Why Bitcoin is not that good as currency?

meliodas

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Quote from: naikturun on January 18, 2020, 07:48:00 PM

Quote from: FLoving on January 18, 2020, 01:53:31 PM

There is a risk in everything but still I do not agree with the point that bitcoin is not that good as currency. I am using bitcoin from a longer time and from that time I am observing that bitcoin is much better than any other currency which the states are using for themselves. Instead of that which is said in the title I will say national currency is not that good as bitcoin.

of course not good because the price is unstable and very volatile.
so bitcoin is widely used as a futures investment or daily trading.
maybe a store or place that accepts payments using bitcoin immediately sells their instant bitcoin after receiving the payment, I don't know how they deal with it, but clearly they still accept payments using bitcoin even though the conditions are not stable.

Most of the stores that I know, they immediately sell their bitcoin after they fully receive it into their wallet. They do that in order to secure the profit and not get a chance to lose any of their sale. They are just accepting bitcoin because they want to attract new customers, obviously the cryptocurrency enthusiasts to increase their sales.

naikturun

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Quote from: FLoving on January 18, 2020, 01:53:31 PM

There is a risk in everything but still I do not agree with the point that bitcoin is not that good as currency. I am using bitcoin from a longer time and from that time I am observing that bitcoin is much better than any other currency which the states are using for themselves. Instead of that which is said in the title I will say national currency is not that good as bitcoin.

of course not good because the price is unstable and very volatile.
so bitcoin is widely used as a futures investment or daily trading.
maybe a store or place that accepts payments using bitcoin immediately sells their instant bitcoin after receiving the payment, I don't know how they deal with it, but clearly they still accept payments using bitcoin even though the conditions are not stable.

acroman08

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Quote from: k@suy on January 17, 2020, 11:59:38 AM

Honestly speaking if you are just gonna trade you wouldnt be rich because of the volatility of bitcoin. Look I am not against in cryptocurrency but this is not a permanent job as a trader most especially if you have a family to woek for and a kids to support. You're still need to find a permanent job even if its not a long but at least you have a fixed salary because here the price of the bitcoin is volatile sometimes it rises but most of the time it decreases.

a lot of traders consider being a trader a permanent job or at least their main job. as long as there is a market available and they have funds they can trade and like it or not there are people who have gotten
rich for being a trader may it be trading in FIAT, stocks or bitcoin etc.. also, there is a called term buy and sell. most bitcoin traders in order to gain profit they tend to buy when the bitcoin price is low and sell
when the price increased, in other words, most bitcoin traders rely on bitcoin's volatile nature in order to gain a profit.

FLoving

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Quote from: criza on January 18, 2020, 07:27:37 AM

Quote from: deisik on January 18, 2020, 03:40:06 AM

Quote from: k@suy on January 17, 2020, 11:59:38 AM

Honestly speaking if you are just gonna trade you wouldnt be rich because of the volatility of bitcoin. Look I am not against in cryptocurrency but this is not a permanent job as a trader most especially if you have a family to woek for and a kids to support. You're still need to find a permanent job even if its not a long but at least you have a fixed salary because here the price of the bitcoin is volatile sometimes it rises but most of the time it decreases.

I somewhat disagree with this view

Crypto has been sticking around for how long, like 10 years? Indeed, the first few years it was mostly about Bitcoin only, and rather more like a toy than a real deal. But the point is, it is not going away any time soon, so why not make it a major source of income if you can? People are making a living out of all possible sorts of activities (like youtubing, cam whoring, or whatever), so how is cryptocurrency different in this regard, and how less permanent is it? Simply put, "fixed salaries" are greatly exaggerated

For me, it is because of the uncertainty of crypto currency. The volatile nature of it makes it a good investment but, is also risky. Investing in crypto currency wouldn't be sure especially if you still don't have enough experience. It can't be a major source of income for people because, the prices are not fixed and even with the chance to earn a lot of profit, there is still the risk of losing money.

There is risk in the crypto market but still It is more quick, certain and inexpensive than the paper currency. The Blockchain offers you a secure system of transactions in which they are stored in block with unique codes such safety and security is not offered by paper currency. The risk element is found in all types of business you cannot characterize cryptocurrency uncertain on the basis of it.

There is a risk in everything but still I do not agree with the point that bitcoin is not that good as currency. I am using bitcoin from a longer time and from that time I am observing that bitcoin is much better than any other currency which the states are using for themselves. Instead of that which is said in the title I will say national currency is not that good as bitcoin.

criza

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Quote from: deisik on January 18, 2020, 03:40:06 AM

Quote from: k@suy on January 17, 2020, 11:59:38 AM

Honestly speaking if you are just gonna trade you wouldnt be rich because of the volatility of bitcoin. Look I am not against in cryptocurrency but this is not a permanent job as a trader most especially if you have a family to woek for and a kids to support. You're still need to find a permanent job even if its not a long but at least you have a fixed salary because here the price of the bitcoin is volatile sometimes it rises but most of the time it decreases.

