A cryptocurrency with volatility can't be used as money

[siracunas]

Of course it can't. Though for person to person transactions and exchange, it's applicable. Both parties should be aware of dealing with a volatile value exchange and if both are i agreement then it shouldn't be a problem.

I concur that a cash with high instability can`t be utilized as cash. Be that as it may, on account of the digital currency, which has numerous different points of interest, and which individuals need to use as cash, this issue can be tackled. One conceivable answer for the issue of unpredictability is to attach the digital currency to gold at a settled rate. This will require the accord of the crypto network and the support who is prepared to make the physical gold market at a concurred cost in the crypto. This sort of crypto, sponsored by gold, may even turn into a worldwide hold cash, particularly on the off chance that it was bolstered by the nations who are searching for courses out of the flow dominion arrangement of the USA dollar.

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[checkmatesir]

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?

Yes it cant be really used as a currency because of its volatilite price and the volatility is also the reason why cryptocurrency is very profitable today, there is so many use for crypto and not just  a currency.

Yeah it is right that most people do not use their cryptocurrency because of the volatility. They do not understand the actual price because the change in the price every day, and I think this situation will continue till the whole world start using crypto as their regular currency and there is no exchange rate for any crypto, then everyone will use it whiteout any hesitation.

[Bitlife81]

Real state,Gold and other assets price also fluctuate,If you buy a flate and you using it at least 2 year you already recover your money and till now it is seemed Bitcoin price increased.

[nightways]

Real state,Gold and other assets price also fluctuate,If you buy a flate and you using it at least 2 year you already recover your money and till now it is seemed Bitcoin price increased.

The only problem which almost all of the crypto currencies have to face when it comes to that of using as regular currencies is the fact that the government is not willing to legalize these currencies and that because of which, there are not so many places which are offering this facility of being used as mode of payment. Things can be better in the future and that we can rely on these crypto currencies too.

[deejayce48]

I am thinking about this also. How will Bitcoin be of use when its price is too volatile. But I realized that when Bitcoin becomes our currency, I think its price will stable since there is no buying and selling of Bitcoin. The only thing that affects price is when someone buys or sells Bitcoin.

[voztata]

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?

There is no cryptocurrency without volatility, all of them are volatile and that includes Bitcoin, EthereumMonero, Zcash or is it Mcash, Ripple (XRP), Bitcoin Cash, Litecoin and every other coin/altcoins in the market. I even think that altcoins are worst than Bitcoin, cause people tend to abandon them and go into Bitcoin at a certain time, especially when there is a rush and after everything seems to have settled, they go back to investing in them again.

[coinfinger]

I am thinking about this also. How will Bitcoin be of use when its price is too volatile. But I realized that when Bitcoin becomes our currency, I think its price will stable since there is no buying and selling of Bitcoin. The only thing that affects price is when someone buys or sells Bitcoin.

Some of you makes funny comment sometimes. Bro who told you that Bitcoin was going to be your currency? And by the way, you better know that Bitcoin is not going to stop being volatile, it’s a cryptocurrency, so what were you expecting before? It will continue to be volatile even when all are mined up. Bitcoin is not going to be any currency, it’s for making payments and can also be an investment, if you can’t accept that, then I have nothing else to say.

[cryptokia]

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?

Actually it seems logic, the things that you're saying here, but we can also develop and invent some other ways to avoid that volatility of cryptocurrencies and still use it as a regular payment method.

[valentine401]

cryptocurrency with volatility can be used as an asset rather than money but still, most of the merchants are using it as money and payment processor which is a good move for cryptocurrency industry

The volatility is necessary in order for people to earn profit from trading and that is the reason why most of the investors are getting rich by just focusing on the market by trading daily.

[Deubila]

I am thinking about this also. How will Bitcoin be of use when its price is too volatile. But I realized that when Bitcoin becomes our currency, I think its price will stable since there is no buying and selling of Bitcoin. The only thing that affects price is when someone buys or sells Bitcoin.

Increasing or decreasing bitcoin is due to the market pouring in or selling out. New to create certain ups and downs, and that is the key factor of the market. To make a profit on your investment, you should have a clear plan to win.

[Rj Manik]

the particular volatility with the industry can have an effect on cryptocurrency plus it may well be the explanation of bitcoins never to provide being a fiat for each and every region nevertheless the edge will be in which, the particular volatility can can be utilized so that you can make a lot more income.

[Vsamuel]

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 think all currencies are highly susceptible to market price volatility. For example US dollars sometimes appears to appreciate or depreciate against other global currencies in the market. That does not make it impossible to trade with. Moreso, it does not imply that my shoe that i bought at 25$ equivalent to 112.5 cedis, when a dollar was 4.5 cedis, will lose it value when the dollar depreciates to 3.9 cedis. Reasons are that my shoe will maintain it fix asset value no matter what happens to the dollar against global currency

[Ranly123]

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 thinks that, what Klaus means is a volatile currency cannot be used as a regular one like Fiat. As we know that cryptocurrencies are all volatile, so it only means that we cannot rely on it to become one of the Fiat currencies we used everyday.

[bilyboy]

volatility of the cryptocurrency is the reason why we cannot use it as a money for the entire world but i think that government can do something like stacking the price into highest value so we can use it daily but the down side, bitcoins will not be profitable since the price wont go down anymore.

[sngwinner]

The volatility of cryptocurrency is a major concern to every crytpo enthusiasts and we know that it is a major hindrance to mass adoption. However, I think the example use gave is not applicable.

[renggileh]

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?

Bitcoin's main goal is to become a world currency, but it has failed the main factor as you mentioned. and another limited amount of only 21,000,000 and that is impossible for the whole world.

[sheryl26]

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 think yes it cannot be because whenever that the price will fall down it is hard to buy things that we wanted to buy because if our money is just right for yhe price and then all of a sudden you it falls then you will wait for it to rise again before you can buy the thing you wanted. So it is much better to stay that way because in that case they can live peacefully without people complaining about that happening.

[kate.poisonglen]

It's not only about volatility. Scalability is another major factor that prevents cryptos from mass adoption.
Bitcoin can handle only 7-8 transactions per second. Now compare it to 1,600+ tps on VISA (or how many do they have by now).
The more people start using btc as a payment, the slower will be the network and the higher will be the fees.

[patispace]

I totally agree, because under the current conditions of volatility the only practical use that Bitcoin could have would be its use as a means of payment to replace the current inefficient and expensive payment processors.

I am convinced that those who dare to use Bitcoin as money or as a long-term investment, will have to learn to continually deal with this high volatility because its defended decentralization makes bitcoin an easy prey for speculators without the possibility of any regulatory intervention.

[ufaiz50]

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?

All items that have value can be the money from the recipient who wants to deal with that currency, even for digital currency, though as you said that the currency which has fluctuations is not recommended for payment instrument transactions like FIAT, experts also say that because rapid changes in value will increase the risk on both sides. Fluctuations cannot be separated from cryptocurrency, I think the need for great renewal if want to get accepted as money, which I mean to transact life needs.