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Yes,bitcoin price is not stable because of its decentralized nature.Its volatile nature could not be solved.It is due to this volatile nature,bitcoin has not been yet legalized in many countries and also it has not been accepted by many merchants.Its price could not be made stable since it is not a nation's currency which is controlled and regulated totally by the appropriate countries.
Unless,its price does not gets stable,it will not replace currency but it would be rather used as a secondary currency.
Unless,its price does not gets stable,it will not replace currency but it would be rather used as a secondary currency.
Bitcoin has alot of hurdles to cross to be able to replace fiat.
Volatility is just one aspect why Bitcoin might not be able to replace fiat. atleast all currencies do fluatuate in value on a daily basis, so that's not unique to Bitcoin. I think it's also important to know that bitcoin is technology based, unlike fiat requiring at minimum internet connectivity making those who live in places without good networks and those who do not have the technoloical knowledge to manage their own transaction not merge well with the concept.
