Topic: If Bitcoin were at a constant price, more people would use it. (Read 1288 times)
It is at a constant price. One Bitcoin is still One Bitcoin. You need to stop thinking in terms of fiat exchange rates. Anyone who acquired a large quantity in 2009 was best served by completely ignoring fiat to BTC rates since every price quotation from those years is now meaninglessly low.
February 02, 2015, 10:40:21 AM
The risk/volatility is a result of the coin still being very new, we will see a price stability starting at around 2018 when most coins are mined.
February 02, 2015, 10:06:45 AM
The volatility is good for investors/traders but not for average folks who are looking to use it to make purchases with. I agree that some sort of stability is needed fore more adoption. The risk of losing value by storing in BTC is not appealing to the masses.
February 02, 2015, 10:04:26 AM
we're still in the early value determination phase. it will stabilize.
Exactly. 
+$250 is my guess.
Although we are just speculating here, but this would be my guess as well.
February 02, 2015, 10:03:04 AM
We need investors at the moment so the price wobbling is a good thing.
February 02, 2015, 10:01:55 AM
I assume it doesn't matter much how volatile the price is for businesses, provided that they accept payments in Bitcoin, but state them in USD or EUR (or else) and then convert the coins to their currency. I mean, if it functions as a payment method, but not a currency, it's more or less okay for anybody.
But I agree, it can real get scary with these fluctuations
But I agree, it can real get scary with these fluctuations
February 02, 2015, 09:34:21 AM
Other than people, it would also lead to more businesses using it. Perhaps the idea is not towards a constant, fixed price like what you think... a little fluctuation would be enough to give businesses more time to react and decide whether to hold on to the coins. Currently a $50 dollar or more changes in just 24-hour period is not exactly the ideal scenario on what we like to see happening.
Good for traders and speculators but not for businesses.
Good for traders and speculators but not for businesses.
February 02, 2015, 09:01:34 AM
If Bitcoin were at a constant price, more people would use it. I think this is the case cause only if it is CONSTANTLY $200 or constantly $50, will people use it to store value. If it goes up and down then people lose too much money trying to control their own funds and will lead to them using banks (
). Oh well..
). Oh well..For every property, there is a market for it. If Bitcoin price were static, then there were no Bitcoin trader.
February 02, 2015, 08:59:02 AM
Quote
If Bitcoin were at a constant price, more people would use it.
1) Constant price with USD? Euro? Russian Rouble? Argentine peso?2) Who would be responsible for it?
Id say with USD. Of course it would still fluctuate.
2) the market!
February 02, 2015, 08:58:07 AM
we're still in the early value determination phase. it will stabilize.
Exactly. +$250 is my guess.
February 02, 2015, 08:37:01 AM
we're still in the early value determination phase. it will stabilize.
Exactly. February 02, 2015, 08:31:39 AM
we're still in the early value determination phase. it will stabilize.
Exactly.
I hope you're right.
February 02, 2015, 08:30:26 AM
Quote
If Bitcoin were at a constant price, more people would use it.
1) Constant price with USD? Euro? Russian Rouble? Argentine peso?2) Who would be responsible for it?
February 02, 2015, 08:29:21 AM
we're still in the early value determination phase. it will stabilize.
Exactly.
February 02, 2015, 07:51:43 AM
we're still in the early value determination phase. it will stabilize.
February 02, 2015, 07:49:00 AM
No. I disagree. Its the price fluctuations that make it attractive and not stability.
Attractive to day traders not ACTUAL users.
February 02, 2015, 07:48:35 AM
I agree. The prices is to instable for a lot of companies to accept it. Better a lower price with lower flucuations insteed of a lifetime rollercoaster.
My thoughts exactly.
February 02, 2015, 06:58:09 AM
If Bitcoin were at a constant price, more people would use it. I think this is the case cause only if it is CONSTANTLY $200 or constantly $50, will people use it to store value. If it goes up and down then people lose too much money trying to control their own funds and will lead to them using banks (). Oh well..
). Oh well..I agree 100% with you. Atleast not this much of volatile.......
February 02, 2015, 06:58:00 AM
No. I disagree. Its the price fluctuations that make it attractive and not stability.
February 02, 2015, 06:57:07 AM
Not necessarily. The fluctuations in price are what make it attractive to speculators and investors. If it remained stable none of those people would be interested. With that being said I personally think it will stabilize at some point in the future but the current fluctuations are good to get newcomers involved and for early adopters to make some money from it.
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