A cryptocurrency with volatility can't be used as money

[lenini]

The volatility of the fiat currencies can be within 1-2%, if these figures reach 10%, then the country is in crisis, for example, the fall of the government, etc. How can a crypto currency become money with such volatility? Then our life would turn into a continuous crisis. It can be argued that crypto-currencies are in an embryonic state and may gain strength with time.

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[rossr1]

Cryptocurrencies cannot be created without volatility, if that's possible then it is same as the traditional fiat. Being volatile makes the cryptocurrency more stronger and valued, because if it is stable people consider the an optional solution for fiat. Now it is not, it gets importance as an investment, trading asset, exchangeable, convertible to fiat.

Good point of view. I support such a thing as a future for purchases, earnings, life in this technological world. You really need to look at the technology and its impact on our lives.

[barabarian1]

It is true. better digital currency used as a tool for investment like stock in general. crypto value is very changeable and can fall to zero, so it is not possible to be used as money or local money. because it will cause losses for the owner of crypto if used as a means of payment.

[pandanaran]

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?

it seems like I've also read similar articles, where bitcoin can not be used as money. Fiat and bitcoin are two different currencies, the value of the fiat depends on the condition in each country while the bitcoin is different. if users are hesitant with bitcoin used as money, I think even though bitcoin is volatile but still worth make as money.

[Altf4]

It is true. better digital currency used as a tool for investment like stock in general. crypto value is very changeable and can fall to zero, so it is not possible to be used as money or local money. because it will cause losses for the owner of crypto if used as a means of payment.

The bitcoin really is digital currency which the main goal is for investment purposes , but as said earlier the companies and industries that receive and accept payments of bitcoin knows that they will gain in the future if the value will rise, this is business so company will come to agreement with bitcoin even they know bitcoin is very volatile.

[BitcoinNational]

The bitcoin shouldn't be used as a a classic currency anyway, do you buy your bread or your coffee with gold?
Moreover that's true that the volatility of the cryptocurrency makes it actually unsuitable to be a real currency that your shops could accept.

[fullhdpixel]

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?

Eehm… if I’m right, every currency is volatile, the only difference is that Bitcoin too volatile than every other currency in the market. Bitcoin can’t be used as a country’s currency, not because it is volatile, but because it doesn’t have what it takes to be a real currency (all cryptocurrencies can’t be used as a country’s currency).

Take a look at conventional currencies, they can be used both offline and online, but cryptocurrencies can only be used online. Conventional currencies has lots of qualities that makes it much better than cryptocurrencies, cryptocurrencies are meant for investment and making transactions 🤔 hope I’m right.

[senin]

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?

In any case, the use of bitcoin as money is difficult because of its high volatility. Many commercial structures first began to take bitcoin as a means of payment, but then abandoned it precisely through high volatility. It is also possible that the absence of an appropriate legal framework for its use has also played a role here. After the legalization of the crypto currency, most states will see whether bitcoin can be used as a means of payment for doing business. Citizens in any case will use bitcoin as money.

[Malaya]

The bitcoin shouldn't be used as a a classic currency anyway, do you buy your bread or your coffee with gold?
Moreover that's true that the volatility of the cryptocurrency makes it actually unsuitable to be a real currency that your shops could accept.

Because of the changing value of bitcoin it is not suitable to be used as payment though you can and there's no such thing that prohibits us from using bitcoin as mode of payment. It will always depend on the person using it, wise people won't use it as a payment especially when the price was low.

[Sled]

The bitcoin shouldn't be used as a a classic currency anyway, do you buy your bread or your coffee with gold?
Moreover that's true that the volatility of the cryptocurrency makes it actually unsuitable to be a real currency that your shops could accept.

Because of the changing value of bitcoin it is not suitable to be used as payment though you can and there's no such thing that prohibits us from using bitcoin as mode of payment. It will always depend on the person using it, wise people won't use it as a payment especially when the price was low.

It is better to still use the fiat money rather than using bitcoin as a mode of payment because bitcoin requires a higher fee compare to the normal way of paying money to someone or transferring money from one person to another. We should just wait for other altcoins to be created which is suited or created for payments because bitcoin is not totally made to become a payment.

[onaiwusun]

He is correct,one of the chief characteristics of money is that its stability.Bitcoin at the moment is not that stable for now,so it is more of an asset than a currency

[onaiwusun]

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?

In any case, the use of bitcoin as money is difficult because of its high volatility. Many commercial structures first began to take bitcoin as a means of payment, but then abandoned it precisely through high volatility. It is also possible that the absence of an appropriate legal framework for its use has also played a role here. After the legalization of the crypto currency, most states will see whether bitcoin can be used as a means of payment for doing business. Citizens in any case will use bitcoin as money.

Yes,the individual's use of bitcoin as a currency bears significant risks and are pure based on speculation. Many merchants will decline its acceptance when there is fear of imminent crash in price

[Yurkov]

It is true. better digital currency used as a tool for investment like stock in general. crypto value is very changeable and can fall to zero, so it is not possible to be used as money or local money. because it will cause losses for the owner of crypto if used as a means of payment.

That is in some kind a good answer cause normal money is not stable too but its pumps and downs are not that big as in crypto, in future prices of coins could be more stable cause whole amount of btc will be mined and there won't be more parts possible to purchase, future will show us.

[Bitfling]

The bitcoin shouldn't be used as a a classic currency anyway, do you buy your bread or your coffee with gold?
Moreover that's true that the volatility of the cryptocurrency makes it actually unsuitable to be a real currency that your shops could accept.

In some country like japan, we can using bitcoin as payment in restaurant. But i prefer using fiat money for payment because its more practice and bitcoin is too valuable if we are using for payment

[rossr1]

Thought interesting, but real. If you look now at exchange rates in different countries. They are similar to crypt courses. Some fall and others are strengthened. Therefore, I think his opinion is not true for the reality of the future.

[tothanhtuan]

My guess is there will be a merging of crypto and modern banking. It may take awhile and come at some cost but the final way forward hasn’t even been seen yet. Bitcoin may not even survive. Xerox Parc had to exist and die before what we know as modern technology. Blockchain will likely see a similar adoption cycle.

[Magiklair]

When discussing the market, crypto currency is very often paid attention to its high volatility. Is volatile crypto currency an unavoidable problem for everyone who wants to invest in crypto-currencies? Or is not it all so scary? I think that dollar is also volatile but it is used as the main currency.

[ttking]

Often, positive and negative factors overlap each other with a small time difference, resulting in fluctuations in the rate. They are heated by trading games, when players purposefully try to lower or raise it.

[traderethereum]

it is hard to use cryptocurrency with volatility for using money because the exchanges rate will always fluctuate and it will make the products price always changes too. maybe we need one cryptocurrency that will almost stable every time so we don't have to worry if the price decreases too deep or increase too deep. I think it will be like a USD in the fiat currency that will be for adjusting for the other currency in the world.

[strelkov]

This is true, it applies especially to small items like coffee or food. No small restaurant will accept these as it can cause huge fluctuation in their profit.