CryptoCurrency or CryptoAsset

[contentboxuser]

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable. So they are more like a cryptoasset.
Will anybody use bitcoin to pay for a coffee now?
USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.
Is there any solution to have a decentralized solution and at the same time with a stable value?
I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

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[micheal wang]

So what is your solution for bitcoin to have a stable price? For decentralized systems it is very difficult to manage a price or even highly unlikely. But anyway I agree with you if bitcoin works more as cryptoasset not as cryptocurrency, because it happens to me, prefer to make it as an investment and trading tool in appeal for a payment.

[BillCoin]

It's not like they are not suitable for payments.
Thing about it like that, the US dollar is also not stable against other currencies, but we use USD in the USA because that's the only currency, we don't really mind what is the price of the USD against other currencies while we use it.
Same goes with bitcoin, if everybody uses the currency then prices will be determined in bitcoin only, and not in bitcoin converted to USD, so it won't be any problem.
Bitcoin is still young and that's the reason it's price is pretty much crazy, it's hard to determine how much it's actually worth.

[Tyrantt]

Because if bitcoins price going up and down drastically, it's got the attention of big investors and when people treat it as an asset more than a currency (not saying that is not used as a currency at all, just not as much as it should be), it's bound to continue on that path and solidify as an asset. That's why I don't think we'll ever see BTC used as an everyday currency.

[tomahawk9]

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable

Wrong. They are suitable for payments, you can actually buy stuff (a house, a t-shirt, digital goods, etc) using cryptocurrencies, though only a handful of cryptos are being accepted by merchants.

Will anybody use bitcoin to pay for a coffee now?

With how cheap the fees have been over the past few weeks (1-10 Sat/b), yes, everyone can pay for a coffe now.

USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.

USDT is a ticking time bomb, I wouldn't count on such a shady cryptocurrency as a a solution for anything.

I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

Again, cryptocurrencies are being used as payments by many people around the globe even though they are highly volatile. Also, it would be really difficult to create a "stable" cryptocurrency since, one way or another, it would be part of the high volatility and movements of the crypto market.

[waskaplung]

So what is your solution for bitcoin to have a stable price? For decentralized systems it is very difficult to manage a price or even highly unlikely. But anyway I agree with you if bitcoin works more as cryptoasset not as cryptocurrency, because it happens to me, prefer to make it as an investment and trading tool in appeal for a payment.

Cryptocurrencies because represent a deeply flawed form of money, but policymakers should be careful not to crack down too hard on “crypto-assets,” Mark Carney ...

[donpepot]

So what is your solution for bitcoin to have a stable price? For decentralized systems it is very difficult to manage a price or even highly unlikely. But anyway I agree with you if bitcoin works more as cryptoasset not as cryptocurrency, because it happens to me, prefer to make it as an investment and trading tool in appeal for a payment.

There several misconceptions about the terms “digital assets” and “cryptocurrencies”. You see the two words used interchangeably but that is technically not correct. In every way, a cryptocurrency can be regarded as a digital asset but substituting the latter for the former is more often than not wrong. There are some attributes that are quite differentiating about the meaning of a digital asset and what should be referred to as a cryptocurrency. But still I'll go with cryptocurrency because its the best.

[bituperio]

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable. So they are more like a cryptoasset.
Will anybody use bitcoin to pay for a coffee now?
USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.
Is there any solution to have a decentralized solution and at the same time with a stable value?
I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

Nothing is really "stable", the price of coffee changes and nobody argues that the dollar is not stable in relation to the coffee. Stability in a way is linked to being backed up by real economies.

[jakagintiri]

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable. So they are more like a cryptoasset.
Will anybody use bitcoin to pay for a coffee now?
USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.
Is there any solution to have a decentralized solution and at the same time with a stable value?
I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

it seems very difficult to use as a means of payment, big price changes can not be stable for long term unlike the USD is always stable does not change much with other currencies, bitcoin is better used as a digital asset. Hopefully there is a suitable crypto.

[fiulpro]

I do think that any decentralized exchange will have very high chance or being unstable rather than stable.
Also offcourse cryptocurrency is not something that one can use for the payment since the value goes up and down a lot and... Developing a system..where the price is..in accordance with the current price and converting it into Bitcoins and then giving correct information.. a software like that is still under development..after that only we would be able to decide if thats a good solution or not ...but it's been so many years and we haven't seen anything like that on a larger scale so we need to wait and see...first

[Zandar]

Do you think fiat is stable? It took them decades and decades for it to appear stable, it is still not stable but it's inflation has been made smaller and smaller. Crypto is an entire different thing, you cannot expect coins in crypto to remain stable so it can be used for a cup of coffee etc. You can only do that by keeping up with its price and accept payments on current worth. But it might be best to create a crypto that always remains $1 in value, so people can use that for coffee etc, and later on exchange that into fiat or any other crypto like BTC. This way it can be used in the real world and cryptos ups and downs will have no effect upon it either.

