When Bitcoin will become stable currency? - page 5.

BITCOIN4X

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Quote from: ElmedoRator on May 16, 2023, 08:45:48 AM

I really don't think far into the future, to see bitcoin's popularity more widely.

Why, are you afraid to imagine the big things about bitcoin's potential?
Bitcoin is not a government project that is likely to be abandoned due to its centralization, so think decent things about the potential expansion of real use cases for bitcoin. I think that optimism about a better future should be built on and that will only lead you to believe that buying and holding your bitcoin in the long term will be profitable.

Quote from: ElmedoRator on May 16, 2023, 08:45:48 AM

But actually the things that I feel over the years, the face of bitcoin has changed a lot since its launch to the present, more people know about it but we still need to be more realistic when talking about it.

The idea of bitcoin is still the same, nothing has changed. It's just that the volume of transactions has increased much more than in its early years. I think it's realistic to expect bitcoin to become an adopted currency, so think otherwise. The most unrealistic thing for bitcoin is, it turns into a centralized, authority-controlled asset.

Rupok

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Bitcoin cannot be stable and I never want Bitcoin to be stable. Bitcoin is a virtual currency if bitcoin is stable no one will buy it.We invest in Bitcoin as Bitcoin is not stable. The price of Bitcoin is determined by the market and it always fluctuates up and down every day. And thats way we invest for profit.If a stable currency is Rs 100, no one will buy at Rs 120. If Bitcoin stabilizes, the cryptocurrency will collapse.Then no one will invest with virtual currency anymore. Now Bitcoin can be cashed any way you want and even many shopping malls accept Bitcoin. Besides, many banks are now accepting Bitcoin, so why should it be stable? I thought there was no need to be stable.

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I really don't think far into the future, to see bitcoin's popularity more widely. But actually the things that I feel over the years, the face of bitcoin has changed a lot since its launch to the present, more people know about it but we still need to be more realistic when talking about it. This market is still on a small scale, and the prospect of people knowing about it is probably quite remote. I can mention that the internet story exists and develops to date and it has really reached the global level, so I don't know when that will be possible out bitcoin.

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Quote from: Meild_09 on May 11, 2023, 12:44:12 PM

Bitcoin will become stable when it will be regulated by the state,

i don't know where you get this kind of thinking, even if big countries regulate bitcoin, the price will never be stable because volatility is the nature of bitcoin, it can never be changed and we all have to accept that.

Quote from: Meild_09 on May 11, 2023, 12:44:12 PM

but the price and demand for it will fall heavily, because, that is its uniqueness

we'll see in the future when mass adoption has occurred, will the price fall as you say, because if the bitcoin price falls then i will buy a lot of bitcoin with all the fiat money that i have.

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Quote from: CryptocurencyKing on May 15, 2023, 08:55:33 AM

~snip~
We don't need everyone to use bitcoin before it would be regarded as a currency. All we need is the multitude that would be easy to accept it for a means of payment on goods and services exchanged. You don't even need no government or regulatory body's approval. That's the beauty of the whole system as we have it now.
Bitcoin as it is and even in the future won't be readily available for all people due to certain limitations like devices and network. Those doesn't mean its not a currency. It remains a currency for those that use it for a means of exchange.

Yeah, we need a minimum amount of people that provide a reasonable amount of goods and services payable in Bitcoin.

As you say, there's no need to have the government involved.

And also, note that this is different to say, having a debit card linked to your bitcoin, because that means that you are still using fiat for the transaction, and that requires the whole legacy stack.

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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.

We don't need everyone to use bitcoin before it would be regarded as a currency. All we need is the multitude that would be easy to accept it for a means of payment on goods and services exchanged. You don't even need no government or regulatory body's approval. That's the beauty of the whole system as we have it now.
Bitcoin as it is and even in the future won't be readily available for all people due to certain limitations like devices and network. Those doesn't mean its not a currency. It remains a currency for those that use it for a means of exchange.

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Quote from: electronicash on May 09, 2023, 09:31:37 PM

BTC's unpredictable price is also a positive attribute that Bitcoiners like. you can make money out of this inflation. but BTC may not become stable due to the cycles, when the cycles probably are over like all 21M coins are already mined, i think there will be a stability of price.

The volatility of BTC is what makes it attractive to investors, either for short or long-term investment. With its unpredictability, lots of investors take advantage of it in order to focus on investing their money for profit at the end.

If Bitcoin were to be considered stable, then I doubt that its popularity will continue to rise. It may be considered as "digital gold" in which its price is somehow regulated by some authority which makes its price stable in the first place.

Personally, I prefer it to be this way- lots of people speculating and forecasting its price on the market.

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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.

How can bitcoin be stable when this cryptocurrency was launched 14 years ago and has lots of years to fully unleash its potential and become massively adopted, how can this currency become stable? There is no way, it's not an ordinary currency. I think that it's volatility should be a positive side because it is new and innovative with bright future, that means the earlier you adopt it, the more monetary benefits you'll experience. You need bitcoin to become stable years later, when all cryptocurrency will be mined and transaction speed, mining fees and all other things will be settled down. Now, use the advantage of this volatility to benefit yourself.

