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shane
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November 20, 2015, 08:43:43 AM |
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In my opinion
Bitcoin never can be stable at long time
we know bitcoin is decentralization, so no person can control it
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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faridkifly
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November 20, 2015, 11:20:06 AM |
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i dont know what makes the price going up or down. my hope is the price is stable and rises slowly  |
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StevenLiang
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November 20, 2015, 11:36:21 AM |
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In my opinion
Bitcoin never can be stable at long time
we know bitcoin is decentralization, so no person can control it
No one can control bitcoin for now, moreover in future. BTC price can be stable only if BTC get trusted from a lot people around the world. The reason why bitcoin price very liquid for now (maybe like games money). It's because there are too few people hold and using bitcoin for now. |
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Digit-0
Full Member
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Activity: 199
Merit: 100
in the end, you only find the beginning
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November 20, 2015, 12:27:04 PM |
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Stability will come with time, thats the key, in last years bitcoin grow up a lot but is just a little bit portion of what bitcoin will be in the next 5-10 years.
Thinking on it, i believe that bitcoin price stability will come when people start to adopt it in mass, the more people using it -> the more stability that we will have, i hope so...
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zodiac3011
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November 20, 2015, 02:08:14 PM |
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Stability will come with time, thats the key, in last years bitcoin grow up a lot but is just a little bit portion of what bitcoin will be in the next 5-10 years.
Thinking on it, i believe that bitcoin price stability will come when people start to adopt it in mass, the more people using it -> the more stability that we will have, i hope so...
The world events will directly the price of bitcoin. The more people using it, the more bitcoin's price is affected by the world events. One way I can think of is well the block reward is zero. |
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~Bitcoin~
Legendary
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Activity: 994
Merit: 1000
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November 20, 2015, 04:17:50 PM |
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The only reason of price un-stability is its decentralization so that at whatever people like to sell their coins they can do it. Price will be less volatile if its uses get increased after much of the minable bitcoins get mined.
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USB-S
Sr. Member
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Activity: 574
Merit: 250
In XEM we trust
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November 20, 2015, 05:11:11 PM |
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Price stability is achieved trough adoption. The more people use this technology the less volatile it is. Bitcoin needs to be spread around like butter.
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Lasergun
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https://t.me/laser9un
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November 20, 2015, 06:28:00 PM |
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Probably eMunie is something for you. It will going public in some months time and the target there is always to get a stable price. At least they try it.
In general I don't believe in a concept of fixed prices.
There are also Tether currencies, new assets that move on the bitcoin blockchain through the open source Omni Protocol and 100% backed by traditional currency held in reserves, therefore, 1 tether USD₮ will always equal 1 USD (1 EUR₮=1 EUR, 1 JPY₮=1 JPY). |
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umaOuma
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November 21, 2015, 02:44:17 PM |
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In my opinion
Bitcoin never can be stable at long time
we know bitcoin is decentralization, so no person can control it
Yeah, I don't think can we can have a control on bitcoins when it comes to price stability, the factor of price stability is external and no one has control over it, we just need to go away with the flow and hoping that the value of bitcoins will keep on increasing, even if the adoption level goes high it is very difficult we cannot be sure that price would be stable. |
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thaaanos
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November 21, 2015, 03:02:49 PM |
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It is far easier to stabilize price in a crypto as you can access all transactions
Also no need to centralize to stabilize. There are stable structures that occur in a decentralized way
But it will need a change in the algo. People are reluctant on that part.
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LuckyYOU
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November 21, 2015, 07:06:45 PM |
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I agree with the sentiment of the last posts. It will never be a currency without fluctuation. Like any other assets it is used for speculation.
Investors buy bitcoin and hold onto it because they speculate that the price of their USD f.e. will come in a decline. Thus they want to protect the value of their money and buy bitcoin which creates a price increase.
And so this currency is and always be volatile, which is perfectly normal...
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bitlancr
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November 21, 2015, 07:42:58 PM |
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The only way to achieve this is to have the whales stop with their games.
They have been manipulating the price so long now, it is harming bitcoin. I can't believe they don't understand that. Because of them the currency is slowly yet efficiently corrupted..
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AncilVTwo
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November 21, 2015, 08:22:16 PM |
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im my opinion stability will come if there a lot of people trading bitcoin, that way manipulating the price would be extremely hard and it would bring stability to the bitcoin economy.
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bitlancr
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November 21, 2015, 08:49:23 PM |
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im my opinion stability will come if there a lot of people trading bitcoin, that way manipulating the price would be extremely hard and it would bring stability to the bitcoin economy.
The more bitcoin in more hands makes it harder to manipulate and so the whales can't do anything to manipulate the price. I am afraid it will be years before this will happen though. |
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AncilVTwo
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November 21, 2015, 09:09:58 PM |
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im my opinion stability will come if there a lot of people trading bitcoin, that way manipulating the price would be extremely hard and it would bring stability to the bitcoin economy.
