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ASHLIUSZ
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August 14, 2017, 02:27:36 PM |
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The problem is that until bitcoin stabilises it will be hard to use it as a proper currency. People won't want to spend bitcoin if there is a chance it is going to dramatically increase in a 24 hour period however with that also comes the chance of a massive crash. Investment wise it is the new hot product.
Price volatility is a common factor with bitcoin. Slowly the stability gain is happening as more users and markets and stores have started to accept bitcoin. This makes people to start using of bitcoin in the large scale and this serves to be an alternative source for the traditional fiat. |
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bitcampaign
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Activity: 1806
Merit: 268
Vave.com - Crypto Casino
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August 14, 2017, 02:51:30 PM |
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It's true Bitcoin can not change the world currency because bitcoin is so unstable from bitcoin prices so I think bitcoin is a global currency that you can use as the other side for the future as long-term investments if you want it so bitcoin is not perfect. Replace the world currency as an acceptable official payment instrument worldwide. Bitcoin is a new technology for the future. maybe
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bohr
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August 14, 2017, 10:05:58 PM |
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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.
Well it is an issue in the sense of acceptance for services people need to rely on. The unstable price is not an issue in the sense that the people who are into bitcoin now want to (A) change the world with the philosophy that bitcoin represents or (B) get rich and/or lambo's. Think the people you mean are of group B  I do not see why the instability of the price is an issue when in the long term bitcoin goes up, if the store owner gets bitcoin for his product and then the price goes down the only thing he has to do now is to hold for some time until he gets back his money, in the other hand if he is lucky he may get a price increase in which case not only he will get the price of the product sold but even more money in return. |
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PacePay
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August 14, 2017, 11:08:44 PM |
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Bitcoin is improving and at current stage it is very young and with the passage of time it will become more and more stable. It will take time but in future Bitcoins will compete the currency and people will prefer to use Bitcoins.
Yeah that’s the reality they will never be able to realize who hate bitcoin. This is the best source of earning for me. No other monetary system can reach its level. It is damn too high. At current time it is such a huge network and is still building. Many more is yet to come. It will not only take over all currencies but also no other currency will able to compete it. |
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bohr
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August 18, 2017, 05:25:43 PM |
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Even if it were stable no government would accept to use a cryptocurrency as it's main currency .
No establishment or government will be okay with not knowing from where it's money is coming from or going through , plus the instability of it's value .
Even though it is phasing a huge bump these days , a correction is a must , so people's lives will be like Wallstreet movies ! going from poor to rich or vice-versa in no time .
Bitcoin instability is caused by its low size compared to the rest of the economy, once bitcoin gets a bigger market cap and adoption the movements are going to become a lot smaller since it is going to be a lot more difficult to manipulate the price, also that is not the reason bitcoin is not going to be accepted by governments they want control over you and more importantly your money and bitcoin runs contrary to that goal. |
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bravehearth0319
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August 19, 2017, 03:58:34 AM |
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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'm a bitcoin fanatic, honestly I will agreed on with what you had mentioned above. It is true that bitcoin is not in that stage yet to become the strongest currency at the present time now. Still Dollar is the number one currrency so far. It maybe miles away before it happen that bitcoin will surpass dollar. |
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yadi cihuy
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Activity: 112
Merit: 10
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August 19, 2017, 05:11:21 AM |
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Bitcoin is more than just a currency. Although bitcoin can not replace the fiat currency. But bitcoin can be an alternative to every transaction like fiat money do. Bitcoin transactions are easier than fiat money .. because the transaction of bitcoin is done peer to peer .. not only that .. of the fluctuating bktcoin's price. Amsa can get a great profit. With an easy way .. buy when harha down and sell at the time the price goes up .. it is very simple and profitable.
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Stingray1970
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Activity: 126
Merit: 10
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August 19, 2017, 10:21:49 AM |
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Lots of people do not get how the economy and money in the real world works.
As far as the economy goes, nothing exists without labour and energie. And those two in fact are one and the same.
