A cryptocurrency with volatility can't be used as money

[dewi91]

Yes I think so, it's difficult to used bitcoin for daily life because to use bitcoin is not as easy as to use fiat. We can use fiat everywhere and everytime but we can't use bitcoin everywhere like fiat especially in the regional without internet access because in my country there are still many areas that can not access the internet

[Idrisu]

Volatility is the major complain governments are having again bitcoin outside scamming activities!  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.

[ribm4]

I seem no point against it to take it into debate. Thats totally true.

[toolucky98]

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 its trus and reasonable actually, i just think that when the bitcoin and altcoin are widespreaded, thats the time where the fluctuation will decrease.

[isetter]

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 with this opinion. Electronic money can not replace cash. If one day the electronic money goes up and the price of the product increases. That is not fair to everyone

[Zandra]

Volatility is the major complain governments are having again bitcoin outside scamming activities!  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.

Being of volatility is a good to do trading but to be a money like buying foods, clothe or car are not.
CryptoCurrency is the most attractive putting an investment to gain more profits.

[geegaw]

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?

Real estate has its own market value but i dont think that fluctuation of bitcoin will affect its value. If you bought a land worth 10K usd when prices of bitcoin is high then it would always be worth 10K if prices of bitcoin is low.

Your comments are very reasonable, using bitcoin to buy a house is the agreement between us and the seller, at that moment, the value of the house is still based on dollars, we pay according to the ratio between bitcoin and dollars. That means that the value of the house does not change based on the value of the bitcoin, so in theory, we can use a currency with volatility as money but this does not fit the reality when the ratio between crypto and dollars is constantly changing, transactions will become very troublesome and inconvenient, sometimes we will feel unfair in some situations

[ahmad21]

 I agree that cryptocurrencies cannot be used as main currency because of its high volatility. But your example is quite insensible. How that makes a difference if you buy you flat for Bitcoin or money. Even if you buy it for Bitcoin, the flat’s value will remain same. It’s the Bitcoin which can increase or decrease in its price. For e.g. if a flat is for $1000 then taking the value of Bitcoin to be $100, you need to pay 10 BTC for it. If value of BTC increases to $1000 then you have to pay 1 BTC for it. You see that value of flat remains the same in terms of dollars. It’s just that now Bitcoin is becoming more expensive. But anyways, the facts remains true that Bitcoin can never acts as prime currency.

[BartS]

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?

All currencies around the world are being used as a currency and as a way to speculate with them, when those currencies were backed by gold there was no point in speculate with them because all the currencies were backed by a certain amount of gold, but now that no longer is the case and every single currency fluctuates depending on other currencies then you can speculate with them and that's how the forex market was born, so what you're saying doesn't make a lot of sense we know the dollar is just a currency and it is used as a way to speculate with other currencies and yet is used all over the world, if bitcoin is widely adopted its volatility will go down and so we will be able to use it as both.

[Dncer]

Thanks for your many answers guys. I got differents ideas wich develop my mind.
I see that crypto has to do a long way until it can be used very easely and without complications.

The second thing I see is that crypto will probably never take the place of fiat. It will certainly be two different systems in the futur. But one won't eat the other one I think.

[dupee419]

To be quite honest with you, I think that every cryptocurrency has its own volatility level, there is no currency that hasn't or has been clean of volatility, as a matter of fact all currencies are being used as money, it is being spent on, so this is a clear statement that your topic is very wrong.

[doomloop]

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?

at the present moment, it is not possible for bitcoin to be used as money or governments are not allowing so but still there are many companies and websites that actually accept payments plus donation in the form of bitcoin and bitcoin cash. If have not checked for ethereum or other coins but if believe they are also being used this way. However, it is investors who are not willing to spend their coins at the moment because of high profits these can give.

[hsyncl]

That's what I've been defending since the very beginning. Bitcoin is no longer available as a currency or transfer tool. Now the only thing to do with BitCoin is to take and save it as an investment tool. Deciding how to increase your investments. It is very wrong if you think you can still shop with it.

[ivrynx]

I think we can still use crypto currency as money for our daily needs, we just need to take out fiat, the reason why people say that the price is volatile because there is still an equivalent to fiat, remove it, we  have a stable currency. But as of now, we still have to consider fiat, and I agree that there will be a conflict when we used a high volatile asset as currency, since bitcoin is now considered an asset more than currency because of the value, there will be times that both receiving end and sending end will gain more or loose more in terms of converting it to fiat, but without converting it to fiat, the payment in form of crypto currency is correct.

[kidamazo]

Yes, it is quite as mine opinion, but who knows, maybe as main payment method we would use more stable coin, than Bitcoin, huh

[Dissident991]

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 is true, volatility is so strong that no one seller will can set the prices of their goods or services correctly. They will need to monitor continuously exchange rates, and even then it is not possible to keep savings, too easy to lost it if btc price will go down.

[Thian778]

That's the use of blockchain and some platform to help new establishment or new businesses or people who just enter the world of crypto, ICO project can help them to adapt on the daily changes of their prices and help them to ignore the volatility that causes the problem not to use it.

[Yamifoud]

That's what I've been defending since the very beginning. Bitcoin is no longer available as a currency or transfer tool. Now the only thing to do with BitCoin is to take and save it as an investment tool. Deciding how to increase your investments. It is very wrong if you think you can still shop with it.

It is mostly considered as an investment tool that of being used a s a currency in different transaction. Yet, isn't accepted by today as a mode of payment in mostly all existing establishment. It is getting considerable to have a high volatility which could affect the trust from business owners to adopt this form of currency.

[d1ceplayer]

Dude, I’m a little bit confused with this lol. What does he mean that a currency with volatility can’t be used as a currency by any country? Dude WTF! 😏😆 Is there any currency in this world that is not volatile? Every currency in the world are volatile. Take for example dollar to euro can’t maintain the same price forever, they will always fluctuate, either that dollar goes up against euro or it goes down. Such fluctuation is being caused by how much that comes in and out of the country at the moment. I don’t know if this man you mentioned is still a novice or what?

[rainezerr401]

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?

Its true that you cannot really use a currency without a stable price and that is the reason why most of the governments does not really like to use cryptocurrency for their own people its because they cannot control its growth in the market and there are business that might be overwhelmed in the future.