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

[bohr]

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

Great post, everything is worth a read but the first paragraph is hilarious, while it is obvious that some of the bitcoin volatility comes from factors like speculation and manipulation of the price, or the fact that the technology is young at the same time a lot of the volatility comes from the simple fact that governments of the world seem unable to control their spending habits and keep spending money they do not have.

[Ucy]

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 Google isn't meant to be "Stable". Thought it was just meant to be inflation proof.

 OP made some interesting points but he/she needs to understand that Bitcoin was never made to be what he thought it should be.
Guess one day developers could  develop a kind of Cryptocurrency that is as stable as Fiat especially the dollars

[annbagira]

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

Hello! I can open a secret to you. Anything in this mad world is unstable for many reason. But in any situation we can find at least one or more positive characteristics. For example it's boring to trade with stable (in coma, when it between life and dead) currency. Much more fun to have deal with crazy cardiogram of some of alt coins and bitcoin too Good to trade ( with rick of course!) .Answer is: yes bitcoin need some time to acclimatize in this world but it never will be stable.

[xBitHodler]

I believe it's still too early for Bitcoin to replace the world's currency. Transactions are still to slow for that to happen. It will be hard and long process for many shops to switch to Bitcoin. Many of them are not accepting credit cards! We are in 2017 and there are still places where you have to use only cash! Goverments would help probably in such situation.

[azguard]

Something that is not stable dont mean that can replace something this is normal. Bitcoin is not stable it ok we see that price is going up and down all the way.
But looking little bigger think that could be possible only if banks and government accept this, in other way this wont happen any time soon.

[Visbay]

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 Google isn't meant to be "Stable". Thought it was just meant to be inflation proof.

 OP made some interesting points but he/she needs to understand that Bitcoin was never made to be what he thought it should be.
Guess one day developers could  develop a kind of Cryptocurrency that is as stable as Fiat especially the dollars

Yes you are right bitcoin get control on all currency including dollar bitcoin price is much more high then other currency and still it’s going to high if bitcoin make it centralized so I think in a short time bitcoin replace all currency secondly day by day the users are also going to increase its mean people are showing interest in bitcoin.

[Frank0209]

Of course it can't cause there are some countries are banning Bitcoin so there are no ways for Bitcoin to replace currency in these countries but in some developed countries in which Bitcoin has been legalized you can see that Bitcoin can replace currency, you can buy everything or pay for taxi, rent a house with Bitcoin. Although the Bitcoin price is not stable but thr sellers can easily change the rate with a bot so I think if Bitcoin is legalized all over the world, it can easily replace all currency in every country

[duyduc256]

Of course it can't cause there are some countries are banning Bitcoin so there are no ways for Bitcoin to replace currency in these countries but in some developed countries in which Bitcoin has been legalized you can see that Bitcoin can replace currency, you can buy everything or pay for taxi, rent a house with Bitcoin. Although the Bitcoin price is not stable but thr sellers can easily change the rate with a bot so I think if Bitcoin is legalized all over the world, it can easily replace all currency in every country

I agree with you, if this happens then Bitcoin will be the global currency of the whole world and everyone can travel or pay with Bitcoin. I think the world is in favor of Bitcoin and will soon be legalizing Bitcoin in the future

[paolo099]

we are all dreamers but sometime, we are not practical.. bitcoin will never replace currencies, it can't be regulated that's why, do you think with all the interest behind (politics, economics and so on) will let BTC get recognized worldwide? It would be amazing, but it wont happen anytime soon.

[jekjekman]

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 think Bitcoin is not replacing Fiat currency, it is representing as digital currency in the digital world it just happen that it has have value of USD because people invested in it using that Fiat currency and we all know that USD is the medium of the world currencies. I believe that one day bitcoin will reach the stable price of it, it is still on the developing stage were people is so hype up to invest in it resulting of too much volatility.

I am also not believing that Bitcoin will replace the Fiat currency in the future as Fiat represent ever each countries identity and economy so replacing it with bitcoin is so impossible to me.

[dewi91]

Yes, maybe bitcoin can't replace currency in the world, because many country can't accept bitcoin and so many people not know about bitcoin. So difficult for bitcoin to replace global currency, but I think bitcoin can be alternatif currency..

[Xervo]

I regard bitcoin primarily as an investment for a long-term period. Bitcoin is at the very beginning of its journey, which is why it is unstable it is natural. In addition, the currency by the time we are used to (the dollar, the euro, etc.) has the support of the state, which makes it stable. However, I believe that in the near future bitcoin will stand firmly on its feet and become a currency, using equivalent to our usual paper money.

