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

[777Bitcoin]

This is always something people in the bitcoin world will discuss. I see this as a good thing. If it were stable we would not be able to profit off it like we do. that would not be fun now would it Part of the fun is that it is volatile. Maybe one day we will see an altcoin backed by something in such a way that it rarely moves. Perhaps a coin backing up gold? Or maybe in the future this is just how currencies are going to be.

Agree to you on this, we keep on denying that the factual reality is we're earning from this unstable price of bitcoin. We only keep complaining about this for now and may regret afterwards. This market movement corresponds of how  the new users, new investors, weak hands and even holders reacts that can affect bitcoin on every action. It like a body of water no one will surf when there is no wave. Bitcoin is not as boring investments than any other.

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[Allan Ramanda]

although bitcoin is growing very fast, but bitcoin will not be the world's currency, because for now the dollar is the most recognized currency in the world. if bitcoin becomes the world's currency, of course it will be the controversy of all countries.

[swscowods]

The reason that it can not replace the real money is because it is just a secret. It does not belong to any country and can not be owned by any of them as it is being used by different countries globally through the internet. Bitcoins are limited and demand speculation, Bitcoin will be unstable and this is what prevents mass adoption. And even if bitcoin is adopted globally, no modifications can be made to the bitcoin. The government will not allow bitcoin to replace natural currencies for the most well known reasons. I believe bitcoin and fait coins can be coexistence.
Well, at the moment it can not replace the world currency but we never know what the future holds.

Make total sense. Fiat money is controlled and regulated by the country it represents. Hence, unless there will be no longer a government, that is the time that fiat money may be replaced with bitcoin or any other altcoins. But that is really far from truth.. The government is very established and it won't allow itself to be thrown away by the mob.

It is possible that bitcoin replaces the cash currency but it will take a lot of time there are still many regions in world who don’t know about it more awareness is needed and this will happen in only one way that the prices remain still or they go up there is no recommendation for the dump to do so. As the people will aware about this they will accept this.

[laserguy]

It may not be bitcoin but I am sure in future money will be replaced by cryptocoins since everything is becoming virtual.

[millgates]

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

Yes,  bitcoin still can not replace usd because the price is not stable yet,  but it is normal because it is the properties of the new currency with relatively has low liquidity. But if bitcoin get mass adoption,  the price of bitcoin will more stable.  But we the current condition is not negative because trader can take a lot of profit because of the volatility of bitcoin.  Anyway the most of bitcoin users are trader. So we do not need to worry. Bitcoin is a currency.

[An0nyMoose]

Bitcoin can, and will, replace the world's reserve currency. Yes it was unstable early on but it's actually less volatile than any other currency with an volatility rate of 4%. This is because the network is getting more secure with more volume.

[lucas18]

yeah, that's a good point. it is really difficult to replace currency by Bitcoin because of its price instability. when you have to pay your bill with Bitcoin and after that, you will see that your bitcoin price increases then you must be repentant for you Bitcoin payment. it can be a different story as well. so this is really tough to match Bitcoin with a conventional currency...

[Razmirraz]

Agree. Bitcoin never replace conventional currency. Because, existence digital currency cann't be applied to global financial system, there are still many things that need to be addressed to realize bitcoin as a substitute for the money we use today.

[bohr]

The reason that it can not replace the real money is because it is just a secret. It does not belong to any country and can not be owned by any of them as it is being used by different countries globally through the internet. Bitcoins are limited and demand speculation, Bitcoin will be unstable and this is what prevents mass adoption. And even if bitcoin is adopted globally, no modifications can be made to the bitcoin. The government will not allow bitcoin to replace natural currencies for the most well known reasons. I believe bitcoin and fait coins can be coexistence.
Well, at the moment it can not replace the world currency but we never know what the future holds.

The sad truth for governments is they may not have too much of a choice, as an example the Zimbabwean dollar went through hyperinflation and the only measure the central bank of that country could take was to accept foreign currencies as legal currency in their country, now Zimbabwe does not have his own currency and they say that it is only going to comeback when the fundamentals of the economy are fine, but this is the issue, do you think the people are going to trust in their government again, of course not, if they try to impose their new currency and forbid dollars and the rest of foreign currencies people are going to fight back and keep using those currencies instead, and that new attempt to reintroduce their own national currency is going to fail, and the same scenario is going to happen with bitcoin.

[jannadream]

I agree, if bitcoin can not replace a country's regular currency, because of its unstable. Until now I'm still amazed, what causes these bitcoin currencies, can the value rise significantly? But whatever it is, let's enjoy this opportunity.

[bitbunnny]

The fact that Bitcoin is unstable is just one of the reasons but also the number of Bitcoins is limitted, it's virtual and it's not centralized. These are the reasons that Bitcoin will not replace regular fiat currencies but I think Bitcoin wasn't even created with that purpose but to be the alternative to fiat currencies what already has become.

