March 03, 2018, 07:39:13 AM

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable

Wrong. They are suitable for payments, you can actually buy stuff (a house, a t-shirt, digital goods, etc) using cryptocurrencies, though only a handful of cryptos are being accepted by merchants.

Quote from: contentboxuser on March 03, 2018, 07:39:13 AM

Will anybody use bitcoin to pay for a coffee now?

With how cheap the fees have been over the past few weeks (1-10 Sat/b), yes, everyone can pay for a coffe now.

Quote from: contentboxuser on March 03, 2018, 07:39:13 AM

USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.

USDT is a ticking time bomb, I wouldn't count on such a shady cryptocurrency as a a solution for anything.

Quote from: contentboxuser on March 03, 2018, 07:39:13 AM

I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

Again, cryptocurrencies are being used as payments by many people around the globe even though they are highly volatile. Also, it would be really difficult to create a "stable" cryptocurrency since, one way or another, it would be part of the high volatility and movements of the crypto market.

Tyrantt

hero member

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Need some spare btc for a new PC

Because if bitcoins price going up and down drastically, it's got the attention of big investors and when people treat it as an asset more than a currency (not saying that is not used as a currency at all, just not as much as it should be), it's bound to continue on that path and solidify as an asset. That's why I don't think we'll ever see BTC used as an everyday currency.

BillCoin

sr. member

Activity: 476

Merit: 259

It's not like they are not suitable for payments.
Thing about it like that, the US dollar is also not stable against other currencies, but we use USD in the USA because that's the only currency, we don't really mind what is the price of the USD against other currencies while we use it.
Same goes with bitcoin, if everybody uses the currency then prices will be determined in bitcoin only, and not in bitcoin converted to USD, so it won't be any problem.
Bitcoin is still young and that's the reason it's price is pretty much crazy, it's hard to determine how much it's actually worth.

micheal wang

jr. member

Activity: 212

Merit: 3

So what is your solution for bitcoin to have a stable price? For decentralized systems it is very difficult to manage a price or even highly unlikely. But anyway I agree with you if bitcoin works more as cryptoasset not as cryptocurrency, because it happens to me, prefer to make it as an investment and trading tool in appeal for a payment.

contentboxuser

newbie

Activity: 83

Merit: 0

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable. So they are more like a cryptoasset.
Will anybody use bitcoin to pay for a coffee now?
USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.
Is there any solution to have a decentralized solution and at the same time with a stable value?
I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

Topic: CryptoCurrency or CryptoAsset - page 3. (Read 465 times)