Will Bitcoin volatility prevent adoption? - page 4.

Menawi12

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Quote from: audaciousbeing on April 19, 2018, 04:09:29 AM

Quote from: andika2018 on April 19, 2018, 03:35:06 AM

Quote from: dollarneed on April 18, 2018, 07:53:52 PM

This is why some businesses do not use bitcoin as a direct payment method but use a third party like bitpay. Bitcoin is still very young and takes a long time to become a mature currency. Volatility is also an issue that is always lifted by the media to frighten people to not go into bitcoin however some people especially those who do trade think volatility is good because it can make them rich in a short time, so is it prevent adoption? I'm not sure.

Acctually, volatility happen on fiat money too. The different thing is fiat money fluctuation can controlled by central banks and bitcoin fluctuation no one can control because using decentralize system. Indeed bitcoin is young currency and its takes time to make people knowing more about bitcoin as currency

The bolded part is spot on and that is what people are not realizing but at the same time the regulation boost the confidence of people in fiat for them to use as medium of exchange the moment that is being eroded, there is nothing to be done again. In the case of bitcoin, both period of volatility and stability have their own advantage and disadvantages what matters are the players in the market. For me, I would prefer this moment of volatility than a stable period because while the risk is high, so also the opportunity to make profit is also high and I am ready to take it.

However, the accumulation of all of those who are enjoying this period is not compared to the players that would come in when the volatility is not there any longer because multinationals with huge funds can then come in. Imagine Bill Gates being rich into bitcoin, now lets compare it with Microsoft coming into bitcoin itself because of trust. Its then safe to say we should pursue the happiness of many as against the few that we have now and yes volatility is stopping adoption.

Indeed, when the risk more high, there is big opportunity behind that risk. In volatile market, high risk always happen and what we should do is minimizing that risk and thats why many peoples call high risk high yield.

gantez

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Quote from: shahani on February 11, 2018, 09:12:55 PM

Many people do not want volatility and deflation system, but how can bitcoin operate smoothly if these system will not apply? Bitcoin cannot move a long life operation if volatility and deflation will not apply. It is the way on how the management provide a good balance system between users and operators.

This is a simple way to explain to people and thats the way bitcoin is designed to operate because nobody control its mode. This is one reason it is going to be difficult to adopt too.

katrimans

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Quote from: 1C6fV5DtakfKANLJ8GUV7hCaA on April 19, 2018, 12:23:04 AM

No. Volatility is normal for young markets. ICOs that scam MILLIONS OF DOLLARS will prevent adaption. Take my word for that.

Now that you have mentioned about scam ICOs, the digital market is a good platform for scammers. There have already been such projects that were just scam. Many crypto coins were just a trap for attracting innocent people to make investment like the Centra. That is why I recommend any newcomer to stick with the old coins like bitcoin and Ethereum which are trusted by all.

audaciousbeing

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Quote from: andika2018 on April 19, 2018, 03:35:06 AM

Quote from: dollarneed on April 18, 2018, 07:53:52 PM

This is why some businesses do not use bitcoin as a direct payment method but use a third party like bitpay. Bitcoin is still very young and takes a long time to become a mature currency. Volatility is also an issue that is always lifted by the media to frighten people to not go into bitcoin however some people especially those who do trade think volatility is good because it can make them rich in a short time, so is it prevent adoption? I'm not sure.

Acctually, volatility happen on fiat money too. The different thing is fiat money fluctuation can controlled by central banks and bitcoin fluctuation no one can control because using decentralize system. Indeed bitcoin is young currency and its takes time to make people knowing more about bitcoin as currency

The bolded part is spot on and that is what people are not realizing but at the same time the regulation boost the confidence of people in fiat for them to use as medium of exchange the moment that is being eroded, there is nothing to be done again. In the case of bitcoin, both period of volatility and stability have their own advantage and disadvantages what matters are the players in the market. For me, I would prefer this moment of volatility than a stable period because while the risk is high, so also the opportunity to make profit is also high and I am ready to take it.

