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

[kondor1030]

A day will come where everybody will own Bitcoin (or at least 90% of society). After you get everybody onboard it will be difficult to manipulate the price like that. Bitcoin will become more stable and people will be less scared of it.

[8Habits]

A day will come where everybody will own Bitcoin (or at least 90% of society). After you get everybody onboard it will be difficult to manipulate the price like that. Bitcoin will become more stable and people will be less scared of it.

With the current price swing of bitcoins going at least below $1000 in just a matter of hours due to China pronouncement to close exchange rates to some big financial institutions that handle big investment with fiat money saying that bitcoin is a big bubble comparing to tulip investment, it can only be less  affected by these manipulations and inside trading through regulations (government regulations to be exact) but this is really not the main goal of bitcoin in the first place. Hence, it will be each investor call whether or not to hold or sell their bitcoins..

[DoublerHunter]

A day will come where everybody will own Bitcoin (or at least 90% of society). After you get everybody onboard it will be difficult to manipulate the price like that. Bitcoin will become more stable and people will be less scared of it.

With the current price swing of bitcoins going at least below $1000 in just a matter of hours due to China pronouncement to close exchange rates to some big financial institutions that handle big investment with fiat money saying that bitcoin is a big bubble comparing to tulip investment, it can only be less  affected by these manipulations and inside trading through regulations (government regulations to be exact) but this is really not the main goal of bitcoin in the first place. Hence, it will be each investor call whether or not to hold or sell their bitcoins..

It is kinda OA to say that the price of bitcoin seems to go down at least to 1,000 USD because of the announcement of the chinese government to completely banned the bitcoin and the bitcoin exchanges in their country but if you are a true bitcoin believer then you can easily get used to that kind of price swings in bitcoin because at the end of the day, it will go up again and it will give profit to us easily.

[bohr]

Yes, people will think that they were crazy to choose bitcoin as primary currency. Well, that might be reason why bitcoin is just an asset which is being used to gain profits with those up and down movements of bitcoin writhing short period of period of time. That is the quality of bitcoin which attracted true investors in first place and they started creating assets for themselves and earned millions over it.


The bitcoin should be looked at in the similar way only. It can never become currency of nation or world which people keep speaking about. Thee is not sufficient circulation which can feed all the population on the earth so that's the another pint one should jot down apart from the fluctuations.

The last paragraph is completely mistaken many people make the same mistake when it comes to gold, they say that there is not enough gold to sustain the world economy when we know that the world economy ran in gold for a very long time, the only thing is that bitcoin is going to become very valuable if that happened and that is why many people like me are holding our bitcoin in the first place.

[8Habits]

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.

[bohr]

A day will come where everybody will own Bitcoin (or at least 90% of society). After you get everybody onboard it will be difficult to manipulate the price like that. Bitcoin will become more stable and people will be less scared of it.

With the current price swing of bitcoins going at least below $1000 in just a matter of hours due to China pronouncement to close exchange rates to some big financial institutions that handle big investment with fiat money saying that bitcoin is a big bubble comparing to tulip investment, it can only be less  affected by these manipulations and inside trading through regulations (government regulations to be exact) but this is really not the main goal of bitcoin in the first place. Hence, it will be each investor call whether or not to hold or sell their bitcoins..

It is kinda OA to say that the price of bitcoin seems to go down at least to 1,000 USD because of the announcement of the chinese government to completely banned the bitcoin and the bitcoin exchanges in their country but if you are a true bitcoin believer then you can easily get used to that kind of price swings in bitcoin because at the end of the day, it will go up again and it will give profit to us easily.

If you are in bitcoin the only thing you can do is to get used to the movements of the market, the market is not going to get any less volatile any time soon and it may be argued we are headed for even greater volatility since it is obvious that when the hard fork planned in November by the miners happens that the volatility is going to increase, some will want to buy bitcoin to get in the airdrop while some will sell and get altcoins instead.

[greeklogos]

Nobody is saying about replacement. I think that all financial operations will move in the digital world one day. Countries will create the analogue of their fiat as crypto. So paper and physical money will go in the history simply.

[8Habits]

A day will come where everybody will own Bitcoin (or at least 90% of society). After you get everybody onboard it will be difficult to manipulate the price like that. Bitcoin will become more stable and people will be less scared of it.