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

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.

First of all I don't think that currency manipulation is anything new that happens to bitcoins. In the past all major currency have been focused by traders to get manipulated, some even successfully like George Soros and the British Pound. As long as a currency is free and independent there is nothing we can do against. Usually these manipulation are short term and will eventually be corrected by the market. In my opinion bitcoin is the money of the future because it can be accessed by anybody around the world as long as he has internet. There is no need for banks to share the same network, or for people to know each other. All the transactions can be done freely and independent of governments and corporations. This is the main advantage, which also makes many politicians oppose the idea of bitcoin becoming the number one currency. All governments could unite as they fear to lose the power over the monetary policies in their countries.

arhipova

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If it really became stable, will there be so much hype. The hype is because it gave such high returns over the years. Such returns are not possible in any other form of investment. However, with time as investors become mature, the prices should also become stable. Other alt coins are also eating from the share of bitcoin and thus if you see from last 1-2 years, there is not very big up and downs in bitcoin prices. However, certain news or factors still cause big movements occasionally.

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Quote from: YUriy1991 on May 15, 2023, 12:19:15 AM

For me there is no doubt at all and that's for sure. Bitcoin allows users to pay globally without time or geographic restrictions and provides financial transparency and complete control to users.

Bitcoin was designed like that and to serve those use cases for everyone. The community contributes to maintain it since 2009 even Bitcoin has many upgrades over years.

From user side, you only control your bitcoins and your transactions if you have keys. That means you must use self custody (non-custody) wallets to have keys of your coins.
"Not your keys, not your coins."

Quote

What needs to be addressed here is a matter of price stability, security and government regulations, I think.

More regulations will come and might include cap on daily margin of price change like in other markets. Or will governments try to force centralized exchanges to apply Circuit Break like in stocks?

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

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.

For me there is no doubt at all and that's for sure. Bitcoin allows users to pay globally without time or geographic restrictions and provides financial transparency and complete control to users. What needs to be addressed here is a matter of price stability, security and government regulations, I think.

If see from the perspective of the average person, Yes. They say Bitcoin's future as a currency is uncertain, but see these technological and financial advances could overcome its volatility and open the door to widespread acceptance and a more stable digital currency. To become a reliable currency, Bitcoin needs to be widely adopted for use in day-to-day transactions to increase and I believe that as technology advances, new solutions will emerge to deal with the volatility of Bitcoin which will eventually be accepted as cash as well as mainstream currency. Why do I dare say that because everyone here doesn't want this technology to fall asleep and run in place.

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Quote from: tjtonmoy on May 12, 2023, 02:30:44 PM

Bitcoin being volatile is beneficial for many. And that's how they invest in Bitcoin in order to make profits. If it becomes stable, then many will lose interest and use fiat currency instead. Volatility keeps people attracted to Bitcoin. Price inflation with fiat currency is a big problem. But with bitcoin, it's not possible. Because it has a limited supply.

Factoring Bitcoin is something that fluctuates, it is difficult to predict and even say that it will remain stable and become a stable currency, and this is one of the sweet parts, by having a fluctuating nature, prices often change every year, month, day. , hours, minutes and also seconds, so that everyone will benefit from every change that occurs, you should stop expecting it to be as stable as fiat currency, and to be precise people's interest will soon decrease when you see that he will continue to remain in position and point the same and continues every day.

Quote from: tjtonmoy on May 12, 2023, 02:30:44 PM

Yes, the market gets manipulated time to time. But Bitcoin has shown us over and over that it is capable of going up again. Which is not possible with fiat currency. And as you mentioned, freedom and functionality is also a major factor to consider with bitcoin. As long as people can understand this, they will keep using Bitcoin. As an asset or as a payment method. It will still be there.

Bitcoin comes to help from several fields that attract one of them payments, transactions and other related elements, making Bitcoin one of the very useful and one of the alternatives that is very helpful in any aspect of the economy or other important assets, by having a high level of the higher priority it is no wonder that Bitcoin will be in another booming phase. by coming later the level of demand and supply is getting better and also with increasing adoption in various Individuals or countries we are sure that Bitcoin will be in an increasing phase later.

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Quote from: n0ne on May 14, 2023, 06:57:13 PM

Quote from: nullama on May 14, 2023, 06:43:51 PM

Quote from: JayTrain on May 14, 2023, 04:24:49 AM

It's important to remember that the use case for Bitcoin may not necessarily be as a stable currency for everyday transactions. Its value proposition lies in its decentralization, security, and ability to operate outside of traditional financial systems. While stability is important for a currency, it's not necessarily the only factor in determining its success or adoption.

It's simply money, a way to pay goods and services.

It's value will change over time, but so does other currencies.

The thing is that over long periods of time it should continue to increase it's value given its scarcity.

