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

[rolls89]

Bitcoin cannot replace currency for sure.Bank's which regulate economy are for sure gonna stay here.Plus the deregulation on Bitcoin won't allow it to replace flat currency

[1715010896]

1715010896

[daniweb]

Bitcoin is not yet a globally accepted currency because some governments are afraid of it but it's decentralised. It's secure and cannot be stolen so its value is very high and in future it will be something very very strong

[Lupulei]

Now that is totally wrong. Price stability is not the obstacle for replacing fiats.
Someone made a system with fiats long time ago and we all think now that this is the one possible model.
Again that's wrong.
Should cars always use gasoline? Why not electricity?

[PandoraBounties]

This is a self evident statement which most of bitcoin-believers cannot really understand. There are days when the prices are swinging 30% - this is NOT the symptom of a successful currency. I see no solution to this problem.

[rampage101]

The author of this topic is not right. The price of bitcoin will stabilize when it reaches the limits of its value. This should happen only after 2-3 years, not earlier.

[senin]

In principle, yes, one should agree with this. Bitcoin can not become a universally recognized currency of the world if it maintains the same level of volatility. This, in fact, is one of its main obstacles to its recognition by states and its free circulation around the world. Now the states are wary of bitcoin because of its high volatility and the ability to inflate it as a financial bubble.

[lfc_san]

I agree with this. Bitcoin cannot replace existing currency at this time. I think the reason is uncontrolled not about stability. All currencies are also changing price everyday but the government can control the change and this can not be done in bitcoin.

[yana0901]

The truth is that Bitcoin is fickle, it falls, it increases, so it can not be the official currency. Once there is a certain amount of bitcoin then it is possible to officially implement

[Magic Sarap]

The truth is that Bitcoin is fickle, it falls, it increases, so it can not be the official currency. Once there is a certain amount of bitcoin then it is possible to officially implement

I totally agree with your point. The instability of the bitcoin will not make itself as an official currency of a country. Bitcoin can really get a high value but on the otherside it can also hit a lower value.

[futuristic18]

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

To be a worldwide currency, Bitcoin needs time. Its on a growth path but not accepted as legal tender so far in many countries. First it need acceptance all over then only one can think about replacing USD.

[ChConcept]

I agree that Bitcoin cannot replace the world's currencies because it is decentralized. Currencies are controlled by government which is why Bitcoin is not here to replace our world's currency, I think they can just co exist and let the people decide on which one to use.

[money1122]

if bitcoin replace than we see next bitcoin in shape of Eth bro i think best time to investment in Eth 

[jsscswan]

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

Bitcoin is not suitable for currency because of the high fluctuation, bitcoin is only suitable for a person who wants peer to peer payments, decentralized. Nowadays bitcoin is best suited to be a long-term digital asset, and currently can not replace the world currency because of the very unstable price level.

[diwataluna]

You have to wonder why the price is so volatile. Banks and firms are majorly playing with bitcoin too. That is part of young stage of this currency. As updates are made and mass adoption will be easy with apps, the stability will come.

[baydewant96]

I strongly agree with the title of the topic that bitcoin will not replace the currency of a country, because the currency of a country has its own pride for the country because as a sign that the country has its own currency, besides the bitcoin whose price is unstable also can not replace the eyes house allowance. Unfortunately the legalization factor also affects bitcoin, as in my country that is still not legalkan so it will not be possible bitcoin will replace the currency as a tool to transact in the purchase of goods or services

[Klestar]

For now yes, unfortunately, the high volatility rate of bitcoin hinders it from its purpose of being a digital currency. however, it found its home to the investment world. and I think bitcoin could stay as it is for a decade or less. but by then people should start coming up of ways to be able to banish bitcoin's high volatility rate.

[Kahoy01]

Sad but true. Bitcoin couldn't be a currency and is stuck to being an asset for investment mainly because its value changes almost instantaneously. The high volatility of bitcoin doesn't only hurt bitcoin's chance to becoming a currency, it also hurts the investors especially when there is a huge decrease in the value of bitcoin.

[fredemar12]

I completely agree. Maybe someday it will happen, but definitely not in the near future. Now this is an instrument and it's too early to talk about anything else.

[virendarnagpal]

Volatility in prices of bitcoin may stop someone using it as currency but prices of fiat currency also decreases with the increase in inflation so prices of fiat are also not stable.  Bitcoin has certain limitations too where we are unable to use it as fiat currency.  Majority of the population is not aware or it's usage or even may have not heard it or are deprived of using it because of lack of infrastructure.  So if we wish to use it as currency we will have to do all efforts to popularise it among masses specially in third world countries and developing countries.  When it is widely accepted people will definitely start using it as currency.  
In some  cases it is better to use bitcoin as currency instead of fiat.  Suppose I being from India desire to have a tour to Indonesia I have two options; first Convert Indian Rupee to US$ because Indonesian Rupiah is not easily available in my country and then on my arrival to Indonesia then convert US$ to Indonesian currency.  I have to pay exchange / fees twice for single visit.  In the same way at the end of my tour I will desire to convert Indonesian currency to Indian currency so I will have to adopt the same route i.e. first convert Indonesian currency to US $ then on my arrival back to India US $ to Indian rupee again paying double fees.  But if I use bitcoin and if it is accepted by the tour operators then I will have to pay fees just ones for the exact amount required as cost of the tour + other payments required to be made during my tour for petty expenses and in this way I will have to just pay commission @ single time  only.  So this is the surplus point with the bitcoin.
If we talk about the regulations; fiat currency is legally acceptable within the boundaries of the country of which the fiat currency belongs to.  Bitcoin is internationally accepted except very few exceptions.
Bitcoin is not just currency ; it is store of value too i.e. investment too.  Due to volatility in prices though it's price may move either ways but it is not true with fiat currency.  Inflation is truth of world economy and as a result the value of the fiat currency goes downwards with the passage of time.  It may also be called the increase in prices of commodities with the passage of time but it is still true that purchasing power of fiat has decreased and  the world has never experienced opposite to it i.e. the value of currency going upwards with the passage of time.  So if we wish to use bitcoin as currency; it will have lesser chances of loss of value as compared to fiat because of value of fiat going downwards due to inflation though the value of bitcoin may increase more than the cost of commodities increase and as a result owner gaining due to this factor.  
So both fiat and bitcoin are having their own merits / demerits.  Somewhere fiat will be better option in current scenerio but somewhere else bitcoin will definitely be better option.  Fiat is just currency; but bitcoin is investment too.

[Aufar]

Bitcoin will not change the currency of a country, because the currency of a country has its own pride for the country because as a sign that the country has its own currency,

Unstable Bitcoin prices also can not replace the livelihood allowance at home. Unfortunately the legalization factor also affects Bitcoin,

It is not possible Bitcoin will replace the currency as a tool to transact in the purchase of goods or services, such as in my country that is still not in the legality.

Now the state is wary of Bitcoin because of its high volatility and the ability to inflate as a financial bubble.