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Title: please delete Post by: SapphireSpire on February 18, 2021, 08:07:53 PM nothing to see
Title: Re: Is it really a benefit that nobody controls the price? Post by: DoublerHunter on February 18, 2021, 08:16:39 PM ^ You did not probably fully understand what is the function of BTC and how affects the price to become volatile.
Because BTC has a fixed amount and the price varied on the demand and supply in the market cap. Once the demand will increase, it means the supply becomes less which in turn to BTC becomes expensive and the price was pegged into a dollar-based value. Nevertheless, it is impossible that you mean BTC will become stable in price, the price will always be fluctuated due to massive traders of altcoins in BTC pairs. Title: Re: Is it really a benefit that nobody controls the price? Post by: dunfida on February 18, 2021, 09:07:42 PM ^ You did not probably fully understand what is the function of BTC and how affects the price to become volatile. Simple Economics class/subject would really tell you everything.I dont know why there are people whom do really talk about bitcoins stable price?Because BTC has a fixed amount and the price varied on the demand and supply in the market cap. Once the demand will increase, it means the supply becomes less which in turn to BTC becomes expensive and the price was pegged into a dollar-based value. Nevertheless, it is impossible that you mean BTC will become stable in price, the price will always be fluctuated due to massive traders of altcoins in BTC pairs. It wont happen no matter what angle we are trying to look at and dont know whats up their basis on saying up those words. When you do get engage with crypto then you should be aware on the risk.Volatility issue? this might be a problem for some but for those who do look for opportunity then this would be a good recipe. Title: Re: Is it really a benefit that nobody controls the price? Post by: JeromeTash on February 18, 2021, 09:26:26 PM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. Ever heard of what we call stable coins like USDT, USDC? Why not accept them instead.Bitcoin was never meant to be a stable coin FYI. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? It's funny how people focus only on dumps. Imagine a merchant who was accepting Bitcoin all the way from the time it was less than 4,000 USD last year to this date when it's $52KSolution- price limits! Stablecoin Stablecoins Stablecoins.We have plenty of them. Title: Re: Is it really a benefit that nobody controls the price? Post by: Oceat on February 18, 2021, 11:00:08 PM It will only have a price limit if Bitcoin is unlimited in supply thus seeing this price today won't be possible.
Expecting a stable price for Bitcoin is not possible because there are lots of factors that would affect the price. Switch to altcoins if you want a stable price, Bitcoin is not created just for that, I guess this is how Satoshi would want to see a value of a currency that's why he created it. Title: Re: Is it really a benefit that nobody controls the price? Post by: abel1337 on February 18, 2021, 11:15:53 PM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? If you want to accept crypto with a stable value, You should better add options like USDT, BUSD, DAI, and other cryptos that doesn't have the volatility to affect your wealth. Bitcoin will never be stable and it will always have the volatility design that it has today. Solution- price limits! I think you are seeing bitcoin in the wrong way, Exchanges wouldn't do what you have written here. Bitcoin in the first place wouldn't reach the current price if this ideology happened lol.If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. Title: Re: Is it really a benefit that nobody controls the price? Post by: wxa7115 on February 19, 2021, 12:57:35 AM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? I'm sorry to say this but you do not understand at all the purpose for bitcoin to exist at all, you say that you like crypto and yet you want to deny their very nature, if you want to trade in a market that is heavily manipulated then you can do it, go to the Forex market and trade there, bitcoin is completely free and you cannot manipulate its supply according to your wishes and when we add it is very limited in nature then volatility is the natural result.Solution- price limits! If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. This happens by design, this is not an accident and if you don't like it there is nothing wrong with that but this is never going to change because it goes against the nature and the purpose of bitcoin, your so called solution is nothing but an attempt to try to somehow force centralized control in something that was designed specifically to avoid such control in the first place. Title: Re: Is it really a benefit that nobody controls the price? Post by: OcTradism on February 19, 2021, 01:19:45 AM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? Price limits, margin of price, circuit breaks. Do you want their existences in crypto market? Do you really want them?Solution- price limits! They will create limits for your loss and your profits. I know most of participants on the market often take profit much lower than peak or all time high prices. They hesitate to cut loss and their cut loss price is exactly or around the bottom price. If circuit breaks or margin of price change is used in crypto market, the most beautiful attraction of this market will be destroyed. However, I think in the future, governments will force exchanges to do more limits and they might include some of your suggestion. It is for the future. Title: Re: Is it really a benefit that nobody controls the price? Post by: uneng on February 19, 2021, 01:29:40 AM It would go totally against decentralized nature of this universe. I think there is no reason to reproduce the stocks market model in crypto currency. Each market has its own characteristics, advantages and disadvantages. If you aren't satisfied with a centralized market you have the option to move your funds to the decentralized one and vice-versa. Makes no sense to have two markets working under the same traditional guidelines.
If crypto worked the way you said probably it wouldn't be the phenom it is today. So better to keep it working this way. Title: Re: Is it really a benefit that nobody controls the price? Post by: Strongkored on February 19, 2021, 03:12:00 AM Solution- price limits! If this is done then Bitcoin is no longer decentralized because there will be a price regulator. Bitcoin price will follow market demand. If you as a merchant feel that the price of Bitcoin is too agile but still want to accept payments from cryptocurrency then stablecoin can be a solution because the price will be the same as Fiat. Title: Re: Is it really a benefit that nobody controls the price? Post by: cryptoaddictchie on February 19, 2021, 03:40:53 AM I dont think this is possible. Its like stock exchange if thats the case. Crypto trading has built through decentralized fashion that's why we can't simply do a correction to all exchanges. That's now how market trading work and definitely will not happening in the future. The price could set high and low whenever the market moves if someone will control it then where is the fun in there?
Title: Re: Is it really a benefit that nobody controls the price? Post by: LUCKMCFLY on February 19, 2021, 04:21:59 AM Limiting the limits of purchases and sales would not be the solution, volatility is something they cannot control, the benefit of no one controlling the price is unique, it alienates banks and governments, and best of all, it obeys so much the law offer and demand like Strong Hands and people's emotions.
The volatility of the Bitcoin market is what makes the difference compared to all existing markets, and the fact that Bitcoin is not backed by gold or oil means that banks and governments have no control of the market. Title: Re: Is it really a benefit that nobody controls the price? Post by: mk4 on February 19, 2021, 05:26:34 AM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? Pretty simple— only hold a certain amount of bitcoin that you're comfortable with. Not to mention that you don't necessarily need to actually hold the bitcoin that you receive through your business.Solution- price limits! That would be quite an oxymoron for an asset that's created for total freedom, wouldn't it?Title: Re: Is it really a benefit that nobody controls the price? Post by: Innerpumper on February 19, 2021, 10:48:32 AM in the cryptocurrency world there is no term controlling price. I think we ourselves are determining the profit because the price keeps going up and on and on forever unruly. Therefore we must properly have a strong analytical science in order to make the right decisions in trading.
Title: Re: Is it really a benefit that nobody controls the price? Post by: Wexnident on February 19, 2021, 11:44:29 AM Err afaik yes? From what I can see it has been quite a benefit that nobody has been able to exert strong control over the price since it would clearly dictate that any amount that people earn by trading it is solely based on their skill of reading on how the community would go from. Bitcoin can be accepted as a coin to be accepted by a merchant yes, but it doesn't really force you to store it in Bitcoin. As others have said, you can clearly use Stablecoins whenever you earn money via crypto to avoid volatility hitting you like a train, and it's an easy fix. Sides, crypto first and foremost was made for freedom, so limiting it is kinda stupid imo. I do want stores to accept Bitcoin myself, but I in no way would force them to let it stay that way since I myself know how volatile it can be.
Title: Re: Is it really a benefit that nobody controls the price? Post by: Kelvinid on February 19, 2021, 01:20:00 PM The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? Let these blind people jump into crypto and the reason why because they saw good things despite the risk and the volatility. I don't know what you are seeing because many people are now enjoying it and that you're not. Anyway, I won't argue with you nor to say that Bitcoin is really a safe haven but there is only one thing I could say to you. Most Risk takers win and since you're not, then this is not the right place for you. We look at Bitcoin as more beneficial, can't be obvious I know as we need to face the risk but in the end, and once we surpass these challenge, everything will be paid off. Title: Re: Is it really a benefit that nobody controls the price? Post by: Findingnemo on February 19, 2021, 01:51:24 PM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? So it is okay to give the price control to the exchanges? Which is even again decentralization the basic thing why everyone need to move to cryptocurrencies. Exchanges don't have such limiting feature a d they should not have it too.Solution- price limits! If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. The market is growing every year so the volatility will reduce with the increase in adoption nit by any limiting feature. Title: Re: Is it really a benefit that nobody controls the price? Post by: The Cryptovator on February 19, 2021, 04:05:47 PM I can't recall the platform but I have seen that they are accepting bitcoin through an exchange to avoid volatility. This means when Bitcoin sent to the platform Bitcoin will receive on the exchange and convert it to fiat. So the platform owner's fund will not affect due to volatility, on the other hand, users are able to pay via Bitcoin. If you are worried about volatility and want to accept Bitcoin as well, most likely you would seek such features. Otherwise only stable coin options are available to accept cryptocurrencies.
Your thoughts make stable Bitcoin via exchange wouldn't happen ever. Because then the crypto game will end. Peoples can't buy that amount they want, can't sell they want, means they will be bounded with the limitation which is against the decentralized ecosystem. You are just talking to kill the decentralized crypto industry and financial freedom. Title: Re: Is it really a benefit that nobody controls the price? Post by: dothebeats on February 19, 2021, 06:05:31 PM Accept bitcoin through a payment processor and you're good to go. If the volatility bothers you too much that's why you can't accept bitcoin on the dot, perhaps integrating bitcoin into your business is not the correct idea atm and you're better off buying your own bitcoin rather than accept it as a form of payment. This way, you still have a stable business on the side, while on the other you are investing on bitcoin and not getting worried about the volatility eating up your sales in a day.