I somewhat disagree with this view

Crypto has been sticking around for how long, like 10 years? Indeed, the first few years it was mostly about Bitcoin only, and rather more like a toy than a real deal. But the point is, it is not going away any time soon, so why not make it a major source of income if you can? People are making a living out of all possible sorts of activities (like youtubing, cam whoring, or whatever), so how is cryptocurrency different in this regard, and how less permanent is it? Simply put, "fixed salaries" are greatly exaggerated

For me, it is because of the uncertainty of crypto currency. The volatile nature of it makes it a good investment but, is also risky. Investing in crypto currency wouldn't be sure especially if you still don't have enough experience. It can't be a major source of income for people because, the prices are not fixed and even with the chance to earn a lot of profit, there is still the risk of losing money.

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Quote from: k@suy on January 17, 2020, 11:59:38 AM

Honestly speaking if you are just gonna trade you wouldnt be rich because of the volatility of bitcoin. Look I am not against in cryptocurrency but this is not a permanent job as a trader most especially if you have a family to woek for and a kids to support. You're still need to find a permanent job even if its not a long but at least you have a fixed salary because here the price of the bitcoin is volatile sometimes it rises but most of the time it decreases.

I somewhat disagree with this view

Crypto has been sticking around for how long, like 10 years? Indeed, the first few years it was mostly about Bitcoin only, and rather more like a toy than a real deal. But the point is, it is not going away any time soon, so why not make it a major source of income if you can? People are making a living out of all possible sorts of activities (like youtubing, cam whoring, or whatever), so how is cryptocurrency different in this regard, and how less permanent is it? Simply put, "fixed salaries" are greatly exaggerated

FlightyPouch

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Quote from: k@suy on January 17, 2020, 11:59:38 AM

Quote from: FlightyPouch on January 17, 2020, 09:32:22 AM

Quote from: judaspriest on January 11, 2020, 09:18:55 AM

Quote from: elisabetheva on January 10, 2020, 07:05:57 PM

Quote from: bobitza on January 10, 2020, 09:46:22 AM

I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC.

maybe each person will have a different analysis in exposing bitcoin, I agree that bitcoin does not have market price stability. but I might be different about investing in bitcoin, because it is very good for long-term investment. it takes patience and is not quick to panic in exposing the price of bitcoin which is rapidly changing, but with good analysis it will get very positive results.

In the past, Bitcoin was very good for the long term,
but for now I think it is very difficult to predict the price of bitcoin and is it still good to invest here in the long term.

Well, I think it is still good for a long term investment since with the volatility intact, the price will continue to change and we can expect a pumped price in the future, beside it, we can also expect a low price. We don't know what might happen, but the possibility of bitcoin pumping and dumping is always there.

Honestly speaking if you are just gonna trade you wouldnt be rich because of the volatility of bitcoin. Look I am not against in cryptocurrency but this is not a permanent job as a trader most especially if you have a family to woek for and a kids to support. You're still need to find a permanent job even if its not a long but at least you have a fixed salary because here the price of the bitcoin is volatile sometimes it rises but most of the time it decreases.

Well, I have a job and the reason that I said it is unpredictable means I don't rely on the profit that I am getting from it. I just said that it is a good long term investment since in my experience, as I save some of my earned bitcoin, the profit is increasing in time but as I said, no one can predict what might happen so I just save it in my wallet, convert some of them sometimes in other alts.

k@suy

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Quote from: FlightyPouch on January 17, 2020, 09:32:22 AM

Quote from: judaspriest on January 11, 2020, 09:18:55 AM

Quote from: elisabetheva on January 10, 2020, 07:05:57 PM

Quote from: bobitza on January 10, 2020, 09:46:22 AM

I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC.

maybe each person will have a different analysis in exposing bitcoin, I agree that bitcoin does not have market price stability. but I might be different about investing in bitcoin, because it is very good for long-term investment. it takes patience and is not quick to panic in exposing the price of bitcoin which is rapidly changing, but with good analysis it will get very positive results.

In the past, Bitcoin was very good for the long term,
but for now I think it is very difficult to predict the price of bitcoin and is it still good to invest here in the long term.

Well, I think it is still good for a long term investment since with the volatility intact, the price will continue to change and we can expect a pumped price in the future, beside it, we can also expect a low price. We don't know what might happen, but the possibility of bitcoin pumping and dumping is always there.

Honestly speaking if you are just gonna trade you wouldnt be rich because of the volatility of bitcoin. Look I am not against in cryptocurrency but this is not a permanent job as a trader most especially if you have a family to woek for and a kids to support. You're still need to find a permanent job even if its not a long but at least you have a fixed salary because here the price of the bitcoin is volatile sometimes it rises but most of the time it decreases.