[Ultegra134]

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 think Bitcoin is not replacing Fiat currency, it is representing as digital currency in the digital world it just happen that it has have value of USD because people invested in it using that Fiat currency and we all know that USD is the medium of the world currencies. I believe that one day bitcoin will reach the stable price of it, it is still on the developing stage were people is so hype up to invest in it resulting of too much volatility.

I am also not believing that Bitcoin will replace the Fiat currency in the future as Fiat represent ever each countries identity and economy so replacing it with bitcoin is so impossible to me.

I completely agree, firstly, Bitcoin is way too young to make any prediction on whether or not it can play the role of a normal currency in our daily lives. Secondly, It's a digital currency made to co-exist with Fiat currencies, it's probably never going to outplay a Fiat currency due to its complexity and it mostly being seen as an investment opportunity. Its price volatility is only one of the reasons it cannot replace fiat currencies.

[bohr]

I regard bitcoin primarily as an investment for a long-term period. Bitcoin is at the very beginning of its journey, which is why it is unstable it is natural. In addition, the currency by the time we are used to (the dollar, the euro, etc.) has the support of the state, which makes it stable. However, I believe that in the near future bitcoin will stand firmly on its feet and become a currency, using equivalent to our usual paper money.

This is another reason why bitcoin is more volatile, fiat currencies have a central bank that controls their emission so if the value moves too much in one direction or the other they can adopt corrective measures, like printing more currency or to sell currency they have in reserve and that is something that is impossible to do with bitcoin at all.

[andylowe]

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, I agree with you mate, volatility I'm bitcoin is something that is hard to control. That's why as of now, it will never become a currency. Though of course you can use it to buy products online or pay bills to those merchants or establishments that accepts bitcoin. Mostly I think people chase bitcoin even if it is very volatile because due to its volatility, people find it an opportunity to gain profit. That's why up to now, bitcoins price continue to rise despite all the negative issues. Long live bitcoin?

[Cosbycoin]

Something that is not stable dont mean that can replace something this is normal. Bitcoin is not stable it ok we see that price is going up and down all the way.
But looking little bigger think that could be possible only if banks and government accept this, in other way this wont happen any time soon.

Decentralization is the blessing of bitcoin if its value is also stable then there will be no difference in cash and bitcoin so think positive bitcoin has a lot of room to earn faster as compare to conventional money and talking about its dump there is one thing that little dump creates a huge pump and that pump gives a lot of profit so if this will replace conventional one that will be best.

[weblouartisan]

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 truly agree in your statement since the banning of ico's in china really affected the entire market and there is so much drama like bitcoins value will massively decrease but yes it was not stable and there is really an end for it in the future.

[8Habits]

Something that is not stable dont mean that can replace something this is normal. Bitcoin is not stable it ok we see that price is going up and down all the way.
But looking little bigger think that could be possible only if banks and government accept this, in other way this wont happen any time soon.

Decentralization is the blessing of bitcoin if its value is also stable then there will be no difference in cash and bitcoin so think positive bitcoin has a lot of room to earn faster as compare to conventional money and talking about its dump there is one thing that little dump creates a huge pump and that pump gives a lot of profit so if this will replace conventional one that will be best.

the prices of bitcoin, no matter how winding it may be is just but normal especially that there are many people who shows interest in investing with bitcoins. Those news about China banning ICO's and exchanges does affect a little to bitcoin but now, bitcoin has proven itself again that indeed it is a good investment at these press time.

[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

I think Bitcoin is not replacing Fiat currency, it is representing as digital currency in the digital world it just happen that it has have value of USD because people invested in it using that Fiat currency and we all know that USD is the medium of the world currencies. I believe that one day bitcoin will reach the stable price of it, it is still on the developing stage were people is so hype up to invest in it resulting of too much volatility.

I am also not believing that Bitcoin will replace the Fiat currency in the future as Fiat represent ever each countries identity and economy so replacing it with bitcoin is so impossible to me.

I completely agree, firstly, Bitcoin is way too young to make any prediction on whether or not it can play the role of a normal currency in our daily lives. Secondly, It's a digital currency made to co-exist with Fiat currencies, it's probably never going to outplay a Fiat currency due to its complexity and it mostly being seen as an investment opportunity. Its price volatility is only one of the reasons it cannot replace fiat currencies.

The age of bitcoin does not matter what it is important is the potential it has, could bitcoin potentially become so popular that you could use it in your everyday life, I think the answer to that is yes, we are not there yet, we need the activation of the lightning network so the fees go down and microtransactions can be confirmed a lot faster but the point is that bitcoin is making progress to get there.

[Arkann]

Bitcoin not only can not replace the usual currency because it has an unstable price, that is, it has very high volatility, but also because it differs from the usual currency in its nature and functionality, and this must be taken into account.