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#Authentication Post
Type of campaign: Translation
Bitcointalk Username: disappear4ever
Language:Chinese
Portfolio link:https://docs.google.com/document/d/19b2ahIy8zbkxhSYA5IhwLmF8idH1hS28_FP8oV5m4Rg/edit
Telegram username:@ericgao
ERC20 wallet address:0x4acFC8F7C9d5441348C514bceC8b5aAe44D575F9
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#JOIN & #Proof of authentication
1) Your Bitcointalk username :disappear4ever
2) Bitcointalk profile link :https://bitcointalk.org/index.php?action=profile;u=2206869;sa=summary
3) Telegram @Username : @iamericgao
4) ETH wallet address :0x4e7001A6C675Ffc36992e0e73dFF5c5ba7D69Dd6
5) Mail Adress :gao9002@hotmail.com
6) Which campaign(s) you are participating in : Chinese translation
7) You must have work experience as a translator in other bounty programs (links to your previous works Google drive Link pleace ):https://docs.google.com/document/d/19b2ahIy8zbkxhSYA5IhwLmF8idH1hS28_FP8oV5m4Rg/edit
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Bitcoin nature is such that it can not be stable because it is speculative and also decentralized. This is why the price of bitcoin is volatile. Currency that can be stable if it is centralized and controlled by the government. Even if bitcoin finally is globally accepted and replaced fiat money but still remains decentralized it will never be stable but continue to be volatile.
Bitcoin's nature is "A peer to peer to peer electronic cash system" that is the vision Satoshi gave to it from the very beginning. What does it mean? First, it is cash, second, it is used for transactions/payment, speculation is just the temporary phenomenon as bitcoin still in its teenage. So if it can be used for transaction/payment: 1) Its total market cap should be huge, much more than current $100B, maybe ten times more, which means the price of bitcoin will keep going up; 2) It tends to be stable & atcs as currency function or we can neglect its volatility when we use it as a payment method. Of course it will not replace fiat currency as national digital currency is on its way to us, bitcoin will act as the real global currency, more than others. |
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In fact. The Bitcoin is a very amazing crypto token in the crypto world. It has a very long lifetime and its future is very bright. I hope BTC can reach again it's last higher price value. At this time the BTC price not stable. But it means did not say its a bad coin. I hope and I believe the Bitcoin will more stable in the future. I really pleasured because I'm a BTC holder.  Long bitcoin!!!  |
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There is no crypto that is stable, crypto will always be volatile because of its anonymous character. If you want to invest more stable coin, you can try USDT, the up and down in prices is not so deep.
So you think bitcoin only for speculating? Stable coin not for investment, it is a tool for minimizing the risk in your absense from buy/sell actions. |
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• Your Language: Chinese
• Reference to previous works (at least 3):https://docs.google.com/document/d/19b2ahIy8zbkxhSYA5IhwLmF8idH1hS28_FP8oV5m4Rg/edit
• Translating Whitepaper, ANN thread, One-Pager or all: All
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if in my opinion the price of bitcoin will never be as stable as bro. because until now I have never seen the price of bitcoin as stable. if we consider the price of bitcoin rising slowly. but if it's gone down the price immediately falls sharply ..
If bitcoin will not be a stable coin , then the only use will be for speculating & there is no difference between bitcoin and thousands of altcoins, I am pretty sure that is not the reason bitcoin created. |
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you actually need to know the basics of both Bitcoin and Stablecoins so that you can analyze them properly. Bitcoin is nothing related to Stablecoin.
Very interesting & to avoid any misunderstanding, could you extend this topic to a more detailed one then we can discuss further. |
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The investors feel that Bitcoin is a more stable coin thats why quickly sold their coin to invest but the price is discouraging as it stands now but the market will come up again in due time.
I guess it is an intrinsic & reasonable action which has to be made in a very short time. Regarding Tether, I am looking down to it as their only have one advantage which is they are the first mover, but more disadvantage. There is no doubt that the market will come up again, but in a long-term view, Tether & those new stable coins pegged with fiat currency are pseudo-proposition, and the only opportunity is for bitcoin in the future.[/b][/color] (stop using blue and bold it is annoying!) was Tether really the first stable coin created? I don't really remember but I think there were other stable coins very similar to Tether if not sooner but they were around alongside each other. it is just that Tether has the benefit that it is created by the same company as Bitfinex and having a big exchange behind it made it big not it being first. (your suggestion accepted) Now as you may know there already other sereral stable coins available market, but Tether still in dominance, it is right Bitfinex is a very important factor behind Tether's growing big. |
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Bitcoin may one day become a lot more stable but I doubt it will ever get to the point where it will be referred to as a stable coin since it's price isn't pegged against anything.
I think that is the value of bitcoin in comparing with other altcoins, it is independent & can create something new - just as itself. |
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I doubt if bitcoin can become a stable coin in the future.
there are many investors who are interested in bitcoin because of the value volatility.
