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jakoylantern
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June 05, 2018, 02:08:11 PM |
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For me, it depends on the person if he/she want a stable price rate. We all now that cryptocurrency will not be stable because it is created like that and also that is the nature of cryptocurrency like bitcoin. The volatility price of cryptocurrency trigger many traders to invest in this kind of business because they know that if you invest or trade your cryptocurrency at the almost perfect timing, I’m sure that you profit a massive amount of money. It only difficult to use a money with a fluctuating value if you want to spend it every day, but if you only use at a few times, maybe it’s a great currency to use because your money can grow even at a short period.  |
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"You Asked For Change, We Gave You Coins" -- casascius
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wtbhitlv
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June 05, 2018, 02:12:23 PM |
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He says it makes sense that too much more volatile currency can't be used as money. If the exchange rate is very volatile, there are many transactions in real society that are difficult to accomplish. I believe that with the development of the community, bitcoin fluctuations will become smaller and smaller.
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mrtryonebiggums
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June 05, 2018, 04:20:25 PM |
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Your header is incorrect it can be used as money but what your header should say is volatility decreases the reliability of this asset. Because it is so volatile you can't rely on an asset like that, but it will still function as money this much is certain.
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systematicdeception
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June 05, 2018, 04:27:32 PM |
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Volatility is a mathematical measure of the possible change in prices. Relative volatility helps to understand why a daily change in the rate of a large currency by 2% will cause panic in the market, and why daily fluctuations in the cost of Bitcoin (4%) are quite common.
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Aveatrex
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June 05, 2018, 04:32:12 PM |
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I'm just reading an article in the newspaper. Klaus W. Wellershoff (a last chief in UBS Bank) says that's impossible to use a currency with volatility as money. If the value of the money decrease, that means the value of the merchandise decrease. For example : if you buy a flat with bitcoin and few years later the bitcoin value decrease... Your flat lose his value as well.
What do you think about this argument?
I agree with this argument. However,Bitcoin as an example is volatile only because the volume is low compared to fiat currencies and thus can't be used as a currency for the moment.But when Bitcoin will get more interest and have a huge volume like fiat currencies does,it will no longer be volatile and then can be used as a currency. |
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Surge_Dev
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June 05, 2018, 04:41:54 PM |
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You are mistaken as it can be used as money because it is impossible not to have volatility at all, any type of currency has it. Moreover, even dollar we use is volatile as well. I think that the rate of volatility will become less soon
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monkito
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June 05, 2018, 04:49:36 PM |
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I really believe that is the challenge of bitcoin and crypto. Although, decentralized supply is the legacy of bitcoin and crypto. but to become a popular currency in the world as money. cryptocurrency may need more variation from its inherent nature. In addition, Buterin's opening of a discussion on the trend of centralized supply on his twitter. It seems that the future, the supply of focus can bring survival, sustainability and development stronger for cryptocurrency.
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xhienigat
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June 05, 2018, 04:49:41 PM |
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You are mistaken as it can be used as money because it is impossible not to have volatility at all, any type of currency has it. Moreover, even dollar we use is volatile as well. I think that the rate of volatility will become less soon
Crypto volatility right now is not suited to become a currency and even if you’d say that dollar have price movement from time to time its not the same with crypto still. For as long as people will not fully adopt and acknowledge crypto then the volatility will be high because people will only use crypto for trading and long term investment not a currency. |
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VeteranH
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June 05, 2018, 05:20:07 PM |
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IF cryptocurency were to be used as money it would actually be less volatile. More users more trust and more investors. Who knows, maybe our current money would then be volatile haha.
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gabagandalf
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June 05, 2018, 05:25:12 PM |
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I'm just reading an article in the newspaper. Klaus W. Wellershoff (a last chief in UBS Bank) says that's impossible to use a currency with volatility as money. If the value of the money decrease, that means the value of the merchandise decrease. For example : if you buy a flat with bitcoin and few years later the bitcoin value decrease... Your flat lose his value as well.
What do you think about this argument?
i see no problem in it. fiat money is losing more and more value each year through inflation and other stuff. but with bitcoin you have more chance that the value increases. at fiat money as good as not at all. |
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juragane
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June 05, 2018, 05:39:15 PM |
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it seems that if made for the main money of course will not be and will not be suitable because the price will not be stable and have a very high risk.
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sevenbits
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June 05, 2018, 06:06:49 PM |
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Actually very doubtful argument. The price of the product is estimated at the cost of the efforts expended for its release. Here the rate of profit of the campaign that issued it is added. In what currency were the calculations made at the time of issue is not so important. And in general, it all depends on the specific product in question.
