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Author Topic: A cryptocurrency with volatility can't be used as money  (Read 2222 times)
Caotodoxunir
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September 09, 2018, 03:30:31 AM
 #521

If fiat would have been like this then I am pretty sure that economy of the whole world could have collapsed in matte of seconds. I mean fluctuations can cause the prices of stuff around us go crazy, we would have never put a price tag on the candy bar as we would not know whats the value of same currency next day with which we gonna buy it. Dont you think that this is the case.
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September 09, 2018, 01:46:53 PM
 #522

If fiat would have been like this then I am pretty sure that economy of the whole world could have collapsed in matte of seconds. I mean fluctuations can cause the prices of stuff around us go crazy, we would have never put a price tag on the candy bar as we would not know whats the value of same currency next day with which we gonna buy it. Dont you think that this is the case.

Once bitcoin reaches or almost reaches the cap and mining no longer makes sense in a profit sense, I think the volatility will either die down completely or almost completely... After that point, bitcoin will go up or down in linear fashions long term.

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September 13, 2018, 08:11:50 AM
 #523

Price has to be stable if governments who is the major player can adopt cryptocurrencies.  Many people have said good things about cryptocurrencies but the reason why they could not used it is because of the volatility.
Nnedaddy1
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September 13, 2018, 08:21:51 AM
 #524

I agree completely.

For cryptocurrency to be used as money, it must be stable . It is the stability that will make it function as money easily.

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Robbio
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September 13, 2018, 08:25:46 AM
 #525

Volatility is only temporary, the cryptocurrency has only just appeared for ten years, and it takes another ten years to stabilize. It is unstable now and there are many investors. You don't have to worry about cryptocurrencies becoming expensive coins.
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September 13, 2018, 08:37:04 AM
 #526

I think this is no different from fiat money, even when compared to bitcoin, the depreciation of fiat seems to be worse than bitcoin from the past to the present

GreenRydia
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September 13, 2018, 08:44:26 AM
 #527

I get your point that a currency with volatility is not suitable as a currency for our daily needs. Yes it doesn't affect the price of the item you bought when the Bitcoin price goes down but then the profitability of the items will decrease since the merchants are also using Bitcoin to buy the things they sell.
XiXiMios
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September 13, 2018, 08:56:16 AM
 #528

Crypto currency with its high volatility can be used as money, but not as basic, but along with the circulation of ordinary national money of the state. Parallel circulation of the crypto currency can not cause damage to the country's economy by its volatility, since the planning of the economy, the price of goods and services will be indicated in the national currency.
Phophobobooo
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September 15, 2018, 09:13:07 AM
 #529

If there is some part of the world who wants to use the crypto currencies instead of the paper money in their daily usage, then they will plan the things accordingly. I am in very much favor of this thing that such things can happen and that they should happen to make this world much better place and economically stronger.
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September 25, 2018, 06:21:13 PM
 #530

The crypto is the currency but not the money. The author is absolutely right - as soon as it is very volatile, it cannot be used as traditional money. I guess, no one will agree (for example) to get his salary in altcoins or Bitcoin now.

Koenraad Lange
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September 26, 2018, 01:58:48 PM
 #531

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.
I think after bitcoin is converted into paper money, that is the exchange rate agreement between the seller and the buyer. That is, the exchange rate used at the time of exchange cannot be debated whether the price then rises or even falls which is part of the business. Fiat money has no problems, but the value of bitcoin is a problem, when exchanged with fiat money will be profit or loss.
denuhaqiqi
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October 14, 2018, 05:35:04 AM
 #532

Crypto currencies cannot be used as real currencies like fiat, due to their volatility and scalability. research is needed first, to take into account its advantages and disadvantages. fiat is still needed.

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