bitcoin cannot replace currency in the world because price is not stable

[Netnox]

Does the exchange rate matter at all? Very few of the merchants are accepting Bitcoin directly. Most of them are accepting it through third party apps such as Coinbase and Bitpay. These third party apps immediately convert BTC to fiat currency and therefore the prices does not matter for the merchants. In the end, they are getting the payment in USD or EUR.

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[Lanatsa]

bitcoin cannot replace currency in the world because price is not stable.

currency should be more stable.

you may reply me. currency is not stable also but you should think  

USD currency price is up and down 1-2% in 1 month.

bitcoin price is up and down 20% in 1 month.

what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?

bitcoin can become stock but cannot become currency

I would definitely agreed on you with this matter dude, because right now it is very obvious that the powerful currency at the moment was  still Dollar of course, were all country by now are using it whether in public sectors or in online too.

Nothing can really beat up local fiat currency specially on USD knowing that its one of the most powerful currencies on the world and we know that bitcoin cant really replace fiat no matter what happen on its progress and as being said price is volatile and people dont really like have moving prices and the biggest issue of all is that bitcoin is a decentralized thing.

[CyberKuro]

Bitcoin is a digital currency, no matter what people say about it.
To become a National currency? maybe not at the moment, moreover compare to fiat currency such as dollar.
US Dollar has been around for centuries, bitcoin? Only 8 years. It's not fair to say it can not be when it just in the beginning of the development.
Give bitcoin 20 years, and let's see what it can achieve.

[Netnox]

Bitcoin is a digital currency, no matter what people say about it.
To become a National currency? maybe not at the moment, moreover compare to fiat currency such as dollar.
US Dollar has been around for centuries, bitcoin? Only 8 years. It's not fair to say it can not be when it just in the beginning of the development.
Give bitcoin 20 years, and let's see what it can achieve.

I don't think that age is a big barrier. What about the Euro? That currency is just 18 years old, and it is even more popular than certain currencies such as the Japanese Yen and the Chinese Yuan, which have been around for more than a hundred years.

[ReLieD]

Even if the prices become stable it would not be accepted as a currency of any country. No government will allow to do that and even noone would like to give up their currency from an online currency having no paper currency.

[flag39]

Fiat currencies came to existence because gold and silver, became difficult to store and move,for those who created wealth. But gold is still there to store value. Bitcoin is there to make storing value better. Bitcoin cannot be a currency for the same reasons gold can not be, and this is linked with one property they share,
 "scarcity" for gold(but one day we may find gold in outer space or with new technology we may be able to create gold in a lab) and
 "absolute scarcity" for bitcoin. Doesn't matter  how  our society develops there will always be only 21 mil btc. I think we should forget about using BTC for every day payments like a currency.  

[Welds1977]

it should become stable in far future. more get to know bitcoin , stable it becomes

[Prodigan786]

I do agree with your statement bitcoin value is highly volatile as far I remember from April 2017 to till today around 5x growth no currency or asset reached this much growth in 5 months it's more than any asset in the world.

[ilovefeetsmell]

Price being unstable is not at all an issue with bitcoin. Real users were much attracted towards it just because of the volatility. Bitcoin will be used longer and keep growing reach a larger market around the globe. Same will not help with the bitcoin going mainstream.

Bitcoin market will become larger because of its price unstable. The demand will go bigger while the supply still constant. It may replace the USD soon, nothing knows what might happen in the future so keep an eye on the bitcoin price for updated news about that.

It’s a reality that the past statistics of the bitcoins have proved that it provides volatility to its users causing them to trust this asset.

Moreover bitcoins have caught up with the international market standards and its price would rise up .bitcoin users could be declared lucky in this regard that their numbers of users are increasing on daily basis and the end result is that it has become the most expensive digital currency.

Bitcoin users will become larger because of popularity and dominating with the other coins.

[BitcoinGirl.Club]

One of the reasons of instability at the moment is there is a very some number of people using bitcoin and if an individual owns a majority of coins they are more likely to manipulate price and make it unstable but this will change in the future as market grows with more adoption of bitcoin which will also make bitcoin stable.

[dreamer81]

Of course bitcoin is not stable. The demand for bitcoins are clearly outphasing the supply, thus the price goes to the moon.

WHen the big guys (banks/hedgefunds/etc) wants to be exposed to bitcoin, you will see an explosion in price, aka, 100k per bitcoin.. and that is just the beginning.. the current price is very low if you ask me.

[cexylikepie]

I do agree with your statement bitcoin value is highly volatile as far I remember from April 2017 to till today around 5x growth no currency or asset reached this much growth in 5 months it's more than any asset in the world.

Indeed, that is reason Bitcoin has popular than with many people on the world and make them can't stop interested to Bitcoin. With the volatility and the value of Bitcoin on market, Bitcoin attractive new investor want invest to it soon.

[bitbob82]

Fiat currencies came to existence because gold and silver, became difficult to store and move,for those who created wealth. But gold is still there to store value. Bitcoin is there to make storing value better. Bitcoin cannot be a currency for the same reasons gold can not be, and this is linked with one property they share,
 "scarcity" for gold(but one day we may find gold in outer space or with new technology we may be able to create gold in a lab) and
 "absolute scarcity" for bitcoin. Doesn't matter  how  our society develops there will always be only 21 mil btc. I think we should forget about using BTC for every day payments like a currency.  

in fact in modern time the interest of the people is changing from silver and gold toward, online currencies, i think that in future this trend will increase more and more then then all the people will be using online currencies for shopping and they will also use it for trading and investment, therefore i think bitcoin trading is becoming more and more popular from time to time.

