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Author Topic: Isn't speculation and volatility problem for cryptocurrency?  (Read 1341 times)
Pumpkin
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August 07, 2017, 10:21:09 AM
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Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?

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August 07, 2017, 10:25:23 AM
 #2

Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?

This is a chicken and egg situation. For bitcoin's price to stabilize, a large scale economy needs to develop with more businesses and users. For a large scale economy to develop, businesses and users will seek for price stability.

Fortunately, volatility does not affect the main benefits of Bitcoin as a payment system to transfer money from point A to point B. It is possible for businesses to convert bitcoin payments to their local currency instantly, allowing them to profit from the advantages of Bitcoin without being subjected to price fluctuations. Since Bitcoin offers many useful and unique features and properties, many users choose to use Bitcoin. With such solutions and incentives, it is possible that Bitcoin will mature and develop to a degree where price volatility will become limited.

In fact, in April 2016 Bitcoin's volatility reached record levels, close to that of gold, and other fiat pairs.

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August 07, 2017, 10:35:39 AM
 #3

Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?

This is a chicken and egg situation. For bitcoin's price to stabilize, a large scale economy needs to develop with more businesses and users. For a large scale economy to develop, businesses and users will seek for price stability.

Fortunately, volatility does not affect the main benefits of Bitcoin as a payment system to transfer money from point A to point B. It is possible for businesses to convert bitcoin payments to their local currency instantly, allowing them to profit from the advantages of Bitcoin without being subjected to price fluctuations. Since Bitcoin offers many useful and unique features and properties, many users choose to use Bitcoin. With such solutions and incentives, it is possible that Bitcoin will mature and develop to a degree where price volatility will become limited.

In fact, in April 2016 Bitcoin's volatility reached record levels, close to that of gold, and other fiat pairs.

Thanks Blackmoon. Do you reckon that using smart contracts on block chain platforms is a win win and it will affect positively the fluctuations as the values of those cryptocoins are proportional?

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August 07, 2017, 11:22:21 AM
 #4

Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?

This is a chicken and egg situation. For bitcoin's price to stabilize, a large scale economy needs to develop with more businesses and users. For a large scale economy to develop, businesses and users will seek for price stability.

Fortunately, volatility does not affect the main benefits of Bitcoin as a payment system to transfer money from point A to point B. It is possible for businesses to convert bitcoin payments to their local currency instantly, allowing them to profit from the advantages of Bitcoin without being subjected to price fluctuations. Since Bitcoin offers many useful and unique features and properties, many users choose to use Bitcoin. With such solutions and incentives, it is possible that Bitcoin will mature and develop to a degree where price volatility will become limited.

In fact, in April 2016 Bitcoin's volatility reached record levels, close to that of gold, and other fiat pairs.

Thanks Blackmoon. Do you reckon that using smart contracts on block chain platforms is a win win and it will affect positively the fluctuations as the values of those cryptocoins are proportional?

Oh yes, it's win win exactly. When the world financial system organically implements bitcoin/alts/blockchain in itself, then there will be less fluctuations, I guess.

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August 07, 2017, 03:27:29 PM
 #5

I agree with Blackmoon - the bigger the market capitalization gets the less volatile Bitcoin will become. So better enjoy it as long as it lasts!  Wink

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August 09, 2017, 03:21:22 PM
 #6

volatility is a problem for bitcoin?
Volatility is a problem when you wish to run business and if you intend to store your coins instead of converting it into quick fiat.  The price might fall down in no time and might suffer substantial losses.
Same goes for buying things from time to time - the price going up and down can be an issue while transacting.
But volatility of bitcoin can be taken for your own advantage. Helps you to get some quick profit while trade, has its own risks though.


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August 09, 2017, 07:10:32 PM
 #7

Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?
Speculation and high hopes drives the price
Volatility creates opportunity to make profit for day traders.

Without swing in price trading bitcoin will not be profitable and it can't get buzz/demand like it have right now. So I think both speculation and price volatility is what makes bitcoin a digital gold and we are in digital gold rush phase.


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August 09, 2017, 08:45:30 PM
 #8

Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?
Speculation and high hopes drives the price
Volatility creates opportunity to make profit for day traders.

Without swing in price trading bitcoin will not be profitable and it can't get buzz/demand like it have right now. So I think both speculation and price volatility is what makes bitcoin a digital gold and we are in digital gold rush phase.

On the contrary to what the OP says, I agree with your point. Bitcoin price is drive by a lot of speculation. And this is where the traders took their profit from. From the day to day price swings of bitcoin. I think we should look at it in the positive way, similar to stocks, you buy low and sell high. Or when the market is super volatile you can buy at good prices and sell for a good price. So yeah, it creates a lot of opportunity specially for most traders.

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August 09, 2017, 08:50:38 PM
 #9

The volatility is surely a problem for adoption, that said a whole eco system and economy has been built around it and it is thriving. We are talking billions of dollars and it is growing. The speculation is part of the fun and games.
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August 09, 2017, 09:13:13 PM
 #10

Those two things pretty much go hand in hand,  I'd say.  Same is true for other volatile assets, including
other currencies.
Are they a problem?  Yes,  imo. Except the volatility is what attracts the speculators (including me) in the
first place.   If crypto was more stable,  it wouldn't be as exciting.   It'd be about as exciting as the USD.
Some people want that; I'll pass on that.  As a way to make money,  nothing beats crypto's volatility.
Also,  more speculators give the market more liquidity and that's a good thing.
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August 09, 2017, 11:14:40 PM
 #11

Those two things pretty much go hand in hand,  I'd say.  Same is true for other volatile assets, including
other currencies.
Are they a problem?  Yes,  imo. Except the volatility is what attracts the speculators (including me) in the
first place.   If crypto was more stable,  it wouldn't be as exciting.   It'd be about as exciting as the USD.
Some people want that; I'll pass on that.  As a way to make money,  nothing beats crypto's volatility.
Also,  more speculators give the market more liquidity and that's a good thing.

