Does everyone want bitcoin to be stable in price? - page 7.

Rengga Jati

hero member

Activity: 2072

Merit: 656

royalstarscasino.com

Quote from: GreatArkansas on October 03, 2022, 06:16:53 PM

Quote from: bbc.reporter on October 02, 2022, 10:53:04 PM

(....)
I ask this because stability makes bitcoin become a good store of value and medium of exchange. Volatility makes it good for trading and speculation.

Do you mean of being stable is like stablecoins we have like USDC/USDT etc stablecoins we have which are pegged to some fiat currency?
If yes, it does not make sense because Bitcoin will only have a specific supply will exist in the world, and the demand and supply will be compromised.

Moreover, I am also not sure what all investors will expect this, especially the ones who are long-term holders. They will not expect Bitcoin to be stable, moreover like stablecoins. Simply, I am sure that One of the interesting things is that Bitcoin can be a very worthy investment, especially for a long-term investment with high profits.

Quote from: awik p on October 04, 2022, 01:46:41 AM

what really makes bitcoin interesting is its fluctuation, with so many stories of people getting rich in an instant, so it attracts a lot of newcomers to the crypto world.

I do agree with this, one of the interesting things about Bitcoin besides its supply and demand is its fluctioation. WItht he fluctuations and volatility,many people can earn money, moreover their fluctuating price during the bearish market to bullish era, this leads many people to eran veyr high profits.

Agbe

legendary

Activity: 1022

Merit: 1341

Quote from: bbc.reporter on October 02, 2022, 10:53:04 PM

I was reading some of the replies in of @mr_jk's thread when he asked what will happen if bitcoin's price became stable?

The replies were unexpected hehehe. Much of them argued why or how can bitcoin be stable? This makes me ask the question do much of the holders of bitcoin want the price to be stable or do they really want it be volatile? I ask this because stability makes bitcoin become a good store of value and medium of exchange. Volatility makes it good for trading and speculation.

OKay. If you want bitcoin to be stable, what amount do you think it should be before the stability? From your narration, your question has been answered from mr_jk's thread , bitcoin wasn't meant to be stable that was why when the coin was created, it was $0.0 and from there it grows to this level. If bitcoin was created to be stable the creator of bitcoin (Satoshi) would given a particular figure and left it like that. Example. 21 BTC that is all. no movement and every thing just stable like that. And if bitcoin is stable, the market will not be interested. The rising and falling of the market makes the trading more interesting. Bitcoiners buy it when it is low (bear market), and sell it when it is high (bull market), these the two major elements that make bitcoin trading attractive. Therefore stability should be mention in bitcoin space.

MinMan

full member

Activity: 628

Merit: 154

Quote from: pooya87 on October 03, 2022, 12:29:47 AM

Quote from: bbc.reporter on October 03, 2022, 12:16:49 AM

@pooya87. Stable in value against what, however? Where would we get the basis for bitcoin's value?

It is hard because value itself is mostly measured in terms of fiat and if we measure it in terms of anything else (gold, a barrel of oil, bag of potato, ...) that too can be volatile. But I suppose the best way is to measure it in terms of a combination of goods and services instead of fiat.

For example we can say bitcoin value is stable if your cost of living is 1BTC and remains that way regardless of what happens to the price ($1k to $10k to $100k to $1000k).

I do basically just that when calculating how much I own. I calculate based on a bigmac, and how much big mac worth of coins I own. That way I could calculate if I am getting any richer or not. Obviously this past 1 year I got poorer, even though I accumulated more and more, I have less big mac worth compared to last year, but it is obvious that we are talking about a bear market period and this would happen.

However, I am guessing that we would have a good return and then I would have worth more of it soon. If you calculate it based on just one thing, something common, then you would be able to calculate it a lot easier for sure.

rby

hero member

Activity: 742

Merit: 611

Brotherhood is love

Quote from: Stalker22 on October 04, 2022, 09:23:51 AM

Quote from: rby on October 03, 2022, 05:37:19 PM

Quote from: Stalker22 on October 03, 2022, 03:36:59 PM

. Bitcoin can become stable in value as a store-of-value, and it can do so without having a stable price.

I think that the Bitcoin market is still too young to be able to make such a conclusion.

For example, look at the gold price chart over the past few years:

Now imagine for a moment that gold is also a young investment asset and that there is no history to refer to, would you consider the value of gold to be stable? Would you consider it a good store-of-value investment?