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setupbounds
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June 06, 2018, 05:19:32 AM |
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Perhaps if the cryptocurrency is used ubiquitously and Bitcoin will have and use everything, then it will cease to be tied to the dollar and no one will evaluate its price in dollars. After all, it does not matter how the price of Bitcoin has changed in an hour, if a cup of coffee now costs 1000 satoshi and in an hour the same cup of coffee costs the same 1000 satoshi.
We still need something more than adoption for that to happen bitcoin will have to destroy fiat currencies for something like what you are describing to happen, after all you want bitcoin to be the point of reference when it comes to pricing things but we know that is not what it is happening now when the point of reference is the US dollar, after all everything is priced in dollars and until that changes bitcoin will continue to being valued in dollars as well. As far as I can foresee the things, there is nothing in this world which is not possible and that we can even expect any of the crypto currency especially bitcoin having a highly fluctuating market value as a global currency and that a time will come, when people will start using the crypto currencies just like the normal paper money and that they will then have no need to keep the paper money with themselves. |
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MISERICORDAE PROJECT
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June 06, 2018, 11:15:08 AM |
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Perhaps if the cryptocurrency is used ubiquitously and Bitcoin will have and use everything, then it will cease to be tied to the dollar and no one will evaluate its price in dollars. After all, it does not matter how the price of Bitcoin has changed in an hour, if a cup of coffee now costs 1000 satoshi and in an hour the same cup of coffee costs the same 1000 satoshi.
We still need something more than adoption for that to happen bitcoin will have to destroy fiat currencies for something like what you are describing to happen, after all you want bitcoin to be the point of reference when it comes to pricing things but we know that is not what it is happening now when the point of reference is the US dollar, after all everything is priced in dollars and until that changes bitcoin will continue to being valued in dollars as well. As far as I can foresee the things, there is nothing in this world which is not possible and that we can even expect any of the crypto currency especially bitcoin having a highly fluctuating market value as a global currency and that a time will come, when people will start using the crypto currencies just like the normal paper money and that they will then have no need to keep the paper money with themselves. Cryptocurrency traders argue strongly in favor of price-volatility, fluctuating market price. Stability kills their interest they argue but everything comes with a moderation, at least for ordinary users to be able to use a cryptocurrency for their daily routine without sporadic changes in value. |
▰▰▰[ ONNI ]▰▰▰ ●●●Grüezi mitenand!●●●
Revolutionary Gold-Pegged SuperStable Price for Businesses
Bespoke HemiVolatile Price for Currency Traders
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traderethereum
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June 06, 2018, 11:16:47 AM |
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I think if we cannot use as money, we still can withdraw the crypto to money so we can use that money to buy something. but I am sure that in the future, cryptocurrency can be used as money and maybe there is a new coin that is not too volatile so we can use it to buy anything and it could be a new thing for the payment system.
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Sled
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June 06, 2018, 11:35:20 AM |
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I think if we cannot use as money, we still can withdraw the crypto to money so we can use that money to buy something. but I am sure that in the future, cryptocurrency can be used as money and maybe there is a new coin that is not too volatile so we can use it to buy anything and it could be a new thing for the payment system.
If we are going to talk about cryptocurrency, volatility is always there and it will not vanish like what you expected. Since the cryptocurrencies are decentralized and there is no closing time for the market of crypto then that makes the cryptocurrency so volatile and that is the reason why it can't be used as money for doing day to day basis activities. |
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Chris BENNETT
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June 06, 2018, 12:26:33 PM |
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if you buy a shirt for primary cost and then when it goes down then you have to sell it in low cost, in loss. How can it be reliable then.
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BarbusseH
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June 06, 2018, 01:09:01 PM |
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A possible use case is a quick transfer from fiat to the crypto, the purchase of goods, then the seller as quickly translates into fiat and no problems with volatility, subject to low commissions for exchange.
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Moneypham5
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June 06, 2018, 02:48:46 PM |
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Yes . Bitcoin is a market for investment, but some people still accept bitcoin payments because of its convenience. And these people are looking out for the development of bitcoin so they take the risk to make a high profit.
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Janation
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June 06, 2018, 02:52:34 PM |
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if you buy a shirt for primary cost and then when it goes down then you have to sell it in low cost, in loss. How can it be reliable then.
And why would you do that? We are talking about the crypto currency that you used to buy the shirt that means even if the price of crypto currency that you used to buy the shirt goes down, the value of that shirt is still the same hence you add the amount of the crypto you want to sell it with the same value of price since it not really change but the price of crypto currency. |
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