Topic: Let's Stabilize Bitcoin - page 2. (Read 621 times)

Maybe OP should read more on fiat and centralised market . It should give him a better understanding about it.
Besides,  Bitcoin volatility makes it possible for investors and traders to earn while investing in Bitcoin as it has been said but why would they want it stable??(rhetorical).

However, BTC also have a dedicated amount already and you still want it to be stable despite it current market cap and value.How will people perform exchange,  think of it OP , maybe when you read more on it you will understand better.

The dollar is not a stable, is it?

It is not possible, Bitcoin is a volatile currency because it has a limited supply and the demand keeps increasing which is the reason why its price keeps going up and down. Besides, what will be the difference between fiat and Bitcoin if it becomes stable? It will just become a decentralized fiat and I bet people wouldn't like that as much as they like Bitcoin right now, and the biggest reason for that is because it is volatile and it tends to increase in price.

The level of adoption that we have right now is mainly because of the reason that Bitcoin's value keeps increasing over time which has made a lot of people gain interest in Bitcoin and cryptocurrencies, if it was a stable currency, I don't think it could become this much popular or had this much fame.

We don't need to.

If you want a coin that's stabilized, use a stable coin. They are stabilized by default.

Bitcoin will never be stabilized against usd because 1 btc = 1 btc. It is the USD that's moving against bitcoin.

Also the investors will lose their interest in btc if they see the same price every day.

Bitcoin's volatility is benefiting us greatly, I don't understand why the OP wants it to become stable. Agreed that volatility is a barrier to bitcoin becoming a popular currency, but as an investment asset it also offers significant benefits. I also agree with your thoughts, we are interested in bitcoin because its value is increasing, in case it stabilizes. I believe that not too many people will be interested in it. Except for the OP, I really want to know if anyone here wants bitcoin to become stable, is there anyone who doesn't want to make money?

If Bitcoin price was stabilize in the first place I’m sure won’t be interested in Bitcoin today, you can into Bitcoin because you are attracted by its significant performance over the course of time. If the price was stagnant I’m sure it won’t interest you to buy or invest in.

There is no doubt that it is certain, no asset can increase continuously and endlessly. The larger the capitalization, the smaller the volatility and we can also easily see that bitcoin cannot increase 1000 times or 100 times in recent years as the capitalization is increasing. But that doesn't mean it will be as stable as fiat, just that bitcoin's volatility will be smaller.

As for whether it can be widely used in payments or not, that is for the government to decide, we have no right to decide that. So don't rush to draw conclusions about the future right now.

stable words do not exist with Bitcoin, and it is characteristic of crypto to have volatile prices.
Except for stablecoins which are designed to be stable 1:1 with Fiat.

Now Bitcoin is more of a volatile asset for speculation and not for payment and is only based on its value.
Many people are interested in Bitcoin because of its increasing value. But when the value does not increase and stabilize then someone's interest in entering will decrease.

Regarding the OP Thread that wants to stabilize Bitcoin, Stable may be in the sense of Sideway or movements that tend to be passive and give altcoins the opportunity to start recovering prices, But stable as a stablecoin it will not be possible.

It is doubtful that prices will stabilize if market capitalization rises.

I don't see a path for Bitcoin to be widely used for payments.

Until we begin to think of Bitcoin as more of an asset than a means of payment, this type of reasoning will continue to inundate our minds. From the evidence of things around us, we can see that Bitcoin attracted people to it because of its power to replicate value in price and not necessarily because we pay for things with it. If it's as a payment option, there are several altcoins that can do that. No one stabilizes assets. They're meant to appreciate or depreciate in value, subject to the law of demand and supply. This is what I see with Bitcoin.

I'm in agreement with that, completely. It's the same tyranny of the financial institutions and middlemen that Satoshi aimed to dismantle and someone is asking for it to still be upon us?

So what? another day it will be 40k. Unlike hyperinflation, you can have some lows and many highs, with fiat the only direction there is, is down.

