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Author Topic: A cryptocurrency with volatility can't be used as money  (Read 2225 times)
Scripture
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August 17, 2018, 01:51:25 PM
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Are you pertaining to the inflation rate where the purchasing power of money decreases over time?. Example is that when you have a dollar you can buy a lot but now its just the same value of a candy. This is different from cryptocurrency's volatility. Its half investment either so its normal to fluctuate.
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August 17, 2018, 03:06:44 PM
 #502

cryptocurrency volatility is very unstable to use as currency at the same time still merchants are using as currency in various parts of the world which is positive sign for the industry
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August 18, 2018, 08:38:21 AM
 #503

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?
Is there any cryptocurrency without volatility? Every cryptocurrency in the market fluctuate up and down and they all can be manipulated. I don’t know why people are fond of saying this in a way that Bitcoin is the only cryptocurrency we have that is volatile, they never mention other ones like Bitcoin Cash that is also very volatile, including Ethereum, Litecoin, Dogecoin, Ripple and all of them out there all volatile.

The guy who left this post here was interested in something different. He asked if Bitcoin, being so volatile, could be used as the money. My answer is no but it is the coolest currency to work with it online and earn on it.

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August 18, 2018, 09:48:22 AM
 #504

I don't think that you are right because cryptocurrencies are already used as money and the process is developing successfully. Of course, if volatility will lessen it will be better, but it is already a decent system.

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August 18, 2018, 11:09:43 AM
 #505

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?
You are wrong! The bitcoin is too volatile and it can still be use as a money. Even the price of bitcoin is unstable, its users is continuing to use it because it is user friendly and it is convenient. 

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August 18, 2018, 11:17:02 AM
 #506

Well, while you state that crypto is already extremely used all over the world and in many factors it is way more convenient than traditional money.

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August 18, 2018, 11:34:58 AM
 #507

but cryptocurrent can be use for transaction. cryptocurrent need fiat to be their price's reference, it make 'how much you need to pay' for some stuff that you take.
but, if some country make cryptocurrent for theirself, than decide the value like their fiat it is possible. but it just allow in their country, if they want to make transaction across the world, they need to adjust with dollar or the other currency.

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August 18, 2018, 11:59:10 AM
 #508

right,it is true that the current crypto currency can not be used as well as paper money in general. because I think in addition to its volality of crypto currency of course the price fluctuations are never stable. so obviously it would be very difficult to make currency for the transaction.
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August 18, 2018, 12:02:18 PM
 #509

Volatility can actually become a stumbling block for approval by SEC of the decision on Bitcoin's ETF.

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August 18, 2018, 12:23:04 PM
 #510

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 do agree but pundi x could make it a bit simple. Merchants who got paid with bitcoin will able to convert it immediately into fiat on current price, i think it do help merchants to accept crypto but still i do agree its too volatile and for me i would not want to buy something with my bitcoin when i still think the price will increasing.

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August 18, 2018, 12:25:16 PM
 #511

but cryptocurrent can be use for transaction. cryptocurrent need fiat to be their price's reference, it make 'how much you need to pay' for some stuff that you take.
but, if some country make cryptocurrent for theirself, than decide the value like their fiat it is possible. but it just allow in their country, if they want to make transaction across the world, they need to adjust with dollar or the other currency.
i think for now bitcoin is only an additional facility for transactions. fiat currency cannot be replaced. besides that it takes a long journey to be accepted by all countries

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August 18, 2018, 01:21:18 PM
 #512

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?

That's funny, a lot of people still didn't know how different crypto was compared to normal money. First of all a lot of discrepancies will apparently arise when you compare two different things. This isn't an issue anymore. However, still a lot of people are acting like they are new here in crypto world. Lastly, even though bitcoin and those alts  aren't effective as a normal money there are a lot of benefits are being present to them that will surely make our life different from our traditional practices.