Title: Re: Is it really a benefit that nobody controls the price? Post by: dimonstration on February 19, 2021, 06:11:12 PM It would go totally against decentralized nature of this universe. I think there is no reason to reproduce the stocks market model in crypto currency. Each market has its own characteristics, advantages and disadvantages. If you aren't satisfied with a centralized market you have the option to move your funds to the decentralized one and vice-versa. Makes no sense to have two markets working under the same traditional guidelines. Many finds crypto more profitable and easier to use now that the stock or any other platform since the Pandemic hinders many economic transactions and issues, it's good if we can be able to adopt in any way possible if we knew how stock work and how crypto do. We can choose what works best in us and finds way to learn and earn on it. If crypto worked the way you said probably it wouldn't be the phenom it is today. So better to keep it working this way. Title: Re: Is it really a benefit that nobody controls the price? Post by: JooBra on February 19, 2021, 09:25:41 PM It's not that nobody controls the price we all control it or better to say demand controls it. It's such a good concept since nobody can take profit for controlling the market. Now we are not at that point yet since we have people with big bags who can influence the price. Getting the marketcap bigger will help that for sure.
Title: Re: Is it really a benefit that nobody controls the price? Post by: kawetsriyanto on February 19, 2021, 09:59:09 PM Actually, the price in the market are inflected by the market itself, the supply and demand in the market will really give big influence. However, sometimes, whales or certain people also give influence and may control the market if they really have the big amount of the coin itself. However, I don't think that they can control the whole of the market. This is so complex if they are able to control all the market. This is not like a centralized system, this is decentralized or semi-decentralized where everybody can give influence to the market. It may distinguish on how big the control or influence.
Title: Re: Is it really a benefit that nobody controls the price? Post by: Ryker1 on February 19, 2021, 11:21:20 PM Actually, the price in the market are inflected by the market itself, the supply and demand in the market will really give big influence. Well, in theoretical analysis and the basics of determining the price, --it is always the demand and supply. But we can't deny that there are some greedy people who wanted to earn more in investing in bitcoin and we are not all the same status in lifestyle. So, there are people who can't afford to spend more on investing in bitcoin. We have different kinds of investors in bitcoin and we are all aiming to accumulate as much as we can. For the whales and institutional investors are for sure a wide bag to put bitcoin which has an effect on the market price since we are at the concept of demand and supply. Title: Re: Is it really a benefit that nobody controls the price? Post by: Rengga Jati on February 19, 2021, 11:54:29 PM Sure, with no one controls the price, there will be high volatility in crypto prices. You shouldn't consider volatility as a negative thing, it is one of the reasons why many people come to the crypto world. With high volatility, there will be big price gaps, which creates a chance for all people to buy at a small price and sell at a very high price. If the price is limited and controlled, there will be no chance to take significant profits.
Title: Re: Is it really a benefit that nobody controls the price? Post by: justdimin on February 20, 2021, 05:48:12 AM I have to say it is cool that we have no centralization, even with the bad sides of it, you have to take the bad sides because at the end of the day we are going to have regulations and those will help us a lot but control is something different.
If you put regulations on something that nobody can control, you are going to have dark market price changes that is not available in the regular exchanges, I am not even saying it is impossible because governments could talk with exchanges and put on some limits, probably not 1% and a lot bigger (like 50% daily) which would be the limit, for going up or down, but even when you accept that all nations all around the world could do this (which is impossible) we are still left with dark market exchanges doing whatever they want and people making a profit from the difference between the two exchanges. Title: Re: Is it really a benefit that nobody controls the price? Post by: doomloop on February 20, 2021, 08:51:04 AM BTC has a fixed amount and the price varied on the demand and supply in the market cap. Once the demand will increase, it means the supply becomes less which in turn to BTC becomes expensive and the price was pegged into a dollar-based value. Nevertheless, it is impossible that you mean BTC will become stable in price, the price will always be fluctuated due to massive traders of altcoins in BTC pairs. Actually right but he was trying to think of a way which can make fluctuations smaller like limiting the maximum drop/rise a day to $500 but obviously we cannot do it because you can't stop buyers from buying and you cannot force sellers into holding. But to solve the same problem stable-coins were made to eliminate these risks and if you are a merchant you might actually want to accept altcoins like TRX because BTC payments will take hours and transaction fees also hurts. I am only suggesting TRX because it has free of cost transactions and quick confirmations and the price for TRX never dropped or jumped too much either.By the way there are merchants like bitrefill who accept bitcoins payment but how they manage price fluctuations is by constantly updating price of the cart items every 10 mins when you are on the payment page. Like if you had $10 amazon gift card and move to checkout then the price will be fixed for 10-15 mins and then update according to the market price. Title: Re: Is it really a benefit that nobody controls the price? Post by: ven7net on February 20, 2021, 02:33:15 PM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? Solution- price limits! If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. I believe that BTC is attractive at the moment precisely because its price can change. It so happened that the high volatility of the price of BTC attracts a lot of players and ordinary investors, I would say, everyone who wants to make money quickly. Based on this, for a number of companies that would like to invest in BTC, this causes caution, since you yourself wrote that you would not want to spend your funds in case of something. BTC is probably for those who can take risks or see and know more than others. In any case, all investments always carry risks of loss, but vice versa, as with BTC, they can bring great profits. Title: Re: Is it really a benefit that nobody controls the price? Post by: franco123 on February 20, 2021, 08:57:03 PM First thing they will teach you in Economics class is the Supply and Demand. And this mainly affects the price of Bitcoin. What is amazing about it is that it is being 'controlled' by the consumers unlike the other currencies which is being controlled by the government. Yes it is volatile and a lot of other factors may affect the price. However, what's good about it is that it is universal and no country has the power to manipulate it's price.
Title: Re: Is it really a benefit that nobody controls the price? Post by: ReiMomo on February 20, 2021, 10:03:12 PM First thing they will teach you in Economics class is the Supply and Demand. And this mainly affects the price of Bitcoin. What is amazing about it is that it is being 'controlled' by the consumers unlike the other currencies which is being controlled by the government. Yes it is volatile and a lot of other factors may affect the price. However, what's good about it is that it is universal and no country has the power to manipulate it's price. Because not all bitcoin holders are the same financial status, there are some investors that can afford a big amount to put as an investment in bitcoin and the most powerful are those who had a lot of money that they can even do play the market in investing a lot of bitcoin and then waiting to sell when the price goes up. We can avoid this thing, there are always who want to control even in different aspects of investment. I will not surprise if bitcoin also has, a fixed amount that easy for them to control, why not. The demand and supply will always vary on the price movement. Title: Re: Is it really a benefit that nobody controls the price? Post by: MWesterweele on February 20, 2021, 10:10:06 PM Actually, the price in the market are inflected by the market itself, the supply and demand in the market will really give big influence. However, sometimes, whales or certain people also give influence and may control the market if they really have the big amount of the coin itself. However, I don't think that they can control the whole of the market. This is so complex if they are able to control all the market. This is not like a centralized system, this is decentralized or semi-decentralized where everybody can give influence to the market. It may distinguish on how big the control or influence. Well i guess knowing no one had any control with the price of bitcoin was somewhat beneficial but the only concern of traders and investors of bitcoin was its volatility that make it i guess makes bitcoin as what it was, a trendy and in demand investment asset today. It is true that the only thing that could make the bitcoin market inflected was the supply and the demand of bitcoin and also the rising member of the society that are really into investment of bitcoin, some were a big personality in terms of business. Title: Re: Is it really a benefit that nobody controls the price? Post by: Questat on February 20, 2021, 10:49:18 PM Sure, with no one controls the price, there will be high volatility in crypto prices. You shouldn't consider volatility as a negative thing, it is one of the reasons why many people come to the crypto world. With high volatility, there will be big price gaps, which creates a chance for all people to buy at a small price and sell at a very high price. If the price is limited and controlled, there will be no chance to take significant profits. Some worried about the volatility but they don't understand how it gives more benefits to the traders and so with the investors. I did appreciate being an uncontrollable market but somehow we can't neglect to experience manipulation. That is why some people could think that we are in control, can't imagine how JP Morgan and Elon Musk did, they easily change the market trend, but the result is pretty amazing and we all have huge gains. Title: Re: Is it really a benefit that nobody controls the price? Post by: Edsemen on February 20, 2021, 10:58:50 PM First thing they will teach you in Economics class is the Supply and Demand. And this mainly affects the price of Bitcoin. What is amazing about it is that it is being 'controlled' by the consumers unlike the other currencies which is being controlled by the government. Yes it is volatile and a lot of other factors may affect the price. However, what's good about it is that it is universal and no country has the power to manipulate it's price. Indeed, every country government has a separation between crypto and fiat and they won't intervene with how people create their own perspective towards investments. Bigger whales could control this trend if they wanted to, that's why every situation depends in what type if trading you'll apply each time you approach with every plans you have in the future. Title: Re: Is it really a benefit that nobody controls the price? Post by: MCobian on February 21, 2021, 12:10:06 AM It is great for me that no one can control the price of Bitcoin, so the volatile Bitcoin price can be used to generate profit. If you are a merchant owner
