A cryptocurrency with volatility can't be used as money

[btcyoda]

don't never dream of replacing fiat with crypto as a payment currency.
very unlikely, even if the fiat currency will be replaced, it looks like gold is more suitable as a payment currency, a currency that will never experience inflation.

indeed fiat cannot be replaced by bitcoin at this time, but gold is also difficult to replace fiat. even if that happens, of course it's been a long time ago, because we know gold is a valuable asset that has been recognized starting from the kingdom era

Gold was used before as a way for payment or to exchange goods with it. Nowadays no i doubt it will happens to replace fiat. Societies are trying to go cashless in almost every field. We may not see bitcoin as a national currency but we will see blockchain based national cryptocurrency in the coming years.

That will definitely happen, we are going to that direction already and bitcoin and crypto is easy to carry and secure compared to gold.
The use case of crypto is also better compared to gold so I believe people will see which are more valuable between the two but this will take time.

Gold is still used in some areas and is known as dinar anyway. but fiat is certainly still the main currency. the point is that even though cryptocurrency is not the primary. but it will still be used as a legitimate currency in some places. regardless of its fluctuations..

Yes, you are right people have already considered to Gold even though it is fluctuating in the market. In the same way, they will use they will use the cryptocurrency as a prominent for the transaction. Still, the cryptocurrency is at the beginning which will securely be traded in the market in the coming days.

[Irvinn]

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?

The high price volatility of cryptocurrency is a very big obstacle for its use by states, their bodies and business structures. However, for ordinary people, decentralized cryptocurrency provides greater opportunities and advantages compared with the national money of the states and high price volatility is one of such advantages. We earn on cryptocurrency, largely using its high price volatility. Therefore, it is both an advantage and a disadvantage of cryptocurrency.

[horrifiedx1]

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?

The high price volatility of cryptocurrency is a very big obstacle for its use by states, their bodies and business structures. However, for ordinary people, decentralized cryptocurrency provides greater opportunities and advantages compared with the national money of the states and high price volatility is one of such advantages. We earn on cryptocurrency, largely using its high price volatility. Therefore, it is both an advantage and a disadvantage of cryptocurrency.

I think in addition to high volatility as an obstacle in making it a currency, of course every country wants to have its own currency, and with a decentralized system it makes it irrelevant as a currency, although crypto is a smart technology, but currently it cannot be used as a tool transaction

[Snaic]

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?

The high price volatility of cryptocurrency is a very big obstacle for its use by states, their bodies and business structures. However, for ordinary people, decentralized cryptocurrency provides greater opportunities and advantages compared with the national money of the states and high price volatility is one of such advantages. We earn on cryptocurrency, largely using its high price volatility. Therefore, it is both an advantage and a disadvantage of cryptocurrency.

I think in addition to high volatility as an obstacle in making it a currency, of course every country wants to have its own currency, and with a decentralized system it makes it irrelevant as a currency, although crypto is a smart technology, but currently it cannot be used as a tool transaction

I do not think that every state is now striving to create its own centralized cryptocurrency. Most states still continue to study cryptocurrency, others simply take a wait-and-see attitude in this matter. In addition, centralized cryptocurrency states should not strongly conflict with the decentralized cryptocurrency. The cryptocurrency of individual states will in fact represent national money, only in digital form. They will predominantly walk within this state and be used as a type of cashless means of payment.

[PuertoLibre]

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?

The high price volatility of cryptocurrency is a very big obstacle for its use by states, their bodies and business structures. However, for ordinary people, decentralized cryptocurrency provides greater opportunities and advantages compared with the national money of the states and high price volatility is one of such advantages. We earn on cryptocurrency, largely using its high price volatility. Therefore, it is both an advantage and a disadvantage of cryptocurrency.

I think in addition to high volatility as an obstacle in making it a currency, of course every country wants to have its own currency, and with a decentralized system it makes it irrelevant as a currency, although crypto is a smart technology, but currently it cannot be used as a tool transaction

High volatility is known issue for crypto payments and some projects already want to test their alternative digital currency that pegged to fixed value. I have no idea how they want to implement this but having idea doesn't have same mean to have successful way to solve issues for  payment processors.

[Triwiyono]

there is a point too, but if it is to replace a temporary transaction maybe bitcoin can. like changing to long-distance transactions, but having to exchange bitcoin with the original currency so that the value doesn't go down. if the transaction uses butcoin, but saving the old bitcoin until the price goes up or down of course it can't.

[Incodium Coin]

Let's be reminded that even fiat currencies usually have fluctuating exchange rates. Swings in the market ensure that the demand for and supply of any currency results in these upwards and downward movements. Fixed exchange rates are a thing of the past, and l think the same rule applies to cryptocurrencies.

[Naida_BR]

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 couldn't agree more with this statement. However, the reason why volatility exists is that cryptocurrencies are not used daily for everyday transactions but they are used for storing value and it is something like a kind of investment. If cryptos start to be used daily then their value will be more stabilized as there will be more buy/sell orders and transactions.

[yusupjatigumilar]

Therefore I prefer to call bitcoin an investment commodity and not as a transaction tool like a fiat money function, but we can use this bitcoin to send large amounts of money in long distances but at a low cost and not to go through the bank so the government does not can monitor the transaction, but maybe because it is considered illegal in some countries.