If gold is new and with the price chart that is displayed, I would say that the value of gold is not stable. Though from 2017 to 2019 the value was stable but something happened 2020 that shot the price up high and it consolidated till 2022.
For the question of considering it as a store of value, I would consider it as a store of value because the ~~value~~ price keeps going up and not going down.

Stalker22

legendary

Activity: 1526

Merit: 1359

Quote from: rby on October 03, 2022, 05:37:19 PM

Quote from: Stalker22 on October 03, 2022, 03:36:59 PM

. Bitcoin can become stable in value as a store-of-value, and it can do so without having a stable price.

Your explanation is making sense, and I understand the difference between price and value. Some products are over priced but undervalued which means a customer can pay high and get less value.
With respect to your last statement, that bitcoin can become stable in value without being stable in price.
I know that bitcoin price is not stable, are you also saying that bitcoin value is also not stable for now?

I think that the Bitcoin market is still too young to be able to make such a conclusion.

For example, look at the gold price chart over the past few years:

Now imagine for a moment that gold is also a young investment asset and that there is no history to refer to, would you consider the value of gold to be stable? Would you consider it a good store-of-value investment?

PeRo

hero member

Activity: 1040

Merit: 538

Defend Bitcoin and its PoW: bitcoincleanup.com

Most people use Bitcoin as an asset rather than a currency so I don't think that would be good for people who invest in it. But then, people who use it mostly for transfering money would probably like it to have a steady exchange rate. It depends mostly on who you ask but the community has far more investors than just normal users so it's obvious which one is more desirable(of course, it is mostly wanted that Bitcoin only goes up in price).

As I said in the thread quoted by OP, it's better to use cryptos that are tied to fiat if you want a stable exchange with all the other benefits of a cryptocurrency.

Jody.Drummer

hero member

Activity: 1708

Merit: 566

Leading Crypto Sports Betting & Casino Platform

Quote from: awik p on October 04, 2022, 01:46:41 AM

Quote from: EdenHazard on October 03, 2022, 06:26:05 PM

There will always a pros and cons regarding this.

Especially the volatile thing that ones taking advantage on it while the other like the newcomer who don't really understand how this thing work could become a victim of these what so called 'volatile' ... they might consider it as a 'disaster' once they got themselves trapped and in a huge loss.
Just let it be , bitcoin being stable is the odd & worst idea that crypto enthusiasts might heard.

what really makes bitcoin interesting is its fluctuation, with so many stories of people getting rich in an instant, so it attracts a lot of newcomers to the crypto world. Unfortunately, most of these people are oriented to hope for profit in a short time, but in the end they are disappointed, because they themselves prioritize their ambitions, not their knowledge. therefore it will not be interesting if bitcoin will be stable, if it is possible to reduce volatility, it might happen, when most countries have adopted it legally

Those who are disappointed are people who aim to become rich in an instant, when the real investment goal is not that. Just imagine if investment really makes you rich, then everyone will flock to invest, whatever the form of investment. So do not be surprised if someone is disappointed because the goal will not be achieved (will not be achieved in such a short time).
And if I see bitcoin becoming stable it seems I will feel strange seeing the movement. Because one of the things that makes it fun is to see price movements that are so high. Lol. Although definitely feel sad when you see the price is below.

awik p

full member

Activity: 1526

Merit: 111

Pepemo.vip

Quote from: EdenHazard on October 03, 2022, 06:26:05 PM

There will always a pros and cons regarding this.

Especially the volatile thing that ones taking advantage on it while the other like the newcomer who don't really understand how this thing work could become a victim of these what so called 'volatile' ... they might consider it as a 'disaster' once they got themselves trapped and in a huge loss.
Just let it be , bitcoin being stable is the odd & worst idea that crypto enthusiasts might heard.

what really makes bitcoin interesting is its fluctuation, with so many stories of people getting rich in an instant, so it attracts a lot of newcomers to the crypto world. Unfortunately, most of these people are oriented to hope for profit in a short time, but in the end they are disappointed, because they themselves prioritize their ambitions, not their knowledge. therefore it will not be interesting if bitcoin will be stable, if it is possible to reduce volatility, it might happen, when most countries have adopted it legally

dansus021

copper member

Activity: 2156

Merit: 983

Part of AOBT - English Translator to Indonesia

well I would aggree that the bitcoin price is volatile if bitcoin stable you can't earn from it

if you can tackle the volatility you can be rich and the other hand stablecoin is already here

bbc.reporter

legendary

Activity: 3010

Merit: 1460

Quote from: pooya87 on October 03, 2022, 12:29:47 AM

Quote from: bbc.reporter on October 03, 2022, 12:16:49 AM

@pooya87. Stable in value against what, however? Where would we get the basis for bitcoin's value?