and want to accept Bitcoin payments, then use an application that can convert Bitcoin directly to stablecoins or fiat. That way you can overcome the volatile Bitcoin price, because if the solution limits the price. Bitcoin is not decentralized anymore, because someone controls the price of Bitcoin. Let the Bitcoin price move according to demand and supply is much better. Title: Re: Is it really a benefit that nobody controls the price? Post by: Janation on February 21, 2021, 02:14:12 AM First thing they will teach you in Economics class is the Supply and Demand. And this mainly affects the price of Bitcoin. What is amazing about it is that it is being 'controlled' by the consumers unlike the other currencies which is being controlled by the government. Yes it is volatile and a lot of other factors may affect the price. However, what's good about it is that it is universal and no country has the power to manipulate it's price. That is so true. As these countries can limit the use of Bitcoin in their country, they can't stop it completely as no one can actually stop Bitcoin from functioning. Right now with a lot of big names/companies that wanted to invest in Bitcoin, this could be a threat to that decentralization. Nothing may change or everything will completely change in the future. Title: Re: Is it really a benefit that nobody controls the price? Post by: tygeade on February 21, 2021, 06:47:06 AM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? Indeed as a merchant you face tough times accepting bitcoins because the volatile nature of Bitcoin means you are not just accepting bitcoins but also gambling as the price might swing in any direction. But when you accept bitcoin as a payment, you have to keep in mind that overall the price only rises if you compare in long term.If you hate volatility then you can just accept bitcoin and convert them automatically into stable coins so I don't see what the problem really is. If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. No one can control the price of bitcoins my man that's the catch and even Satoshi cannot control it who eventually created Bitcoins, such is the nature of a decentralized asset that even the creators cannot control the price and transactions once its public.Title: Re: Is it really a benefit that nobody controls the price? Post by: bitgolden on February 21, 2021, 04:16:33 PM Actually right but he was trying to think of a way which can make fluctuations smaller like limiting the maximum drop/rise a day to $500 but obviously we cannot do it because you can't stop buyers from buying and you cannot force sellers into holding. But to solve the same problem stable-coins were made to eliminate these risks and if you are a merchant you might actually want to accept altcoins like TRX because BTC payments will take hours and transaction fees also hurts. I am only suggesting TRX because it has free of cost transactions and quick confirmations and the price for TRX never dropped or jumped too much either. Unfortunately TRX is not a good choice for merchants considering it is fast and cheap but at the same time lacks development. This means if you want to accept crypto so that you could have more crypto and profit later on, that would be a bad choice, since it may not go up like the other ones, look at the current situation where everything goes up but Tron fails to go up, whereas if you pick something else you could live with that.By the way there are merchants like bitrefill who accept bitcoins payment but how they manage price fluctuations is by constantly updating price of the cart items every 10 mins when you are on the payment page. Like if you had $10 amazon gift card and move to checkout then the price will be fixed for 10-15 mins and then update according to the market price. For example if you use Tron blockchain but Tron itself, that would be a lot better for you, such as using USDT but on TRC20 blockchain, that way you will be getting usdt and the price of it will not change and you will still get it fast and cheap, or you could accept something like BNB for example which would be cheap and fast as well and it is not a bad coin (increased as high as third place) so you could always find an alternative. Title: Re: Is it really a benefit that nobody controls the price? Post by: so98nn on February 21, 2021, 04:45:22 PM [...] Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. This is not the way bitcoin works! Not just the exchangers! Bitcoin's circulating supply is not completely on the exchangers around the world. Imagine more than 3% bitcoins are in holdings of crypto institutions, more than 6% is with Mr. Satoshi and billions of worth in the wallet of Elon and also PayPal, and more than this are with common people like you and me which could make huge % of holdings. If do the math then exchanger do not drive the prices of bitcoin at all. These go directly into locked bitcoin. In addition to this, you can't buy from one exchanger and sell to other high priced exchanger because you loose 0.2 to 1% in the process due to the exchanger fees as well as withdrawal fees. So investors don't do that! Market correction happens with the liquidity and daily volume of fiat that's being matched with the current price. Title: Re: Is it really a benefit that nobody controls the price? Post by: target on February 21, 2021, 05:31:54 PM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? Solution- price limits! If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. Nobody controlling the price means decentralization which is what everyone desires in the crypto sphere. It provides an opportunity for all. Your problem can easily be solved if you will just accept stablecoin, it's nothing but just pegged to a dollar. But since you have the desire to accept BTC, that means you are also looking for an opportunity to profit when prices are running up. So why complain? Title: Re: Is it really a benefit that nobody controls the price? Post by: SquallLeonhart on February 21, 2021, 07:20:49 PM There is no reason to accept bitcoin if you are afraid of the volatility as well, nobody forces you to accept it. If you do not want it just don't put bitcoin as a payment option, if you think by not putting bitcoin as payment option you are missing out on too much you could just turn it into stablecoin like tygeade said, there are 100 different methods of just not being afraid of the volatility.
However by holding bitcoin you are mostly making a profit, almost all people who ever received bitcoin made a profit today, you could have bought bitcoin at any given time in the past 11 years and you would be in profit today, just because it falls some days doesn't mean you should sell, and if you need the money to pay something then you should not be risking your money in trading or investment this way anyhow, you should be accepting money in form that you need it. Title: Re: Is it really a benefit that nobody controls the price? Post by: noormcs5 on February 21, 2021, 07:23:19 PM Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. This is called arbitrage trading where you buy a coin which is low in any exchange and sell it on the other exchange where it is high. Normally this opportunity does not happen often as price remains similar among all exchanges but if this happens, you can take advantage of it. Title: Re: Is it really a benefit that nobody controls the price? Post by: ChrisPop on February 21, 2021, 07:48:35 PM ^ You did not probably fully understand what is the function of BTC and how affects the price to become volatile. Because BTC has a fixed amount and the price varied on the demand and supply in the market cap. Once the demand will increase, it means the supply becomes less which in turn to BTC becomes expensive and the price was pegged into a dollar-based value. Nevertheless, it is impossible that you mean BTC will become stable in price, the price will always be fluctuated due to massive traders of altcoins in BTC pairs. Nope, Bitcoin price does not fluctuate because of a big number of people trading back and forth between altcoins and BTC. Bitcoin is so volatile because it is a pretty new asset class and investors are not accustomed to. They don't know how to evaluate it so the price moves mainly due to speculation. Nowadays we see big companies like Tesla and Microstrategy hoarding BTC as a hedge against fiat and for capital appreciation. This trend could change the violent moves of BTC especially on the downside. Another factor is the low liquidity in the markets. Institutions with deep pockets cannot get their hands on BTC yet, but only with very low amounts that do not impact their yearly performance significantly. That's why you see investment funds like Blackrock only "dabbling" with Bitcoin - because they don't want the market to get in a buying frenzy, at least not yet. Title: Re: Is it really a benefit that nobody controls the price? Post by: doctor877 on February 21, 2021, 10:10:49 PM This has been there since the trading on exchanges has started and with the model of cryptocurrency, it will keep happening in such way. Price will never be achieved so that everyone will have a free hand in the market based on how good you are at trading or investing.
Title: Re: Is it really a benefit that nobody controls the price? Post by: lixer on February 22, 2021, 06:41:26 AM This has been there since the trading on exchanges has started and with the model of cryptocurrency, it will keep happening in such way. Price will never be achieved so that everyone will have a free hand in the market based on how good you are at trading or investing. Yes, as others have said as well, demand and supply is the reason behind the price volatility and the demand and supply are never going into any kind of equilibrium situation so the volatility will remain always. There are times when the demand is higher as people want to invest into crypto so the market price goes higher and similarly when people want to sell their coins but there ain't the buyers on that price, the market drops as the sellers have to sell at a lower price.Not sure why the volatility bothers anyone since the introduction of stable coins was made only to bring stability in the market and let bitcoins be bought and sold as assets and stable coins as a currency for payment. Title: Re: Is it really a benefit that nobody controls the price? Post by: Julien_Olynpic on February 22, 2021, 08:59:24 AM There are many exchanges that restrict the setting of limit orders too high or too low from the current price. I think that's enough. If you limit the fluctuations in daily prices, then traders will simply switch to other exchanges where there are no such restrictions. In the end, this exchange itself, which restricts price movements for the day, will either close or cancel all restrictions. In general, these restrictions are meaningless. This is not a traditional market where everything is regulated. This is the Wild West. This is even a cryptanarchy.
Title: Re: Is it really a benefit that nobody controls the price? Post by: qwertyup23 on February 22, 2021, 10:48:05 AM <snip...> I think you are forgetting one crucial factor on what drives the price of cryptocurrencies in the market- the law of supply and demand. With its limited supply circulating in the market, the price is highly dependent upon the supply/demand of the coin. Obviously, if majority of the supply is owned by a single individual, he can manipulate the market by purchasing/selling depending on what he needs. The beauty about its volatility, is that, it can be perfect for short/long-term investments but you really have to know the other factors also in order to achieve maximum efficiency and profit. Title: Re: Is it really a benefit that nobody controls the price? Post by: bitgolden on February 22, 2021, 07:22:01 PM I think you are forgetting one crucial factor on what drives the price of cryptocurrencies in the market- the law of supply and demand. Unfortunately rich people do own the majority of the crypto market, and also the fiat world as well, the difference is that in the crypto world when an individual tries to make a move, they make others richer or poorer with them, and nobody gains all alone, because if I keep my bitcoins, if a whale makes it go super high I make money thanks to them as well, if they lose money I lose money as well, in fiat world things are not like that, rich people make money even while people are literally starving to death.With its limited supply circulating in the market, the price is highly dependent upon the supply/demand of the coin. Obviously, if majority of the supply is owned by a single individual, he can manipulate the market by purchasing/selling depending on what he needs. The beauty about its volatility, is that, it can be perfect for short/long-term investments but you really have to know the other factors also in order to achieve maximum efficiency and profit. So supply and demand is one of the biggest reasons why bitcoin goes up or down, but also this freedom to be equals no matter who owns what does make it go up as well because it makes it used more. Sure that could be included in the supply and demand as well but it is too important to be included in something else and should be pointed out. Title: Re: Is it really a benefit that nobody controls the price? Post by: isaac_clarke22 on February 23, 2021, 04:47:44 PM ~ Just do it and accept it. Even my biller accepts crypto payments now through a third-party app though I wish I could pay upfront with just using a Bitcoin wallet. That's my cue to buy hardware wallet as well.There are indeed a lot of FUDs in crypto, because business needed to destroy other in order to survive and don't let put you down. Title: Re: Is it really a benefit that nobody controls the price? Post by: Sinjokubhi on February 25, 2021, 01:56:05 PM ^ You did not probably fully understand what is the function of BTC and how affects the price to become volatile. Because BTC has a fixed amount and the price varied on the demand and supply in the market cap. Once the demand will increase, it means the supply becomes less which in turn to BTC becomes expensive and the price was pegged into a dollar-based value. Nevertheless, it is impossible that you mean BTC will become stable in price, the price will always be fluctuated due to massive traders of altcoins in BTC pairs. Yups, the Bitcoin price will not continue to be stable. It is true what he said. Because the ups and downs of a currency must have certain causes. There is no way, the price of that currency will become stable. Maybe for a few days you can, but on the next day there will definitely be something that causes the price to decrease, whether it's from an economic or political situation it can cause the Bitcoin price to