When Bitcoin will become stable currency? - page 2.

loopes

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Quote from: crypticj on May 09, 2023, 09:19:02 PM

I was thinking about Bitcoin as a currency a lot lately and I have some doubts about how currently we see its future.

The problem is, in order for Bitcoin to become a currency everyone will use, it should be stable. I know that you might say that people will still use it because it's not about stability, it's about freedom and technology. I agree with that, but Bitcoin needs to be stable in order for people to treat it like money, and not like an asset.

Just look at what people are saying right now, experts say that people shouldn't hold USD because inflation is just 5% a year, but imagine if you have bitcoin that can go down like 5% a day because some whales sold it. It will be problematic for people to use it on a daily basis because of that.

I know that people say that when Bitcoin will be adopted, it should become stable because there is a limited amount of it, but I don't see how it's gonna happen. From what I see people treat bitcoin as an asset to invest and hold and I can't imagine that will change in the future.

Why do you guys think Bitcoin will really become the "money of the future" and people will actually use it like one?
From what I see, I think it's possible that people in the future will still trade bitcoin or try to buy as much of it as possible to manipulate the market.

Bitcoin can not to be stable currency because it does not have backed up value. if you compare it to the US Dollar it is certainly different. because US dollar has back up value in gold , it is managed by the The Federal Reserve System (The Fed), so could bitcoin has back up value in the future ?

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I believ it need ten years so for now I just keep adding BTC to my Ownr wallet

I think you should rethink this if you believe that bitcoin will be stable.
With the current volatility that we always feel in the end it will not be stable and this is precisely what makes bitcoin more interesting.
If they were stable I have my doubts about whether they will be or not because ultimately one of the uniqueness of bitcoin is its volatility.
I don't think something like this needs to be forced because in the end this will also not be possible to happen.
Keep in mind that bitcoin is an alternative not to be the main but to be an option so in this case regardless of now or the future everything will not change because bitcoin is not intended as the main payment.

jeraldskie11

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The majority of people are here because bitcoin is NOT stable currency. And it shoudn't be stable, i think

I completely agree with you. Because Bitcoin is not a stable coin, we should expect the price of this coin to fluctuate. To make it feel like a stable currency, the market cap must be increased 10 times such that the price has very little fluctuation. It will not happen overnight, but it will take many years, and I believe it is very possible, especially if Bitcoin is authorized throughout the world and businesses accept Bitcoin as payment.

tread93

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I mean honestly I was just thinking the other day how stable it has been lately, I remember when analysts were comparing bitcoin to Amazon and tesla stocks years ago poking fun at how BTC was more stable then them after years and years of scrutiny on how unstable it was, but when the markets were down and bitcoin held 45k for over a quarter it was turning heads in the last bull market. I honestly don't know when or if BTC will ever be a "stable currency" one thing is for sure is that in the long term it's destined to be a currency and already is in a few countries 🤔

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Quote from: nullama on May 27, 2023, 10:06:55 PM

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I don't think it will be currency that everyone use, I feel like it will be more like gold

Bitcoin is already available for everyone in the world to use it, it just needs more time and attention from people.

You cannot really make an internet transaction with gold, whereas with bitcoin you can make micro-transactions with sats if you want to, immediately through the lightning network, which is relatively new, but it's growing extremely fast these days.

But it wouldnt really be ending up to become a main currency worldwide. Yes, it does have the potential on being used or adopted but it wouldnt really be coming into this point.Its not bad on getting that optimistic but

we should really be that somewhat realistic when it comes to things that do happen and not really just that thinking on what we do have in mind. Think of factors which either could affect or not on the said situation.
Speaking about bitcoin would become a stable currency? It cant happen and never because the demand would really be in between buyers and sellers which the market would be always volatile.
Come to think that if this one isnt volatile in price, do we really believe that there would be lots of investors would be diving into it? For sure it wont.

