Will it ever be possible to control BTC price?

turvarya

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Activity: 714

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Quote from: Hamuki on March 16, 2015, 07:36:11 AM

Quote from: turvarya on March 16, 2015, 07:29:17 AM

People just have the misconception, that fiat price is controlled by the government.
Do you want the truth about how stable the USD is? The Chinese could destroy it in a matter of hours maybe days, if they wanted to.

Looking at the BTC/USD-rate and than talking about 1 USD=1 USD is also just a pretty stupid USA-centric way to look at it.
You can look at exchange rates to other currencies. You can go to Walmart and look what a loaf of bread costs in comparison to a certain point in the past. That is how you determine the value/volatility of a currency, not by saying 1 XYZ = 1 XYZ.

So, drop the "USD is stable"-Bullshit, if you want a serious discussion and than we can talk about, why USD is more stable than BTC.

btw.

Quote

Im not talking about having large funds and making sure that the price cant move,

is one of the reasons for that.

Not saying that it is stable like that.. But I mean when you go to the store you pay the same 2$ for a coke one day from another.

And dont be so harsh with the language.. I dont support the US system either.
I am Danish so I live in a very different culture then people from the US.

All I am saying is that the price isnt as volatile as BTC.

Still, when ever someone tells you "but [insert fiat currency] is controlled by [government/central bank]" just tell them: No, it is fucking not. same in the EU.
You can't talk about the advantages of BTC over fiat with people, who have no idea about fiat.

But coming back to your question: How do you make the BTC-price stable. The best way, is just to use it. When there is a lot of daily trading volume, the price can not be manipulated that easy.

Onestopbrokers Directory

newbie

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The BTC price is difficult to control with no centralised system.

For the technology behind, as stated in the release http://www.onestopbrokers.com/2015/03/16/ibm-looking-adopting-bitcoin-technology-major-currencies/ IBM is one of a number of tech companies looking to expand the use of the blockchain technology[/i].

Hamuki

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Activity: 1022

Merit: 1000

Quote from: turvarya on March 16, 2015, 07:29:17 AM

People just have the misconception, that fiat price is controlled by the government.
Do you want the truth about how stable the USD is? The Chinese could destroy it in a matter of hours maybe days, if they wanted to.

Looking at the BTC/USD-rate and than talking about 1 USD=1 USD is also just a pretty stupid USA-centric way to look at it.
You can look at exchange rates to other currencies. You can go to Walmart and look what a loaf of bread costs in comparison to a certain point in the past. That is how you determine the value/volatility of a currency, not by saying 1 XYZ = 1 XYZ.

So, drop the "USD is stable"-Bullshit, if you want a serious discussion and than we can talk about, why USD is more stable than BTC.

btw.

Quote

Im not talking about having large funds and making sure that the price cant move,

is one of the reasons for that.

Not saying that it is stable like that.. But I mean when you go to the store you pay the same 2$ for a coke one day from another.

And dont be so harsh with the language.. I dont support the US system either.
I am Danish so I live in a very different culture then people from the US.

All I am saying is that the price isnt as volatile as BTC.

thugster

newbie

Activity: 18

Merit: 0

I dont see a way how government can control the funds and all. afterall bitcoin is based on peer to peer transactions, and the only way to manipulate price is by holding bitcoin(and you have said that you are not talking about holding large quatity of bitcoin) so no they cannot affect the price of bitcoin.

turvarya

hero member

Activity: 714

Merit: 500

People just have the misconception, that fiat price is controlled by the government.
Do you want the truth about how stable the USD is? The Chinese could destroy it in a matter of hours maybe days, if they wanted to.

Looking at the BTC/USD-rate and than talking about 1 USD=1 USD is also just a pretty stupid USA-centric way to look at it.
You can look at exchange rates to other currencies. You can go to Walmart and look what a loaf of bread costs in comparison to a certain point in the past. That is how you determine the value/volatility of a currency, not by saying 1 XYZ = 1 XYZ.

So, drop the "USD is stable"-Bullshit, if you want a serious discussion and than we can talk about, why USD is more stable than BTC.

btw.

