A cryptocurrency with volatility can't be used as money

[Crypto Sway]

Can you please provide a link for this newspaper? I'm interested in reading it, thnx.

[Crypto Sway]

This is an interesting dichotomy. Thankfully for the crypto community, BitCoinage is creating the first arbitrage exchange with the aims of lessening volatility so that crypto in general can be used in a monetary form as well as bring in many people who are simply afraid of investing in the market bc of volatility. Take a look here, what do you think? https://bitcointalk.org/index.php?topic=3085831.0

[Kevin77]

in fact I'm not too familiar with your question, man! we all know that the bitcoin value is designed to fluctuate, if you buy goods with bitcoin and at any time the bitcoin price goes down, the goods purchased with the bitcoin will not go down. simple, the price of the goods or the fiat does not depend on the bitcoin price itself.

Apparently, and I am not sure where he must have gotten that news from or that logic from. I can bet there is no news except something he just decided to form in his head which is totally unreasonable.

You buy something worth of $10 equivalent of bitcoin, this purchase has been made and if bitcoin value reduces, you will even end up having more bitcoin if you are to sell that stuff back at that $10 rate which makes the whole sense of the value of what you have purchased reducing with bitcoin value. The only person who is going to be at risk here is the person who sold the stuff when considering the short term fluctuation to the downside.

[yoseph]

This is an interesting dichotomy. Thankfully for the crypto community, BitCoinage is creating the first arbitrage exchange with the aims of lessening volatility so that crypto in general can be used in a monetary form as well as bring in many people who are simply afraid of investing in the market bc of volatility. Take a look here, what do you think? https://bitcointalk.org/index.php?topic=3085831.0

In what ways is that project going to help lessen the volatility of bitcoins, No one will want to accept bitcoin as payment unless they themselves are ready to accept the risks thereof.

[supercanada1]

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?

We can say that all money like dollar is volatile, but other currecies are much less volitile than the cryptocurrency. So we cant say that cryptocyrrencies cannot be used as money.

You may be right but I think so that if the government takes certain interest in doing such kind of thing, then there are likely chances of this thing to happen and that this will no doubt make this world a better place to live. In addition to this, it will also help the people in meeting all their needs without keeping anything in their wallet and that they can use the crypto coins both as an asset and currency.

[Mojo2012]

Can't agree more. Society will never accept it as a mean of payment under current level of volatility. It just crosses over all the other advantages, because you lose money for nothing and take risk. That is not for everybody.

I think the whole cryptocurrency bubble has to explode, result in a total loss of money for those speculating with it, cleansing the whole cryptoworld of people just greedy for money.
Then it can start fresh, based on the leftofter technology. Eventually it will prevail over fiat money.

[ArteMixer]

Fully agree on that, as bitcoin is not supported by anything it is destined to be volatile and there is nothing really to do about that unless something is massively changed.

[elkafee79]

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's true. If the crypto is more stable , I think it can be used as money. maybe in 2019 the crypto currenccy will be stable. I hope it.

[Salesman4coinZ]

I think thats right. I dont think that you can use bitcoin as a daily payment method. First of all beause of the volatility. But even because of the technically site. So when i think about when i was a reseller, and always have to change the price everyday because the currency i used is that much volatile, i think i would go crazy. And you cant change the price all over the day, because to volatility of bitcoin is on some day so crazy, that something you sell would be in the evening like 50% more expensive then in the morning.

[dekafee79]

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, A cryptocurrency with volatility cannt be used as money. If the crypto is more stable, I think it will be used as money. maybe in 2020 it will happen.

[19spawnfeed]

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, A cryptocurrency with volatility cannt be used as money. If the crypto is more stable, I think it will be used as money. maybe in 2020 it will happen.

The volatility of the cryptocurrency is one of the characteristics itself. It will consider as a money because you can used this cryptocurrency by buying goods and services through online. The volatile of the price cannot be a reason to consider that the cryptocurrency with volatility price is not a money.

[NavI_027]

I definitely agree with the statement of sir Klaus, it will be a bad idea if we will use a volatile currency worldwide because every goods and services fluctuates also in accordance with the current price of that currency. Seems unfair right? Imagine that I bought a food at cheaper price but there's a chance that you can't do the same way due to price inflation or else you are willing to wait to come back in its cheaper price. I'm sure that you cannot wait very long for that one because food is necessary for us.

I'm not saying that it's a bad idea to replace fiat with crypto (btc to be more specific) because it is possible. Assuming that mass adaption happened for btc, it will not become volatile anymore but now become as stable as an ordinary fiat; the only difference is that we now have a much "hi-tech" form of monetary system.

[totaleclipseofthebank]

Hard to know about that. Maybe in the future we will have to use a currency which is totally volatiled. Stable is not always good. Fluctuation can somehow change the world in the most ridiculous way. You have to wait to see what will happen in the future

[jagdeepjd]

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 does not make sense in that way as because the dollar/fiat value is also not stable it also fluctuates though not as much as bitcoin does. But over the time bitcoin will get stable too it is just starting its long journey its gonna take years and developments in bitcoin and the whole market will be much more stable than it is at the moment.

[BartS]

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?

A currency with high volatility can be used as a currency people will just have to adapt themselves to it, you just need to look at what happens when a currency goes through hyperinflation, when that happens people adapt to that currency by spending their money as fast as they can because if they don't do it then they will not be able to buy the same products and services tomorrow, and if people can use a currency like that even for a short amount of time then people will be able to adapt to bitcoin and its movements.

[viyumztf]

I also think that the volatility of the encrypted currency, of course, can not be used as a currency, if both sides agreed on the quantity and price of the transaction, but the price is not stable after the arrival of the goods, the financial difference is very difficult, then the deal is very difficult to succeed.

[rejekitiban]

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, I agree when  the cryptocurrency with volatility can't be used as money. It must be stable. I think when the demand is balance the suplly , it will happen. The crypto will  be used as money. Maybe in 2022, I think.

[0t3p0t]

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?

This seems to me the battle of volatile cryptocurrency and the stable assets like fiat money and real estate. For me the new trend of profitable cureency is cryptocurrency and yes it is obviously not that good as a currency due to it's volatility however it is still a profitable currency for cryptocurrency traders and not intended for buying and selling of goods.

[rabs]

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 and as a rational investor you will sell it when Bitcoin price will high rather you buy it.

[patarfweefwee]

Well, i totally agree. But in a context that a volatile currency can't be adopted. What we want is a stable currency where by it fluctuate less often and less jumps. When that happens, business owners can adopt bitcoin or any crypto currencies in their business as a means of exchange for goods ams services.