This is why just let it be on how it should supposed to be and deal up accordingly basing up on what you do see and engage basing up on its behavior which you would be having the idea
on how to dealt with it.

crypticj

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Quote from: serjent05 on May 26, 2023, 03:44:07 PM

Technical feature of Bitcoin is unaffected by whether Bitcoin price becomes stable or not. So I believe it is wrong to say that individual control and pseudonymity can't be achieved if Bitcoin becomes stable.

Stability can be taken in two points. Market stability means there is enough liquidity on the market and price stability which is there is enough demand for the supply and vice versa. Price will fluctuate, the only difference of being stable is that it doesn't fluctuate wildly.
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Totally agree with you!
People don't understand that right now everything indicates that Bitcoin becomes more and more controlled and not vice versa. As I said, regulations and KYC is a signs of centralization.

Yes, that's what I talking about it. I'm not saying that Bitcoin should be 100% stable but it should be stable enough for people to use it in everyday life. Because just imagine, you want to buy shoes, you change 1000$ to BTC and at the time you are at the store, you have 950$ because Elon said something on Twitter, it's an awful situation so people won't just use bitcoin for that.

nullama

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I don't think it will be currency that everyone use, I feel like it will be more like gold

Bitcoin is already available for everyone in the world to use it, it just needs more time and attention from people.

You cannot really make an internet transaction with gold, whereas with bitcoin you can make micro-transactions with sats if you want to, immediately through the lightning network, which is relatively new, but it's growing extremely fast these days.

CPNpr

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I believe Bitcoin will never be stable currency. Because if Bitcoin becomes a stable currency, many investors will move away from Bitcoin. I myself will slowly wean myself off Bitcoin if it becomes a stable currency. Market rise is the choice of all investors. Bitcoin is in such demand due to market volatility. Bitcoin will lose this demand if it becomes a stable currency. Never wants to lose its market everyone wants to hold on to. Bitcoin will never be a stable currency

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Quote from: inthelongrun on May 26, 2023, 06:46:26 AM

Quote from: MiF on May 25, 2023, 09:43:43 PM

I think it will never become a stable because bitcoin is decentralized there are buyer there are also sellers it always round and round cycles sometimes it is in bull market sometimes it is in dip or bear market there is no record on history that btc become stable coin it is always unstable from 2010 till today, i don't know the future but i am in favor of bitcoin is still unstable in the future.

But what if the market capitalization of bitcoin becomes $20 trillion in the near future? Will it continue to remain unstable and volatile? It will be very difficult to find another $20 trillion to double the price of bitcoin.

My thought is that if bitcoin will continue to rise in the next years to come, it will come to a point where its valuation is just too high to become volatile. Just like the blue chips in the stock market where its movements are not as volatile anymore compared to those stocks that are only worth hundreds of millions in dollars.

This is true, we will easily see if we compare the returns from the early years and the recent returns of bitcoin. In the early years, bitcoin could grow by several thousand percent, but in recent years that growth is only 100%, 200%, or 300%. It can be seen that over time, the larger the capitalization, the smaller the returns. But in return, bitcoin will become safer with a larger cap. But for it to become completely stable as a currency, I don't think that will happen, there will still be volatility but it won't be huge and that's why many investors today prefer to invest in altcoins rather than bitcoin.

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Quote from: Sandra_hakeem on May 26, 2023, 02:00:43 PM

Bitcoin was made to operate in a system were them currencies are TOTALLY controlled by an individual, with the utmost pseudonymity: that can't be achieved when Bitcoin is stable.

Technical feature of Bitcoin is unaffected by whether Bitcoin price becomes stable or not. So I believe it is wrong to say that individual control and pseudonymity can't be achieved if Bitcoin becomes stable. I do not know where you get the idea that some features of Bitcoin specifically its pseudonymity and individual control will be gone once it becomes stable.

Stability can be taken in two points. Market stability means there is enough liquidity on the market and price stability which is there is enough demand for the supply and vice versa. Price will fluctuate, the only difference of being stable is that it doesn't fluctuate wildly.