either slowly decline or immediately drop far from its usual price. Vice versa, this situation can also make currency prices improve and soar up, even exceeding the usual price. The price of crypto is basically influenced by its demand and availability in the market. As an example : The demand for bitcoin in the market is on the rise, but the availability of sellers is not able to meet the demands of buyers in the market. Thus, the price of bitcoin goes up, because demand is higher than availability. Likewise, when the market wants to melt bitcoin into cash and its availability floods the market. Thus, the price of bitcoins will fall, as there are more sales than purchases. Title: Re: Is it really a benefit that nobody controls the price? Post by: wxa7115 on February 25, 2021, 07:25:53 PM There is no reason to accept bitcoin if you are afraid of the volatility as well, nobody forces you to accept it. If you do not want it just don't put bitcoin as a payment option, if you think by not putting bitcoin as payment option you are missing out on too much you could just turn it into stablecoin like tygeade said, there are 100 different methods of just not being afraid of the volatility. In fact he can accept all the bitcoin that he wants since there are payment processors that will convert whatever bitcoin that you received into fiat immediately, which to me seems like a better solution for people like him that do not want to deal with bitcoin's volatility than what he's proposing, which is basically a total denial of the nature of bitcoin and its purpose.However by holding bitcoin you are mostly making a profit, almost all people who ever received bitcoin made a profit today, you could have bought bitcoin at any given time in the past 11 years and you would be in profit today, just because it falls some days doesn't mean you should sell, and if you need the money to pay something then you should not be risking your money in trading or investment this way anyhow, you should be accepting money in form that you need it. Also I would like to say that reading this thread I'm happy that the majority of the members of this forum do not agree with his proposal, having any type of price controls will never work in this market, and by the way it will never work in any market either and that has been demonstrated time and time again throughout all history. Title: Re: Is it really a benefit that nobody controls the price? Post by: fullhdpixel on February 26, 2021, 08:37:01 AM If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. I am not sure if what you like you have said here will be possible or not, but being stable is something I don’t think is going to happen when it comes to Bitcoin. And that aside, I think any exchange that is going to follow the process you have here will be losing for that reason since they are limiting traders from what they can buy and sell and most traders won’t be ready for that.Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. It may favor you as a merchant, that’s if the price can become quite stable as you wished, but traders wouldn’t agree, what that volatility means to them is the possibility of more profit. Maybe you should only accept crypto payment whenever you think you can. Title: Re: Is it really a benefit that nobody controls the price? Post by: AakZaki on February 26, 2021, 09:20:23 PM This is called arbitrage trading where you buy a coin which is low in any exchange and sell it on the other exchange where it is high. Normally this opportunity does not happen often as price remains similar among all exchanges but if this happens, you can take advantage of it. if we analyze every coin on another exchange maybe arbitrase is possible to happen. I usually find some altcoins that have price differences which then I use to seek some benefits from the price difference. However, what must also be considered is the volume and fees that will be charged on these transactions. many Arbitration communities discuss what coins have good potential.Title: Re: Is it really a benefit that nobody controls the price? Post by: MWesterweele on February 27, 2021, 03:05:40 PM Nope, Bitcoin price does not fluctuate because of a big number of people trading back and forth between altcoins and BTC. Bitcoin is so volatile because it is a pretty new asset class and investors are not accustomed to. They don't know how to evaluate it so the price moves mainly due to speculation. Nowadays we see big companies like Tesla and Microstrategy hoarding BTC as a hedge against fiat and for capital appreciation. This trend could change the violent moves of BTC especially on the downside. Another factor is the low liquidity in the markets. Institutions with deep pockets cannot get their hands on BTC yet, but only with very low amounts that do not impact their yearly performance significantly. That's why you see investment funds like Blackrock only "dabbling" with Bitcoin - because they don't want the market to get in a buying frenzy, at least not yet. Let's not forget the law that plays the market of bitcoin or even in any kind of business in real life the "law of supply and demand". We are so delighted that we becoming a huge number of traders but on the other hand, the more that we increase in number especially the new joiner to our number are whales who can afford to avail as much bitcoin as they want, expect that the market value may vary accordingly. Bitcoin were made in a limited amount, and if the supply of bitcoin in the market has shortage it will definitely give an increase variation of market value and otherwise to the abundant supply of bitcoin. Title: Re: Is it really a benefit that nobody controls the price? Post by: CryptopreneurBrainboss on February 27, 2021, 06:28:23 PM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. Hope you do understand it's a two way thing, you can also make twice the profit you would had made from accepting just fiats with bitcoin. If you doubt you can ask Elon, he made more holding bitcoin with in days than what he made in the previous month selling cars. Also you can as well use third party service providers that automatically convert bitcoin into fiats if you're that scared of the volatility and what to contribute to the adoption of the currency. The decentralized nature of bitcoin is what make it unique, any features that make it centralized will remove that. Traders and merchants can protect themselves against loss by taking advantage of the numerous stablecoin available in the market. When you feel the price for s likely to drop, you exchange your coins to stablecoin and buy back when the market is about to recover or you feel comfortable buying. Title: Re: Is it really a benefit that nobody controls the price? Post by: skarais on February 27, 2021, 06:57:04 PM OP, you should know that bitcoin is a decentralized cryptocurrency. This is unlike most other currencies which can be controlled by the authorities or the government. We have bitcoin to remove centralization from the nature of its common currency. If you are bothered by the volatility of bitcoin price, then you are not advised to accept it as a means of payment for the business you are developing.
You may be one of those people who find it difficult to adopt bitcoin as a mean of payment because of its volatility, but there is nothing to worry about because this is your choice. If you don't like volatility, then use stablecoin as a mean of payment. Title: Re: Is it really a benefit that nobody controls the price? Post by: lixer on February 28, 2021, 08:54:59 AM Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. I have seen sometimes when a bull run is going on, prices on localbitcoins have a huge difference between selling and buying which indicates that more people want to buy right now and similarly when a drop happens there are more sellers and less buyers. A trader smart enough to use these opportunities can arbitrage. Title: Re: Is it really a benefit that nobody controls the price? Post by: AakZaki on March 01, 2021, 07:15:48 PM ~snip~ You're right, I almost forgot to do this. Luckily I have a good friend to remind me of this. So seeking profit through trading is not only through the process of buying cheap and selling expensive in one market, there are many other techniques such as arbitase. Several times I have done this and it works. An important note to remember is to carry out precise calculations regarding transaction speeds, fees, and the state of origin and destination wallets.A trader smart enough to use these opportunities can arbitrage. Title: Re: Is it really a benefit that nobody controls the price? Post by: isaac_clarke22 on March 01, 2021, 07:49:55 PM ~ Yups, the Bitcoin price will not continue to be stable. It is true what he said. Because the ups and downs of a currency must have certain causes. There is no way, the price of that currency will become stable. Maybe for a few days you can, but on the next day there will definitely be something that causes the price to decrease, whether it's from an economic or political situation it can cause the Bitcoin price to either slowly decline or immediately drop far from its usual price. Vice versa, this situation can also make currency prices improve and soar up, even exceeding the usual price. The price of crypto is basically influenced by its demand and availability in the market. As an example : The demand for bitcoin in the market is on the rise, but the availability of sellers is not able to meet the demands of buyers in the market. Thus, the price of bitcoin goes up, because demand is higher than availability. Likewise, when the market wants to melt bitcoin into cash and its availability floods the market. Thus, the price of bitcoins will fall, as there are more sales than purchases. I got used already to Bitcoin's instability and I've been trading it for quite 3 years already and it doesn't seem to make me quit not even a flinch just yet. :D The demand you mentioned seems like due to many mentions to it to the media lately. Title: Re: Is it really a benefit that nobody controls the price? Post by: harizen on March 01, 2021, 08:45:13 PM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. You don't need to hold those coins in the first place. You can accept crypto on your business by using a third-party program's API that will instantly convert those cryptos into fiat and that will save you from your worries of being in a crash. There is no solution to Bitcoin's volatility as long as most people considered it as an investment more than a currency. We are the one who needs to adjust instead of the market that will adjust for us. Title: Re: Is it really a benefit that nobody controls the price? Post by: wxa7115 on March 03, 2021, 08:10:06 PM OP, you should know that bitcoin is a decentralized cryptocurrency. This is unlike most other currencies which can be controlled by the authorities or the government. We have bitcoin to remove centralization from the nature of its common currency. If you are bothered by the volatility of bitcoin price, then you are not advised to accept it as a means of payment for the business you are developing. But that is precisely what he does not want to accept, this reminds me of many articles that I read about economists that said that for something like bitcoin to work it needed to be changed and they basically proposed that bitcoin be reformed so it worked exactly in the same way that fiat currencies work, they do not understand that bitcoin is based on different principles, principles superior to fiat but that brings several other inconveniences, and one of those is the volatility for those that just want to accept payments.You may be one of those people who find it difficult to adopt bitcoin as a mean of payment because of its volatility, but there is nothing to worry about because this is your choice. If you don't like volatility, then use stablecoin as a mean of payment. But as I have stated before this is not a problem since he could use a third party service to accept payments on bitcoin and then convert that bitcoin to fiat and avoid the volatility completely. Title: Re: Is it really a benefit that nobody controls the price? Post by: Lordhermes on March 03, 2021, 10:10:47 PM In the past, arbitrage trading was populous among traders where buying cheaper at other exchange and sell higher at another exchange, this brought problem of market cheaters, while leaving the price of Bitcoin unstable and disstabilised, on a normal order, the prices on other exchange is suppose to be the same or must have a slight different in price, so conclusively, the market price is controlled on demand and supply, not manipulated in anybody.
Title: Re: Is it really a benefit that nobody controls the price? Post by: konflikkastil on March 03, 2021, 10:44:27 PM That is the advantages crypto has that has made lot of people to want to deal with BTC and other altcoins. This is not regulated by any financial banking system and much reason some govt are going against the growth and rapid changes digital currencies has seen. When we think about it very carefully, we will know that it is a leverage and the price is not control by anybody, but just by the number of demand. If more people are demanding for it the price will definitely goes up and it will keep going up. A major increase in the price can turn someone's life around and a little drop some turn a millionaire to a thousandnaire.
