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Author Topic: Problem Bitcoin volatile Nature  (Read 1321 times)
bits19
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May 12, 2017, 04:04:31 AM
 #1

As one of the best part or advantage of this cryptocurrency is we can transfer the money from one place to another place within a minute or in some seconds.

My question is, as bitcoin has highly volatile nature, after sending the money to my friend if it suddenly goes down then its a big problem in this case my does not get the money that he needed, and I have to send bitcoin again.

how to save yourself with this kind of situation. 
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May 12, 2017, 04:11:31 AM
 #2

Yes price of bitcoin is volatile but usually the change in price within few minutes (time needed to get confirmation on transaction) is not much than 10$-20$ per bitcoin so this may not have significant effect on the amount receiver will receive in terms of fiat if you are not sending large amount of money.

Many merchants use bitpay like service to remain in safe side, they can select between receiving bitcoin in terms of fiat or bitcoin. And if they select to receive bitcoin in fiat, bitpay automatically exchange any bitcoin received by those merchant to fiat using market rate at the time of transaction.

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May 12, 2017, 04:36:13 AM
 #3

As one of the best part or advantage of this cryptocurrency is we can transfer the money from one place to another place within a minute or in some seconds.

My question is, as bitcoin has highly volatile nature, after sending the money to my friend if it suddenly goes down then its a big problem in this case my does not get the money that he needed, and I have to send bitcoin again.

how to save yourself with this kind of situation. 
Who told you that you could send Bitcoin in seconds? they were trolling you, however if by chance you broadcast a transaction 1 minute before a miner finds a block and if they include your tx yes you could call that fast but average time is between 10 up to 30 minutes depending on fee can get much longer.

If you could explain more about going down it'd be great, what do you think will suddenly go down?

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May 12, 2017, 04:39:56 AM
 #4

Bitcoin maybe volatile but  I think it ios the demand that dictate the price of it. There maybe some whales doing something tin the background, but now when more countries joining the ranks of supporting it and accepting it as currency, more demand will be needed and it will propel the price of bitcoin to a higher value. With more demand grows, the higher the bitcoin may become.

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May 12, 2017, 04:41:07 AM
 #5

As one of the best part or advantage of this cryptocurrency is we can transfer the money from one place to another place within a minute or in some seconds.

My question is, as bitcoin has highly volatile nature, after sending the money to my friend if it suddenly goes down then its a big problem in this case my does not get the money that he needed, and I have to send bitcoin again.

how to save yourself with this kind of situation. 

Simple, make sure to send money that is a bit higher with his/her desired amount so that. Even if the price decreases, the money that the receiver needed will be reached. Or, another method you can do is, convert the Bitcoin first into fiat. Then send the money to the receiver. In this case, you can assure that the money you are sending will be sent constantly and will not be affected by the fluctuation of the price of Bitcoin.

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May 12, 2017, 04:44:30 AM
 #6

As one of the best part or advantage of this cryptocurrency is we can transfer the money from one place to another place within a minute or in some seconds.

My question is, as bitcoin has highly volatile nature, after sending the money to my friend if it suddenly goes down then its a big problem in this case my does not get the money that he needed, and I have to send bitcoin again.

how to save yourself with this kind of situation. 
You can't do anything about that. That's the nature of bitcoin. For me, its only good for investment rather than money transfer. I buy bitcoin only for long term investment. That's the problem of every cryptocurrency. The price depends on what's people's demands. This will determine its price. But dont worry. Bitcoin has the ability to bounce back from a crash. But it takes time.

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May 12, 2017, 04:52:10 AM
 #7

Nothing can be done during such situations. Bitcoin price moves on its own based on the calculated adoption and the circulation happening within the entire cryptocurrency network. So for such emergency or requirement of fixed amount do try other means of cash transfer. Volatility is always found along with bitcoin and it's one of the attractive feature it has got.

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May 12, 2017, 05:03:51 AM
 #8

As one of the best part or advantage of this cryptocurrency is we can transfer the money from one place to another place within a minute or in some seconds.

My question is, as bitcoin has highly volatile nature, after sending the money to my friend if it suddenly goes down then its a big problem in this case my does not get the money that he needed, and I have to send bitcoin again.

how to save yourself with this kind of situation. 
If you want to avoid such situation,then you have to send your bitcoins with high transaction fee so that your transaction would be confirmed quickly.With higher transaction fee,your transaction would be confirmed within 30 minutes.

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May 12, 2017, 05:15:10 AM
 #9

You can convert it to your fiat currency first so when the price move the money that you have send wont have a change of value
there are many online wallet provider that supports conversion BTC to fiat currency.
Im surprised that you can send and receive bitcoins in just minutes even there is an bitcoin scaling problem.