In this world the only constant is change, so the possibility of Bitcoin being stable is always there and I do not think that Bitcoin will stay highly volatile when it gets matured.

Sandra_hakeem

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Hell no.
Bitcoin won't be become a stable currency anytime soon - ion even think that will ever happen. "For the fact that we've got a crocodile already doesn't make an alligator harmless " I just formulated that though...lol
Your FIAT will always play a vital role as Bitcoin remains a store of value... The volatility determines the turnovers and interest or losses made individually... Nobody makes extra bucks putting his funds in the bank, does anyone?!! Instead you're being charged unnecessarily.. Bitcoin was made to operate in a system were them currencies are TOTALLY controlled by an individual, with the utmost pseudonymity: that can't be achieved when Bitcoin is stable.

Sandra 🧑‍🦰

robattfield

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I think the price of bitcoin is never stable, especially after mining 21 million coins. Above all, no one wants this asset to be stable because once it is stable, what will they really do when many people look to bitcoin because the profits that bitcoin can bring are higher than the first channels? ordinary private. So there's no need to change the stability of bitcoin so much right now that it's really not in our favor for the sake of making money.

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Quote from: serjent05 on May 25, 2023, 12:00:34 PM

Quote from: crypticj on May 21, 2023, 11:52:31 PM

Quote from: nullama on May 21, 2023, 08:19:29 PM

Yeah, I think that's the key here.

Fiat will always continue to be devalued over time, so Bitcoin will always be volatile because of that.

It might become less volatile if it's measured in something else like gold for example.

Bitcoin is fluctuating NOT because of the inflation of fiat. Fiat is just one of the measures of the bitcoins price, it has nothing to do with the price itself. Bitcoin is dropping only because people are selling it and there is more supply than demand.

Inflation of money means the depreciation of its value. So if fiat value depreciates, Bitcoin will increase in fiat value. And when fiat value recovers, Bitcoin will depreciate in fiat value. We can say, the depreciation of fiat contributes to the fluctuation of the price of Bitcoin. And fiat as we say depreciates because of inflation. thus we can connect that inflation also affect Bitcoin valuation.

Not wrong, the devaluation of fiat also affects the volatility of bitcoin. But it is not the leading cause or the only cause. I agree with what OP said, the volatility of bitcoin is up to us when we use it as an investment asset to make a profit. I dare say that even if fiat is more stable, bitcoin will still be volatile. So for bitcoin to stabilize and become a currency is almost impossible, since our need for it is profit and profit. But I think if bitcoin becomes stable or becomes a currency like fiat, I don't think many people will need it.

inthelongrun

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Quote from: MiF on May 25, 2023, 09:43:43 PM

I think it will never become a stable because bitcoin is decentralized there are buyer there are also sellers it always round and round cycles sometimes it is in bull market sometimes it is in dip or bear market there is no record on history that btc become stable coin it is always unstable from 2010 till today, i don't know the future but i am in favor of bitcoin is still unstable in the future.

But what if the market capitalization of bitcoin becomes $20 trillion in the near future? Will it continue to remain unstable and volatile? It will be very difficult to find another $20 trillion to double the price of bitcoin.

My thought is that if bitcoin will continue to rise in the next years to come, it will come to a point where its valuation is just too high to become volatile. Just like the blue chips in the stock market where its movements are not as volatile anymore compared to those stocks that are only worth hundreds of millions in dollars.

MiF

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I think it will never become a stable because bitcoin is decentralized there are buyer there are also sellers it always round and round cycles sometimes it is in bull market sometimes it is in dip or bear market there is no record on history that btc become stable coin it is always unstable from 2010 till today, i don't know the future but i am in favor of bitcoin is still unstable in the future.

serjent05

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Quote from: crypticj on May 21, 2023, 11:52:31 PM

Quote from: nullama on May 21, 2023, 08:19:29 PM

Yeah, I think that's the key here.