Yeah its like gold where initial extraction vs almost nothing is ever found anymore, that may be a century or more away (just like gold).
You shouldn't think too much about it, if you are full into Bitcoin (no fiat) you simply spend what you need and save the most you can. But some people don't have discipline and want to burn it all or "invest it" because they still think its like fiat where if you don't invest it it will lose its value. There is no need to invest bitcoin, you can just hold it, it will at least not collapse like fiat can, that's for sure. Any downs are temporary, we have 14 years and the only direction it goes is up. Why? Because the only direction of fiat is down. Why? Because fiat is infinite while bitcoin is finite. Why? Because fiat is created and destroyed by few people but Bitcoin rules cannot be changed by a minority like in most altcoins and all fiats.

Suppose nobody perceives bitcoin value going up ever, as in, nothing in Bitcoin can make more valuable. What is the market net effect? Price goes up, because, all fiats and most altcoins are designed to lose value. Reality is that bitcoin market availability is very small and only going smaller. From time to time, some amounts are dumped by those who think its time to sell, only to be rapidly acquired by others who think its cheap, net effect, it has increased even if fiats were perfect and not losing value. But...

Both Bitcoin perception is going higher, AND fiat perception is going lower. Perfect storm which may bring the next economic crisis. Those crisis are inevitable as long as they let the State manipulate interests rates, money emission and whatnot. Read Austrian school of economy if you want to know about the economic cycle. What State has put Austrian school economists at least as gov advisors? El Salvador. Start kicking the monetarists so you can get what Bitcoin is; Hayek would say private money but in any case not garbage money which is not debt credit expansion based and huge shock for the mainstream economists who fear deflation because their scheme would then collapse.

The value of things is subjective. There is no such thing as intrinsic value. Doesn't matter how many hours you spend or what resources you used, if the buyer doesn't want it, you won't sell it. The power is in the buyer, not in the worker, this breaks Marxism/Socialism as well. Oh why wouldn't they teach Austrian Economy more in school/college... this, politicians don't like being told step aside and let the economy take its course without your intervention.

Bitcoin kicks the State out of the money, it is a tool in the right direction, more will come. Those who adopt it, will be spared from the next crisis that will come. It will be too late when it kicks, don't be keeping fiat, change it while you can, and start getting paid and pay with bitcoin, close the circle for true freedom.

Fluctuation is freedom
Pegging is tyranny

ALL hyperinflations decreed a peg. "Stable" coins are pegs, against fiat which in itself you know its infinite trash. Many altcoins/cbdcs think "bitcoin is bad" and emulate fiat, and some even peg or both more often than not, using the ponzi scheme known as fractional reserve. You will only lose what little wealth you may have left, unless you go with plan BTC.

The time is now, tomorrow will be too late.

Well, the point is that as the price goes up and more people adopt it, at least in theory the price will become more stable, with less fluctuation. It is the same with company shares and other assets: the first few years are very volatile but also very profitable, and over time they stabilise both in terms of profitability and volatility. But we don't know when it will stabilise. Maybe it is by the year 2150 or thereabouts.

Of course, stabilising it with voluntary actions as the OP would like is impossible, or could only be attempted with political actions, similar to price controls, as stompix says, which would be the only way to stabilise it.

Conversely, I don't feel comfortable using bitcoin for payment because of its volatility. I don't want to buy bitcoin for $25k and have to use it to pay when it's only $15k. That makes me spend more money, whereas if I used fiat, I wouldn't have to pay any extra costs, not even transaction fees. As long as bitcoin is volatile, it's really difficult to use it as a currency. But you're right, we like it because its volatility can be profitable, if it becomes stable, quite a few people will leave it immediately.

Bitcoin being a highly volatile coin is what makes Bitcoin different from the others. This is it's own charm so why will you removed this? If you do, Bitcoin will look ordinary and people may not really be interested on it anymore. I see no issues on using Bitcoin as a currency despite having that said characteristic. Transactions are still smooth on my side and the fees are not really that exaggerated.