[FasTroy]

Of course bitcoin is not stable. The demand for bitcoins are clearly outphasing the supply, thus the price goes to the moon.

WHen the big guys (banks/hedgefunds/etc) wants to be exposed to bitcoin, you will see an explosion in price, aka, 100k per bitcoin.. and that is just the beginning.. the current price is very low if you ask me.

You are right, I think it's impossible to bitcoin to replace a currency in the world because of volatility of price, Everyday we can see a very high increase or decrease of price around 80-100$ or maybe low or more.
So, I don't think that will be a main currency in the world one day, bitcoin like that is better, I mean using it like we do know, and goverment can't have any hands in it.
As you said, bitcoin price will increase a lot in the future, It's just a beginning now.

[streazight]

bitcoin cannot replace currency in the world because price is not stable.

currency should be more stable.

you may reply me. currency is not stable also but you should think  

USD currency price is up and down 1-2% in 1 month.

bitcoin price is up and down 20% in 1 month.

what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?

bitcoin can become stock but cannot become currency

Fuck to the YES my man. Make this a sticky.


Despite all the bitcoin apologist on the board, this is the fatal flaw of bitcoin. The volatility, while cool if you are on the good side of it, is absolutely soul crushing of you are on the wrong side of the fence. You cant plan a future around something this volatile. Imagine if you had a utility bill for say, 2000 USD (thats a hell of a bill, I know, but bear with me for the sake of argument). You put away .5 btc to pay the bill, but come back a week later to find out that .5 is worth 1700 USD. Not only cant you pay the bill, you will need additional value to repair the loss. The same would go for a car, a house, and thing of value that takes time to accrue. Yes, its a general uptrend; but when it isnt, it can be enough to ruin a fortune (ask those that bought in at the first 1k ATH).

I am not an expert and you are definitely not a good listener. You seem to be so aggressive and upset about volatile nature of Bitcoins. If a person has put away 0.5 BTCs for the bill, I will recommend him to pay it at the very moment. It is good to clear your debts earlier.

However, if he is a sluggish for that and waits for a week, then I will advise him to be a little lazier for another week. By then, I bet the prices would have grown up to his expectations. Fingers crossed!

[8Habits]

Fiat currencies came to existence because gold and silver, became difficult to store and move,for those who created wealth. But gold is still there to store value. Bitcoin is there to make storing value better. Bitcoin cannot be a currency for the same reasons gold can not be, and this is linked with one property they share,
 "scarcity" for gold(but one day we may find gold in outer space or with new technology we may be able to create gold in a lab) and
 "absolute scarcity" for bitcoin. Doesn't matter  how  our society develops there will always be only 21 mil btc. I think we should forget about using BTC for every day payments like a currency.  

in fact in modern time the interest of the people is changing from silver and gold toward, online currencies, i think that in future this trend will increase more and more then then all the people will be using online currencies for shopping and they will also use it for trading and investment, therefore i think bitcoin trading is becoming more and more popular from time to time.

Trading with bitcoin is really cool because we can really start trading anytime we want comparing to usual trading in stock market where there are plenty of requirements to have before you can finally make your first trade. However, the good thing with crypto trading is that it is so volatile and there is always a room to profit even in just few minutes.

[Carlsen]

I think bitcoin can not be both, a currency and an investment.
A currency is a medium of exchange you use every day because it has every day more or less the same value.
The investment you keep because you are expecting to have profit from it.
Giving away an investment is always hareder than giving away a currency.
So if you just look at it from a psychological point of view, an investment and a currency can't be the same.

[StonedWolf]

Really appreciate your justification, it really seems suitable with reason widely known but rarely justified.

In the meantime, i am always thinking if bitcoin can not replace currency in the world, and also it cannot stop growing every day, what would be the future of bitcoin ? how will his story end ?

[aretebit]

It is very inestable because market capitalization is relatively very small. After becoming mainstream worldwide currency it will fluctuate very little.

[bohr]

bitcoin cannot replace currency in the world because price is not stable.

currency should be more stable.

you may reply me. currency is not stable also but you should think  

USD currency price is up and down 1-2% in 1 month.

bitcoin price is up and down 20% in 1 month.

what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?

bitcoin can become stock but cannot become currency

Fuck to the YES my man. Make this a sticky.


Despite all the bitcoin apologist on the board, this is the fatal flaw of bitcoin. The volatility, while cool if you are on the good side of it, is absolutely soul crushing of you are on the wrong side of the fence. You cant plan a future around something this volatile. Imagine if you had a utility bill for say, 2000 USD (thats a hell of a bill, I know, but bear with me for the sake of argument). You put away .5 btc to pay the bill, but come back a week later to find out that .5 is worth 1700 USD. Not only cant you pay the bill, you will need additional value to repair the loss. The same would go for a car, a house, and thing of value that takes time to accrue. Yes, its a general uptrend; but when it isnt, it can be enough to ruin a fortune (ask those that bought in at the first 1k ATH).

The person in your example is violating the first rule of investing, only invest what you can afford to lose, if a person is so dumb to invest money that he needs for something that important, and then what you describe happens the only entity that is to blame is himself, if you are going to use bitcoin as a currency buy as much bitcoin as you need and then use it.