It is hard because value itself is mostly measured in terms of fiat and if we measure it in terms of anything else (gold, a barrel of oil, bag of potato, ...) that too can be volatile. But I suppose the best way is to measure it in terms of a combination of goods and services instead of fiat.

For example we can say bitcoin value is stable if your cost of living is 1BTC and remains that way regardless of what happens to the price ($1k to $10k to $100k to $1000k).

Agreed, it is very hard and very hard to use bitcoin as a store of value and a medium of exchange because of volatility. If you run a business, you can accept bitcoin, however, it would not be very good to hold them because of bitcoin's volatility against the currencies that are being used to pay for the business' expenses. If the argument is for the business owner to speculate on the price, that would be very head shaking if the arguers want the business owner to also become a speculator. It might bankrupt him.

Quote from: hosseinimr93 on October 03, 2022, 02:01:47 AM

Quote from: Jeger.Kiting on October 03, 2022, 01:53:57 AM

In contrast to fiat, fiat is always stable because it is used as a legal tender and is always controlled by a centralized government, so fiat always remains stable at all times.

Why do you thing fiat has been always stable?
In the united states, people have to pay around 8% more for their living costs compared to last year. There are many countries even with much higher inflation rates.
Fiat has been never stable in value.

However, for the holder who has bought bitcoin when it was more than $50k, the reduction in his wallet's value has reduced by more than 50%. What if he presently needs the money because of an emergency?

Gallar

sr. member

Activity: 812

Merit: 365

if seen from the facts, there may be many people who want the bitcoin price to soar,
because it is undeniable, indeed human,

but not a few people who are not greedy just want a stable bitcoin, in the sense of

when it goes down not too down,
and when it goes up it doesn't go up too much,

maybe people who think like that think it's better, because many people get hurt or lose because of greed.

a greedy person will never be satisfied, even though he already has a lot of wealth,

but the real rich,
who knows when to enjoy the treasure .

EdenHazard

legendary

Activity: 2674

Merit: 1048

There will always a pros and cons regarding this.

Especially the volatile thing that ones taking advantage on it while the other like the newcomer who don't really understand how this thing work could become a victim of these what so called 'volatile' ... they might consider it as a 'disaster' once they got themselves trapped and in a huge loss.
Just let it be , bitcoin being stable is the odd & worst idea that crypto enthusiasts might heard.

GreatArkansas

legendary

Activity: 2506

Merit: 1394

Quote from: bbc.reporter on October 02, 2022, 10:53:04 PM

(....)
I ask this because stability makes bitcoin become a good store of value and medium of exchange. Volatility makes it good for trading and speculation.

Do you mean of being stable is like stablecoins we have like USDC/USDT etc stablecoins we have which are pegged to some fiat currency?
If yes, it does not make sense because Bitcoin will only have a specific supply will exist in the world, and the demand and supply will be compromised.

And if you mean the price being stable like only small pumps only or small dumps or less volatile, then for me it is much better. Maybe in the future, especially once the market will become more like doubled/triple and more than, thats' the time we can experience this.

trendcoin

legendary

Activity: 2240

Merit: 1131

DGbet.fun - Crypto Sportsbook

Quote from: bbc.reporter on October 02, 2022, 10:53:04 PM

I was reading some of the replies in of @mr_jk's thread when he asked what will happen if bitcoin's price became stable?

The replies were unexpected hehehe. Much of them argued why or how can bitcoin be stable? This makes me ask the question do much of the holders of bitcoin want the price to be stable or do they really want it be volatile? I ask this because stability makes bitcoin become a good store of value and medium of exchange. Volatility makes it good for trading and speculation.

