Is it really a benefit that nobody controls the price? - page 2.

blckhawk

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Quote from: SapphireSpire on February 18, 2021, 03:07:53 PM

I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash.

Not all the coins in crypto are volatile as you think because there are lots of stable coins to be used instead such as USDT, USDC, BUSD, and more. You don't actually need to use volatility coins like Bitcoin if you can't take the risk. This volatility makes this market very attractive for investors and being decentralized so that no one can manipulate the whole market makes it challenging and interesting. Sure it was a lot riskier compared to other markets but along with it, the profit was really rewarding. Investing in Crypto is just like having a 50:50 ratio, 50 percent chance you could lose half of your wealth especially if you really have no idea what you're doing but you also have a 50 percent chance to grow it a couple more times.

Yamifoud

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Quote from: Shasha80 on March 28, 2021, 06:44:12 PM

I can understand you are complaining about the volatile Bitcoin price, because you accept Bitcoin payments. Maybe you feel a lot of losses when
getting paid in Bitcoin. If that's the only two options I suggest to you, the first to stop accepting payments in Bitcoin and replace receiving payments
with stable coins. And the second suggestion is to use an application that directly converts the Bitcoin you receive into fiat. There is always a solution
for every problem we face, so don't blame volatile Bitcoin. What we have to do is make the volatile Bitcoin price a benefit, even though if you are
a little patient the Bitcoin price can go up and the Bitcoin you receive its value can be even higher. Because I'm sure there are still a few people who
buy using Bitcoin at your merchant. So you should just HODL the Bitcoin that you get from customer payments. As done by TESLA, accepts
Bitcoin payments and does not convert them to fiat.

No wonder that he might choose the 2nd option. And I did the same if we are not confident with the market. But in the investors side, volatility is an ideal market which it enable for them to generate profit in uncertain times.
It is a nice thing to see that Bitcoin price is not controlled by someone and no manipulations to happen so people likely to have more speculations. Besides, we can never get this far (today's situation) when the future of Bitcoin lies on the hand of one person.

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Quote from: batang_bitcoin on March 28, 2021, 06:24:50 PM

Quote from: imstillthebest on March 26, 2021, 11:29:29 AM

you dont really like crypto if you cannot accept everything from crypto including its volatility .
so many merchants are here in crypto and they arent even afraid of the volatility but what is important for them is to serve their costumers with better payment option .
your just a merchant , your not investor and traders that cant pull out their crypto easily til they make a profit, why complain .

Merchants have the option to convert every crypto that has been paid to them into fiat easily through services like Bitpay. It's the common third party service that makes other merchants and businesses accept crypto without even thinking about the volatility.
But unlike them, Tesla has the balls accepting bitcoin payments directly and as they've said, they're not going to convert it to fiat.

Most of merchants would definitely be converting those crypto into fiat once they do received it and with that particularly one reason which is to avoid volatility.

I agree on what you had said about Tesla's decision about never making some conversion into the profits that they would make in the business which does signifies that they are really

serious when it comes to bitcoin utility or actual usage. When it comes to price control then this market is somewhat get rid of that possibility but we can deny that there
are really big whales and institutions that could really make out significant effect.

Shasha80

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I can understand you are complaining about the volatile Bitcoin price, because you accept Bitcoin payments. Maybe you feel a lot of losses when
getting paid in Bitcoin. If that's the only two options I suggest to you, the first to stop accepting payments in Bitcoin and replace receiving payments
with stable coins. And the second suggestion is to use an application that directly converts the Bitcoin you receive into fiat. There is always a solution
for every problem we face, so don't blame volatile Bitcoin. What we have to do is make the volatile Bitcoin price a benefit, even though if you are
a little patient the Bitcoin price can go up and the Bitcoin you receive its value can be even higher. Because I'm sure there are still a few people who
buy using Bitcoin at your merchant. So you should just HODL the Bitcoin that you get from customer payments. As done by TESLA, accepts
Bitcoin payments and does not convert them to fiat.

batang_bitcoin

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Quote from: imstillthebest on March 26, 2021, 11:29:29 AM

you dont really like crypto if you cannot accept everything from crypto including its volatility .
so many merchants are here in crypto and they arent even afraid of the volatility but what is important for them is to serve their costumers with better payment option .
your just a merchant , your not investor and traders that cant pull out their crypto easily til they make a profit, why complain .

Merchants have the option to convert every crypto that has been paid to them into fiat easily through services like Bitpay. It's the common third party service that makes other merchants and businesses accept crypto without even thinking about the volatility.
But unlike them, Tesla has the balls accepting bitcoin payments directly and as they've said, they're not going to convert it to fiat.

darewaller

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I do not think that "nobody controls the price" is a true statement. I mean rich people controlled the price for a while now, back in the day it was the whales who got bitcoin for cheap that decided what hte price will be because they sold anytime they want.