The more bitcoin in more hands makes it harder to manipulate and so the whales can't do anything to manipulate the price. I am afraid it will be years before this will happen though. ya i guess, but bitcoin has been gaining alot of publicity this year. who knows maybe itll become more mainstream. looking forward to bitcoin getting more popular in 2016 |
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Nameless Coin
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November 21, 2015, 09:54:55 PM |
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im my opinion stability will come if there a lot of people trading bitcoin, that way manipulating the price would be extremely hard and it would bring stability to the bitcoin economy.
The more bitcoin in more hands makes it harder to manipulate and so the whales can't do anything to manipulate the price. I am afraid it will be years before this will happen though. Yeah or most likely never. Since the whales would not want to let it go. So they keep on accuming more and more. if you had a golden goose you wouldn't let it go too right? |
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btcbug
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November 21, 2015, 09:55:04 PM |
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Price stability is achieved trough adoption. The more people use this technology the less volatile it is. Bitcoin needs to be spread around like butter.
This. Uncertainty in the value of something naturally leads to price volatility. Bitcoin is going through a natural process of price discovery. For this reason the market cap is small and not many people have come to the realizations that us early adopters have. It takes time! The smaller the market cap, the more a single buy/sell order can affect the price because it's simply a bigger percentage of the whole market. Imagine if the market cap was $5 Trillion. It's hard to imagine it being volatile at that level because for that to happen we'd have to see huge worldwide adoption and usage. At that point there would necessarily be extremely high confidence in the Bitcoin system and therefore very little volatility. |
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Pab
Legendary
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Activity: 1862
Merit: 1012
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November 22, 2015, 12:01:05 AM |
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I have heard by many very prominent sources that people are looking for way to enforce price stability on bitcoin. This would be a BIP that pegs the value of bitcoin to some commodity like oil or some stable currency like the USD, so that whenever the value of bitcoin goes up relative to what it is pegged to, more bitcoins are created to balance it out, thus stabilizing the price. The argument is that this will make bitcoin a viable unit of account, eliminate price volatility, and thus make bitcoin more usable, and encourage people to use it rather than to hoard it.
If 1 BTC = 1 USD in 2010, and 1 BTC = 500 USD in 2013, the proposed solution would be to "rebase" bitcoin, by creating inflation of bitcoin at x500, so 500 times more bitcoin are in circulation in 2013, and therefore 1 BTC still is equal to 1 USD, and the price of bitcoin is stable.
The problem I have with this is that, in the case were the Bitcoin supply is fixed like that of Gold, the end users, the holders of bitcoin, the common man, the poor, the middle class, received an increase of value of their bitcoin by 500x, because in three years there Bitcoin is now 500 times more valuable, and their purchasing power therefore has increased by that much.
On the other hand, by "rebasing" the supply, you transfer wealth and value from the end users, the holders of bitcoin, the common man, the poor and the middle class, directly into the hands of whoever gets the newly created bitcoin, via the tax of inflation. The bitcoin user then would have seen a 500x decrease in the value of their bitcoin in 3 years because their bitcoin would have been 500 times less valuable, and 500 times less purchasing power.
I view bitcoin as the "Gold Standard" of crypto currencies, so that all other crypto currencies are valued based on their value in Bitcoin. We need a "Gold STandard" of crypto currencies, and thus we need Bitcoin to remain scarce. It is this scarcity that makes bitcoin such a good store of value, just like the scarcity of gold makes it such a good store of value. To enable inflation in order to achieve price stability would come at the cost of Bitcoin's capabilities as a store of value.
The solution to the problem then is not to fundamentally change the Bitcoin protocol to allow for inflation and more than 21 million bitcoins, but rather to create an alt coin that is pegged to the price of Bitcoin in the same way as proposed, thus avoiding drastically altering the mission statement and vision of Satoshi for Bitcoin to mimic the qualities of Gold. The alt coin would produce more coins or reduce coins according to the price of Bitcoin, creating inflation and deflation to create price stability in that coin, which would be a unit of account because the resulting price stability, but not a very good store of value.
The limited supply, and fixed supply of bitcoin is fundamental to it's Store of Value property which serves as the cornerstone of all alt coins. all alt coins rest upon the value that is stored in Bitcoin. As soon as you remove the limit, and increase the supply, you compromise the store of Value property of bitcoin.
We can have price stability in an alt coin, and in fact, this need of price stability is a huge opportunity for someone looking to create a useful alt coin, simply peg the value to the price of bitcoin and inflate or deflate accordingly. But the cost of getting rid of the 21 million limit on bitcoin is far too much to justify going through it. The scarcity is a necessary part of being the "Gold Standard" of crypto currencies that Bitcoin is.
For that btcwill need to find his own value,that value will be represented by btc coins and priced in fiat money It will deflation and inflation but gap will be small,with his own value btc will be independent from fiat money |
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