Frankly, I will be very disappointed if bitcoin only used for investment purpose. It's unique & valuable with own vision, so I am expecting bitcoin play a more important in blockchain world, not just in cryptocurrency sector. |
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It is a coincidence, but why most of people who cash out their USDT to bitcoin, I do not think the coincidence can explain it.
when you sell an altcoin and get bitcoin in return, that doesn't change bitcoin price. otherwise bitcoin price should have shot up to the moon every day since there is a couple of altcoins being dumped (after their daily pumps). USDT is not an exception.
It did not change bitcoin price, but it showed us the investor's choice when they meet emergency, that is the nature of bitcoin - trustworthy.
USDT should not be an exception because it is a STABLE coin, maybe 2-3% up and down is acceptable, but not like that big.I did not mean bitcoin is a stable coin for now, but it started to show to us there is a potential to be a stable coin
again you are using the wrong term. bitcoin is now stable. it is not a stable coin. and this stability is a short term trend not something that will last forever. eventually when mass adoption is reached years from now, we can see a better stability. It is not a stable coin and I never said it is stable coin for NOW, but who can guarantee it will not be one after 10 years? it will keep going up & get stable at some price level.Their fluctuation in the past leads to the birth of USDT。
you are wrong. USDT was not created because of fluctuations. instead it and all the similar ones were created because people who are trading cryptocurrencies prefer not to have anything to do with fiat. so having something that "acts similar to fiat" is useful. I do not think so, USDT created because investors need it in their trading in exchange. For example, when they go to sleep, they wanna keep their profit in hand & will change them to USDT. Maybe some investors act as you mentioned above, but I am pretty sure it is not the majority. You think Tether has no trouble, ~
i don't know how you got that from my comments! Tether is in fact one of the shadiest and riskiest altcoins that has been created.  |
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The investors feel that Bitcoin is a more stable coin thats why quickly sold their coin to invest but the price is discouraging as it stands now but the market will come up again in due time.
I guess it is an intrinsic & reasonable action which has to be made in a very short time. Regarding Tether, I am looking down to it as their only have one advantage which is they are the first mover, but more disadvantage.
There is no doubt that the market will come up again, but in a long-term view, Tether & those new stable coins pegged with fiat currency are pseudo-proposition, and the only opportunity is for bitcoin in the future. |
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If it is stable then it will not be attractive to investors anymore
Starting from its birth, bitcoin needs their believer to warm the market & people benifited from their believing. But the development of crypto currecy & blockchain mixed with our real life, bitcoin needs less speculators & more scenarios for using as payment, so of course, it will be not a good investment target.
On the other hand, bitcoin is not a public chain as ETH & EOS, on which there is a ecosystem consist of Dapps. But bitcoin is unique with its own vision which is different as ETH & EOS, that is why I raised this topic to discuss about it. |
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In the past two months, bitcoin's fluctuation very small except for 10/15 accident of USDT, which caused a sudden & incredible price increase of bitcoin/eth, at the same time, many investors dumped their USDT & bought bitcoin instead - hence in fact, bitcoin took the responsibility of acting as a stablecoin, which is very interesting.
Why did they change to pursue bitcoin in such a panic situation? Which kind of true value bitcoin can bring to them? Will bitcoin turn into a real stablecoin in the future? Is it possible for bitcoin to be a popular tool in the payment industry? .....
No way Bitcoin as a role of a stable coin and it will never happen unless some took over the BTC control. A currency can't be considered stable (coin) of behind the scene it's backed by a fiat currency. So your analysis is wrong already. Also it's the whole crypto market that is currently in a "stablemarket".
I guess the whole crypto market is still in a developing stage & still there will be up and down from time to time, Bitcoin will go up for sure, but it will remain relevant stable when reach some dynamic point, together with the mass adoption of cropto currency, that is when we can use them in our real life. |
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A stable coin is a coin that do not fluctuate up and down regardless of the market condition. Bitcoin been bought as a results of investors selling their Tether does not make bitcoin a stable coin. Bitcoin isn't pegged to a particular fiat currency on 1:1 ratio hence cant be a stable coin.
Why a stable coin must pegged to a fiat currency to be a stable coin? neither gold nor USD. I think only the unique one trusted by most of the people have this opportunity. |
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forever, bitcoin will never be a stable currency.
1. Bitcoin is not backed up by anything.
2. Bitcoin is decentralized
3. Bitcoin is anonymous
4. Bitcoin is not a national digital currency.
bitcoin is not the same as XRP, not the same as USDT. and bitcoin has a different projection from other crypto. bitcoin is special.
1. Bitcoin is not backed up by anything. A stable coin must be backed by something? USDT backed by USD, USD backed by US national credit, so I think those stable coin are fake one as they have no roots.2. Bitcoin is decentralized Is it not an advantage for bitcoin?3. Bitcoin is anonymous I guess with the development of blockchain & bitcoin getting popular, KYC/AML will get popular as well.4. Bitcoin is not a national digital currency. No worry, there will be national digital currency, the governments are planning for it. |
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If the volatility remains this way, it will be for the good of bitcoin and cryptocurrency. It will be more attractive to more people, especially institutions. It will assure the future of bitcoin. Yes. It will be the future secure currency.
No worry, STO is going to bring institutional investors to cryptocurrency world, and the most important thing is it can be used in our real & daily life, as mentioned above that VISA is embracing for bitcoin. |
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