[pitiflin]

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

Lame crap man to be honest. I would term it volatile instead of unstable,first. USD is not the world currency,its the currency for the US nation.People compare everything with US$ because America is considered to be one of the strongest and powerful nation in most aspects.
Whereas bitcoin is not specifically developed for a particular nation or something,its developed for transactions taking place worldwide without any intermediate. Know the difference first.
And before you compare with bitcoin and USD on the basis of volatility and stability,look at the price of bitcoin and look at the price of USD.

[totaleclipseofthebank]

we do not need bitcoin to become a currency right now. Bitcoin becoming gold is enough for me. Since the price of bitcoin is very high, we can earn a lot of things from bitcoin so that being a currency will make bitcoin meaningless

[nejibens]

Bitcoin is known by its price's volatility, thats normal. However the people still use it online to make teir trades, buying and selling online without any issue, despite the price unstability
So it can be used offline as well without any issue normally

[lazaruseffect11]

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

It is true that the price of the bitcoin is not stable. It can go higher or even lower in just a few moments. Thats why it cannot use as the world currency because it will be hard for us to use it if its value is continuously changing. But what if someday, the price of bitcoin will be stable then it can use as a currency in some places or even all over the world.

[exeljeksen]

the one thing why bitcoin cannot change the fiat currenncy is transactions why you acceft payments if you have no bitcoins account? the fees ? And its required internet cellphone. what if you have a small store and you cannot afford to pay monthly bills for internet.  There are so many things to improve before BITCOINS can be replace the world currencies. We need more high technologies
more many years before Altcurrency can be legalized to whole world.

[craZyLovE0916]

The more money that flows into Bitcoin, the higher the market cap. The higher the market cap, the more stable the price will be. Simple economics for the win.

[centralbanksequalsbombs]

Good point - why is fiat so unstable?


https://macromon.wordpress.com/2017/04/26/the-chart-that-floats-overvaluation/

CAN SOMEONE PLEASE STOP BLOWING BUBBLES OF EXTRA FIAT MONEY AROUND THE WORLD? (PLEASE NO MORE USD, EUROS, JAPANESE YENS, INDIAN RUPEES, CHINESE YUAN, MEXICAN PESOS - PLEASE STOP INFLATING AND MAKING BITCOIN SO VALUABLE)...stop this pumping

Bitcoin has freed, continuing to free, and tomorrow will still free many people globally from the centrally controlled debt-based fiat system that confiscates your wealth with inflation and tax. Bitcoin is a TRUE savings vehicle. Buying Real Estate, Hospital healthcare, Global traveling, College Education gets cheaper as you hold Bitcoin.

Just a reminder to newbies:
Bitcoin CANNOT be controlled.

Bitcoin cannot be made legal. Governments may still attempt to do so.

Bitcoin cannot be made illegal. Governments may still attempt to do so.

Central banks already control and manipulate Stocks, Real Estate, Gold, Interest Rates.

Bitcoin reached escape velocity 4-years ago in 2013 which means it cannot be stopped - cannot make it illegal or legal - governments/banks do not matter.

On the opposite end of the spectrum the global fiat (US Dollars, Indian Rupees, Chinese Yuan, etc) bubble system broke a couple of decades ago.

Fiat around the world is forced to inflate issuance as its heavily infested, burdened and broken with:
-regulatory burden on fiat banks & system (incredibly costly)
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-insurance fraud
-false claims and insurance loss-events
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
-using enforcement labor to freeze accounts and assets and take away your money
-costs of auditors and budgetors and accountants to governments and businesses

Bitcoin, systemically, is free from these burdens.

Bitcoin is GLOBALLY held and sought after by people in almost every country - see global trade data by country or see this list:
https://bitcointalk.org/index.php?topic=1853019.0

[freebutcaged]

Let Bitcoin scale enough to handle 20 transactions per second mate, you can't replace any currency if you are not a currency, people often call something

Universal and accessible with abundant supply a currency, Bitcoin is neither and even now people running the show saying that, they don't want it to be

A currency in a traditional way. they want it to have these fluctuations because without them no money is earned.

[Mister1k]

Let Bitcoin scale enough to handle 20 transactions per second mate, you can't replace any currency if you are not a currency, people often call something

Universal and accessible with abundant supply a currency, Bitcoin is neither and even now people running the show saying that, they don't want it to be

A currency in a traditional way. they want it to have these fluctuations because without them no money is earned.

That's how future generation will adoption the bitcoin and currency. You will see the currency revolution with in 10 years and then all the country choose the each coin for them. Richest coin bitcoin will goes to the country which is controlling the world. That is how it will defines in future. You just can bitcoin cannot become like current currencies. Even fluctuations also will settled in one place soon.