A cryptocurrency with volatility can't be used as money

[StarofBTC]

All cryptocurrencies are volatile in price, and they all can’t be used as a currency in any country cause they don’t have the qualities of a conventional currency. Take a look at conventional currencies, there isn’t much volatility when it is compared to another currency of its type, for example – Dollar to Euro.
Conventional currencies are physical money and can either be as a coin or paper, they can also be used electronically or online for an easy transaction from your bank account to another bank with the help of internet and banks mobile app. They have lots of features that makes them much more better than making use of cryptocurrencies and they always taking the lead.

[vidprab5]

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. An example of this is the use of crypto currency in Japan, where in parallel with the national money, it gives profit to the economy of this state.

It is true, I myself won't ever bother to use bitcoin to pay my bills as of the moment since the price is too low, but if the price would be high I will do it.

And that is another reason why Bitcoin will never be used as a money since it is just treated as an asset. Bitcoin became a popular crypto currency because of its volatility, that volatility made a lot of investors invest on Bitcoin since they knew that the price will still go up and it did. Yes, fiat's price are changing but not as volatile as Bitcoin since if fiat moves quickly as Bitcoin's price, that certain country will probably have a problem the reason Bitcoin will never be used as a currency or a real money.

Well I want to discuss this one thing. No one needs to sell his house just for buying bitcoins. Either it is any better source of income or even bitcoins, don’t sell your resources at all just to get something that is not for sure to give back you everything. So better is to make good decitions by going into campaigns and others ways of earning money and then later on just do trading or investing.

[mornabo]

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?

Of course we can't use any currency that is so volatile since people will not be happy if they have the amount of they want and suddenly it drops lower.

I think the disadvantaged is not the seller but we as the buyer, because the seller can only use the autoconvert system to avoid
fluctuations, but buyers as bitcoin holder of course the price changes that go up and down very quickly, may be detrimental to you as a buyer

[wewe123]

That is true a cryptocurrency with volatility can not be used as money because it has no standard of fixed value so business can not circulate with exchange to currency that is variable in price value, so it it is hard to be money.

[maianh09]

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 think this is a correct assessment of the current situation. Bitcoin is too volatile, so if you use it as an official currency, maybe everything will be affected by its volatility. The value of Bitcoin isn't fixed, and if you accept it as a payment, merchants will lose money at any time.

[super5star]

We can use fiat everywhere and every time but we can not use bitcoin everywhere like fiat especially in areas without internet access, it's hard to use bitcoin for everyday life because using bitcoin is not as easy as using fiat

It is just the way of thinking and planning the things. 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.

[sepeda karat]

Yes I agree, With mass adoption and new stablecoin like DAI, it will become less volatile. Also, developments such as ETF and more exchanges around the world will make BTC less stable. Also, I think the whole whiny, too dependent on BTC, its dominance needs to drop like 20%

[ohkkstaaahp]

It is true. A volatile currency can't be used to exchange goods and services in a wide scale because no one will actually adopt a volative currency. But then again crypto currencies are young, very young. We still have time to mske the currency stronger and stabler by holding our coins and buying more. Let's not get hooked up with panic selling our coins when we see a drop.

Yes, if a currency that fluctuates frequently can not be applied to the payment of goods and services in our daily lives. So if the BTC becomes the common currency of the world economy, let's stabilize their prices, maybe in the next few years the BTC will be accepted as fiat money.

[ShitTL]

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 volatile electronic currency that can not be used as money can only be said to be the digital money that we are participating in if we accept them. This also means that we are going to change their course of action. invest

[Ejanend]

So time will come that you need that money but it falls so you need to add much money, are you getting my point. There will be chaos every where, volatility in Bitcoin does not yet have a generally accepted index  that is why it is seen as an asset.

I am not disagreeing with you or anyone who holds this point of view but my question is, does anyone want to see bitcoin becoming stable or is it even the right time for BTC to stick on a specific price? Why are people embracing bitcoin and why everyone wants to become one of the bitcoiner? The reason is its volatile nature which makes big profits possible without taking much time.