Fiat will always continue to be devalued over time, so Bitcoin will always be volatile because of that.

It might become less volatile if it's measured in something else like gold for example.

Bitcoin is fluctuating NOT because of the inflation of fiat. Fiat is just one of the measures of the bitcoins price, it has nothing to do with the price itself. Bitcoin is dropping only because people are selling it and there is more supply than demand.

Inflation of money means the depreciation of its value. So if fiat value depreciates, Bitcoin will increase in fiat value. And when fiat value recovers, Bitcoin will depreciate in fiat value. We can say, the depreciation of fiat contributes to the fluctuation of the price of Bitcoin. And fiat as we say depreciates because of inflation. thus we can connect that inflation also affect Bitcoin valuation.

kaseygriffin

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People come and invest in bitcoin because they really don't think it's stable. The constant volatility has the potential to boost its popularity and attract profit-seeking investors. So it's hard for the adopters because if bitcoin becomes stable, then it will lose interest and people will stop. So it's best not to assume that bitcoin will become stable in the future. This is stupid, and I think this could destroy bitcoin's dominance over the entire market.

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Bitcoin is never going to be stable coin because it was not created to be a stable coin and this is why I believe that Bitcoin will work better as a store of value than trying to replace Fiat currency.

bitcoin should be treated as a digital gold rather than currency because of the highly volatility side of Bitcoin, so those who are worried about if Bitcoin is ever going to replace real money should abandon such thought, it's not going to work out fine.

Stablecoins like usdt are more closer to being a real currency for the word to use than bitcoin because $1 worth of usdt equals to 1 USD and that's why I believe that central. Bank data currency will work much better as a currency.

crypticj

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Quote from: Maidak on May 25, 2023, 12:20:32 AM

I don't see any difficulty in bringing bitcoin to daily use, it's just that people don't want to waste their bitcoins on day-to-day expenses while fiat has taken on that role very well.
But would you admit to me that bitcoin is more suitable for investment than a currency because of its finite supply? Moreover, if it was used as a currency, would people still care about it as it is now?

Indeed, people are not using bitcoin as a currency because they see it as an asset, you not gonna sell your Apple shares to buy a beer, but it's NOT the only reason. You can't deny that fiat does this role better, because it, again, stable enought to use.
Just take a look at the currencies people use, If you will pay attention to the Turkish lira, you will see that people don't want to use it because of its volatility. Yes, it's going only down while bitcoin can go up, but the point stays, people preffer to use rather stable currency in everyday life.

Of course, bitcoin is more suitable for investments than currency. Who the hell even invests in currency? You should compare bitcoin to S&P 500 instead. And yes, for me, bitcoin is the better investment. But it's not making a good currency out of it.

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Quote from: Razmirraz on May 25, 2023, 08:55:12 AM

Quote from: crypticj on May 09, 2023, 09:19:02 PM

The problem is, in order for Bitcoin to become a currency everyone will use, it should be stable. I know that you might say that people will still use it because it's not about stability, it's about freedom and technology. I agree with that, but Bitcoin needs to be stable in order for people to treat it like money, and not like an asset.

One of the reasons why Bitcoin is not yet stable is because Central Banks and most countries around the world do not yet support Bitcoin as an alternative currency. As you can see what always happens in the Bitcoin market, every time an investor enters the market the graph goes up immediately because it creates a huge wave in the Bitcoin price. If the demand decreases, it will affect the chart and it will drop immediately. The price of Bitcoin will be stable and nothing will affect the market when the market starts to develop which is supported by the state and central bank. imo

Until whenever bitcoin will not be controlled by anyone including the government or central bank, bitcoin will not be stable and will still have volatility, therefore it will still be very difficult to become an alternative currency in all countries, but only a few countries can maintain it because the value of their currency is weak.
Whales can control the price of bitcoins because they have a lot of money already put in there so it is only natural that there are big waves that cause the charts to go up and down, so bitcoin can still be affected by any news that can cause new waves in the market.

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