Title: Re: Is it really a benefit that nobody controls the price? Post by: Sinjokubhi on March 04, 2021, 07:26:32 AM ^ You did not probably fully understand what is the function of BTC and how affects the price to become volatile. Simple Economics class/subject would really tell you everything.I dont know why there are people whom do really talk about bitcoins stable price?Because BTC has a fixed amount and the price varied on the demand and supply in the market cap. Once the demand will increase, it means the supply becomes less which in turn to BTC becomes expensive and the price was pegged into a dollar-based value. Nevertheless, it is impossible that you mean BTC will become stable in price, the price will always be fluctuated due to massive traders of altcoins in BTC pairs. It wont happen no matter what angle we are trying to look at and dont know whats up their basis on saying up those words. When you do get engage with crypto then you should be aware on the risk.Volatility issue? this might be a problem for some but for those who do look for opportunity then this would be a good recipe. Yups, paying attention to the risks of any action or work to be taken is a good recipe. With this, we will be more vigilant and careful in doing so. Since so many people start right away with what can be said to be big (as traders), they don't pay attention to the consequences and the risks. This usually happens to a beginner, where they only think about the profit that will be obtained, and immediately dive into the world of trading openly without knowing how they will face the risk of future losses. Everything must be faced with preparation, such as knowledge about trading or what we should do as traders, before going straight to the world of trading. Because with preparation, we will not easily panic if we face risks that will or are happening. It's like facing a price drop on our crypto assets. And with our knowledge we will not be easily consumed by fake news or fake brokers who lure huge profits. Many of these beginners get caught in the trap and end up losing or losing their assets. Therefore, before entering or plunging into the realm of trading, it is necessary to have sufficient knowledge to manage it later. Title: Re: Is it really a benefit that nobody controls the price? Post by: cyriljundos on March 06, 2021, 01:27:37 AM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? Solution- price limits! If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. we know that trading bitcoin and other alternative coins in market is uncontrollable, if there is whale and controlling that specific price of coin it is normal because its a business and technique to gain higher profit by controlling the price it will be same as in other markets, there should be balance in the market in price. Title: Re: Is it really a benefit that nobody controls the price? Post by: wxa7115 on March 08, 2021, 06:51:49 PM The price of cryptocurrency on an exchange I think no one controls it because the movement of cryptocurrency prices like bitcoin is purely from the interaction between buyers and sellers at the exchange, when many people want to buy bitcoin, the price will be easy to go up, you can see the history of bitcoin prices from the start created and this year it can reach a very expensive price so the price of bitcoin is out of control. While no one can control bitcoin there are without a doubt powerful actors that can in fact manipulate its price somewhat and without a doubt exchanges are part of the short list of entities that can do this.This is why we need decentralized exchanges that are truly decentralized, not only this will diminish the power of the current exchanges but this will also help diminish the risk of governments eventually going after exchanges and getting all of their coins in an attempt to plunder their coins, if they tried this in a decentralized exchange that was noncustodial they will have no chance to get your coins regardless of what they do. Title: Re: Is it really a benefit that nobody controls the price? Post by: kramchers on March 09, 2021, 02:28:37 AM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? Solution- price limits! If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. I think you misunderstood about the effect when Bitcoin move its price value in the market. Perhaps, you have an idea that when Bitcoin rise up in the market, most of the altcoins or cryptocurrency took advantage of it to pump their coin but not all of them doing it. In short, the volatility reacts when the price of Bitcoin move depending on how the community support it, this was my thoughts and understanding about in your topic anyway. Title: Re: Is it really a benefit that nobody controls the price? Post by: chikading2016 on March 09, 2021, 03:50:28 AM I think that is a big benefit that no one can control the price, because if someone has a price control the benefit or profit will only fall in thier hands and everyone will not become interested in cypto, people feel excitement in cypto because it has an amazing and unknown amount of profit that we can get from our investment,trading,etc,.
Title: Re: Is it really a benefit that nobody controls the price? Post by: CryptopreneurBrainboss on March 09, 2021, 04:33:01 AM The price of cryptocurrency on an exchange I think no one controls it because the movement of cryptocurrency prices like bitcoin is purely from the interaction between buyers and sellers at the exchange, when many people want to buy bitcoin, the price will be easy to go up, you can see the history of bitcoin prices from the start created and this year it can reach a very expensive price so the price of bitcoin is out of control. How sure are you that you're trading with another user and not interacting with bots. The cryptocurency market is so not mature for us not to think it's not been manipulated. Manipulating is also control, anyone that has the power to manipulate you into doing what you didn't initially intended to do like buying a particular coin or selling it, is controlling you and that's what we're experiencing in the market. The controls aren't direct so it seems nothing is going on beneath but that's not the case as the whales and probably some exchange are having their impact felt on the market, making decisions that when aired brings about fear or fomo into the market which is one of the reasons the market is so volatile. Title: Re: Is it really a benefit that nobody controls the price? Post by: zanezane on March 09, 2021, 05:14:52 AM Yes it is a benefit that nobody controls the prices, if it were the opposite, the one who controls will be able to sway the market whenever it suits their purposes. If nobody controls the prices, competition is feasible and people are going to be a willing participant in the market because they know that no one is in control of the prices, although having the market not having no one controlling it has its own problem and that is that one big enough group or individual could manipulate the market to a certain extent but that can be detected and can be condemned unlike when someone controls the market where they can just say that it is what it is.
Title: Re: Is it really a benefit that nobody controls the price? Post by: jostorres on March 13, 2021, 01:56:28 PM If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. That’s not going to work, if they wanted to, then they would have done that. And moreover if they start doing such a thing, then where is the freedom that cryptocurrency has to offer? Cryptocurrency is all about decentralization and freedom and you shouldn’t be limiting people from what they want to do.Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. Moreover I don’t think that any exchange will be ready to be doing such a thing, when they know very well that what they are doing is business and if they should try such a thing it’s going to make them lose traders to exchanges that doesn’t place such limit on traders. So, they are not going to be doing it. The best thing for you as a merchant to always convert to fiat or stablecoin after you get paid Title: Re: Is it really a benefit that nobody controls the price? Post by: k@suy on March 13, 2021, 02:30:55 PM Yes it is a benefit that nobody controls the prices, if it were the opposite, the one who controls will be able to sway the market whenever it suits their purposes. If nobody controls the prices, competition is feasible and people are going to be a willing participant in the market because they know that no one is in control of the prices, although having the market not having no one controlling it has its own problem and that is that one big enough group or individual could manipulate the market to a certain extent but that can be detected and can be condemned unlike when someone controls the market where they can just say that it is what it is. I do believe also that it is much beneficial that no one have control over the price, no one gonna assign a certain amount of value of bitcoin especially but the drawback of this was the unpredictable and the volatility of cryptocurrency which is highly dependable on the demand and supply of the cryptocurrency itself. But the most beneficial i think that nobody controls the price was the freedom of the traders and investors to apply the tactics and strategies they have without following the certain rules. Title: Re: Is it really a benefit that nobody controls the price? Post by: Furious 7 on March 13, 2021, 02:41:00 PM The price of cryptocurrency on an exchange I think no one controls it because the movement of cryptocurrency prices like bitcoin is purely from the interaction between buyers and sellers at the exchange, when many people want to buy bitcoin, the price will be easy to go up, you can see the history of bitcoin prices from the start created and this year it can reach a very expensive price so the price of bitcoin is out of control. How sure are you that you're trading with another user and not interacting with bots. The cryptocurency market is so not mature for us not to think it's not been manipulated. Manipulating is also control, anyone that has the power to manipulate you into doing what you didn't initially intended to do like buying a particular coin or selling it, is controlling you and that's what we're experiencing in the market. The controls aren't direct so it seems nothing is going on beneath but that's not the case as the whales and probably some exchange are having their impact felt on the market, making decisions that when aired brings about fear or fomo into the market which is one of the reasons the market is so volatile. Because the price of bitcoin continues to rise, maybe also because the supply is now getting less and more market demand, so from year to year there must be a change even though sometimes the price fluctuates greatly. Actually, we never know how this manipulation occurs by the big whales who have strong control in the market which can cause prices to always change with some of the news they spread so we must realize that all is a little interference from the whales who have great power therefore the market will remain controlled by them but not significantly and what is clear is that the supply in the market makes prices skyrocket even though FOMO often occurs. Title: Re: Is it really a benefit that nobody controls the price? Post by: Maslate on March 13, 2021, 02:50:02 PM We can really appreciate the benefits we got in a decentralized market. Traders, investors love it because there is no such market manipulation to happen. This the reason why crypto supporters never wanted to make the government-controlled this. Because if that will happen, we can no longer make a huge profit anymore. And that volatility seems nothing to see anymore, we can't do the "buy low and sell high" and the future will lie in the hands of the controller.
Title: Re: Is it really a benefit that nobody controls the price? Post by: geegaw on March 13, 2021, 04:59:40 PM Yes it is a benefit that nobody controls the prices, if it were the opposite, the one who controls will be able to sway the market whenever it suits their purposes. If nobody controls the prices, competition is feasible and people are going to be a willing participant in the market because they know that no one is in control of the prices, although having the market not having no one controlling it has its own problem and that is that one big enough group or individual could manipulate the market to a certain extent but that can be detected and can be condemned unlike when someone controls the market where they can just say that it is what it is. I do believe also that it is much beneficial that no one have control over the price, no one gonna assign a certain amount of value of bitcoin especially but the drawback of this was the unpredictable and the volatility of cryptocurrency which is highly dependable on the demand and supply of the cryptocurrency itself. But the most beneficial i think that nobody controls the price was the freedom of the traders and investors to apply the tactics and strategies they have without following the certain rules. Title: Re: Is it really a benefit that nobody controls the price? Post by: Fatunad on March 13, 2021, 11:12:56 PM Yes it is a benefit that nobody controls the prices, if it were the opposite, the one who controls will be able to sway the market whenever it suits their purposes. If nobody controls the prices, competition is feasible and people are going to be a willing participant in the market because they know that no one is in control of the prices, although having the market not having no one controlling it has its own problem and that is that one big enough group or individual could manipulate the market to a certain extent but that can be detected and can be condemned unlike when someone controls the market where they can just say that it is what it is. I do believe also that it is much beneficial that no one have control over the price, no one gonna assign a certain amount of value of bitcoin especially but the drawback of this was the unpredictable and the volatility of cryptocurrency which is highly dependable on the demand and supply of the cryptocurrency itself. But the most beneficial i think that nobody controls the price was the freedom of the traders and investors to apply the tactics and strategies they have without following the certain rules. Title: Re: Is it really a benefit that nobody controls the price? Post by: Negotiation on March 14, 2021, 07:30:43 AM It's really a matter of many benefits that no one can control the price of crypto make capital by investing as they wish and manages the currencies at will part of the profit is not to be shared with anyone if the government controlled then the government has to subsidize. Everything will be run according to the government it is very good news to all traders that crypto is not controlled by anyone.