[JohnBitCo]

don't never dream of replacing fiat with crypto as a payment currency.
very unlikely, even if the fiat currency will be replaced, it looks like gold is more suitable as a payment currency, a currency that will never experience inflation.

indeed fiat cannot be replaced by bitcoin at this time, but gold is also difficult to replace fiat. even if that happens, of course it's been a long time ago, because we know gold is a valuable asset that has been recognized starting from the kingdom era

Gold was used before as a way for payment or to exchange goods with it. Nowadays no i doubt it will happens to replace fiat. Societies are trying to go cashless in almost every field. We may not see bitcoin as a national currency but we will see blockchain based national cryptocurrency in the coming years.

That will definitely happen, we are going to that direction already and bitcoin and crypto is easy to carry and secure compared to gold.
The use case of crypto is also better compared to gold so I believe people will see which are more valuable between the two but this will take time.

I know that people will not use gold as the gold was already been replaced by the fiat currencies. Its the matter of whether people will quit fiat and use digital currency instead ?

Well, not until bitcoin price is stabilized. I mean you will not want a person buying a car for some bitcoins and in the evening the price of the amount is reduced by 5 percent or so. This is the disadvantage of volatile currency. I hope with regulations this problem will be solved and then bitcoin will be used as a major currency.

[superstarbtc]

cryptocurrency with volatility can be used as money when the merchant and the user pay it with cryptocurrency so it depends of mass adoption irrespective of prices

[bangkit tri]

don't never dream of replacing fiat with crypto as a payment currency.
very unlikely, even if the fiat currency will be replaced, it looks like gold is more suitable as a payment currency, a currency that will never experience inflation.

indeed fiat cannot be replaced by bitcoin at this time, but gold is also difficult to replace fiat. even if that happens, of course it's been a long time ago, because we know gold is a valuable asset that has been recognized starting from the kingdom era

Gold was used before as a way for payment or to exchange goods with it. Nowadays no i doubt it will happens to replace fiat. Societies are trying to go cashless in almost every field. We may not see bitcoin as a national currency but we will see blockchain based national cryptocurrency in the coming years.

That will definitely happen, we are going to that direction already and bitcoin and crypto is easy to carry and secure compared to gold.
The use case of crypto is also better compared to gold so I believe people will see which are more valuable between the two but this will take time.

I know that people will not use gold as the gold was already been replaced by the fiat currencies. Its the matter of whether people will quit fiat and use digital currency instead ?

Well, not until bitcoin price is stabilized. I mean you will not want a person buying a car for some bitcoins and in the evening the price of the amount is reduced by 5 percent or so. This is the disadvantage of volatile currency. I hope with regulations this problem will be solved and then bitcoin will be used as a major currency.

besides that with all countries using bitcoin, volatile will be small, because many bitcoin and whales holders will have difficulty controlling it, unlike today. in my opinion at this time it is still difficult to use BTC as money as you demonstrated

[zemper]

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's a pretty much biased and ridiculous point of view. Real property value won't decrease due to cryptocurrency price falling. Cryptocurrency is only an instrument of exchange not a value itself.

[Jesabela04]

That is quite true but it still for us believers to hold on what we want. After all, cryptocurrency is still volatile and is always changing in value but it is still a better investment and those who knows how to wait will get rewarded in time so we have to be patient. It is how we handle every situations no matter how fast the changes are.

[last7minutes]

That is quite true but it still for us believers to hold on what we want. After all, cryptocurrency is still volatile and is always changing in value but it is still a better investment and those who knows how to wait will get rewarded in time so we have to be patient. It is how we handle every situations no matter how fast the changes are.

The cryptocurrency has just some characteristics of the money, but it cannot be called money at all. It is volatile, and its value changes all the time.

[SnapDown22]

I use it as a fiat currency, I think it is different in nature and usability if all countries have received crypto currency as the applicable currency, maybe that could happen

[Dimas99]

isn't the crypto currency a digital currency that can be used for digital payments or transactions as well and the possibility that if all the crypto currencies have been recognized as legitimate and valid currencies, I think crypto currencies can be a currency that can be used

[wolfing]

I think Cryptocurrency is a good investment, even though the price isn't always the same, maybe now the price is going to go up maybe later it can go down, though I'm sure that Cryptocurrency investment will benefit everyone who joins Crypto investment.

[conected]

isn't the crypto currency a digital currency that can be used for digital payments or transactions as well and the possibility that if all the crypto currencies have been recognized as legitimate and valid currencies, I think crypto currencies can be a currency that can be used

- Even if it is not recognized as a legal currency, I still see people here using it as money, although this range is probably quite small but it is sufficient to prove that volatile crypto can still be used as money. But of course, people will not like to use it too much, not because it is unfavorable, everyone here doesn't use it as money because this volatility of crypto can be profitable for them, even huge profits, so there is no reason for people to waste this gift, investment and trading are the best and most suitable options, using cryptocurrency as money is just an emergency

[ongkok87]

isn't the crypto currency a digital currency that can be used for digital payments or transactions as well and the possibility that if all the crypto currencies have been recognized as legitimate and valid currencies, I think crypto currencies can be a currency that can be used

if in my opinion crypto will not be used as a legitimate currency in the world because the crypto currency is a digital currency that cannot be used as paper currency, crypto can only be used as an online transaction tool