FlightyPouch

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Quote from: judaspriest on January 11, 2020, 09:18:55 AM

Quote from: elisabetheva on January 10, 2020, 07:05:57 PM

Quote from: bobitza on January 10, 2020, 09:46:22 AM

I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC.

maybe each person will have a different analysis in exposing bitcoin, I agree that bitcoin does not have market price stability. but I might be different about investing in bitcoin, because it is very good for long-term investment. it takes patience and is not quick to panic in exposing the price of bitcoin which is rapidly changing, but with good analysis it will get very positive results.

In the past, Bitcoin was very good for the long term,
but for now I think it is very difficult to predict the price of bitcoin and is it still good to invest here in the long term.

Well, I think it is still good for a long term investment since with the volatility intact, the price will continue to change and we can expect a pumped price in the future, beside it, we can also expect a low price. We don't know what might happen, but the possibility of bitcoin pumping and dumping is always there.

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Quote from: Smitty Werben Man Jensen on January 17, 2020, 05:58:58 AM

Quote from: Barbarian on January 16, 2020, 11:21:37 PM

Quote from: judaspriest on January 11, 2020, 09:18:55 AM

Quote from: elisabetheva on January 10, 2020, 07:05:57 PM

Quote from: bobitza on January 10, 2020, 09:46:22 AM

I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC.

maybe each person will have a different analysis in exposing bitcoin, I agree that bitcoin does not have market price stability. but I might be different about investing in bitcoin, because it is very good for long-term investment. it takes patience and is not quick to panic in exposing the price of bitcoin which is rapidly changing, but with good analysis it will get very positive results.

In the past, Bitcoin was very good for the long term,
but for now I think it is very difficult to predict the price of bitcoin and is it still good to invest here in the long term.

You are talking as if that was a very long time ago and as if that was not true anymore, bitcoin is a very good long term investment, I have began to see the value of some stocks and even if you held them for 20 years you would not have gotten much out of them and you would have been unable to beat inflation with that kind of growth, but if you bought bitcoin at the beginning of the previous year right now you will have profits above 100%.

stocks and Bitcoin are clearly very different, in Bitcoin it could be a decline in a day can reach 50% then what do you do? indeed it is very difficult to overcome volatility at this time, but if you trade calmly without joining FOMO you will not be affected by REKT

right, high fluctuations will reduce or add value significantly, and this is a big problem, in cryptocurrency, no one can control it, especially now with a minimal amount of bitcoiner, which is still difficult to suppress fluctuations. coupled with its anonymous nature, which is very vulnerable to abuse

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Quote from: Barbarian on January 16, 2020, 11:21:37 PM

Quote from: judaspriest on January 11, 2020, 09:18:55 AM

Quote from: elisabetheva on January 10, 2020, 07:05:57 PM

Quote from: bobitza on January 10, 2020, 09:46:22 AM

I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC.

maybe each person will have a different analysis in exposing bitcoin, I agree that bitcoin does not have market price stability. but I might be different about investing in bitcoin, because it is very good for long-term investment. it takes patience and is not quick to panic in exposing the price of bitcoin which is rapidly changing, but with good analysis it will get very positive results.

In the past, Bitcoin was very good for the long term,
but for now I think it is very difficult to predict the price of bitcoin and is it still good to invest here in the long term.

You are talking as if that was a very long time ago and as if that was not true anymore, bitcoin is a very good long term investment, I have began to see the value of some stocks and even if you held them for 20 years you would not have gotten much out of them and you would have been unable to beat inflation with that kind of growth, but if you bought bitcoin at the beginning of the previous year right now you will have profits above 100%.

stocks and Bitcoin are clearly very different, in Bitcoin it could be a decline in a day can reach 50% then what do you do? indeed it is very difficult to overcome volatility at this time, but if you trade calmly without joining FOMO you will not be affected by REKT

Barbarian

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Quote from: judaspriest on January 11, 2020, 09:18:55 AM

Quote from: elisabetheva on January 10, 2020, 07:05:57 PM

Quote from: bobitza on January 10, 2020, 09:46:22 AM

I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC.

maybe each person will have a different analysis in exposing bitcoin, I agree that bitcoin does not have market price stability. but I might be different about investing in bitcoin, because it is very good for long-term investment. it takes patience and is not quick to panic in exposing the price of bitcoin which is rapidly changing, but with good analysis it will get very positive results.

In the past, Bitcoin was very good for the long term,
but for now I think it is very difficult to predict the price of bitcoin and is it still good to invest here in the long term.

You are talking as if that was a very long time ago and as if that was not true anymore, bitcoin is a very good long term investment, I have began to see the value of some stocks and even if you held them for 20 years you would not have gotten much out of them and you would have been unable to beat inflation with that kind of growth, but if you bought bitcoin at the beginning of the previous year right now you will have profits above 100%.

sisule

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Quote from: Wexlike on January 11, 2020, 08:12:09 AM

Quote from: bobitza on January 10, 2020, 09:46:22 AM

I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC.