Title: Re: Is it really a benefit that nobody controls the price? Post by: batang_bitcoin on March 15, 2021, 07:11:42 PM It's really a matter of many benefits that no one can control the price of crypto make capital by investing as they wish and manages the currencies at will part of the profit is not to be shared with anyone if the government controlled then the government has to subsidize. Everything will be run according to the government it is very good news to all traders that crypto is not controlled by anyone. That's what decentralization is all about, to avoid any intervention and control by the government. If merchants wishes to accept crypto then they know the risk that it has and one characteristic that it has too. And that is to accept its volatility, price varies from time to time and it's quickly happening. The third party providers have made that solution for merchants to avoid the possible losing value of the coins that they have received and one TP is like Bitpay.Title: Re: Is it really a benefit that nobody controls the price? Post by: DarkDays on March 15, 2021, 08:48:14 PM We can really appreciate the benefits we got in a decentralized market. Traders, investors love it because there is no such market manipulation to happen. You can never say with 100% accuracy that no one person can control the market. It all depends on the market, it's liquidity and how rich the person is. In theory, with a low market cap coin, manipulations of market prices as I'm sure you all have seen are possible. Being decentralised doesn't mean you can't influence the price in the direction you want - people can, and have done it before. What decentralisation means is that it makes it increasingly harder for such manipulation to occur unlike in traditional centralised markets. And is that a benefit? Let me just say to you that one person with all the power is not a good thing, never has been, so decentralised market makers etc is much better than the alternative. Title: Re: Is it really a benefit that nobody controls the price? Post by: TheUltraElite on March 17, 2021, 06:33:58 AM The fact that volatility is there does not necessarily change the price of the article being sold by the merchant by an extent that it need a huge price adjustment.
Say bitcoin was priced at 60k USD and now dropped to 55k USD in 2 days. What is the percentage drop in price? 8.33% so if your article was priced at 10 dollars, the new price of the same will rise by 8.33% to keep the USD value of the article same when someone buys it. That makes it hardly a dollar more to an exact of 10.83$ to buy it with bitcoin at the lowered price. That is considering the huge price drop that happened in the last two days, if that happens once again then only this situation arises. Of course you may say that a dollar extra means a huge amount in your local currency, which in my case it is, but I consider that there are alternative methods to bypass this issue. For example they can change to default USD prices when the price surges are more than +/-5%. 8) Title: Re: Is it really a benefit that nobody controls the price? Post by: zanezane on March 17, 2021, 06:43:16 AM ~ I do believe also that it is much beneficial that no one have control over the price, no one gonna assign a certain amount of value of bitcoin especially but the drawback of this was the unpredictable and the volatility of cryptocurrency which is highly dependable on the demand and supply of the cryptocurrency itself. But the most beneficial i think that nobody controls the price was the freedom of the traders and investors to apply the tactics and strategies they have without following the certain rules.Title: Re: Is it really a benefit that nobody controls the price? Post by: barbara44 on March 22, 2021, 08:36:13 AM We can really appreciate the benefits we got in a decentralized market. Traders, investors love it because there is no such market manipulation to happen. This the reason why crypto supporters never wanted to make the government-controlled this. Because if that will happen, we can no longer make a huge profit anymore. And that volatility seems nothing to see anymore, we can't do the "buy low and sell high" and the future will lie in the hands of the controller. Market manipulation is not what we are trying to defend ourselves against in this market, we are not here to make it work for traders, the reason why there is decentralization is that governments, or actually any human on earth doesn't matter who we are talking about, could do something that would hurt currency, look at fiat world, most politicians help people that bribes them but ignores people who needs their help, they change fiat course of action towards helping rich people and bring trillions to help them.This is what we are against in decentralization, that way nobody can touch it, 1 bitcoin is 1 bitcoin and there will only be 21 million of them and nobody can move it around however they want. Manipulation of markets could still happen, I could buy 1 billion dollars worth of bitcoin by just going 10 million per day or even 50 million per day without letting anyone realize it, and when I have 1 billion I can sell it all at once, that's market manipulation. Title: Re: Is it really a benefit that nobody controls the price? Post by: isaac_clarke22 on March 22, 2021, 09:38:53 AM That is the advantages crypto has that has made lot of people to want to deal with BTC and other altcoins. This is not regulated by any financial banking system and much reason some govt are going against the growth and rapid changes digital currencies has seen. When we think about it very carefully, we will know that it is a leverage and the price is not control by anybody, but just by the number of demand. If more people are demanding for it the price will definitely goes up and it will keep going up. A major increase in the price can turn someone's life around and a little drop some turn a millionaire to a thousandnaire. Indeed.That leads to an unstable price as well because nobody sets up a price ceiling as well as floor. Just buy and buy and buy, and from that we'll come upon a demand increase causing the price to go and bounce all over the room. Title: Re: Is it really a benefit that nobody controls the price? Post by: Ziskinberg on March 22, 2021, 03:09:05 PM Some people are too wary when the market dumps, probably they think negatively. But they never know that this is a big opportunity to buy more in anticipation of the incoming pumps.
Volatility, the uncontrolled market price gives the reason why we gain and sometimes we lose. But above all, this helps the majority to make their investment multiplied many times. Just to imagine that the price of Bitcoin now is almost $60k, this couldn't be possible if the price is controlled by someone and we are happy that it won't. Title: Re: Is it really a benefit that nobody controls the price? Post by: StartupAnalyst on March 22, 2021, 07:27:50 PM Everything is easy: continue don’t to use crypto in your business. More risky and wealthy companies such as Tesla, Microstrategy, Galaxy Digital and a lot of others had invested in BTC huge money and hold it to make profit. Volatility of cryptocurrencies brings them (and to all the traders as well) benefit so there is no practical need in making crypto stable.
Title: Re: Is it really a benefit that nobody controls the price? Post by: blockman on March 22, 2021, 08:54:12 PM Some people are too wary when the market dumps, probably they think negatively. But they never know that this is a big opportunity to buy more in anticipation of the incoming pumps. Because what they only want to see is the pumping of price and there's no balance in the dumps. It's always frustrating to see that the market would move on its correction and we don't want that to happen if we're only wanting to check our portfolio's capacity and market value. But it is the reality that whenever a correction comes, it must be an opportunity that they should take and do buy as they wish on those times. Title: Re: Is it really a benefit that nobody controls the price? Post by: dimonstration on March 22, 2021, 08:59:27 PM Everything is easy: continue don’t to use crypto in your business. More risky and wealthy companies such as Tesla, Microstrategy, Galaxy Digital and a lot of others had invested in BTC huge money and hold it to make profit. Volatility of cryptocurrencies brings them (and to all the traders as well) benefit so there is no practical need in making crypto stable. Btc is more of as investment for them but they might create their own cryptocurrency for the transactions purposes relating to their businesses. Sometimes it's better to know nobody's control the fund as we will be more focused on trading and studying the market. There are so much to study with and to apply knowledge when it comes in crypto to be able to earn unlike in controlled funds where nowadays which sometimes gives no impact knowing they might do exit scam. Title: Re: Is it really a benefit that nobody controls the price? Post by: ice098 on March 26, 2021, 03:48:30 PM Because what they only want to see is the pumping of price and there's no balance in the dumps. It's always frustrating to see that the market would move on its correction and we don't want that to happen if we're only wanting to check our portfolio's capacity and market value. But it is the reality that whenever a correction comes, it must be an opportunity that they should take and do buy as they wish on those times. What's exactly a reality, we do curious or feel anxious why there are a sudden downfall on the crypto market especially bitcoin which as far as i know now the market was totalky boom and in fact we are now have a lot of huge investors and the bitcoin were now used and accepted as a mode of payment like Tesla but why there still those fluctuations? And simply it is because cryptocurrency was volatile and to be honest the fact that the government has no control over it was the beneficial among other reason. Title: Re: Is it really a benefit that nobody controls the price? Post by: imstillthebest on March 26, 2021, 04:29:29 PM you dont really like crypto if you cannot accept everything from crypto including its volatility .
so many merchants are here in crypto and they arent even afraid of the volatility but what is important for them is to serve their costumers with better payment option . your just a merchant , your not investor and traders that cant pull out their crypto easily til they make a profit, why complain . Title: Re: Is it really a benefit that nobody controls the price? Post by: palle11 on March 26, 2021, 11:21:44 PM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. The beauty of it all is the volatility because no control and it can not be manipulated or regulated by any government. Is a free place to make profit or the other side, losses ;D And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? That volatility you fear is what may likely happen. A rush in crypto trade gets everybody to buy in expectation of bull because rush itself means hype. It is going to also have effect to the global economy at a time people will pull out with profit, that will mean plenty money in circulation and that can lead into inflation. Title: Re: Is it really a benefit that nobody controls the price? Post by: wiss19 on March 27, 2021, 04:58:18 PM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? Well, you can’t change that, the price of Bitcoin will continue to be volatile so it’s either that you start switching it to stable coins like PAX and USDT after making sales or you can just totally convert the coins you receive to fiat, that’s the solution for me, if you’re not going to do that the. You can continue with holding the coins like that if you can take the loss.Solution- price limits! If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. Though the price has been going up lately. But still make use of this method , look for a means to be converting. I know other merchants that do the same thing, they don’t hold BTC, they convert it once they get it and they make use of P2P in converting which helps them set their rate and make more profit on every dollar sold. Title: Re: Is it really a benefit that nobody controls the price? Post by: goldade on March 28, 2021, 11:34:36 AM As a merchant and business owner, you shouldn't use bitcoin as a means of exchange. Bitcoin is not a stable coin which means it will always be volatile. You should use stable coins like the usdt and busd.
