A cryptocurrency with volatility can't be used as money

[voztata]

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?

Is there any cryptocurrency without volatility? Every cryptocurrency in the market fluctuate up and down and they all can be manipulated. I don’t know why people are fond of saying this in a way that Bitcoin is the only cryptocurrency we have that is volatile, they never mention other ones like Bitcoin Cash that is also very volatile, including Ethereum, Litecoin, Dogecoin, Ripple and all of them out there all volatile.

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[Dimon8]

I think that there will come a time when speculation with bitcoin and other crypto currencies will not occur and the volatility of crypto will be very small, and then crypto will be used as money.

[roxbit]

I totally agree, because under the current conditions of volatility the only practical use that Bitcoin could have would be its use as a means of payment to replace the current inefficient and expensive payment processors.

I am convinced that those who dare to use Bitcoin as money or as a long-term investment, will have to learn to continually deal with this high volatility because its defended decentralization makes bitcoin an easy prey for speculators without the possibility of any regulatory intervention.

A cryptocurrency is not a money because a money is the fiat that we are using. A crypto is an asset and obviously it is so unstable. Volatility is both directions, it's up and it's down that  a person will take that risk making it is a long way from being a currency. Unlike a currency, which is used to assign and exchange value, an asset has its own inherent value based on what people will pay for it.

[Satunaimrotes]

If the exchange rate is very volatile, there are many transactions in real society that are difficult to accomplish. I believe that with the development of the community, bitcoin fluctuations will become smaller and smaller.

[Fortified]

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 could be very difficult to use like our fiat money because of the value of this coin is not stable , and it need to adjust the price of goods to compensate the price cryptocurrency ,  but in my own openion there is always way if we like the idea and willing to develop the system.

[valentine401]

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 could be very difficult to use like our fiat money because of the value of this coin is not stable , and it need to adjust the price of goods to compensate the price cryptocurrency ,  but in my own openion there is always way if we like the idea and willing to develop the system.

In my own opinion, most of the people today are investing in cryptocurrency because of the volatility of the market that can make you rich immediately depending on the demand but aside from that, fiat will never be replaced by bitcoins due to its volatile price in the market.

[goldkingcoiner]

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?

Once the cap is more or less reached, volatility will go down. I believe the only reason BTC is so volatile is because the supply currently overgrew the demand. But once no more coins are produced, demand is all that will be left. And just like with a non-renewable resource like gold, the price will go up but hold its stability more or less.

[Dofotonomo]

If the exchange rate is very volatile, there are many transactions in real society that are difficult to accomplish. I believe that with the development of the community, bitcoin fluctuations will become smaller and smaller.

[ganlianshifu1]

If there is no price stability, cryptocurrencies may be difficult to achieve widespread circulation and large-scale adoption!
In the future, when BTC is accepted by more people, the price will stabilize and spread around the world!

[zeaderza]

If the exchange rate is very volatile, there are many transactions in real society that are difficult to accomplish. I believe that with the development of the community, bitcoin fluctuations will become smaller and smaller.

There is mega risk if this happens. Actually bitcoins is known or differentiated from other sources of income Is just because of this fluctuations. If you remove them or slightly decrease them through any means, you could be seeing a loss and unimportant bitcoin world that isn’t that much charming. This volatile makes the world of bitcoin different from others so we couldn’t slow it.

[cahbagus555]

Fiat money have own market and called forex. In forex market, volatile always happen in market because many factor. Money and cryptocurrency is same like stocks or bonds, its always volatile. In any market, every commodities have volatile price including dollar or bitcoin. I think bitcoin can be used for currency if government regulation issued

[Crystal24]

That a currency has high volatility can not be reason enough for it not to be used as money.

[rasp]

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?

Regrettably, Wellershoff is quite right, and cryptocurrencies in their current state cannot be used as a ready substitute for fiat money.
Cryptos are mostly used for speculation (buy at low, sell at high), but not as a stable method of payment.

[anti76]

If you buy an apartment, it doesn't matter how much bitcoin will cost.You'll already have an apartment.No need to combine the virtual world with the real one.

[jaaeeeyyyy]

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 yes it cannot be because whenever that the price will fall down it is hard to buy things that we wanted to buy because if our money is just right for yhe price and then all of a sudden you it falls then you will wait for it to rise again before you can buy the thing you wanted. So it is much better to stay that way because in that case they can live peacefully without people complaining about that happening.

This is true. But one of the factors that makes the crypto volatile is that the people who uses it. There are panic sellers and such. These people affected the crypto so much. If we dig deeper, fiat did not really have a change because people are consistently using it. Therefore it is stable because people needs it. If thats the case, then if it happens to the bitcoin then it will surely not be volatile in nature.

[seneido]

I agree that at its current state, bitcoin is too much of hassle and a risk for business to use as money. The value changes by daily and makes it very difficult to measure. I believe we will find the answer to this solution in the future, but for now I can't see it as money yet.

[Getmon]

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?

No no no, the value of the flat will not decrease. The value of the flat in that sense is not really determined by the volatility of Bitcoin's price. It is determined by its actual worth in the real world. And since the worth of the flat will always be high because its demand will remain high, its value will increase instead of decrease. But you are right though that a currency that is too volatile will not really prosper. However, Bitcoin will definitely reach a stability stage at the right time.

[Scripture]

Are you pertaining to the inflation rate where the purchasing power of money decreases over time?. Example is that when you have a dollar you can buy a lot but now its just the same value of a candy. This is different from cryptocurrency's volatility. Its half investment either so its normal to fluctuate.

[automaticmoney]

cryptocurrency volatility is very unstable to use as currency at the same time still merchants are using as currency in various parts of the world which is positive sign for the industry

[biletskiy]

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?

Is there any cryptocurrency without volatility? Every cryptocurrency in the market fluctuate up and down and they all can be manipulated. I don’t know why people are fond of saying this in a way that Bitcoin is the only cryptocurrency we have that is volatile, they never mention other ones like Bitcoin Cash that is also very volatile, including Ethereum, Litecoin, Dogecoin, Ripple and all of them out there all volatile.

The guy who left this post here was interested in something different. He asked if Bitcoin, being so volatile, could be used as the money. My answer is no but it is the coolest currency to work with it online and earn on it.