When does bitcoin behave like fiat? | Bitcointalksearch.org

Sourgummies

hero member

Activity: 728

Merit: 500

Never ending parties are what Im into.

Quote from: Mickeyb on October 27, 2015, 04:45:45 PM

It was insane for a very early adopters to get to $1 and it got there. After the same for $100 and $1000, and Bitcoin again got there. So I wouldn't bet against anything anymore.

Also we cannot compare Bitcoin to the Fiat. Bitcoin is much more than just a currency. It's also a commodity, a store of value and just a tool for different reasons. I mean people got married and officiated this using the blockchain.

Not to mention that FIAT currencies are also physical and transactions are not publicly available.

I'm not an economist so I couldn't really say a specific time for when Bitcoin would become stable. Hopefully some time in the next century.

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Quote from: thejaytiesto on October 27, 2015, 01:20:24 PM

No one knows. The inflation rate will start becoming pretty irrelevant by abount 2027 looking at the charts, so inflation will not be a big cause of lack of stability (by behaving like fiat, im assuming you are talking about this and nothing something else).

Once and if Bitcoin stops at a certain price, and if the adoption is near mainstream levels, it will be at a price a lot times higher than the last ATH. Simple supply and demand dynamics. This includes prices like 100k to 1 million dollars, but we see this as insane now.

It was insane for a very early adopters to get to $1 and it got there. After the same for $100 and $1000, and Bitcoin again got there. So I wouldn't bet against anything anymore.

Also we cannot compare Bitcoin to the Fiat. Bitcoin is much more than just a currency. It's also a commodity, a store of value and just a tool for different reasons. I mean people got married and officiated this using the blockchain.

pereira4

legendary

Activity: 1610

Merit: 1183

Quote from: randy8777 on October 27, 2015, 02:44:31 PM

once people start using it more as fiat currency. market cap isn't a big issue as far as being being a currency. people are using it already as currency.

If he is talking about a non volatile price then market cap is a big issue... 4 billion marketcap is nothing, a single whale can manipulate the price. You can't have stability like that, that's why we need a lot more billions in the pool so it's harder to manipulate. This is good news for early investors like us, since there is no other way but the price going to marks once the marketcap starts going higher.

randy8777

legendary

Activity: 896

Merit: 1000

once people start using it more as fiat currency. market cap isn't a big issue as far as being being a currency. people are using it already as currency.

Amph

legendary

Activity: 3206

Merit: 1069

you need a great adoption for that, a great usage first, you can't simply expect it to be like fiat, where the marketcap is so underwhelming

when there will be the true bases to have the stability of fiat, it mean that bitcoin is used as a strong alternative, and you will see the same stability

thejaytiesto

legendary

Activity: 1358

Merit: 1014

No one knows. The inflation rate will start becoming pretty irrelevant by abount 2027 looking at the charts, so inflation will not be a big cause of lack of stability (by behaving like fiat, im assuming you are talking about this and nothing something else).

Once and if Bitcoin stops at a certain price, and if the adoption is near mainstream levels, it will be at a price a lot times higher than the last ATH. Simple supply and demand dynamics. This includes prices like 100k to 1 million dollars, but we see this as insane now.

Thenoticer

sr. member

Activity: 332

Merit: 250

Is there a point in marketcap and trade volume that bitcoin starts behaving like fiat?

Topic: When does bitcoin behave like fiat? (Read 504 times)