It is even funny how that when we talk about the volatility of the price of bitcoin we look at it in the negative light. What if you start accepting bitcoin and because of volatility the price increases tremendously. You'd be grateful for the volatility. You should know that this is what helps hodlers to make money. Buying when the price is low and selling at a higher price which can only happen because of volatility Title: Re: Is it really a benefit that nobody controls the price? Post by: Fredomago on March 28, 2021, 11:47:53 AM As a merchant and business owner, you shouldn't use bitcoin as a means of exchange. Bitcoin is not a stable coin which means it will always be volatile. You should use stable coins like the usdt and busd. It's risky in terms of volatile nature of this asset, but always depends from how you understand the market and how willing you are to take the risk. Quote It is even funny how that when we talk about the volatility of the price of bitcoin we look at it in the negative light. What if you start accepting bitcoin and because of volatility the price increases tremendously. You'd be grateful for the volatility. Yeah, volatility also have something to thank, if you made it in the right timing you'll be able to get good compensation don't just look at the the negative side but also consider the good side of this industry. Quote You should know that this is what helps hodlers to make money. Buying when the price is low and selling at a higher price which can only happen because of volatility Traders are always aiming to make things favorable though not always but the chance is far better to those who take things seriously and deal with their research. Title: Re: Is it really a benefit that nobody controls the price? Post by: cheezcarls on March 28, 2021, 01:00:16 PM That’s how cryptocurrency trading works man. You can’t control the price of a coin or token, unless you are a whale where you can manipulate it all you want. You just have to accept the fact that the prices are unpredictable and it can go up or down without warning. It can be any minute now, or several minutes, hours, days, weeks, etc. It’s better to manage risks properly, and only invest and trade what you can afford to lose.
Title: Re: Is it really a benefit that nobody controls the price? Post by: darewaller on March 28, 2021, 04:33:12 PM I do not think that "nobody controls the price" is a true statement. I mean rich people controlled the price for a while now, back in the day it was the whales who got bitcoin for cheap that decided what hte price will be because they sold anytime they want.
I remember clearly in 2018 there was 3 instances where whales ended up selling and dropping the price, this was mainly mt.gox trustee and Craig wright and one more stuff I do not remember now, and they dropped the price a lot. And secondly we are talking about today where companies are buying in billions of dollars so they are increasing so they are changing the price as well. It means all together they do control the price, they used to as well and they still do, people who control it changed bu the price stayed under control of someone anyway. Which is why I do not think that it really means something. Title: Re: Is it really a benefit that nobody controls the price? Post by: batang_bitcoin on March 28, 2021, 11:24:50 PM you dont really like crypto if you cannot accept everything from crypto including its volatility . Merchants have the option to convert every crypto that has been paid to them into fiat easily through services like Bitpay. It's the common third party service that makes other merchants and businesses accept crypto without even thinking about the volatility.so many merchants are here in crypto and they arent even afraid of the volatility but what is important for them is to serve their costumers with better payment option . your just a merchant , your not investor and traders that cant pull out their crypto easily til they make a profit, why complain . But unlike them, Tesla has the balls accepting bitcoin payments directly and as they've said, they're not going to convert it to fiat. Title: Re: Is it really a benefit that nobody controls the price? Post by: Shasha80 on March 28, 2021, 11:44:12 PM I can understand you are complaining about the volatile Bitcoin price, because you accept Bitcoin payments. Maybe you feel a lot of losses when
getting paid in Bitcoin. If that's the only two options I suggest to you, the first to stop accepting payments in Bitcoin and replace receiving payments with stable coins. And the second suggestion is to use an application that directly converts the Bitcoin you receive into fiat. There is always a solution for every problem we face, so don't blame volatile Bitcoin. What we have to do is make the volatile Bitcoin price a benefit, even though if you are a little patient the Bitcoin price can go up and the Bitcoin you receive its value can be even higher. Because I'm sure there are still a few people who buy using Bitcoin at your merchant. So you should just HODL the Bitcoin that you get from customer payments. As done by TESLA, accepts Bitcoin payments and does not convert them to fiat. Title: Re: Is it really a benefit that nobody controls the price? Post by: Hamphser on March 28, 2021, 11:54:37 PM you dont really like crypto if you cannot accept everything from crypto including its volatility . Merchants have the option to convert every crypto that has been paid to them into fiat easily through services like Bitpay. It's the common third party service that makes other merchants and businesses accept crypto without even thinking about the volatility.so many merchants are here in crypto and they arent even afraid of the volatility but what is important for them is to serve their costumers with better payment option . your just a merchant , your not investor and traders that cant pull out their crypto easily til they make a profit, why complain . But unlike them, Tesla has the balls accepting bitcoin payments directly and as they've said, they're not going to convert it to fiat. I agree on what you had said about Tesla's decision about never making some conversion into the profits that they would make in the business which does signifies that they are really serious when it comes to bitcoin utility or actual usage. When it comes to price control then this market is somewhat get rid of that possibility but we can deny that there are really big whales and institutions that could really make out significant effect. Title: Re: Is it really a benefit that nobody controls the price? Post by: Yamifoud on March 29, 2021, 07:12:58 AM I can understand you are complaining about the volatile Bitcoin price, because you accept Bitcoin payments. Maybe you feel a lot of losses when No wonder that he might choose the 2nd option. And I did the same if we are not confident with the market. But in the investors side, volatility is an ideal market which it enable for them to generate profit in uncertain times. getting paid in Bitcoin. If that's the only two options I suggest to you, the first to stop accepting payments in Bitcoin and replace receiving payments with stable coins. And the second suggestion is to use an application that directly converts the Bitcoin you receive into fiat. There is always a solution for every problem we face, so don't blame volatile Bitcoin. What we have to do is make the volatile Bitcoin price a benefit, even though if you are a little patient the Bitcoin price can go up and the Bitcoin you receive its value can be even higher. Because I'm sure there are still a few people who buy using Bitcoin at your merchant. So you should just HODL the Bitcoin that you get from customer payments. As done by TESLA, accepts Bitcoin payments and does not convert them to fiat. It is a nice thing to see that Bitcoin price is not controlled by someone and no manipulations to happen so people likely to have more speculations. Besides, we can never get this far (today's situation) when the future of Bitcoin lies on the hand of one person. Title: Re: Is it really a benefit that nobody controls the price? Post by: blckhawk on March 29, 2021, 02:12:08 PM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. Not all the coins in crypto are volatile as you think because there are lots of stable coins to be used instead such as USDT, USDC, BUSD, and more. You don't actually need to use volatility coins like Bitcoin if you can't take the risk. This volatility makes this market very attractive for investors and being decentralized so that no one can manipulate the whole market makes it challenging and interesting. Sure it was a lot riskier compared to other markets but along with it, the profit was really rewarding. Investing in Crypto is just like having a 50:50 ratio, 50 percent chance you could lose half of your wealth especially if you really have no idea what you're doing but you also have a 50 percent chance to grow it a couple more times. Title: Re: Is it really a benefit that nobody controls the price? Post by: fullhdpixel on March 30, 2021, 09:28:58 AM Well, you can’t change that, the price of Bitcoin will continue to be volatile so it’s either that you start switching it to stable coins like PAX and USDT after making sales or you can just totally convert the coins you receive to fiat, that’s the solution for me, if you’re not going to do that the. You can continue with holding the coins like that if you can take the loss. Yeah, even before this time Bitcoin has already reached a level where it can’t be easily manipulated by anyone, so we have already achieved that without all these rich guys that are popping out of nowhere. It’s only altcoins, especially the small market cap altcoins that can easily be manipulated by some P and D groups.Though the price has been going up lately. But still make use of this method , look for a means to be converting. I know other merchants that do the same thing, they don’t hold BTC, they convert it once they get it and they make use of P2P in converting which helps them set their rate and make more profit on every dollar sold. Moreover, they are not the only ones that have decided to ban cryptocurrency, the recent news that I have seen trending online is the Central Bank of Nigeria banning cryptocurrency, but all these things won’t affect the market in any way, because people living in those countries will now be switching to decentralized exchanges. So we still move. Title: Re: Is it really a benefit that nobody controls the price? Post by: XZERO1 on March 30, 2021, 10:12:04 AM Many people don't like the feeling that they're trading in a controlled market, that's just one of the reasons why crypto is so popular.