Quote

Im not talking about having large funds and making sure that the price cant move,

is one of the reasons for that.

Hamuki

legendary

Activity: 1022

Merit: 1000

Quote from: innocent93 on March 16, 2015, 07:20:34 AM

Quote from: Hamuki on March 16, 2015, 06:48:08 AM

Would it ever be possible to have control over the price of BTC to make it extremely stable?

Im not talking about having large funds and making sure that the price cant move, but if governments are able to somehow control everything all of a sudden.

Large funds is able to control prices but there is no way to keep the price stable, Bitcoin is a free market, no one can control it forever, even the government.

Quote from: Hamuki on March 16, 2015, 06:48:08 AM

I saw a other thread that IBM was getting into crypto with their own kind of coin like BTC..
How likely is it that they will succeed?

They plan to develop a system with blockchain technology which is come from Bitcoin technology, Accurately speaking, it's not a crypto thing I guess.

Hmm... But still I guess its good that the tech is being used from BTC/Blockchain and will get more known so maybe even BTC will get a little more attention

innocent93

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Quote from: Hamuki on March 16, 2015, 06:48:08 AM

Would it ever be possible to have control over the price of BTC to make it extremely stable?

Im not talking about having large funds and making sure that the price cant move, but if governments are able to somehow control everything all of a sudden.

Large funds is able to control prices but there is no way to keep the price stable, Bitcoin is a free market, no one can control it forever, even the government.

Quote from: Hamuki on March 16, 2015, 06:48:08 AM

I saw a other thread that IBM was getting into crypto with their own kind of coin like BTC..
How likely is it that they will succeed?

They plan to develop a system with blockchain technology which is come from Bitcoin technology, Accurately speaking, it's not a crypto thing I guess.

Hamuki

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Activity: 1022

Merit: 1000

Quote from: Kazimir on March 16, 2015, 06:55:16 AM

Quote from: Hamuki on March 16, 2015, 06:48:08 AM

I saw a other thread that IBM was getting into crypto with their own kind of coin like BTC..
How likely is it that they will succeed?

Completely unlikely. If they (or banks, or anyone) are in control of it, it's by definition not a cryptocurrency, but just another form of fiat. Same old crap.

However, the the "BTC price" is not the issue on the long term. Has the "Dollar price" been an issue? Thing is, once we express the value of things directly in bitcoins (e.g. after the Euro and Dollar have fallen or gone bankrupt) rather than still converting everything back to fiat, the price or rate doesn't matter anymore.

What I hear from people that I tell about BTC, they see the price chart go from low hundreds to above 1k and then all of a sudden it falls and since then have been very volatile.

There is a difference because a dollar is always a dollar, and you can use it everywhere (Within the country ofc) but BTC is so volatile that it does scare people off.

Why hold a currency that can plummit in seconds as a big business?

I am not trying to spread FUD or anything.. I am just critical and I am trying to understand how a business see's BTC.

Kazimir

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Quote from: Hamuki on March 16, 2015, 06:48:08 AM

I saw a other thread that IBM was getting into crypto with their own kind of coin like BTC..
How likely is it that they will succeed?

Completely unlikely. If they (or banks, or anyone) are in control of it, it's by definition not a cryptocurrency, but just another form of fiat. Same old crap.

However, the the "BTC price" is not the issue on the long term. Has the "Dollar price" been an issue? Thing is, once we express the value of things directly in bitcoins (e.g. after the Euro and Dollar have fallen or gone bankrupt) rather than still converting everything back to fiat, the price or rate doesn't matter anymore.

Hamuki

legendary

Activity: 1022

Merit: 1000

I have been thinking lately...

A lot of people dont like BTC because its able to move so much in price in the matter of seconds.
Would it ever be possible to have control over the price of BTC to make it extremely stable?

Im not talking about having large funds and making sure that the price cant move, but if governments are able to somehow control everything all of a sudden.

I saw a other thread that IBM was getting into crypto with their own kind of coin like BTC..
How likely is it that they will succeed?

~Hamuki

Topic: Will it ever be possible to control BTC price? (Read 898 times)