However, the accumulation of all of those who are enjoying this period is not compared to the players that would come in when the volatility is not there any longer because multinationals with huge funds can then come in. Imagine Bill Gates being rich into bitcoin, now lets compare it with Microsoft coming into bitcoin itself because of trust. Its then safe to say we should pursue the happiness of many as against the few that we have now and yes volatility is stopping adoption.

andika2018

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Quote from: dollarneed on April 18, 2018, 07:53:52 PM

This is why some businesses do not use bitcoin as a direct payment method but use a third party like bitpay. Bitcoin is still very young and takes a long time to become a mature currency. Volatility is also an issue that is always lifted by the media to frighten people to not go into bitcoin however some people especially those who do trade think volatility is good because it can make them rich in a short time, so is it prevent adoption? I'm not sure.

Acctually, volatility happen on fiat money too. The different thing is fiat money fluctuation can controlled by central banks and bitcoin fluctuation no one can control because using decentralize system. Indeed bitcoin is young currency and its takes time to make people knowing more about bitcoin as currency

bitkanu

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Quote from: Thanasis on April 19, 2018, 03:17:22 AM

Yes,the volatility restricts the bitcoin to be used as a currency so it maybe the reason for not accepted as a direct mode of payment in many places.But this also the reason why it is well developed as a means of investment among the people so the volatility of the bitcoin stops as using as currrency but it the main reason more people buying it to make some quick money.

Depsite the fact that the volatility itself could be taken advantages of or even could make us earning money in an easy way but it's still prevent the adoption as what bitcoin initially aimed to be, as the means of spending to replace the current traditional paper money and revolutionize the whole economic system into a better ones.

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Yes,the volatility restricts the bitcoin to be used as a currency so it maybe the reason for not accepted as a direct mode of payment in many places.But this also the reason why it is well developed as a means of investment among the people so the volatility of the bitcoin stops as using as currrency but it the main reason more people buying it to make some quick money.

Notcalculator

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It does. However, volatility attracts a certain crowd itself. It attracts people just looking for a quick profit.

Who knows if it will ever go to mass adoption. The community is growing slow compared to any other break through technology, so one might argue that if it is truly needed, why is the adoption so slow? I think the answer is, since it has something to do with money, people are skeptical about the underlying technology. Thus they refuse to adopt it.

Im not sure if inflation could solve the problem. Especially since there's no clear way to do it. Maybe we could just give up that btc would be an everyday currency. It could still reach mass adoption as "digital" gold.

rogjbel

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Perhaps, bitcoin volatility will matter the adoption of BTC but in minimal way. But as long as Microsoft is still accepting it, there always be a bitcoin to exist even until the next generation.

Finestream

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Quote from: dollarneed on April 18, 2018, 07:53:52 PM

This is why some businesses do not use bitcoin as a direct payment method but use a third party like bitpay. Bitcoin is still very young and takes a long time to become a mature currency. Volatility is also an issue that is always lifted by the media to frighten people to not go into bitcoin however some people especially those who do trade think volatility is good because it can make them rich in a short time, so is it prevent adoption? I'm not sure.

I think bitcoin's volatility is really a big factor not to make it as a national currency.But in my own opinion,i never dreamed of making it as a national currency because for sure lot of higher people in the institutions will develop their own greediness for bitcoin.Honestly,with bitcoin's current position,its already been greatly benefited by the people and i think in the coming years ahead,it will be more profitable by the people.So much contented for bitcoin's performance today.

