A cryptocurrency with volatility can't be used as money

[Rox123]

They're volatile because the market is still so young. When more people will start buying and actually using it then we will see normal gains and drops like 5% tops a day. But this could very well be in only 10 to 15 years...

Crypto is the future. Wether you want it or not. Wether you believe it or not.

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[Anthrlive]

This quote is probably taken out of context, because there are many more factors involved in the questions than simply volatility. Many countries have super volatile currencies, that change drastically every week/day, just like bitcoin, but still use this fiat for everything.
In my opinion cryptocurrency can be used as a global currency, something to use for payments across borders, when you can exchange it to fiat quickly, not to lose anything on the instant transaction across the world.

[@baracitamon]

OK, because they fluctuate so electronic money is not widely accepted everywhere, electronic money is too dangerous, holding them high risk. Therefore, it is suitable for some venture capitalists who dare to take risks.

[Jamescur]

Intense price fluctuations make cryptocurrencies unsuitable for daily payments and transactions, and therefore lack the important attributes of monetary equivalents.
Therefore, if you want to use cryptocurrencies in your daily life, the stability of its value is especially important.

[millionaireshs]

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 Crypto Currency with volatility moving is actually affect to your capital money, Let say you invest in bitcoin and other crypto currency if all of these are decreased to each value it is possible to lose your capital money of course. But regarding to decreased the price of merchandise it is because of low cost of importation of number one big player in the world market which is FUEL.

[Malya_alkendy]

I once thought so, what would happen if the cryptocurrency is made in Money, while the price up and down quickly. surely there will be people in the profits, but also there will be people who suffered huge losses. and honestly, I am still confused by this.

[maraclariss14]

The bitcoin shouldn't be used as a a classic currency anyway, do you buy your bread or your coffee with gold?
Moreover that's true that the volatility of the cryptocurrency makes it actually unsuitable to be a real currency that your shops could accept.

In some country like japan, we can using bitcoin as payment in restaurant. But i prefer using fiat money for payment because its more practice and bitcoin is too valuable if we are using for payment

Yes, some countries can regulate crypto currency well like in Japan, but in other country they are not fully accepting crypto currency as their currency because of its volatile price, they need a permanent value the one currency that can maintain a specific value,  I think the only use of crypto currency for them is an alternative source of income.

[MacStone]

pff there are countries with more than 30% of annual inflation, and you dont consider it as volatility? came on my friend

[stellaekun]

Price volatility is one of the strongest argument against bitcoin for its adoption as a currency. Merchants do not fancy uncertainty in prices when they deliver services to their clients.it will take a while for the volatility to be resolved because it is in a way related to adoption

[stellaekun]

I think a cryptocurrency with volatily can still be used as money since it has a value which can be traded or to buy a product.

It can be used but only a few person would want to take the additional risks associated with constant changing rates in the market.it is one of the reasons cryptocurrencies debit cards have not found much acceptance generally

[gwaps012]

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?

Cryptocurrency is volatile and that is the reason why it was very profitable, other countries will not accept cryptocurrency because their own economy might die if people will focus on investing in bitcoins.

Companies that has merchandise or products like amazon does not have a problem on cryptocurrency because they know that the price of the coin can still grow up and they will earn more profit more than the current price of the item that has been purchased.

I agree with you, volatility in crypto currency is a big hindrance for it to be used as permanent currency, a certain currency must have a fixed value when it is applying for a single country, but on the other business establishments will not have a problem in crypto because they can enter the market whenever they want.

[Kambal2000]

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?

Cryptocurrency is volatile and that is the reason why it was very profitable, other countries will not accept cryptocurrency because their own economy might die if people will focus on investing in bitcoins.

Companies that has merchandise or products like amazon does not have a problem on cryptocurrency because they know that the price of the coin can still grow up and they will earn more profit more than the current price of the item that has been purchased.

I agree with you, volatility in crypto currency is a big hindrance for it to be used as permanent currency, a certain currency must have a fixed value when it is applying for a single country, but on the other business establishments will not have a problem in crypto because they can enter the market whenever they want.

Well, it would be fine with us if the government will not allot it, just think of the opportunity that it could give to us if we will not use crypto as money and just using it as a crypo for investing purposes just like real estate and stock market for sure many of us will still have the chance to earn more.

[jlong187]

I think this is the main thing that stands on the bitcoins way to became a worldwide accepted cryptocurrency, is volatility.

[cloudproject]

yeah agree with it, many company or retail that don't allow bitcoin transaction because the price is so violated that make they confused with price mark, so they don't want if this make they getting lossing the price in their product. but maybe if bitcoin are getting normal price yes it can comeback into used money for payment

[burner2014]

yeah agree with it, many company or retail that don't allow bitcoin transaction because the price is so violated that make they confused with price mark, so they don't want if this make they getting lossing the price in their product. but maybe if bitcoin are getting normal price yes it can comeback into used money for payment

It would really hard since we cannot use it everywhere since price was not secured, even me, I won't used it unless the price became stable, but I would prefer the bitcoin value for now since we are earning from it price that was unpredictable.

[darkphoenix2610]

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  volatility is just happening because crypto currency in this present time is decentralized. Since it is decentralized there is no regulation to stop the issue and it will only be solve if government will be part of it. I mean if government will create thier own cryptocurrency then volatility is not happening on that particular crypto currency.

Yeah I also think that bitcoin volatility is a problem for users. You will calculate the amount in your local currency but bitcoin volatility will change the price. This problem should be solved and the only solution for it is to prevail bitcoin in the world and legalize it, so that everyone can use it as regular currency and there is no other currency for bitcoin calculating.

Or I must say that, what if the bitcoin volatility good for others, It is really easy to manage your resources by the time bitcoin changes its price, If it goes low, convert it, If it goes high preserve it, because of the changing value, you can make plans can help to gain big profits, bitcoin volatility is normal in such environment where investors and traders are in one place.

[jeluhtajem]

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.

[mung_nasib]

This argument actually gives a justice because no one feels the loss later on However, governments in a country must be ready to support the existence of the system so that smoothness in doing every transaction using bitcoin can be done without any obstacles at all.

[xsaints128]

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?

You are telling the right thing about the volitility of the cryptocurrency and all but the example which you used about the real estate is not good at all. The value of a real estate doesn't depend upon the currency which you used to purchase it, it depends upon other factors like the demand of the property, population of the place,etc., and i know something for sure that the value of a real estate will keep on increasing because of the population burst, as long as the population keeps on increasing the demand for real estate will increase. Even the value of a $dollar keeps on changing everyday but in that scenario too the value of a real estate increases. Bitcoin, is too volatile to be used as money, i agree with that but that doesn't mean that the value of an asset decreases if i purchase it with bitcoin and bitcoin's price goes down.

[fishball]

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?

Ithink we are no longer new with his kind of news. We already knew that bitcoin's value is actually unpredictable im exact manner. But it is kind a frustrating to know that we are also in danger.