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August 18, 2018, 02:40:12 PM
 #513

but cryptocurrent can be use for transaction. cryptocurrent need fiat to be their price's reference, it make 'how much you need to pay' for some stuff that you take.
but, if some country make cryptocurrent for theirself, than decide the value like their fiat it is possible. but it just allow in their country, if they want to make transaction across the world, they need to adjust with dollar or the other currency.
i think for now bitcoin is only an additional facility for transactions. fiat currency cannot be replaced. besides that it takes a long journey to be accepted by all countries

It's not time yet. And this market still has a long way to go so saying it can't be used as money is judging it a bit too early. Of course we have to consider the volatility of it that makes it hard to use same way as fiat but it has features that make transactions a lot easier and people are looking at it more as an investment or an asset.

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August 18, 2018, 03:17:44 PM
 #514

I think a cryptocurrency with volatily can still be used as money since it has a value which can be traded or to buy a product.



I think if you buy goods with bitcoin and whenever the price of bitcoin goes down, items purchased with bitcoin will not go down. simple, the price of goods or fiat does not depend on the price of bitcoin itself.
actually I'm not too familiar with your question, man! we all know that the value of bitcoin is designed to fluctuate
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August 18, 2018, 03:46:31 PM
 #515

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, people will thinking twice to buy something if they know their currency will increase in future or maybe decrease, one party will get a loss if their currency volatile.
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August 24, 2018, 09:25:53 PM
 #516

It is true, the current condition of high volatility in the cryptocurrency market makes them very little useful as a store of value or as currencies. Personally, I have only been using bitcoin as a means of payment, since from my personal experience it fulfills that function quite efficiently, compared to more conventional methods such as PayPal or Skrill.

However, I do not believe that the current condition of volatility will last forever, and as the market grows and matures, it will be gradually difficult to see the current high volatility scenarios, with bitcoin tending to behave like fiat currencies in the long run.
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August 25, 2018, 12:23:49 AM
 #517

Are you pertaining to the inflation rate where the purchasing power of money decreases over time?. Example is that when you have a dollar you can buy a lot but now its just the same value of a candy. This is different from cryptocurrency's volatility. Its half investment either so its normal to fluctuate.

Some peoples hiding the fact that inflation always decrease our money value. Inflation always happen on fiat because central banks always print money to boost economic growth but fiat money always losing purchasing power

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August 25, 2018, 02:22:53 AM
 #518

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?
Is there any cryptocurrency without volatility? Every cryptocurrency in the market fluctuate up and down and they all can be manipulated. I don’t know why people are fond of saying this in a way that Bitcoin is the only cryptocurrency we have that is volatile, they never mention other ones like Bitcoin Cash that is also very volatile, including Ethereum, Litecoin, Dogecoin, Ripple and all of them out there all volatile.

The guy who left this post here was interested in something different. He asked if Bitcoin, being so volatile, could be used as the money. My answer is no but it is the coolest currency to work with it online and earn on it.
Nope, I think if bitcoin can't be used as a currency, why are there many merchants who have used bitcoin as a payment option? isn't that a function of currency? they have a system where bitcoin will be converted to fiat so that fluctuations will no longer apply for them..

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August 25, 2018, 04:06:40 AM
 #519

Are you pertaining to the inflation rate where the purchasing power of money decreases over time?. Example is that when you have a dollar you can buy a lot but now its just the same value of a candy. This is different from cryptocurrency's volatility. Its half investment either so its normal to fluctuate.

Some peoples hiding the fact that inflation always decrease our money value. Inflation always happen on fiat because central banks always print money to boost economic growth but fiat money always losing purchasing power

It was normal for inflation to happen since cryptocurrency is increasing its demand in the market and that is the reason why you should invest a huge amount today, in order to earn more profit in the future.

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August 25, 2018, 04:18:51 AM
 #520

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 my opinion, the issue about cryptocurrency being volatile is only because it is not being used as the worlds currency like our  current fiat system today, once cryptocurrency is the one being used as our worlds currency then I believe this issue about cryptocurrencies being volatile will be gone.

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