With the current price swing of bitcoins going at least below $1000 in just a matter of hours due to China pronouncement to close exchange rates to some big financial institutions that handle big investment with fiat money saying that bitcoin is a big bubble comparing to tulip investment, it can only be less  affected by these manipulations and inside trading through regulations (government regulations to be exact) but this is really not the main goal of bitcoin in the first place. Hence, it will be each investor call whether or not to hold or sell their bitcoins..

It is kinda OA to say that the price of bitcoin seems to go down at least to 1,000 USD because of the announcement of the chinese government to completely banned the bitcoin and the bitcoin exchanges in their country but if you are a true bitcoin believer then you can easily get used to that kind of price swings in bitcoin because at the end of the day, it will go up again and it will give profit to us easily.

If you are in bitcoin the only thing you can do is to get used to the movements of the market, the market is not going to get any less volatile any time soon and it may be argued we are headed for even greater volatility since it is obvious that when the hard fork planned in November by the miners happens that the volatility is going to increase, some will want to buy bitcoin to get in the airdrop while some will sell and get altcoins instead.

Every hard fork is always a good opportunity to a skilled trader. That said trader will going to buy when people are scared and selling their coins and then that trader will sell the coin when everything stabilizes and when people are starting to get greedy.

[ericson]

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 made to be a global currency and not as stock.

Why is bitcoin so volatile?

Because bitcoin is in a very VERY young stage. The system isn't final yet. There are lots of updates to be made in the future that can determine if bitcoin will continue to be the de-facto of cryptocurrencies or not. Not to mention that we haven't achieved global adoption yet.

The USD has been around since forever. So common sense should tell you that it will be stable compared to crypto that hasn't even been around for more than a decade yet.

Do your own research.

But you are forgetting that USD or any other fiat  currency is controlled by the government and Bitcoin is not controlled by anyone so price fluctuation is a common in Bitcoin. I agree with OP that Bitcoin is more like a Investment option then currency mode.

Youre quite right bitcoin isnot controlled by any government and bitcoin cannot be a stock it is not possible digital currency and state currency is definitely different because usd is a state currency and it cannot compare to btc just by long it has ben going on but bitcoin has definite value that you cant compare in any state currency yes it is volatile but you must take advantage at a time when the rate has exponentialy gone up theres no permanent on the internet

[filharvey]

Yes,bitcoin price is not stable because of its decentralized nature.Its volatile nature could not be solved.It is due to this volatile nature,bitcoin has not been yet legalized in many countries and also it has not been accepted by many merchants.Its price could not be made stable since it is not a nation's currency which is controlled and regulated totally by the appropriate countries.

Unless,its price does not gets stable,it will not replace currency but it would be rather used as a secondary currency.

[cryptotimes.ng]

Yes,bitcoin price is not stable because of its decentralized nature.Its volatile nature could not be solved.It is due to this volatile nature,bitcoin has not been yet legalized in many countries and also it has not been accepted by many merchants.Its price could not be made stable since it is not a nation's currency which is controlled and regulated totally by the appropriate countries.

Unless,its price does not gets stable,it will not replace currency but it would be rather used as a secondary currency.

Bitcoin has alot of hurdles to cross to be able to replace fiat.
Volatility is just one aspect why Bitcoin might not be able to replace fiat. atleast all currencies do fluatuate in value on a daily basis, so that's not unique to Bitcoin. I think it's also important to know that bitcoin is technology based, unlike fiat requiring at minimum internet connectivity making those who live in places without good networks and those who do not have the technoloical knowledge to manage their own transaction not merge well with the concept.

[bellamae]

Bitcoin cannot exchange your own country's currency. Bitcoin is not invented just to change our used currency in our own country. And not the very citizens who control the currency itself the government controls it. They are so fast that they monitor that's why currency so stable, it is not like in bitcoin that is new and not just controlled by the government.

[triads]

Volatility is more obvious when you are constantly comparing it to an outside
currency. So when you look at BTC vs. the Euro, it looks pretty wild. And the
Euro looks stable.

BUT, if you compare Euro vs. Dollar, it actually moves quite a bit too. Since the
start of the year, the Euro is up 15% v. the Dollar. But people in the Euro area
don't feel the volatility because they are immersed in it. So the more widespread
BTC becomes, the more the apparent volatility will decrease.