1C6fV5DtakfKANLJ8GUV7hCaA

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No. Volatility is normal for young markets. ICOs that scam MILLIONS OF DOLLARS will prevent adaption. Take my word for that.

atrocityx

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For sure it will prevent adoption as a currency but in my mind Bitcoin already fails as a currency so I don't really view this as a problem. I'd say BTC could realistically reach 100k in value with its ONLY use cases being a liaison between USD and altcoins and being a store of value. Bitcoin trying to be currency is in my opinion, just set it up for failure. With decentralization, you're gonna have to give up something, better to be best at your best skills over being mediocre at everything.

cahbagus555

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In my opinion, If bitcoin price become stable compare with USD, thats means bitcoin should be controlled by any institution and thats mean USD should reducing supply. From what i can see, bitcoin have limited supply and price always depending on market partipation and not by regulator.

klasik1980

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Price volatility has plagued Bitcoin from nearly the beginning. With what we have learned over the better part of a decade, why have cryptocurrencies still not solved this problem of fluctuating prices?

Human nature gets in the way, as it tends to do. It is difficult to stabilize prices in a world where people would rather play the market and get instant gratification by re-selling their coins for as high a price as possible. Without careful planning from the very onset of a cryptocurrency’s existence, it’s hard to recover from the effects of speculation.

dollarneed

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This is why some businesses do not use bitcoin as a direct payment method but use a third party like bitpay. Bitcoin is still very young and takes a long time to become a mature currency. Volatility is also an issue that is always lifted by the media to frighten people to not go into bitcoin however some people especially those who do trade think volatility is good because it can make them rich in a short time, so is it prevent adoption? I'm not sure.

Harrisonimo

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Well, to some extent the Bitcoin high volatility rate has been scaring a lot from the Cryptocurrency markets for quite a while but from the look of things, I believe that this area is being dealt with and we are observing some smooth trendings of the Bitcoin price.

BitHodler

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Quote from: richardsNY on April 18, 2018, 07:08:31 PM

Volatility is more a potential issue for parties like the SEC when it comes to considering approval of an ETF for example, which have all been rejected where volatility and Bitcoin's unregulated market were the main incentives. Even fund insurance wasn't enough to satisfy the SEC.

I personally think that in that specific time frame the market was indeed not ready for an ETF, which right now might be completely different. Regulations are being thrown out these days like never before.

I can remember that the Winklevoss ETF was granted a review by the SEC, but so much time has gone over that, and still nothing happened, and not even one thing about that is being covered in the media, which is weird.

If it was rejected it would be known, and if it was approved it would be known as well. It's probably pure speculation, but couldn't it be that the Winklevoss ETF has been pulled back by the Winklevoss themselves?

If anyone knows more about this please share what you know. It was a pretty big deal at that point, and suddenly there is complete silence, which isn't normal in my opinion, but who am I?

xuan87

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I think the volatility does affect the adoption of Bitcoin, the volatility of Bitcoin is very big and quite often, it makes people rethink again to used it daily, theoretically the mass adoption will make the fluctuation become smaller and slower, but in this early stage of adoption, the shop will be having difficulty to adopt Bitcoin because the price moved a lot

richardsNY

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Quote from: Snaic on April 18, 2018, 02:42:00 PM

The last increase of bitcoin in December last year presented bitcoin as a financial bubble and therefore many states began to warn their citizens about the greater risks of investing in bitcoin. This also serves as a big obstacle to the full legalization of the crypto currency.

Governments and central banks have always been 'warning' people for the risks involved in crypto, which makes sense to a certain extent if it remains just a warning as in raising awareness. If they on top of that use it to preach against crypto in the way that it is fraudulent or shady, then their agenda is clear. Regulations aren't strictly related or based on the volatility involved. It might influence things a bit, but it shouldn't be a major factor preventing regulations from being implemented. Volatility is more a potential issue for parties like the SEC when it comes to considering approval of an ETF for example, which have all been rejected where volatility and Bitcoin's unregulated market were the main incentives. Even fund insurance wasn't enough to satisfy the SEC.

suhoy

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I think that it's reasonable - serious businesses cannot rely on such a windy thing. BTC needs time to become really mature.

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