The Dollar/Euro parity was preferred by traders even when it was not very volatile. With leveraged trading, desired trade can be achieved in units with low volatility. There is a risk close to margin trading in cryptocurrencies today. That's why it gets a lot of attention from newbies who want to make easy and fast money. It's been a bit of a messy post, but all in all, if the Bitcoin price stabilizes one day, those looking for trade and speculation can try their luck with leveraged Bitcoin trades. Thus, those who want price stability and those who seek excitement can be happy at the same time. :)

TelolettOm

hero member

Activity: 2086

Merit: 553

Leading Crypto Sports Betting & Casino Platform

I don't think we can make Bitcoin have a stable price since no one controls Bitcoin price. Bitcoin price will always fluctuate in the market based on supply and demand. Anyway, it becomes no longer interesting if the Bitcoin price is stable, investors have no chance to gain big profits anymore. I suspect every investor will move their funds from Bitcoin if the Bitcoin price is likely to be stable. It will be a disaster for Bitcoin investment..

Questat

hero member

Activity: 2982

Merit: 610

Quote from: Kakmakr on October 03, 2022, 01:19:42 AM

The majority of the people will want volatility, because they are speculators and hoarders ...seeking profits for their investments. They do not care that retailers and shops that accept Bitcoin as a payment option, wants less volatility.

Yes, it was a big opposite if you are a retailer and those who accept Bitcoin as payment. But as traders and investors, this is the reason why they are here and living with this as the volatility of its price makes them more profitable.

Quote

Some of the early Bitcoiners will tell you that low volatility are good for Bitcoin as a "Currency" ...because shops and customers does not want to deal with extreme volatility when they pay for goods and services. (Just imagine how shops have to display their prices for their goods... if the price goes up and down every second.) Roll Eyes

But I think, we can't change how the market looks, and the volatile nature of Bitcoin will even more volatile as the trade volume also grows. Whether we like it or not, this is what really happens in a decentralized market. And I understand why only a few people have the courage to accept Bitcoin as payment and we can't please others to do as well.

m_nief

sr. member

Activity: 546

Merit: 261

Moonbet.io

What for trading in cryptocurrency if bitcoin got stable? I sure all cryptocurrency coins not worth for investing and trading trough bitcoin have been stable, not changed price if bitcoin stable because movement from all altcoin price depending with bitcoin. I am glad with changed price of bitcoin up and down because time and chance for trading in altcoin, maybe if bitcoin have been stable not space not only for spot trading but also future trading will close. Maybe have usdt as stable coins and seem enough, doesn't need with Bitcoin got to be stable because give bigger impact for all cryptocurrency coins later.

rby

hero member

Activity: 742

Merit: 611

Brotherhood is love

Quote from: Stalker22 on October 03, 2022, 03:36:59 PM

Quote from: rby on October 03, 2022, 02:11:14 PM

Quote from: pooya87 on October 02, 2022, 11:48:34 PM

We want bitcoin to become stable in value not in price because if its price becomes stable that means its value is dumping over time since fiat currencies are always dumping and a stable price means losing value alongside fiat.

I am having had time understanding your statement, can you do me a favour by throwing more lights on this statement of yours. How can bitcoin become stable in value and not in price.
Is price not the value and vice versa?

No, price and value are not the same thing. For example, a loaf of bread always has the same value (it can feed a certain number of people) but its price changes over time due to inflation or other economic factors such as supply and demand.

. Bitcoin can become stable in value as a store-of-value, and it can do so without having a stable price.

Your explanation is making sense, and I understand the difference between price and value. Some products are over priced but undervalued which means a customer can pay high and get less value.
With respect to your last statement, that bitcoin can become stable in value without being stable in price.
I know that bitcoin price is not stable, are you also saying that bitcoin value is also not stable for now?

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Does everyone want bitcoin to be stable in price? No. In fact, I would suggest that nobody wants the price to be stable. Especially those who are buying the tops trying to get rich quick overnight. Most people, if not all, expect Bitcoin to continue to be unstable as they think they will trade their way to riches, or buy some and get rich. It's hard to do either of those things with a stable Bitcoin. The entire Bitcoin value proposition relies on a set number of BTC in existence so that it will appreciate against fiat currencies. A stable Bitcoin would be a failed Bitcoin.

Marvell1

legendary

Activity: 2408

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Although bitcoin is a cryptocurrency whose technology and features are superior to that of fiat and gold or other assets, its utility offers and also the privacy that bitcoin has. Have to say these make bitcoin great, well worth using compared to fiat or gold. But honestly, I invest in bitcoin for profit so I wont be able to make profit if bitcoin become stable in price. As an investor I don't want this to happen, I like its high volatility that no other asset class has, the higher the volatility the higher the return. I believe many others will think like me, if bitcoin becomes stable in price then everything will be tasteless.

Topic: Does everyone want bitcoin to be stable in price? - page 7. (Read 1794 times)