[BarbieCasino]

Yes, people will think that they were crazy to choose bitcoin as primary currency. Well, that might be reason why bitcoin is just an asset which is being used to gain profits with those up and down movements of bitcoin writhing short period of period of time. That is the quality of bitcoin which attracted true investors in first place and they started creating assets for themselves and earned millions over it.


The bitcoin should be looked at in the similar way only. It can never become currency of nation or world which people keep speaking about. Thee is not sufficient circulation which can feed all the population on the earth so that's the another pint one should jot down apart from the fluctuations.

The last paragraph is completely mistaken many people make the same mistake when it comes to gold, they say that there is not enough gold to sustain the world economy when we know that the world economy ran in gold for a very long time, the only thing is that bitcoin is going to become very valuable if that happened and that is why many people like me are holding our bitcoin in the first place.

The price of the bitcoin is getting more and higher. It is common now and the bitcoin will be high for sure, it is the opportunity for the people and it is the chance to increase your money in the short time. Bitcoin price is increasing with the increase of the people who are using bitcoin.  It is making the people to use bitcoin as the short and the long term investment.

[8Habits]

Volatility is more obvious when you are constantly comparing it to an outside
currency. So when you look at BTC vs. the Euro, it looks pretty wild. And the
Euro looks stable.

BUT, if you compare Euro vs. Dollar, it actually moves quite a bit too. Since the
start of the year, the Euro is up 15% v. the Dollar. But people in the Euro area
don't feel the volatility because they are immersed in it. So the more widespread
BTC becomes, the more the apparent volatility will decrease.

Nice point there mate. The volatility really comes with certain product, instrument, or altcoin that you are comparing with bitcoin. Although I love it most when it is kind of volatile because there is just too much of an opportunity to gain some profit from a very short period of time. Just remember always that you should have pre-planned trading plan before you even make a trade.

[carlisle1]

Volatility is more obvious when you are constantly comparing it to an outside
currency. So when you look at BTC vs. the Euro, it looks pretty wild. And the
Euro looks stable.

BUT, if you compare Euro vs. Dollar, it actually moves quite a bit too. Since the
start of the year, the Euro is up 15% v. the Dollar. But people in the Euro area
don't feel the volatility because they are immersed in it. So the more widespread
BTC becomes, the more the apparent volatility will decrease.

Nice point there mate. The volatility really comes with certain product, instrument, or altcoin that you are comparing with bitcoin. Although I love it most when it is kind of volatile because there is just too much of an opportunity to gain some profit from a very short period of time. Just remember always that you should have pre-planned trading plan before you even make a trade.

strategy will help you to read the chart whether you will go with short term or long hold the best timing is when everything seems to be fallen
and yet you understand that quality alts will bounce back and begin to rise in anyhow, this fluctuations really giving us a chance to earned for
a short trades.

[FLoving]

Volatility is more obvious when you are constantly comparing it to an outside
currency. So when you look at BTC vs. the Euro, it looks pretty wild. And the
Euro looks stable.

BUT, if you compare Euro vs. Dollar, it actually moves quite a bit too. Since the
start of the year, the Euro is up 15% v. the Dollar. But people in the Euro area
don't feel the volatility because they are immersed in it. So the more widespread
BTC becomes, the more the apparent volatility will decrease.

Nice point there mate. The volatility really comes with certain product, instrument, or altcoin that you are comparing with bitcoin. Although I love it most when it is kind of volatile because there is just too much of an opportunity to gain some profit from a very short period of time. Just remember always that you should have pre-planned trading plan before you even make a trade.

strategy will help you to read the chart whether you will go with short term or long hold the best timing is when everything seems to be fallen
and yet you understand that quality alts will bounce back and begin to rise in anyhow, this fluctuations really giving us a chance to earned for
a short trades.

Strategy Is everything and it helps a lot to understand the chart usually the thumb rule buy low sell high is adopted by everyone, some of investor get panic in the dump prices and face loss by selling and the very next morning they are regretting, dump is also good because it attract more user to invest so don’t get panic hold till the good time come and then sell.

[XbladeX]

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

problem is not lack of price stability - with high capitalization will be HARD manipulate price of BTC.
But real problem is skaling with 300 000 tx per day you can dream.
To be able to serve as wolrd curency it need to be with unlimited tx/day will BTC survive that ?

[Ryan Dugan]

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.

[daronch]

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

There is some truth in this. However, do not entirely discount the possibility of it happening in the future.