It emerged as an alternate to the traditional fiat to fulfill the missing features of the monetary system.

The prime purpose is to be used as a transaction source that omits the middleman.

The best thing with cryptocurrency from that of the fiat is the volatility.
Most of the people prefer cryptocurrency for its varying market.
For now we can't see it to be stable as most users said.

I partially agree, I think that an important part of the market and liquidity comes from the traders and speculators, who are here in order to take advantage of the volatility to earn some money, thanks to them we are able to easily to go an exchange and sell at spot price in mere seconds, if Bitcoin became very stable, I am not sure whether all the trading volumen would remain the same, only those willing to use high leverage would stay, as happens in FIAT/FIAT pairs.

On the other hand, because the programmed scarcity of Bitcoin, the percentage of people who view it as a commodity rather than a currency intended for daily payments or purchases grows through time, depending whom you ask that can be good or bad for this project.

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Quote from: nullama on May 14, 2023, 06:43:51 PM

Quote from: JayTrain on May 14, 2023, 04:24:49 AM

It's important to remember that the use case for Bitcoin may not necessarily be as a stable currency for everyday transactions. Its value proposition lies in its decentralization, security, and ability to operate outside of traditional financial systems. While stability is important for a currency, it's not necessarily the only factor in determining its success or adoption.

It's simply money, a way to pay goods and services.

It's value will change over time, but so does other currencies.

The thing is that over long periods of time it should continue to increase it's value given its scarcity.

It emerged as an alternate to the traditional fiat to fulfill the missing features of the monetary system.

The prime purpose is to be used as a transaction source that omits the middleman.

The best thing with cryptocurrency from that of the fiat is the volatility.
Most of the people prefer cryptocurrency for its varying market.
For now we can't see it to be stable as most users said.

nullama

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Quote from: JayTrain on May 14, 2023, 04:24:49 AM

It's important to remember that the use case for Bitcoin may not necessarily be as a stable currency for everyday transactions. Its value proposition lies in its decentralization, security, and ability to operate outside of traditional financial systems. While stability is important for a currency, it's not necessarily the only factor in determining its success or adoption.

It's simply money, a way to pay goods and services.

It's value will change over time, but so does other currencies.

The thing is that over long periods of time it should continue to increase it's value given its scarcity.

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Quote from: sokani on May 11, 2023, 05:01:49 AM

it was never created to be stable and that's one of it's uniqueness. The price is controlled by supply and demand.

You are correct; Bitcoin was never created to be a stable coin; it was designed to be a store of value, and as a store of value, its price is impacted by supply and demand. It's just like the law of supply and demand in economics, which states that "when supply is greater than demand, the price will drop, but when demand is greater than supply, the price will hike." Bitcoin has a limited supply compared to its demand by investors, but the only thing here is that the price of Bitcoin is not only affected by demand; there are also some other factors that contribute to price volatility, such as good and bad news, war, pandemic. Whoever thinks that Bitcoin can become a stable coin is wrong because it's a store of value and, as time goes on, there will always be changes in price as a result of some factors. It's just like a plot of land: when you buy a plot of land for like $20,000 in my country here, come back in the next four or five years and you might sell that plot for like $30k or more depending on the level of development that is going on in that area.

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Quote from: rhodelmabanal on May 13, 2023, 07:51:27 PM

I cant imagine bitcoin to become stable, maybe investors will not buy and holds bitcoin as an investment if this would become stable, for me there is no way for btc to become stable because it is decentralized and i never seen btc become stable from the past so it will never ever become stable.

You are right, it makes no sense then it will not be attractive to traders and investors. I personally would not want it to be stable so it will not be interesting, but at least there is an interest to check the exchange rate every morning and calculate whether there is a profit or not) For stability, they have already come up with other coins and tokens, which would be very difficult to use today.

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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.

It will never be stable, infact if you see no currency or no security in the world can be stable unless it's manually done so. All types of fiat are variable. The move against each other and also their purchasing power falls and rises as well. Same is going to happen with Bitcoin as well, it's also going to always move up and down it's only the %age of deviation that we can try to stop. Because if it's slightly more stable it'll make it easier to be used as mainstream currency.

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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.

You fail to understand bitcoin as a speculative asset and bitcoin will never be stable forever. To see the future of bitcoin is not difficult, when this asset is still speculative then its journey will still be one of the best choices. There are separate regulations for countries that want to make bitcoin a currency and I think that will be difficult to happen.

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

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 should it be stable? In economic relations, something that is limited usually has a value that cannot be regulated, because the role of demand and supply will continue to influence its journey, so it is impossible for bitcoin to be regulated regarding its stability.

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

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.

I have never cared about whether bitcoin will become currency in the future or not, what I want to do is collect as much bitcoin as possible, this is in line with the thoughts of our people before such as collecting as much gold as possible, even though the two differ both in terms of price, speculative and profit returns. I chose bitcoin as an asset capable of maintaining value and never thought of making it a global or local currency.

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