Speculators form a very small part of the bitcoin community. If the high volatility discourages businesses from using bitcoins, speculators can't make up for it. I suspect speculators will be around even if bitcoin's volatility decreases a bit.

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August 10, 2017, 04:40:48 AM
 #12

Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?
I would say they are both problems and at the same time comes with its own prospect depending on which one you decide to see and make decision after all when the speculations goes right or wrong, it affects everybody rather than only the one who speculate but the problem I see there is that it keeps putting bitcoin in the category of emerging currency which big organisation that would change the fortune of the technology less interested in it's adoption.

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August 10, 2017, 05:34:05 AM
 #13

Digital currencies were mostly speculative in nature and just because of that volatility serve as an driving force carrying the trust of the users who are into digital currency usage. Also if volatility is not found with bitcoin, then it could have gained same value as the normal fiat. Now just because of the volatility bitcoin has got multiple usage and becomes more valuable than fiat.

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August 10, 2017, 06:28:13 AM
 #14

Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?

This is a chicken and egg situation. For bitcoin's price to stabilize, a large scale economy needs to develop with more businesses and users. For a large scale economy to develop, businesses and users will seek for price stability.

Fortunately, volatility does not affect the main benefits of Bitcoin as a payment system to transfer money from point A to point B. It is possible for businesses to convert bitcoin payments to their local currency instantly, allowing them to profit from the advantages of Bitcoin without being subjected to price fluctuations.

I'm going to disagree. Volatility DOES affect the ability of businesses to use bitcoin. For a start, bitcoin isn't "instant" anymore, it can take hours to confirm due to the small blocks, high fees and backlogs. By the time it does confirm, volatility can have made you a big fat loss.

IMO this is why we're not seeing adoption in the use of bitcoin as a currency, as opposed to as an asset.

Overstock has just enabled altcoins, in the hopes people use them instead. Lets wait and see if an alt emerges as a currency that can be actually used instead of bitcoin.

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August 10, 2017, 07:27:35 AM
 #15

Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?
Yes,speculation and volatility are big problems for crypto currencies,especially bitcoin.It is due to this volatility problem,some countries have not yet legalized bitcoin.Retailers don't come forward to accept bitcoin payments due to this volatile nature.But volatility is the nature of a decentralized currency and hence,it could not be solved completely.

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August 10, 2017, 10:16:30 AM
 #16

Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?

It is a problem. But it really can't be solved unless there are more people using bitcoin.

I think that Blackmoon crypto pretty much nailed this one. When more people start using bitcoin bitcoin will be seen as value itself. Right now, people are constantly checking bitcoin values in USD, but if bitcoin becomes mainstream people will just accept bitcoin "as-is", and price will stabilize.

Value is subjective, if everyone believes that bitcoin has a stable value, it will have a stable value.

But right now, not enough people use it and accept it. Volatility is actually good to some degree, imo. It means that bitcoin is independent of government intervention and is a truly free currency. Traders love it as well.

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August 10, 2017, 11:43:21 AM
 #17

When more people start using bitcoin bitcoin will be seen as value itself. Right now, people are constantly checking bitcoin values in USD, but if bitcoin becomes mainstream people will just accept bitcoin "as-is", and price will stabilize.


As long as fees are high people simply won't use it. Nobody is going to pay $3 in fees when buying an item that costs $25.

When I first started in bitcoin, you could actually send stuff for no fees at all if your coins were aged enough. The good old days!

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August 10, 2017, 12:06:15 PM
 #18

For the ecosystem isn't a problem at all because some people get attracted to Bitcoin because of the volatility and speculation, and stay because of Bitcoin's intrinsic value.

For the users isn't bad at all too because you can decide what level of risk you would like to take and how much you can invest and would be willing to risk. It is only a problem if you are not prepared or isn't mature enough yet

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August 10, 2017, 12:17:19 PM
 #19

When more people start using bitcoin bitcoin will be seen as value itself. Right now, people are constantly checking bitcoin values in USD, but if bitcoin becomes mainstream people will just accept bitcoin "as-is", and price will stabilize.


As long as fees are high people simply won't use it. Nobody is going to pay $3 in fees when buying an item that costs $25.

When I first started in bitcoin, you could actually send stuff for no fees at all if your coins were aged enough. The good old days!

In recent days people worry about the fees because of fees has been increased to high value. After segwit2x  activation now transaction fees seems little bit increased and I expect localbitcoins to reduce the deposit fees or taken that away from the site.

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August 10, 2017, 02:29:00 PM
 #20

Hey guys! Just want to double check if speculation and volatility is a problem for bitcoin?
That's why so many known companies refuses to accept bitcoin as main payment method. But there are good alternatives to bitcoin which can do it's payment function under less volatile market conditions. I know few projects have this feature which can control daily percent change of token/coin. Anyway the world is not ready to fully transfer payment system to digital money.

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