I have always wanted to ask this about bitcoin - page 2.

pawanjain

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Quote from: KiaKia on February 14, 2023, 07:34:56 AM

Will people still use or buy bitcoin till today if all it has to offer is the decentralized characteristic only, I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

if all it has to offer is moving money around and no volatility, will Bitcoin be your favorite still? Drop your thoughts and let's see.

I am thinking that the Volatile is what makes bitcoin a must have for almost everybody, think I am wrong?

And people won't see a reason to buy Bitcoin if there were no Volatility from day one.

At present, most of the people buy bitcoin because of it is being utilized as a store of value.
The price keeps changing, increasing over the long term which makes people to actually HOLD it for a longer term.
IF bitcoin was somehow stable, which it cannot be since it is decentralized, then people would still buy it and make transactions but just that they won't be holding it for longer terms.
They would be using it for day to day transactions which is the real motive why bitcoin was actually created.

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Quote from: KiaKia on February 14, 2023, 07:34:56 AM

I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

Apart from the prospects of benefitting from bitcoins through investments, there are other uses of bitcoins that still stand out and provide massive benefits. The volatility that people are taking advantage of has been the number one reason why some people started bitcoins, but there are still individuals that still engage the other function of bitcoin, the transactionary function of bitcoin for which it was originally intended for. To these individuals, even if bitcoins stop being volatile, it will not stop them from being interested in it.

Ryu_Ar1

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When indeed the coin is stable it means there is no Decentralization there and of course there will be no volatility and not bitcoin.
I think a question like this doesn't make sense because even if we make assumptions, something like this obviously won't happen except when the coin changes like the current stable coin.
Basically people want to control their own finances so having bitcoin is definitely an option, but when it's not there then what's the point of talking about the same thing for other people's regulated coins.

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Quote from: KiaKia on February 14, 2023, 07:34:56 AM

Will people still use or buy bitcoin till today if all it has to offer is the decentralized characteristic only, I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

What is the point of it being bitcoin if it's stable in price without characteristics of investment? I think we have other stablecoins that possess decentralized characteristics like the Maker Dao stable coin(DAI), the decentralization is limited to the Ethereum foundation though. There is no point for bitcoin to exist if doesn't have those characteristics, Perhaps you should check the Bitcoin whitepaper for some reference or even learn more about bitcoin, it will help you clear some of these kinds of questions.

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if all it has to offer is moving money around and no volatility, will Bitcoin be your favorite still? Drop your thoughts and let's see.

I am thinking that the Volatile is what makes bitcoin a must have for almost everybody, think I am wrong?

And people won't see a reason to buy Bitcoin if there were no Volatility from day one.

Volatility exists in every market but bitcoin is unique in its own way, you shouldn't forget the way it goes up, the same way it does when it is coming down. I was exposed to Bitcoin before I even learned about stocks and others but I'm already used to bitcoin volatility(cryptos) and nothing legit can change that anytime soon, not even stocks. Any other volatility that beats that of bitcoin should be considered a scam.

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Quote from: Nrcewker on February 14, 2023, 08:08:45 AM

People want to control their finances independently. The government and the banks really puts a lot of pressure on the people and impose unnecessary taxes in the name of development of the nation. This is the reason for which many people don’t want to give away their hard earned money in the form of tax and hence they look for decentralised way of managing their finances. Bitcoins provide this and hence many people use the coin. Bitcoins price cannot be fixed, if it is no more decentralised. To make the price stable, some governing body needs to manage it, and here it cannot be possible.

I like your answer. Very concise and constructive. I have nothing to add on this subject, and OP should already have had enough of your answer to his questions.

Quote from: KiaKia on February 14, 2023, 07:34:56 AM

Will people still use or buy bitcoin till today if all it has to offer is the decentralized characteristic only, I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

if all it has to offer is moving money around and no volatility, will Bitcoin be your favorite still? Drop your thoughts and let's see.

I am thinking that the Volatile is what makes bitcoin a must have for almost everybody, think I am wrong?