I guess some people are just OA (over-acting). They are too picky or sensitive. But I'm sorry, Bitcoin can't just favor them because they are only a small percent compared to those people who gladly like and accept Bitcoin for who it is. There are still other cryptos out there which are more stable and then there are literally stable coins like USDT and USDC. Why can't those people use them instead? That should solve their problem easily.

No and it doesn't matter.

1 It is not necessary
2 You can't do anything about it
3 It can be used for payments just fine

If you want a relative price to fiat, the payment system/processor will do the conversion in real time at the moment of payment. It is the same in hyperinflation countries, where the fiat equivalent price is changing by the minute, but unlike bitcoin, it only goes one direction...

Maybe the fluctuations will decrease over time, but it will never be fixed to anything. Its called free market, and fluctuation is a symbol of freedom, while a pegging is a symbol of intervention that creates a distortion that WILL explode someday.

You can see it with the price of gold. It still fluctuates freely.

Volatility is one of the well known characteristic of bitcoin. Bitcoin price wouldn't be stable as much as people want it, at least in our current time. I also see that it's not common to see people in buying things or services using bitcoin nowadays given that there's fees and tx confirmation. There's a thread about bitcoin redesign on reddit about the holes that bitcoin have such as inefficiency if being used on day to day payment transaction, but here we are today stuck with it. This is why there are several altcoin that is made for the exact purpose of filling the job of being a payment.

Even if someone expects you to do it, then I am 100% sure you won't be able to do it.

The price of bitcoin will never be stable due to its supply and demand. Someone could lose their bitcoins permanently if they lost access to their storage wallet, which would increase the total number of bitcoin that are frozen without being able to be moved. So far it is absolutely impossible for anyone to control Bitcoin, including the government, but they have succeeded in controlling most of its users through regulation.

Bitcoin's volatility could be lower if Bitcoin is mass adopted as a currency, while currently regulations in various countries still prohibit it. We never know about the future, but I believe bitcoin will never be stable even if every country adopts it.

I don't think so, I don't think that once the price of bitcoin stabilizes that means bitcoin will become centralized. I believe that with bitcoin being widely accepted and used in payments and with a larger capitalization, bitcoin will also gradually become more stable. Of course, it may be as stable as gold but not as stable as fiat.

But honestly, I also don't want bitcoin to become more stable or less volatile. We profit from its fluctuations, and if it is stable, how can we still profit?

Unfortunately there is no way to stabilize bitcoin and the only concept of stabilizing goods is in economic law because it can be regulated or in other words there is the influence of people or groups that can suppress prices. Bitcoin doesn't work like that and has nothing in common with other products that can be regulated by a particular person. So I think there is almost no way to make the price of bitcoin stable?

I have studied this concept in economics by exchanging goods for other goods and previous people may be familiar with this style. As a simple example that I may have heard, when they buy wheat and exchange it for vegetables in exchange, these are just some examples that may not represent bitcoin, but can this process be done on bitcoin. I think it's a bit of a hassle and there are a lot of people who probably don't want to do it and if you want to see a stable coin maybe the choice is USDT not Bitcoin.

Regarding exchanging goods for bitcoin, this may be possible depending on the particular product because currently there may be several places that accept bitcoin as a means of payment, but it depends on whether they intend to make payments that way or not. If you look at the current conditions and the comparison of several places that use bitcoin as a means of payment, so it also hasn't been able to stabilize bitcoin.

This is bitcoin today and that's how it will always appears to be, volatility is what was made along with bitcoin because even the local currencies in fiat and not stable while bitcoin is believed to be more highly volatile than those in fiat, bitcoin cannot be stable also considering that in it instability lies different opportunities to buy and sell.


Maybe the more reason why bitcoin should be more highly volatile than ever so that the government may feel the impact of what they would have been missing over the years without adopting bitcoin as a legal tender and only two countries did so.