Only those who are invested or about to invest too much money into this would like the idea of someone controlling the price so it doesn't go up or down too much, I even think crypto would be dead if there was anythig like that since one of the main features of crypto which makes it so special is the fact that it is decentralized and I'm not sure it would be a very good move to centralize a market that has decentralized coins/tokens being traded there, as a matter of fact you would only do that if you want to kill crypto market and not help it. Title: Re: Is it really a benefit that nobody controls the price? Post by: AakZaki on March 30, 2021, 06:24:16 PM Not all the coins in crypto are volatile as you think because there are lots of stable coins to be used instead such as USDT, USDC, BUSD, and more. You don't actually need to use volatility coins like Bitcoin if you can't take the risk. This volatility makes this market very attractive for investors and being decentralized so that no one can manipulate the whole market makes it challenging and interesting. Sure it was a lot riskier compared to other markets but along with it, the profit was really rewarding. Investing in Crypto is just like having a 50:50 ratio, 50 percent chance you could lose half of your wealth especially if you really have no idea what you're doing but you also have a 50 percent chance to grow it a couple more times. To be clear, crypto is the right place to make bigger and faster profits but with a high risk. there is no market manipulation by the government, prices go up and down depending on buyers and sellers.However, if you don't have basic trading, the possibility of losing is very big. At least you have to know the basics of trading to make profit from any price fluctuations in crypto. I myself managed to get profit every day in crypto and only crypto can provide a bigger income for me. Title: Re: Is it really a benefit that nobody controls the price? Post by: JooBra on March 30, 2021, 06:40:48 PM Not all the coins in crypto are volatile as you think because there are lots of stable coins to be used instead such as USDT, USDC, BUSD, and more. You don't actually need to use volatility coins like Bitcoin if you can't take the risk. This volatility makes this market very attractive for investors and being decentralized so that no one can manipulate the whole market makes it challenging and interesting. Sure it was a lot riskier compared to other markets but along with it, the profit was really rewarding. Investing in Crypto is just like having a 50:50 ratio, 50 percent chance you could lose half of your wealth especially if you really have no idea what you're doing but you also have a 50 percent chance to grow it a couple more times. To be clear, crypto is the right place to make bigger and faster profits but with a high risk. there is no market manipulation by the government, prices go up and down depending on buyers and sellers.However, if you don't have basic trading, the possibility of losing is very big. At least you have to know the basics of trading to make profit from any price fluctuations in crypto. I myself managed to get profit every day in crypto and only crypto can provide a bigger income for me. Title: Re: Is it really a benefit that nobody controls the price? Post by: DarkDays on March 30, 2021, 07:09:20 PM If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. Title: Re: Is it really a benefit that nobody controls the price? Post by: iv4n on March 30, 2021, 07:26:15 PM Quote Is it really a benefit that nobody controls the price? By this, I think you are referring to decentralized markets... so let's go back to basic, the price is determined by supply and demand, depending on the market cap one whale or a group of whales can shake the supply and demand, therefore they can affect the price! So let's focus on the whales... in fiat (traditional currencies) whales are countries and banks, wealthy individuals like Rothchild's, Gates (and many others)... they can control the market, big part of the market... and ordinary people here don't have a vote... In crypto, the story is a bit different... here we have many individuals across the world with a small or big stash of coins, but we have a vote... we decide to sell or buy and we decide to contribute to something or not! In the end, there are ways for controlling the price, and all sorts of manipulations are possible in all markets... but we can ask ourselves do we wish to have some vote in that or not!? I think crypto is giving us the opportunity for that! Title: Re: Is it really a benefit that nobody controls the price? Post by: Jemzx00 on March 30, 2021, 07:56:47 PM Quote Is it really a benefit that nobody controls the price? By this, I think you are referring to decentralized markets... so let's go back to basic, the price is determined by supply and demand, depending on the market cap one whale or a group of whales can shake the supply and demand, therefore they can affect the price! So let's focus on the whales... in fiat (traditional currencies) whales are countries and banks, wealthy individuals like Rothchild's, Gates (and many others)... they can control the market, big part of the market... and ordinary people here don't have a vote... In crypto, the story is a bit different... here we have many individuals across the world with a small or big stash of coins, but we have a vote... we decide to sell or buy and we decide to contribute to something or not! In the end, there are ways for controlling the price, and all sorts of manipulations are possible in all markets... but we can ask ourselves do we wish to have some vote in that or not!? I think crypto is giving us the opportunity for that! Not only their money makes them powerful but also their influence which is enough to pump or dump the market just as how Elon Musk and his company made an impact on bitcoin price increase. We must be on the watch to them as they that powerful to affect the market. Huge holders and whales can't be compared to these billionaires as their influence can be used as a FUD or to HYPE the market. Title: Re: Is it really a benefit that nobody controls the price? Post by: FanEagle on March 31, 2021, 01:38:38 AM Precisely what makes many people interested in crypto is the high level of voting. there is no control and everyone is free to buy or sell. if you mean everyone has a limit in purchases, surely the increase that is happening now is not high. Elon Musk, Micosoft, Paypal one of the big companies making large purchases is a positive thing. for dump and also FUD that happens all depends on each person reacting to it. Sometimes the dump that occurs is just an issue that makes traders panic and the whales can buy cheaply That would be idiotic for a place to do of course but we are talking about exchange and not bitcoin. You are saying bitcoin is free and that's why people like it because there is nobody controlling it, there would still be nobody controlling it.There would be exchanges putting a new thing in there which would limit your buy and sell of bitcoin but they would not be controlling the bitcoin itself, in a matter of speaking they would be controlling you and what you do with your bitcoin, so there is a difference, if they were to control bitcoin that would mean stuff like moving bitcoins around from any wallet they want, seizing bitcoins from others wallets, printing more bitcoins, taking from you and giving to people who have more, these are all the things governments do for fiat currency, hence it's not a shock that bitcoin would be like that, but it's not. I still think that limiting the trading would be idiotic as well of course. Title: Re: Is it really a benefit that nobody controls the price? Post by: pankowri on March 31, 2021, 04:24:15 PM That is beneficial from maximum sides. In cryptocurrency, there is no person to control the market it makes the system corruption-free, greed-free, emotion-free, technically strong and used a strong variation of formula which can balance the equity. This ensures to published original face or condition of the market.
Title: Re: Is it really a benefit that nobody controls the price? Post by: Om.monata on April 01, 2021, 06:03:28 PM bitcoin will not be able to do for restrictions. I don't imagine if bitcoin is restricted and what about volatility? I think Bitcoin still needs volatility to be able to set the price for traders. So I thought it would be a bad idea if there was a bitcoin restriction
Title: Re: Is it really a benefit that nobody controls the price? Post by: Zilon on April 02, 2021, 05:29:20 AM Bitcoin volatility would keep increasing and this is inevitable. If you are scared of loosing your fortune it's advice your HODL your coin which could be termed investing on Bitcoin. Buying Bitcoin and storing them in your wallet with the hope it would rise in the nearest future would be the best approach to curb the high volatility you are scared of. Investing has limited risk and would keep you on a reasonable profit after a long period of investing
Title: Re: Is it really a benefit that nobody controls the price? Post by: AicecreaME on April 02, 2021, 10:28:54 AM I can't afford to lose half my wealth from a random crash. I think you don't understand how cryptocurrency really works. The time you're gonna lose half of your wealth is when you withdraw your funds after a random crash (which is normal) because of what we called "Volatility". Price fluctuations won't take away your profits, 1 BTC will remain 1 BTC even if the price go down from $58,000 to $50,000, all you need is patience, a lot of it to make profits to secure your wealth. And because nobody controls Bitcoin, it's great to avoid deflation. I mean go fo fiat if you want a regulated one and have inflation, your choice. Title: Re: Is it really a benefit that nobody controls the price? Post by: Dorjoy Khan on April 02, 2021, 04:38:24 PM I like crypto but, as a merchant and business owner, price volatility keeps me from accepting it. The price is heavily influenced by hype and FUD and I can't afford to lose half my wealth from a random crash. And what would it do to the global economy if everyone blindly jumped in without some sort of protection from a massive loss of wealth? So it is okay to give the price control to the exchanges? Which is even again decentralization the basic thing why everyone need to move to cryptocurrencies. Exchanges don't have such limiting feature a d they should not have it too.Solution- price limits! If even one crypto exchange in the world adopted a policy to limit the prices of buy and sell orders to within a small percentage of the daily opening price, say +/- 1% for example, volatility would disappear. Bitcoin is currently priced around $50k, this would limit Bitcoin volatility to no more or less than $500 a day. Here's how the market would react. 1. If the price of a coin is lower on other exchanges, traders will buy from them and sell on this, right? That will cause the price on those exchanges to rise. 2. If the price is higher on other exchanges, traders will buy from this exchange to sell on those, right? That will cause the price on those exchanges to fall. This means the market will keep correcting itself until all prices are closely pegged to the prices on this exchange. The market is growing every year so the volatility will reduce with the increase in adoption nit by any limiting feature. Title: Re: Is it really a benefit that nobody controls the price? Post by: Findingnemo on April 02, 2021, 06:17:53 PM snip~ Volume of BTC can be controlled, volume of ethereum can be controlled and volume of any coin can be controlled by the exchanges and I am saying word control is manipulate because they can create fake trade orders and increase the trading volume. In the past there was an article posted about the actual trading volume on the exchanges which is a lot less compared to what is the volume mentioned by the exchange.without any doubt this will be possible only when a coin has unlimited supply but if any exchange want to control any good ranked crypto coin then it is totally impossible .. You know well about shit exchange right such as yobit ? there has lot of fake coin which trading volume got increase by yobit team when ever they want but they can not control good crypto and no exchange will be able to do so ever . Title: Re: Is it really a benefit that nobody controls the price? Post by: Hypnosis00 on April 02, 2021, 10:03:01 PM I'm really comfortable with the market like this, uncontrollable price, market volatility which we can see that the benefits we got is huge. Can we imagine a certain country that has been ruled by corrupt leaders? That we will experience if the market has that kind of control. May we ask why there is price manipulation? yes, we have but it doesn't mean that we are totally in control with these whales, no. This is just a short-term effect coz after they achieve their goal, they will leave.
Title: Re: Is it really a benefit that nobody controls the price? Post by: TheUltraElite on April 08, 2021, 05:50:56 AM bitcoin will not be able to do for restrictions. Bitcoin is decentralized and censorship resistant. Its price is not controlled by a central institution but by the supply:demand ratio.Quote I don't imagine if bitcoin is restricted and what about volatility? The idea of volatility is much less in the last year. Price trends show that dropping down to zero is very less likely. Earlier when bitcoin was still in its three digit prices, the no-coiners would cite volatility as the reason why they chose not to put any money in it. It is the same no-coiners who are sulking of not having bought at that price then.Quote I think Bitcoin still needs volatility to be able to set the price for traders. So I thought it would be a bad idea if there was a bitcoin restriction Nobody can restrict bitcoin mate, as long your electricity is intact. However country governments might put restrictions on traders in future. But its price does not depend on that.It has both its good and bad things. One thing that I would defenitely like to see is a government acceptance of use of bitcoin but not control over its supply. Title: Re: Is it really a benefit that nobody controls the price? Post by: adzino on April 08, 2021, 06:58:06 AM Who told you no one controls the price. Everyone together sets the price of bitcoin and other crypto currencies. This is how the decentralized market works. The supply and demand determines the price and it is us who creates both the supply and demand. But unfortunately, manipulations do take place from time to time, but those affect the price in the short run. Whales can manipulate the price by causing an artificial shortage or abundance in the market. But as more people starts to enter the market, the harder its going to get to manipulate the market. The only disadvantage is that it may cause a huge volatility (again for a short term) from time to time due to FUDs and FOMOS.
Title: Re: Is it really a benefit that nobody controls the price? Post by: Kong Hey Pakboy on April 08, 2021, 07:36:14 AM I'm really comfortable with the market like this, uncontrollable price, market volatility which we can see that the benefits we got is huge. This comfort is thanks to the fact that no one is controlling the prices, and if the market is controlled by an entity then it wouldn't be profitable for individual investor to invest in the market because they are at the mercy of the controllers which is going to move the market whenever it fits their interest.Title: Re: Is it really a benefit that nobody controls the price? Post by: Distinctin on April 09, 2021, 11:23:55 PM Some people think that the whales are controlling the market price and maybe they are is they can manipulate the market so easily but wondering why people are so happy when the hypes started? Yeah, the hypes made by these whales make holders and crypto investors double, triple, (or even more) their profit. And that is why we are so thankful for having them but this doesn't mean that these people are totally in control of the market, they are just also market players who keep the market becomes more volatile.
Title: Re: Is it really a benefit that nobody controls the price? Post by: blockman on April 09, 2021, 11:34:21 PM This comfort is thanks to the fact that no one is controlling the prices, and if the market is controlled by an entity then it wouldn't be profitable for individual investor to invest in the market because they are at the mercy of the controllers which is going to move the market whenever it fits their interest. Yes, if there's no control, we can also take advantage of it. But if it's controlled, there is no way that small traders or investors can take advantage of it. We've seen that happen in the traditional markets. |