A cryptocurrency with volatility can't be used as money

[Sled]

That is true, volatility in a currency is not a good thing to use in all aspects, because of the inconvenience of its use in the community, its value can change every time and it will not give a good effect in the economy of the country.

Even there is a volatility, we can still use it as a currency because we just need to find a person that will make a deal for us and accept the cryptocurrency as a mode of payment and that is how we are able to use the cryptocurrency as a currency or mode of payment. Just remember that you just need to find a person that will agree to your deal.

[calya]

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 cant be really used as a currency because of its volatilite price and the volatility is also the reason why cryptocurrency is very profitable today, there is so many use for crypto and not just  a currency.

its not about the volatility that cause the cryptos to become usable as a  money but it is because cryptos are built to store a value .  but yes , volatility is the reason on why cryptos are verry profitable in terms of asset use .

Re: A cryptocurrency with volatility can't be used as money

no .  that is not true , cryptos can still be use as a  currency or a money to be able to buy stuff and pay something despite of thier volatile nature but it is only risky because your money can decrease at some point although it can still also increase if ever the price of cryptos will also increase .

fiat money have volatility too in forex trading.so why cryptocurrency could not used as money.as long as people agreed to accept cryptocurrency as payment , no matter with this.

[Nhor1011]

     Cryptocurrency is a form of money becaus ewe use it as payments online but if we compare it with fiat it is far different. Bitcoin and other cryptocurrency  was created and designed as volatile which is any time it will fluctuate unlike the fiat money that has a stable value whether the price of merchandise decrease the value of fiat currency will not change.

[posi]

Cryptocurrency is volatility but i disagree with Klaus W. Wellershoff when he said its impossible to use a currency which is volatility as money because the banks, senior regulators and the government are the major thing which make the volatility of cryptocurrency to be in dump position instead of pumping.

[Cotton Candy]

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?

Digital currency is a type of cash since ewe utilize it as installments on the web however in the event that we contrast it and fiat it is far various. Bitcoin and other cryptographic money was made and composed as unstable which is whenever it will vacillate not at all like the fiat cash that has a steady esteem whether the cost of stock reduction the estimation of fiat money won't change.

[Aamir1]

Every commodities always have high volatile in their price. Bitcoin right now like commodities and its like a gold or silver. Its store of value and i think it can be used as currency as long merchant accepting bitcoin and government issuing regulation on it

It is right that with huge volatility bitcoin cannot be used as payments and receipts. If the receiver thinks of the dropping price of bitcoin he will hesitate to accept bitcoin and the payee will also think of the price in his local currency or in dollar, but to promote bitcoin we should never calculate the price of bitcoin in our local currency. If we do so then using bitcoin will not take place.

[deppil]

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 cant be really used as a currency because of its volatilite price and the volatility is also the reason why cryptocurrency is very profitable today, there is so many use for crypto and not just  a currency.

Of course it can be done. I can buy many items using crypto or bitcoin. many sites and third parties are receiving bitcoins as payment. but I also know that the fluctuations are not good enough for the currency because of the very rapid rate changes. the seller may lose for accepting payment by crypto

[Nila soru]

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 cant be really used as a currency because of its volatilite price and the volatility is also the reason why cryptocurrency is very profitable today, there is so many use for crypto and not just  a currency.

Yeah that is the main problem. When you buy something and the price decreases the value of your purchasing will also decrease. The solution is this that there should be no comparison of the crypto with any other currency especially in dollars. Till that time it is very hard to use cryptocurrency for big deals like the one you mentioned here.

[medussa]

Same concern was raised during the US senate discussions on cryptos, Dr Michael (one of the guests) said the volatility will drop when the adoption grows and can then effectively function as currency

[DevilSlayer]

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 that the cryptocurrency has characteristics of being volatile. Even the price of the cryptcurrency is unstable, it can be still use in our daily payment. There is high possibility that the digital currency will happen.

[Gramna]

I get your point that a currency with volatility is not suitable as a currency for our daily needs. Yes it doesn't affect the price of the item you bought when the Bitcoin price goes down but then the profitability of the items will decrease since the merchants are also using Bitcoin to buy the things they sell.

[recklessMe]

Why can't cryptocurrency be used if it's already represented as payment tool in many countries? For example, Bitcoin. In fact, even our centralized currencies are volatile though not so highly as crypto.

[Ochusol]

This is quite correct. It is because of this high volatility of Bitcoin and other cryptocurrencies that made a lot of people very skeptical about using it as money.

[amber deposit]

Cryptocurrency lacks intrinsic value that is capable of generating revenue such as ordinary products or services. Moreover, since cryptocurrency is a relatively new asset, investors face the challenge of evaluating its value through traditional assessment models.

[mak2017]

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?

Most likely Klaus is right, due to high volatility we can't use crypto as money.
But there are a good number of projects, including institutional investors, who are working on their stable token or even government controlled coin.
These types of assets could really bring more people into the market and boost it as well.
Don't be that much worried about bitcoin and it's value, for the last 9 years, bitcoin has brought a huge profit to people who believed in it from the start, and still bitcoin remains undervalued crypto today, so surely there will be new heights.

[localcrypto]

cryptocurrencies are more or less as an asset we can consider for long term rare  commodity we cant consider as money with price volality but it is merchant deciosion to take that step

[furry04]

Well indeed it is the right thing to say, if a price of a currency is 1000 today and it become 5% less tomorrow such as btc` price than no one would be comfortable and business would be like gambling with so much dependence on btc.

[mdw1962]

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

[ValerieBTC]

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?

Digital currency is a type of cash since ewe utilize it as installments on the web however in the event that we contrast it and fiat it is far various. Bitcoin and other cryptographic money was made and composed as unstable which is whenever it will vacillate not at all like the fiat cash that has a steady esteem whether the cost of stock reduction the estimation of fiat money won't change.

Besides that, we would have a volatile national currency if the exchange rate was not controlled by the government. It is just because Bitcoin is decentralized and this lack of controlling authority is the reason Bitcoin is so volatile. But this is good in our interest for we do not have external interventions except some factors that can affect the price. The market has inbuilt ability to approach the equilibrium position in the end.

[icoprofits]

cryptocurrency with volatility can be used as an asset rather than money but still, most of the merchants are using it as money and payment processor which is a good move for cryptocurrency industry