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

[Jaxon1234]

You are right about this, for as long as bitcoin remains unstable and volatile, it will be difficult to class it as a currency, and a few will shy away from using it.First of all, i am not thinking about it now and also in future. People like to use bitcoin as it is.

[Matthew1968]

Bitcoin can not replace the currency because bitcoin is virtual money, but even virtula money but bitcoin has bigger value than real money, because bitcoin value can change fox. Bitcoin'value is too high for us to imagine that it can replace currency in the world. if this happens, it can appear to compete unbelievably

[sicnarfkswiss]

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 cannot replace because aside from its instability, government doesn't want it, Government rules the world. They do not want something that they cannot benefit also bitcoin is anonymous, and government doesn't want the anonymity of bitcoin.

[Harvey1960]

Volatility is just one of the reasons why bitcoin can't replace the fiat.Bitcoin is used for people doing business in bitcoin, by investing their money and making a profit.

[markleal]

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

Hi there facenew111, your opinion could be true but not most all of it. First, I agree with you that the price of bitcoin is not stable but it is not the reason why companies prefer usd rather than bitcoins. Let say you want to send money in the across the globe using money transfer company, they charged from 5-10% and could be transfer for about 10 mins to an hour. If it is bitcoins, those fees and speed could be much cheaper and faster, transaction fees nowadays in my wallet of choice range below 1%. so that is a huge cut cost.

[Riley678]

Most of them are accepting it through third party apps such as Coinbase and Bitpay.Even if the prices become stable it would not be accepted as a currency of any country.

[Teddy1968]

Bitcoin is a good investment but Fiat is the real currency to buy basic needs, We Invest bitcoin to earn and exchange it to fiat since bitcoin really have no value to other merchant who is not into crypto ,The rate at which bitcoins are getting popular worldwide, in the next five years they will be probably made legal all over the world.

[Theodore19]

yes I agree because if a price does not agree. then can not as a benchmark to determine the price of a good or object. Comparing the purchasing power may be better. Or you can compare its exchange rate versus other assets, such as gold and platinum. But once again, this is also not a completely accurate method.

[David454545]

it is already a world Currency, a virtual crypto Currency, I think it shouldn't compare this into fiat right now its a different approach, comparing virtual into physical fiats, price volatility is normal for virtual crypto currencies as it really shows how fast the changes would be in a certain scenarios,bitcoin does not need to replace currency at all. As you can see, without the mass adoption come from the government, people still use bitcoin as an investment and currency.

[Fairy_90]

I agree with your opinion, bitcoin trading has increased over the past year as many traders bought and sold it, the increase in trading volume also pushed up the price of the currency. It is mainly the result of speculation. However, there is no accurate information as to how many people buy bitcoin as an investment.
However, it is not possible to identify which uses are covered by the billing system and which are illegal and money laundering operations because the transactions are anonymous and do not involve third parties. are the reasons why the price of BTC is not stable

[rosepetals]

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 you are right,i think it can be used a s a currency  to be hold for a long term investments,but it can't be used as a currency in the whole world because not all people comfortable with this new trend .Bitcoins price is very unstable and it keeps on changing every single minute and as we all know this is just a normal flow of a cryptocurrency.Fiat is widely used and bitcoin cannot replace it,people keep using it where they were comfortable.

[xWolfx]

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.

Adding to this really good answer, currency doesn't have to be stable to be currency. Let's look at a extreme example, look at the Venezuela's currency, a lot more volatile than Bitcoin.

It's just a matter of waiting until the software follow it's own rhythm, it will eventually happen. And we better have a lot of coins in our pocket when that happens.

[David454545]

I think that this is only one of many reasons. Slowly the stability gain is happening as more users and markets and stores have started to accept bitcoin.

[dhka]

Volatility is just one of the reasons why bitcoin can't replace the fiat.Bitcoin is used for people doing business in bitcoin, by investing their money and making a profit.

Exactly. But as we know of, almost all people are intto bitcoin for investment purposes not for transaction. Bitcoin is still used as payment mainly for ICO  because bitcoin is the most accepted currency in all ICO

[rcoins0720]

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

maybe you are true but also wrong
in fact that ups and downs of coins is natural because of demand and also popularity of coins or maybe manipulation
after the downs of coins BITCOIN to be specific is will grow even bigger and much higher than what you think
bitcoin for me is alternative money and yes for me it will never replace fiat

[Ashe-J]

When you have to pay your bills with Bitcoin and after that, you will see that your bitcoin price increases then you must be repentant for you Bitcoin payment & yes it can be a different story as well ... So this is really tough to match Bitcoin with a conventional currency...

[sfdseew]

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 agree with you that if bitcoin becomes a currency, it may cause turmoil in the world economy. Bitcoin prices can fluctuate substantially in a single day, and I think it is only suitable for investment.

[usechain]

I agree with you that the bitcoin market is unstable and unsuitable as a vehicle for regulating the economy of the country. It is also difficult for the country to control the development of bitcoin as a decentralized digital currency.

[Jonsnowstark]

In the cuurrent situation, i have to agree tgat bitcoin cannot replace the current fiat because of its volatility. Bitcoin for now is taken as an asset or an investment because its price hike is but outrageous. Its very difficult to liken bitcoin tofiat because fiat is already establishef, and also fiat is centralized bd is controlled mostly by government and central bank so it really is nothing compared to that.

[belalangsembah]

Yeah! It’s clear. In the world Bitcoin can not replace the currency. Because it’s a only based on internet currency. It’s not looks like a another currency like dollars. And it’s price not stable. To earn and sell Bitcoin need a internet connection.

That is true it can never replace our currency who issued by our government because our currency is one of the identity of a nation. But bitcoin can be a alternate payment for paying online. And also because of its volatile in price it cannot be replace in currency.

That right, Bitcoin is virtual money not money that can be held or paper money so Bitcoins can not replace paper money that has a fixed price in each country respectively. Bitcoin will be more useful to make transactions between countries quickly in comparison with others.

the currency of the country and can not be compared with bitcoin only with the old he has experienced but still has a certain value that you can not compare in any state currency, this is volatile but you must take advantage at a time when the exponential rate goes up so that nothing is permanent on the Internet. And bitcoin can not be controlled by any government and bitcoin can not be a stock then it is not possible digital currencies and currency countries are clearly different