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May 12, 2017, 05:22:08 AM
 #10

if you are sending coin that will be exchanged with fiat it's better if you send them directly to an exchange and don't waste time sending to his local wallet

still if the price will be down when you are still waiting for the first confirmation, you can't do much, that will always be a problem with bitcoin

even when bitcoin will be fully adoption, swings will occur, it's impossible for an asset like bitcoin to have perfect stability since it's not issue by a central autorithy
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May 12, 2017, 05:24:49 AM
 #11

bitcoin price volatility is something that everyone is well aware of. this means you need to come up with some agreement before sending the amount, that goes for all the payments for example when you buy something from internet and they give you a bitcoin amount to pay.

and remember that good news is that price never stays this volatile forever, it will become more stable soon and these highly volatile periods last a short while.

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May 12, 2017, 05:29:57 AM
 #12

Then send it from bitcoin to dollar or you could do it fast before it goes to a big change.
If you have a different currency that USD look for an exchange that best fits your money.
That way you wont feel any changes as long as it was already sent it wont even budge a little.
Or you could just provide a cash if he is really in a hurry to get it.

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May 12, 2017, 05:30:28 AM
 #13

how to save yourself with this kind of situation. 
I'd ask you to stop bitcoining but since you're curious,that's how bitcoin works.Surprise ? The fluctuating price may benefit both the parties at different time intervals so at most of the times it's an mutual understanding between the traders.

If you want to avoid such situation,then you have to send your bitcoins with high transaction fee so that your transaction would be confirmed quickly.With higher transaction fee,your transaction would be confirmed within 30 minutes.
Or less.And this seems like a feasible solution for the op except his next problem would be "Why do I have to pay such high fees ?This isn't what bitcoin is suppose to do".

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davis196
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May 12, 2017, 05:32:26 AM
 #14

As one of the best part or advantage of this cryptocurrency is we can transfer the money from one place to another place within a minute or in some seconds.

My question is, as bitcoin has highly volatile nature, after sending the money to my friend if it suddenly goes down then its a big problem in this case my does not get the money that he needed, and I have to send bitcoin again.

how to save yourself with this kind of situation. 

If you send 10 USD to your friend and the btc price does down with 10% now,tomorrow it can increase with 25%
so there`s no problem.
Bitcoin isn`t as volatile as it was back in time.
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May 12, 2017, 05:34:28 AM
 #15

That's the risk of using bitcoin and if you don't want that risk, you should send fiat through bank/payment service or send extra amount of bitcoin instead.

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May 12, 2017, 07:12:53 AM
 #16

As one of the best part or advantage of this cryptocurrency is we can transfer the money from one place to another place within a minute or in some seconds.

My question is, as bitcoin has highly volatile nature, after sending the money to my friend if it suddenly goes down then its a big problem in this case my does not get the money that he needed, and I have to send bitcoin again.

how to save yourself with this kind of situation. 

I'm sorry to informed you but volatility is part of bitcoin ecosystem. But the price is bitcoin is more stable that before. Maybe you can try exchanges that converted bitcoin to your local currency so that the receiver will get the money as expected. But you also have to remember that if you want to get confirmation faster, you should increase the transaction fee so that your friend can receive the bitcoin in a matter of minutes. Goodluck to you.
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May 12, 2017, 07:22:49 AM
 #17



As one of the best part or advantage of this cryptocurrency is we can transfer the money from one place to another place within a minute or in some seconds.

My question is, as bitcoin has highly volatile nature, after sending the money to my friend if it suddenly goes down then its a big problem in this case my does not get the money that he needed, and I have to send bitcoin again.

how to save yourself with this kind of situation. 

Will he pay you back when Bitcoin rises, while he is hodling them?

My ignore list here: https://bitcointalk.org/index.php?topic=1652334.0 +++ GPG Public key FFBD756C24B54962E6A772EA1C680D74DB714D40 +++ http://pgp.mit.edu/pks/lookup?op=get&search=0x1C680D74DB714D40
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May 12, 2017, 07:28:25 AM
 #18

As one of the best part or advantage of this cryptocurrency is we can transfer the money from one place to another place within a minute or in some seconds.

My question is, as bitcoin has highly volatile nature, after sending the money to my friend if it suddenly goes down then its a big problem in this case my does not get the money that he needed, and I have to send bitcoin again.

how to save yourself with this kind of situation. 
To solve that problem i think you should talk and get an agreement that if you will send some bitcoin then your rates will be on bitcoin and not based on fiat because if you will always depend on the fiat rates then it will be a loss for you but if you will stick to bitcoin rate then you can save time and money at the same time.

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May 12, 2017, 07:34:35 AM
 #19

Bitcoin in itself is not volatile, its the fiat equivalent that changes everytime. If you sent, let us say .05 bitcoin to your friend, he will receive it as it is. It is when your friend converts that bitcoin to fiat that makes the difference whether the price has increased or decreased over that period of time.


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May 12, 2017, 07:44:10 AM
 #20

Yes, that's the main issue for the governments to recognise it. Raghuram Rajan, former governor of central bank of India has mentioned that we will have such currencies in the future but the price volatility is what makes it less effective when it comes to the storage of value.

There are some advantages and disadvantages of the bitcoin but I find it better than current fiat system in terms of a transaction of the value.

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