And people won't see a reason to buy Bitcoin if there were no Volatility from day one.

Bitcoin has a lot to offer and one of the characteristics is financial independence. Of course I will buy. The volatility and functions of the investment instrument are like an additional bonus to the main characteristic of bitcoin.

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Quote from: crypticj on February 15, 2023, 11:23:59 PM

I think it would just change the speed of adoption. New people will come at a slower pace but in general, I think the best about bitcoin is the technology. Especially right now, when governments try to control people and their money. And don't forget about unbanked people who use bitcoin because of the technology.

Unbanked are not as much as people think it is, looking at bitcoin and where it is majorly used, they are all from nations that have big banks, and not from unbanked people, it could be a personal choice to not use any banks in those nations as well, so you could be technically "unbanked" in that regard, but it is clear that people in crypto are in general from nations that have banks.

On the other hand, we are talking about innovation and technology that gives freedom, which is correct reason why people use it and adoption would go higher, no matter what happens, bitcoin itself is not changed and it is looking quite good to invest at any moment no matter what others do about it.

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First, bitcoin will never become stable money because of its limited supply. Even BUSD and USDT aren't really perfectly 1 is to 1 to the US dollar. Bitcoin will always have a high tendency of moving up in value. In the beginning, bitcoin is worthless or just a few cents but because it has a limited supply, people will flock and start bidding higher especially when the internet is becoming a norm these days. Online shopping and online money transfers are in billions of dollars and bitcoin is becoming a good option due to its decentralization.

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Quote from: KiaKia on February 14, 2023, 07:34:56 AM

Will people still use or buy bitcoin till today if all it has to offer is the decentralized characteristic only, I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

if all it has to offer is moving money around and no volatility, will Bitcoin be your favorite still? Drop your thoughts and let's see.

I am thinking that the Volatile is what makes bitcoin a must have for almost everybody, think I am wrong?

And people won't see a reason to buy Bitcoin if there were no Volatility from day one.

If there were no monetary value to it from the get-go I believe investors would still have gone for it just for its decentralized nature because people want a financial system that is super flexible to transfer money across boundaries unlike what the fiat currencies can do, so yes I would have gone for it because this is one of the advantages of Bitcoin till date and even now, if Bitcoin where to be stable hypothetically which I don't think, investors will still use it as a better form of Decentralised StableCoin, unlike other stablecoins.

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Quote from: taufik123 on February 14, 2023, 08:15:47 AM

If there is no volatility then Bitcoins will only be a junk coin that is no different from stablecoins or Fiat, so what will be the advantage of bitcoin if there is no volatility and price fluctuations?

Sorry, but that's so very wrong in so many ways.

No volatility doesn't mean no volatility against a f**t poocoin. The f**t poocoin is volatile itself; namely its value is going to zero.

If Bitcoin had no volatility (in however reasonable way you define it), its USD price would still go to infinity, because the value of USD is going to zero.

Letting the central bankers and governments define a benchmark for value is like bending over and saying "Hey, screw me as much as you please."

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Quote from: KiaKia on February 14, 2023, 07:34:56 AM

Will people still use or buy bitcoin till today if all it has to offer is the decentralized characteristic only, I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

What do you mean by "stable in value"?

That it can buy the same quantity of eggs? (In what country?) The same amount of real estate? (What location?) The same number of iPhones? (The same model or the model computed by some kind of hedonic adjustment function?)
Or, God forbid, the same amount of US dollars, Argentine pesos or some other f**t poocoin?

Whichever you choose, it's impossible to peg its price to that of another asset while keeping it decentralized at the same time, because you'd need a redeeming counterparty. You could approximate a peg by setting the block subsidy to debase it as much as economic growth taken from some consensus-driven, decentralized oracle, e.g. if the economy grew by 5%, let's agree to print 5% more. Or the same for eggs, if you want to peg it to eggs. E.g. if the supply of eggs grew by 5% and the demand for eggs grew by 7%, then eggs are roughly worth 2% more, so you need to make Bitcoin worth 2% more by burning some.
But that doesn't take into account the increasing adoption. After all, we started at 0% and are heading towards 100%, and that alone is causing appreciation.