So what? Price volatility is a good thing for investors. Every currency has price instability unless it is pegged to another fiat currency and backed with debt from a central bank. How successful this method of stability is can be seen in the Swiss Franc/Euro coupling or the egypt riad / dollar or .. or.. or.

But Bitcoin WILL growth to the most stable world currency that we ever know.

Bitcoin only ten years old and need more time how bitcoin could growing up and become most friendly payment currency at the future, compare with USD, EURO and other payment way I think is not fair because above payment have been thousand years and bitcoin only running about ten years, give space and time for bitcoin how to be global currency payment at the future and replace with fiat currency payment.

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C O M B O

Quote from: elisabetheva on January 10, 2020, 07:05:57 PM

Quote from: bobitza on January 10, 2020, 09:46:22 AM

I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC.

maybe each person will have a different analysis in exposing bitcoin, I agree that bitcoin does not have market price stability. but I might be different about investing in bitcoin, because it is very good for long-term investment. it takes patience and is not quick to panic in exposing the price of bitcoin which is rapidly changing, but with good analysis it will get very positive results.

In the past, Bitcoin was very good for the long term,
but for now I think it is very difficult to predict the price of bitcoin and is it still good to invest here in the long term.

Wexlike

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Quote from: bobitza on January 10, 2020, 09:46:22 AM

I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC.

So what? Price volatility is a good thing for investors. Every currency has price instability unless it is pegged to another fiat currency and backed with debt from a central bank. How successful this method of stability is can be seen in the Swiss Franc/Euro coupling or the egypt riad / dollar or .. or.. or.

But Bitcoin WILL growth to the most stable world currency that we ever know.

Wipeout2097

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Its all abut mentality approach that how you see the things,If we ask a crypto lover will criticize the government and if we ask from a central bank authority about crypto will criticize the cryto currency.How we came to know the reality it is our own personal research.

If Bitcoin properly not handled will affect the economy,may be inflation increase and the people will use it for make making black money into white money.Government should legalize and allow a platform where buyers and sellers complete KYC and then use that platform.It will help to find out the users if they are using BTC for illegal activities.

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Quote from: bobitza on January 10, 2020, 09:46:22 AM

I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC

You don't specify which currency you compare Bitcoin with

You see, there are over 200 countries in the world (and counting), while the total majority of them have their own currencies (apart from a few exceptions like Panama and a small number of other massively dollarized nations). And you know what? The performance of most currencies in the world are fucking ridiculous compared to Bitcoin on a long enough time scale, going to outright pathetic in like a dozen of years. Fiat is intentionally made to be depreciating with time, so it is only a matter of time (pardon the tautology)

Bitcoin is insanely volatile for a currency, a currency like the American dollar, British pound, or Swiss franc. But these are crème de la crème among currencies of the world. Besides, Bitcoin is volatile in the truest sense of the word, i.e. its price (say, in dollars) can go down but then it inevitably rebounds, and often with a vengeance at that. This is definitely not the case with regular currencies which can only sink and then sink lower, at different rates -- some fast, some slow, and some collapsing like the Venezuelan bolivar or Zimbabwean dollar

crossabdd

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the country's currency currently only enslaves its people. or to destroy other countries. it has been proven. as a reference is the dollar. which most international transactions use dollars. so that other currencies do not have great value, except in their own country. Bitcoin is here to equalize all of that. so that no country / community is depressed. if using conventional currency, the price of one item here will be different in other countries. but with bitcoin. price will remain the same. I agree if bitcoin can alleviate social inequalities. and can be used for cooperation to advance the countries of the world.

Barbarian

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Quote from: bobitza on January 10, 2020, 09:46:22 AM

I agree with you! Bitcoin has no market price stability like currency. The price of bitcoin varies from time to time: sometimes up and sometimes down. So many people who are not bold in investing in Bitcoin don't even dare to invest in Bitcoin. In fact, many countries do not accept BTC.

But that instability was to be expected, we are literally seeing the birth of a currency and how people begin to adapt to it, there are only a few million people that are using bitcoin and as that number of people increases or decreases then it makes sense the price of bitcoin to change depending on the circumstances, this instability is not going to last forever, as soon as bitcoin is adopted by a significant amount of population around the world then the volatility is going to go down and it is going to become more manageable and bitcoin will become a better currency.

Karmakid

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Bitcoin is not good as the currencies that we used to because it is better than the traditional currencies. Bitcoin is decentralized so there is no chance for the government to mess with us because they do not have the authority to do that. Bitcoin is also digital so it is easy to transfer and it will leave no traces which makes you a complete anonymous in the internet.

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