[Tylev]

I think that a crypto currency with great volatility can be used as money only if it will walk in the country along with other kinds of national conventional money. Then the high volatility of the crypto currency will not interfere with the others. If the situation requires a stable relationship, go to the national currency, in other cases, you can use the crypto currency. In the future, we ourselves will be able to determine where and in what situations it is possible to use which currency. It is necessary to use the advantages of all currencies, since the volatility of the crypto currency in some situations is harmful, while in others it is of benefit.

[genixye]

I don't think crypto-currencies can be used as money now, because businesses will lose money rather than profit as their value decreases.

Even a stronger bitcoin can be considered a legal tender, as more and more people see the BTC as a better store of value.

[Dansamiv]

I agree in part. In fact, the volatility of fiat currencies like uero or usd is still occurring frequently. However, it remains low and medium. That will help to balance or not the difference and inflation in society. Volatility of cryptocurrency is formed from the characteristics of the blockchain technology platform and the decentralized supply. It is difficult to keep balance -> according to the concept and nature of circulation and daily payments. at least not until the synchronization adjustments are made.

[fanBit101]

I am investing in a crypto and I do not expect it to become a daily currency in real life without fluctuations. But with a fair view, cryptocurrency can completely become a conventional currency. By more advanced and more flexible gadgets than fiat. But cryptocurrency is a new market and it needs changes as well as adjustments over time to become feature-rich and user-friendly. All are expected in the future.

[Adhichan]

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?

Of course we can't use any currency that is so volatile since people will not be happy if they have the amount of they want and suddenly it drops lower.

But atleast we still can use it as payment system.it looke like little different between as currency and as payment system.currency can only issued by goverment and be accepted in all.but if as payment system only certain merchant that accepted.

[BartS]

I don't think crypto-currencies can be used as money now, because businesses will lose money rather than profit as their value decreases.

Even a stronger bitcoin can be considered a legal tender, as more and more people see the BTC as a better store of value.

You are mistaken business can convert their bitcoin to fiat immediately without losing a single cent since there are services that offer that already, also if at some point cryptocurrencies replaced fiat then at that point bitcoin will be a lot more stable and you could use it as a currency so as you can see even in that scenario we can use bitcoin for the reason that satoshi created bitcoin in the first place which is to be a currency.

[ulia93]

I disagree because we are already using cryptos to buy goods and pay the services. It's already been proven and now it keeps becoming more useful in terms of its function and development. So, I believed that cryptos will be more useful in the coming more years.

People will just have to adapt that is all, if people around the world can use currencies that lose value very rapidly when they are in the middle of an economic crisis then they can use a currency that can go up or that it can go down, I will admit that it will be way easier if the price was stable but when not even 1% of the human population have adopted bitcoin we cannot really ask for bitcoin to be stable when there is so much potential to go up in value when those people realize that bitcoin is their best option to store the value that they have accumulated over the years.

Perhaps if the cryptocurrency is used ubiquitously and Bitcoin will have and use everything, then it will cease to be tied to the dollar and no one will evaluate its price in dollars. After all, it does not matter how the price of Bitcoin has changed in an hour, if a cup of coffee now costs 1000 satoshi and in an hour the same cup of coffee costs the same 1000 satoshi.

[loveinberlin]

I can't agree with this statement because everything is volatile. If you think about the dollar, you will understand that this currency also experiences fluctuations in the market. I am sure that btc deserves being approved

[Icoalert00]

Every money has the volatility and it actually depends on the people who are gathering them and for the people who chose to save it in their bank. The rule of demand and supply is given here because the more the hoard of people the more the value will increase just like cryptocurrency but it doesn't mean it can't be money. It can be money with some opportunity to grow.

[coinfinger]

My point is different. when bitcoin comes to the limit and can not be exploited further, it will be finite. And once it is finalized, Bitcoin prices will continue to increase in the future. And when you use Bitcoin to buy a house. The problem goes back to another way, not as you say anymore. do you know

If we think that any of the crypto currency will have a stable market value in the future, then we are thinking of something which is not at all possible and that this will never happen. All the crypto currencies are having highly fluctuating market values and that this is the nature of all the crypto coins. However, we can really expect that the crypto coin like that of the bitcoin can become the global currency as it has this much of the potential.