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Quote from: KiaKia on February 14, 2023, 07:34:56 AM

Will people still use or buy bitcoin till today if all it has to offer is the decentralized characteristic only, I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

To be clear, it's not called bitcoin, there is no experiment if something has been running, the decentralized characteristics of bitcoin are impossible to change, because it goes beyond the initial development concept that was created.

Quote from: KiaKia on February 14, 2023, 07:34:56 AM

if all it has to offer is moving money around and no volatility, will Bitcoin be your favorite still? Drop your thoughts and let's see.

That's called savings, bitcoin is now increasingly popular as an investment not only because of its volatility, but there are other things that make people put their trust when investing, one of which is the best asset ever and is able to maintain its value.

Quote from: KiaKia on February 14, 2023, 07:34:56 AM

I am thinking that the Volatile is what makes bitcoin a must have for almost everybody, think I am wrong?

Personally I can say it's true, because if there was no volatility bitcoin would never be valuable today and another reason because no one is able to control, so bitcoin really works as a decentralized concept.

Quote from: KiaKia on February 14, 2023, 07:34:56 AM

And people won't see a reason to buy Bitcoin if there were no Volatility from day one.

These reasons have been summarized in some of the explanations above, so there is not only the issue of volatility, because if you only talk about the absence of volatility, then no one will invest in gold until now.

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Quote from: KiaKia on February 14, 2023, 07:34:56 AM

Will people still use or buy bitcoin till today if all it has to offer is the decentralized characteristic only, I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

if all it has to offer is moving money around and no volatility, will Bitcoin be your favorite still? Drop your thoughts and let's see.

I am thinking that the Volatile is what makes bitcoin a must have for almost everybody, think I am wrong?

And people won't see a reason to buy Bitcoin if there were no Volatility from day one.

There's no such thing as "stable price" or "stable value". The market price is determined by supply, demand and production costs. Those factors can't be stable. Fiat currencies aren't stable. They are just less volatile. Stablecoins are just fiat currencies disguised as "crypto".
If Bitcoin was as "stable" as a fiat currency like USD or EUR, this would mean that the value of BTC is slowly dropping and BTC is becoming less worthy year after year. To answer you question, NO I wouldn't deal with BTC if BTC had a "stable"(more like less volatile) price.
What's the point of having a financial asset, that is slowly losing it's value?

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Quote from: KiaKia on February 14, 2023, 07:34:56 AM

Will people still use or buy bitcoin till today if all it has to offer is the decentralized characteristic only, I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

As long as it has some value, I will gonna buy some bitcoins as part of my overall assets because of the current state of the world where the big countries nowadays are about to engage in a serious all-out war. If that's gonna happen, I'm sure most of those fiats will lose their value and people will more likely buy bitcoins and use them for their transactions. There are a lot of possibilities when World War III will happen and to get ready and have your own bitcoins in case of that scenario, is a good thing to consider because once it happens, the price will surely grow.

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I think it would just change the speed of adoption. New people will come at a slower pace but in general, I think the best about bitcoin is the technology. Especially right now, when governments try to control people and their money. And don't forget about unbanked people who use bitcoin because of the technology.

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Quote from: Stalker22 on February 14, 2023, 05:04:51 PM

I think Bitcoin was designed to be used primarily as a way to make payments without relying on a central authority like a bank. Personally, I believe that Bitcoin's decentralized and secure network is one of its greatest strengths, and I would continue to use it for transactions even if there was no potential for price appreciation.

There will undoubtedly be a user base even if bitcoin is no longer profitable due to its decentralization or its cross-border payment method. But its demand will drop severely, and people won't be looking for bitcoins as crazy as they are now. Bitcoin's utility is still superior to all current banking systems so there will always be people using it. But for it to become popular and get worldwide attention it will never happen if bitcoin is stable, we need to know that today's human need is profit, money comes first, not privacy or decentralization.