[Kronos21]

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable. So they are more like a cryptoasset.
Will anybody use bitcoin to pay for a coffee now?
USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.
Is there any solution to have a decentralized solution and at the same time with a stable value?
I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

What is your understanding of a stable currency? Why do you think that bitcoin is not a stable currency? Maybe this is because we have to determine its price against the dollar? After bitcoin will be used to buy goods in the store, the price of coins will become more stable. Now the speculators have endless possibilities because all exchange cryptocurrency for Fiat.

[yamete kudasai]

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable. So they are more like a cryptoasset.
Will anybody use bitcoin to pay for a coffee now?
USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.
Is there any solution to have a decentralized solution and at the same time with a stable value?
I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

It is technically an asset and currency at the same time. Given that there are still countries where cryptos are not yet legal as a currency, it cannot be freely used to buy things but it's not because of its natural volatility in the market but because some countries chose to do so. Volatility is a natural phenomenon and characteristic of crypto so we can't do something about it.

[Hydrogen]

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable. So they are more like a cryptoasset.
Will anybody use bitcoin to pay for a coffee now?
USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.
Is there any solution to have a decentralized solution and at the same time with a stable value?
I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

Its not fair to compare new and emerging technologies like bitcoin to old and established technologies like fiat currencies which are centuries old.

Yes bitcoin carries a respectable degree of volatility which can make business difficult for those who do not exchange btc for fiat immediately after transactions are conducted. It helps to remember crypto is in its infancy. Its a developing and emerging trend which has plenty of space for growth and technology-wise it may only improve in the future as better innovations and greater support for mining with nvidia, samsung and russia throwing their hats in the ASIC industry, with markets becoming more decentralized.

There's an exchange named Robinhood which recently gained more than 1 million traders after it announced support for crypto currencies. Awhile ago coinbase added more than 100,000 new accounts in a single day. We have statistics that say the number of total crypto users doubles every 16 months. There are plenty of positives to focus on. Yet somehow people fixate and can only talk about "volatility". I don't get it.

[amih]

yes, I think for now crypto would be more appropriate if used as an investment asset because the level of stability does not yet exist. as with bitcoin people will tend to choose as an investment option for many investors. fluctuations in bitcoin prices in the current trading market are triggered by several factors and one of the most volatile price factors is that for now the Volatility in the Bitcoin market does not yet have a generally accepted index.

[vintages]

Cryptos are suitable for payment at least, that was the main concept that evolves it creation; to create an anonymous payment system. Its just unfortunate that the issues we will be having regard this is the instability price and the probably high transaction fee. But yet, its may not be possible to have a stable price. So its left for the owner to either want to use it as an asset or for making payment online.

[fatirborju]

Actually crypto that exist today can be for the payment of goods, but maybe not all goods that can pay, maybe only part if it is crypto not stable ....
Thank you

[cydrix]

Per my understanding, current cryptocurrencies are not suitable for payment since their value is not stable. So they are more like a cryptoasset.
Will anybody use bitcoin to pay for a coffee now?
USDT is a solution since it provide a stable value, but it is actually not a decentralized currency.
Is there any solution to have a decentralized solution and at the same time with a stable value?
I think there is a big opportunity to make a cryptocurrency that has a stable value and could be used for payment.

Our walet supports that and they also started a campaign towards their services to the people and every update gives us users more convenient features and the recently added an altcoin ETH. The app is called Coins.ph. although the services are all focused in the Philippines but we do have a wallet similar to paypal that pays stable amount and that wallet can be converted to ETH OR BTC.

[jtipt]

Because if bitcoins price going up and down drastically, it's got the attention of big investors and when people treat it as an asset more than a currency (not saying that is not used as a currency at all, just not as much as it should be), it's bound to continue on that path and solidify as an asset. That's why I don't think we'll ever see BTC used as an everyday currency.

Unfortunately this might be true. Such a high degree of volatility makes using cryptocurrency as a payment system very troublesome for the merchants. Few merchants removed it recently because of this, a good example being Steam. There are few workarounds for this like a payment processor like bitpay, but that's not how BTC was meant to use. I'm the end BTC might remain as an asset.

[contentboxuser]

There are some projects working on this issue, but seems there is no a perfect solution for this till now.
Vitalik also addressed this issue in his article on 2014, "The search for a stable cryptocurrency".
A project named "Maker" is working on this issue, not sure if it could success,  I'll keep an eye on their latest update.