I remember clearly in 2018 there was 3 instances where whales ended up selling and dropping the price, this was mainly mt.gox trustee and Craig wright and one more stuff I do not remember now, and they dropped the price a lot. And secondly we are talking about today where companies are buying in billions of dollars so they are increasing so they are changing the price as well. It means all together they do control the price, they used to as well and they still do, people who control it changed bu the price stayed under control of someone anyway. Which is why I do not think that it really means something.

cheezcarls

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That’s how cryptocurrency trading works man. You can’t control the price of a coin or token, unless you are a whale where you can manipulate it all you want. You just have to accept the fact that the prices are unpredictable and it can go up or down without warning. It can be any minute now, or several minutes, hours, days, weeks, etc. It’s better to manage risks properly, and only invest and trade what you can afford to lose.

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Quote from: goldade on March 28, 2021, 06:34:36 AM

As a merchant and business owner, you shouldn't use bitcoin as a means of exchange. Bitcoin is not a stable coin which means it will always be volatile. You should use stable coins like the usdt and busd.

It's risky in terms of volatile nature of this asset, but always depends from how you understand the market and how willing you
are to take the risk.

Quote

It is even funny how that when we talk about the volatility of the price of bitcoin we look at it in the negative light. What if you start accepting bitcoin and because of volatility the price increases tremendously. You'd be grateful for the volatility.

Yeah, volatility also have something to thank, if you made it in the right timing you'll be able to get good compensation don't just
look at the the negative side but also consider the good side of this industry.

Quote

You should know that this is what helps hodlers to make money. Buying when the price is low and selling at a higher price which can only happen because of volatility

Traders are always aiming to make things favorable though not always but the chance is far better to those who take things
seriously and deal with their research.

goldade

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As a merchant and business owner, you shouldn't use bitcoin as a means of exchange. Bitcoin is not a stable coin which means it will always be volatile. You should use stable coins like the usdt and busd.
It is even funny how that when we talk about the volatility of the price of bitcoin we look at it in the negative light. What if you start accepting bitcoin and because of volatility the price increases tremendously. You'd be grateful for the volatility.
You should know that this is what helps hodlers to make money. Buying when the price is low and selling at a higher price which can only happen because of volatility

wiss19

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Quote from: SapphireSpire on February 18, 2021, 03:07:53 PM

I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth?

Solution- price limits!

If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day.

Well, you can’t change that, the price of Bitcoin will continue to be volatile so it’s either that you start switching it to stable coins like PAX and USDT after making sales or you can just totally convert the coins you receive to fiat, that’s the solution for me, if you’re not going to do that the. You can continue with holding the coins like that if you can take the loss.

Though the price has been going up lately. But still make use of this method , look for a means to be converting. I know other merchants that do the same thing, they don’t hold BTC, they convert it once they get it and they make use of P2P in converting which helps them set their rate and make more profit on every dollar sold.

palle11

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Quote from: SapphireSpire on February 18, 2021, 03:07:53 PM

I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash.

The beauty of it all is the volatility because no control and it can not be manipulated or regulated by any government. Is a free place to make profit or the other side, losses Grin

Quote from: SapphireSpire on February 18, 2021, 03:07:53 PM

And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth?

That volatility you fear is what may likely happen. A rush in crypto trade gets everybody to buy in expectation of bull because rush itself means hype. It is going to also have effect to the global economy at a time people will pull out with profit, that will mean plenty money in circulation and that can lead into inflation.

imstillthebest

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you dont really like crypto if you cannot accept everything from crypto including its volatility .
so many merchants are here in crypto and they arent even afraid of the volatility but what is important for them is to serve their costumers with better payment option .
your just a merchant , your not investor and traders that cant pull out their crypto easily til they make a profit, why complain .

ice098

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Quote from: blockman on March 22, 2021, 03:54:12 PM

Because what they only want to see is the pumping of price and there's no balance in the dumps. It's always frustrating to see that the market would move on its correction and we don't want that to happen if we're only wanting to check our portfolio's capacity and market value.
But it is the reality that whenever a correction comes, it must be an opportunity that they should take and do buy as they wish on those times.

What's exactly a reality, we do curious or feel anxious why there are a sudden downfall on the crypto market especially bitcoin which as far as i know now the market was totalky boom and in fact we are now have a lot of huge investors and the bitcoin were now used and accepted as a mode of payment like Tesla but why there still those fluctuations? And simply it is because cryptocurrency was volatile and to be honest the fact that the government has no control over it was the beneficial among other reason.