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You must need to learn about Volatility and non volatility
Bitcoin's volatility has contributed to its adoption as a payment method. Due to its ability to quickly transfer money across borders without intermediaries, businesses that operate in countries with high inflation or capital controls have turned to Bitcoin as an alternative payment method. However, the volatility of Bitcoin means that the value of the payment may change significantly by the time it is confirmed, creating a risk for businesses that rely on stable prices.
Bitcoin without Volatility: If Bitcoin had been stable in value from day one, it is unlikely that it would have gained the same level of popularity that it has today. Without its high volatility, it would not have attracted the attention of traders looking to profit from short-term price movements. It is also unlikely that businesses would have adopted it as a payment method since there would be no benefit to using it over traditional payment methods.
I Think you got your Answer now

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If Bitcoin somehow had a stable price and thus made no sense as an investment but was decentralized, it would be an economic miracle, a perfect self-regulated system. I think it would have gained no less attention than Bitcoin the way it really is, and countries would have felt more threatened by it, as it would have been superior to fiat currencies because they can suffer from inflation and belong to specific countries.
I know I'd be happy to use Bitcoin as a stable decentralized cryptocurrency, and who knows, maybe eventually Bitcoin will stabilize enough to almost make it real.

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Quote from: KiaKia on February 14, 2023, 07:34:56 AM

Will people still use or buy bitcoin till today if all it has to offer is the decentralized characteristic only, I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

if all it has to offer is moving money around and no volatility, will Bitcoin be your favorite still? Drop your thoughts and let's see.

I am thinking that the Volatile is what makes bitcoin a must have for almost everybody, think I am wrong?

And people won't see a reason to buy Bitcoin if there were no Volatility from day one.

If he didn't show dynamics, no one would buy him, it's obvious.For stable prices, there are other projects that people use to opalt something.And the very idea of bitcoin is that it is not predictable and many people like it.Bitcoin has more investment attractiveness for many users for longer imputed distances than a simple payment for one action.

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Quote from: KiaKia on February 14, 2023, 07:34:56 AM

Will people still use or buy bitcoin till today if all it has to offer is the decentralized characteristic only, I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

if all it has to offer is moving money around and no volatility, will Bitcoin be your favorite still? Drop your thoughts and let's see.

I am thinking that the Volatile is what makes bitcoin a must have for almost everybody, think I am wrong?

And people won't see a reason to buy Bitcoin if there were no Volatility from day one.

My answer is no. To this day, holding bitcoin is very risky against the risk of hacker attack, has not been recognized as a currency or legal property, and can be banned at any time...There is too much risk in holding bitcoin. So if it's just for the sake of decentralization as well as cross-border money transfers, it's not worth taking such a big risk. I believe, if bitcoin were not volatile and not profitable, very few people would use it.

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Quote from: pixie85 on February 14, 2023, 04:09:43 PM

Bitcoin isn't a stable coin and it will never be one so the question about it one day becoming stable makes no sense. People have already answered that part.

Because bitcoin is not influenced by any institution so this coin will not be stable at any time because this coin will move because of its volatility.
We always see bitcoin going up and down until the comparison is very different so obviously I don't think it makes sense to assume that bitcoin will be stable in the future because bitcoin is not moved by government agencies or banks.

Quote from: Stalker22 on February 14, 2023, 05:04:51 PM

I think Bitcoin was designed to be used primarily as a way to make payments without relying on a central authority like a bank. Personally, I believe that Bitcoin's decentralized and secure network is one of its greatest strengths, and I would continue to use it for transactions even if there was no potential for price appreciation.

Because it is decentralized which is called without a third party, it is easier for us to use without having to be involved again and this is one of the bitcoins that are owned, including the technology.
I prefer blockchain technology which is so strong that it won't be easy for anyone to influence the performance of their technology.

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