To put this into an example, if you do not have labour + energy, you cannot built machines to excavate a raw material, you cannot process that raw material. Without labour and energy, you cannot plant/grow wheat that you use to make bread and so on.
Money, whether it is fiat or something else, only serves as an exchange medium for that labour and energy and allows the person that spent the labour, to exchange it for something that he can trade later for someone elses labour.
For example, if the worker in a steel mill works to produce steel, he earns money per hour of labour, and he is able to spend that money later to exchange it with the bakery for a loaf of bread. The baker spends it on something else and so on.
In effect in the real world, money is a unit of value per hour of labour and per unit of energy spent.
Bitcoin doesn't have that relationship.
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bohr
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August 23, 2017, 10:48:51 PM |
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Bitcoin is improving and at current stage it is very young and with the passage of time it will become more and more stable. It will take time but in future Bitcoins will compete the currency and people will prefer to use Bitcoins.
Yeah that’s the reality they will never be able to realize who hate bitcoin. This is the best source of earning for me. No other monetary system can reach its level. It is damn too high. At current time it is such a huge network and is still building. Many more is yet to come. It will not only take over all currencies but also no other currency will able to compete it. People that were aware of the existence of bitcoin and choose not to invest because they let themselves being influenced by the media and the lies they spread are going to be the ones that will regret the most not investing in bitcoin, we see many threads of people lamenting not investing on bitcoin when it was very cheap but at least we still have the opportunity to get bitcoin relatively cheap, when it comes to the point where you can buy a house with bitcoin then there will be nothing to do for those that did not invested in bitcoin. |
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gajebo
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August 24, 2017, 12:03:08 AM |
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Bitcoin is improving and at current stage it is very young and with the passage of time it will become more and more stable. It will take time but in future Bitcoins will compete the currency and people will prefer to use Bitcoins.
Yeah that’s the reality they will never be able to realize who hate bitcoin. This is the best source of earning for me. No other monetary system can reach its level. It is damn too high. At current time it is such a huge network and is still building. Many more is yet to come. It will not only take over all currencies but also no other currency will able to compete it. People that were aware of the existence of bitcoin and choose not to invest because they let themselves being influenced by the media and the lies they spread are going to be the ones that will regret the most not investing in bitcoin, we see many threads of people lamenting not investing on bitcoin when it was very cheap but at least we still have the opportunity to get bitcoin relatively cheap, when it comes to the point where you can buy a house with bitcoin then there will be nothing to do for those that did not invested in bitcoin. Yes I am one of them who is very sorry not to invest bitcoin. That time the price is still very cheap and i have 1btw and what happened now enough surprise me. |
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leonix007
Sr. Member
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Activity: 1008
Merit: 297
Grow with community
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August 24, 2017, 01:28:41 AM |
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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.