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Quote from: StartupAnalyst on March 22, 2021, 02:27:50 PM

Everything is easy: continue don’t to use crypto in your business. More risky and wealthy companies such as Tesla, Microstrategy, Galaxy Digital and a lot of others had invested in BTC huge money and hold it to make profit. Volatility of cryptocurrencies brings them (and to all the traders as well) benefit so there is no practical need in making crypto stable.

Btc is more of as investment for them but they might create their own cryptocurrency for the transactions purposes relating to their businesses. Sometimes it's better to know nobody's control the fund as we will be more focused on trading and studying the market. There are so much to study with and to apply knowledge when it comes in crypto to be able to earn unlike in controlled funds where nowadays which sometimes gives no impact knowing they might do exit scam.

blockman

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Quote from: Ziskinberg on March 22, 2021, 10:09:05 AM

Some people are too wary when the market dumps, probably they think negatively. But they never know that this is a big opportunity to buy more in anticipation of the incoming pumps.

Because what they only want to see is the pumping of price and there's no balance in the dumps. It's always frustrating to see that the market would move on its correction and we don't want that to happen if we're only wanting to check our portfolio's capacity and market value.
But it is the reality that whenever a correction comes, it must be an opportunity that they should take and do buy as they wish on those times.

StartupAnalyst

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Everything is easy: continue don’t to use crypto in your business. More risky and wealthy companies such as Tesla, Microstrategy, Galaxy Digital and a lot of others had invested in BTC huge money and hold it to make profit. Volatility of cryptocurrencies brings them (and to all the traders as well) benefit so there is no practical need in making crypto stable.

Ziskinberg

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Some people are too wary when the market dumps, probably they think negatively. But they never know that this is a big opportunity to buy more in anticipation of the incoming pumps.

Volatility, the uncontrolled market price gives the reason why we gain and sometimes we lose. But above all, this helps the majority to make their investment multiplied many times. Just to imagine that the price of Bitcoin now is almost $60k, this couldn't be possible if the price is controlled by someone and we are happy that it won't.

isaac_clarke22

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Quote from: konflikkastil on March 03, 2021, 05:44:27 PM

That is the advantages crypto has that has made lot of people to want to deal with BTC and other altcoins. This is not regulated by any financial banking system and much reason some govt are going against the growth and rapid changes digital currencies has seen. When we think about it very carefully, we will know that it is a leverage and the price is not control by anybody, but just by the number of demand. If more people are demanding for it the price will definitely goes up and it will keep going up. A major increase in the price can turn someone's life around and a little drop some turn a millionaire to a thousandnaire.

Indeed.
That leads to an unstable price as well because nobody sets up a price ceiling as well as floor.
Just buy and buy and buy, and from that we'll come upon a demand increase causing the price to go and bounce all over the room.

barbara44

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Quote from: Maslate on March 13, 2021, 09:50:02 AM

We can really appreciate the benefits we got in a decentralized market. Traders, investors love it because there is no such market manipulation to happen. This the reason why crypto supporters never wanted to make the government-controlled this. Because if that will happen, we can no longer make a huge profit anymore. And that volatility seems nothing to see anymore, we can't do the "buy low and sell high" and the future will lie in the hands of the controller.

Market manipulation is not what we are trying to defend ourselves against in this market, we are not here to make it work for traders, the reason why there is decentralization is that governments, or actually any human on earth doesn't matter who we are talking about, could do something that would hurt currency, look at fiat world, most politicians help people that bribes them but ignores people who needs their help, they change fiat course of action towards helping rich people and bring trillions to help them.

This is what we are against in decentralization, that way nobody can touch it, 1 bitcoin is 1 bitcoin and there will only be 21 million of them and nobody can move it around however they want. Manipulation of markets could still happen, I could buy 1 billion dollars worth of bitcoin by just going 10 million per day or even 50 million per day without letting anyone realize it, and when I have 1 billion I can sell it all at once, that's market manipulation.

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Quote from: k@suy on March 13, 2021, 09:30:55 AM

Quote from: zanezane on March 09, 2021, 12:14:52 AM

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I do believe also that it is much beneficial that no one have control over the price, no one gonna assign a certain amount of value of bitcoin especially but the drawback of this was the unpredictable and the volatility of cryptocurrency which is highly dependable on the demand and supply of the cryptocurrency itself. But the most beneficial i think that nobody controls the price was the freedom of the traders and investors to apply the tactics and strategies they have without following the certain rules.

That is the joy of trading, the unpredictability makes sure that your skills and your luck sort of is tested. If there was no volatility then the market will simply be a cash cow that is slowly bleeding until it crashes. You said it yourself, freedom to apply tactics and strategies is one reason for the unpredictability of the market.

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