A cryptocurrency with volatility can't be used as money

[VentureHero]

Can the less volatility in Ripple be a major reason why banks are adopting it against choosing the bitcoin or even litecoin?

It has nothing to do with Ripple being less volatile than other crypto currencies, because it simply isn't less volatile. Ripple is a centralized crypto currency that technically allows transactions to be reversed.

All aspects of Ripple make it an interesting option for banks and certain financial services, but it has no real use and utility with how governments will tie their own fiat currencies to a token running on their blockchain.

Ripple is nothing more than a get rich scheme with the insane premine that's being kept hidden from the public, but it doesn't really work in their favor. It's one of coins heavily being frowned upon by the crypto industry.

Agree. What do you think about XLM?

[John Joseph Mago]

You are somehow trying to bring out issue to ponder here on the volatility of Bitcoin. But thinking about it critically, you should be able to understand that the price of Bitcoin at which an estate is bought does not really affect the physical value of that estate at a later date.

[Wagako]

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?

Since bitcoin doesn't stable therefore the price varies. With this situation I think if we accept bitcoin as our means of  payment then we should also accept that the value of something we bought through bitcoin should not be stable like bitcoin. But for me its not about the value of bitcoin but it's the value of something you bought is the most important so that even though bitcoin go up or down still the value of that thing is stable.

[DiabolicAnt]

I disagree with such point of view...It's not a problem at all to adjust everything in real time.

[Finestream]

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 is true, A crypto currency with volatility cant be used as money. Maybe If the crypto is more stable, They can be used as money.

I believe so.If a cryptocurrency continues to have a high volatility,i think it won't be considered money for a payment system.It will only be accepted as a payment system once its volatility will become stable and it will be adopted by the government too.For now,if you want to purchase something through bitcoin,you may convert it to fiat first.

[PM.coins]

Let's ignore the real estate value of your apartment and assume it has a fixed price; it means that you bought it for $10,000:
In 2013 considering that the value of the Bitcoin $ 100: you need 100BTC to buy an apartment.
In 2017 assuming that the value of the Bitcoin $ 1000: you need 10BTC to buy an apartment.
Today, assuming that the value of the Bitcoin $ 10,000: you need 1BTC to buy an apartment/flat.
I agree with you that the price of the Bitcoin is variable, but it tends to go bullish that means its value increases over the days than paper money.

Yes, I strongly agree to this opinion. Price of an apartment will fluctuate based supply and demand; simply say as market price. Apartment is a physical asset that has a market value or price in the market and that is reasonable or acceptable. A crypto currency also has a market value or price that fluctuates anytime in the market with no physical asset behind it. This condition is really the same as fiat money today used but its value is more stable. When cryptocurrency has been accepted formally and globally, its price will be more stable and can be used as currency like fiat money. Economic transaction can be done based on exchange rate accepted by parties involved in it.

[potterbean5]

I dont think btcs can fulfill  the double demand. One side is asking it to be used as currency and other as stock. How can it be stable then?

[EnricoGomez]

You can use volatile cryptocurrency to buy or sell.
Though in the sellers' part, you do need to consider the effort afar from selling the product but as well as to manage your earnings effetively and not to mention that you have to constantly change out prices according to the value of cryptocurrency. I do not think that there will be a loss on the sellers' part if only he has an adequate amount of knowledge. Cryptocurrencies are the future so why not.

[hsyncl]

At first, everyone thought that bitcoin could be used as a transfer tool. But it was not possible to use it as a transshipment tool as bitcoin I had voiced at that time was so volatile. Crypto can now only be used as an investment tool. I do not think it will be possible. It will definitely lead to damage on both sides already use as a tool. It would be foolish to see it now. The only thing to do is to invest and use the winners as a transfer tool:)

[Biscutard]

I am sure there's something missing in the line here both digital and physical are different in any aspect, so they can't just say so that they can't use bitcoin because it has a volatility. So, therefore any other currency that has a volatility can't be used either. Every money in our country is being counted so it is being traded via local and international countries therefore it has a volatility. I don't what's the missing part but i'm sure there is a continuation to his statements.

[Ishiro5]

The extreme volatility of bitcoin though very understandable is a major stumbling block to mainstream adoption, though we understand that these price volatility activities are not completely immune to manipulations, we probably would not see mass adoption as we envisage until this settles somehow.

[hygroscopicgymnasium3]

yes ofcourse no doubt in the statement. Atleast I don't think there are any.

[nazaididuan1]

Encryption currency can be used for investment, but its function as a medium of exchange is limited, the inherent instability makes the value stored and the role of the unit of account still exists leakage, it is difficult to replace legal tender!

Without price stability, cryptocurrencies could be difficult to achieve widespread and widespread adoption.

[PX-Z]

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 totally agree with this article, it could be very hard for a currency like cryptocurrency specially bitcoin that having a high volatility to become a money. Because of its uncontrolled market value, that even the government can't control of it.

[laravuemaster]

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 cant be really used just like the normal fiat of a country because the market is volatile but still other online stores are still allowing it due to the price in the market that is very profitable.

[romero121]

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 totally agree with this article, it could be very hard for a currency like cryptocurrency specially bitcoin that having a high volatility to become a money. Because of its uncontrolled market value, that even the government can't control of it.

Yeah, something volatile cannot be used as money similar to that we use. But, there are firms that were accepting bitcoin as payment and for different services. This is a possible thing, and for the same there are service renders who accept bitcoin from the user and pay to the vendor in terms of fiat. Here for the intermediary service render volatility is not a big concern.

[udanemas]

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 is true, The crypto currency with volatility cannt be used as money. The price must stable, the demand and supply is more balance.

[Sled]

For a regular basis money then cryptocurrency cannot be used as money but if you are just using bitcoin for making big purchases like buying a house, car or an item then it is still good for you to use cryptocurrency because they are safer and they are faster and more convenient to use in making payments unlike the fiat money.

[zhanghoqi5]

Government regulation, security, lack of application scenarios, availability, fraudulent refunds and other factors also hinder the use of cryptocurrency. Only if these issues are resolved will the cryptocurrency really move to a wider range of ordinary users and payment scenarios.

In the long run, the rapid development of the mobile payment market will provide more application scenarios for cryptocurrencies such as bitcoin.

[jhongzjhong]

Government regulation, security, lack of application scenarios, availability, fraudulent refunds and other factors also hinder the use of cryptocurrency. Only if these issues are resolved will the cryptocurrency really move to a wider range of ordinary users and payment scenarios.

In the long run, the rapid development of the mobile payment market will provide more application scenarios for cryptocurrencies such as bitcoin.

Yes, but not use for daily basic needs. We can be used bitcoin as a payment through an internet across the whole world but when it comes to daily usage we could not. Just like here in forum bitcoin signature campaign participants will receive bitcoin as a payment so it is also used by others by paying bills.
Time to time, this technology will priority used by people because of handy and secure to all users, unlike fiat.