Well it is an issue in the sense of acceptance for services people need to rely on. The unstable price is not an issue in the sense that the people who are into bitcoin now want to (A) change the world with the philosophy that bitcoin represents or (B) get rich and/or lambo's. Think the people you mean are of group B I do not see why the instability of the price is an issue when in the long term bitcoin goes up, if the store owner gets bitcoin for his product and then the price goes down the only thing he has to do now is to hold for some time until he gets back his money, in the other hand if he is lucky he may get a price increase in which case not only he will get the price of the product sold but even more money in return. no need to hold, as the store owner can directly convert BTC into fiat, imho, fluctuations is not an issue in a store as it could adapt pricing automatically, what I see is that "Hesitation exist, due to lack of knowledge how blockchain/BTC really works. |
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Similificator
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August 24, 2017, 01:43:09 AM |
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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
While i agree on you to some point, I still think that it is way too early to predict one thing or the other when it comes to bitcoins, Let alone comparing it to fiat. And also, i just can't freaking understand why people are so obsessed in making butcoin replace fiat. I mean, it would be nice if bitcoins would be accepted by the majority but damn! Why turn it into fiat and destroy all the benefits we are having today having bitcoin as it is?! i still want btc to stay as it is. Not portraying the cons of bitcoins but the way it is built and its pros. Why think of using one and throwing one away when we can use both?? Just doesn't make sense. |
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Hamstead
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August 24, 2017, 01:53:18 AM |
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It's true Bitcoin can not change the world currency because bitcoin is so unstable from bitcoin prices so I think bitcoin is a global currency that you can use as the other side for the future as long-term investments if you want it so bitcoin is not perfect. Replace the world currency as an acceptable official payment instrument worldwide. Bitcoin is a new technology for the future. maybe
Yes, I agree with you mate that because of unstable price bitcoin couldn't replace world currency.Not only that, it's also because Its not already accepted by some countries especially to those who have unstable internet connections. And also the government itself they don't have interest on it. We can say bitcoin couldn't change but may consider as global currency for investment. |
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bohr
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August 27, 2017, 03:00:04 AM |
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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'm a bitcoin fanatic, honestly I will agreed on with what you had mentioned above. It is true that bitcoin is not in that stage yet to become the strongest currency at the present time now. Still Dollar is the number one currrency so far. It maybe miles away before it happen that bitcoin will surpass dollar. The dollar is not as solid as many people think, there are many countries like China and Russia that are avoiding using the dollar as much as possible and are thinking on ways to get the dollar out of the top spot, I think we only need an additional economic crisis before people around the world begin to lose faith in the US dollar as a the best currency in the world and when that happens bitcoin is going to have an easier time gaining ground to the dollar. |
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jatin729
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August 27, 2017, 03:33:48 AM |
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yeah I agree with you but There is some more reasons for it also.
Bitcoin is using P2P algorithm that mean there is no proper regulatory for transaction issue for eg. We can't reverse transaction.
Price fluctuation is main reason also.
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GreenBits
Legendary
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Activity: 1148
Merit: 1048
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August 27, 2017, 03:46:29 AM |
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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). |
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raven7886
Legendary
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Activity: 1512
Merit: 1041
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August 27, 2017, 03:44:16 PM |
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It's true Bitcoin can not change the world currency because bitcoin is so unstable from bitcoin prices so I think bitcoin is a global currency that you can use as the other side for the future as long-term investments if you want it so bitcoin is not perfect. Replace the world currency as an acceptable official payment instrument worldwide. Bitcoin is a new technology for the future. maybe
Yes, I agree with you mate that because of unstable price bitcoin couldn't replace world currency.Not only that, it's also because Its not already accepted by some countries especially to those who have unstable internet connections. And also the government itself they don't have interest on it. We can say bitcoin couldn't change but may consider as global currency for investment. Price fluctuation is not that big of a deal as some people make it. If I am not wrong, the value of fiat currency also fluctuates so chill. Bitcoin is becoming famous day by day and more common public is getting aware of it. It is acceptance as a payment is also increasing gradually. I am not denying that it still has to cover a long way but it may replace other currencies one day in the far future. Governments alone cannot do anything without the support of their common people. |
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Shimeka30
Newbie
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Activity: 28
Merit: 0
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August 27, 2017, 03:54:26 PM |
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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. |
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IamAltcoinfan
Full Member
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Activity: 476
Merit: 103
homt.net
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August 27, 2017, 03:59:15 PM |
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Yes it's the hard truth people are asking me how to invest on bitcoin some of my friends already invested and they are happy with price increase 2000$ to 5000$ + . Based on the scenarios bitcoin cannot be currency it's more like asset. Even though bitcoin is currency it's hard truth.
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cz3kit
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August 27, 2017, 04:11:53 PM |
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Currently, it can't replace fiat currency, since Bitcoin is fairly new. The common people haven't either heard of it or have no idea how this actually works. Would you invest your money in something if you have no idea how it works? I guess it will take years until Bitcoin gets wider accepted and more people will join it. At the end, bitcoin and blockchain has several benefits to offer, compared with fiat currencies  |
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