A cryptocurrency with volatility can't be used as money

[KennyR]

Just because it is volatile we can't stop using it a currency. It has got value and based on the same we can use it a currency. Even if USD is considered, it has got a stable value with small marginal variation in relation to other country fiat. The technology is getting valued these days and as a result our bitcoin and other cryptocurrencies were valued. More stores all around have come up with the understanding and has begun to accept same as currency.

[1714952557]

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[Adriano2010]

If is volatile we still can use a crypto coin and we will pay as it is if is accepted to shops, if the product cost 5$ we pay 5$ taken from bitcoin wallet or another coin accepted  and still can be used as money.

[kennen1113]

If is volatile we still can use a crypto coin and we will pay as it is if is accepted to shops, if the product cost 5$ we pay 5$ taken from bitcoin wallet or another coin accepted  and still can be used as money.

Of course, even if the crypto doesn't have stability, we can still use it as money, as long as the place where we buy the goods accepts it, however, very few shops accept this problem when the value of crypto always has too strong fluctuations. We never even want to use crypto for these cases because holding is better and can bring us profit while spending only wastes opportunity, so in people's minds, volatile crypto can still be used as money but very few people do it, it is unnecessary when fiat still exists.

[Genamant]

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 agree to the articles point regarding this argument ,but it will depend on the mindset and understanding of the receiver of bitcoin or any cryptocurrencies  in exchange to his service or products or property i guess
i am glad that cryptocurrency doesnt have the stability of fiat currency
then there will not be something special  about holding bitcoin or altcoins

[bonker]

Is it going to be involved with the usage like a normal money it need to be regulated properly otherwise possibly the best way will not been going here so the cryptocurrency is always like the alternative for the money but it will not being built up with the proper way then it is not useful.

[goaldigger]

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 somehow's got a point but what if your flat doubles its value? To think that its just a currency like pounds or dollars where the price changes everyday. The only difference is that it changes massively. When the time comes that its an official currency, im sure government would study it better or maybe launch some ICOs for that.

[Xampeuu]

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 somehow's got a point but what if your flat doubles its value? To think that its just a currency like pounds or dollars where the price changes everyday. The only difference is that it changes massively. When the time comes that its an official currency, im sure government would study it better or maybe launch some ICOs for that.

the most basic thing is that not many use bitcoin, so prices are possible to manipulate and cause high fluctuations. but if many governments have given their policies, I think fluctuations can be suppressed

[blockchainwriters]

cryptocurrencies will volatility can be used for money and all been proved in countries like Venezuela and Argentina in both countries crypto currencies are used as major currencies for various transactions

[centhiniz]

there are still many problems that may arise other than volatility, especially when the transaction accumulates too much, it will be related to the length of transactions and costs that are swollen, but actually this is constantly being handled by the developer and third parties. But for now, the volatility that has occurred has not been possible for that.

[yusupjatigumilar]

It is true that if the value of bitcoin decreases eating the value of fiat in bitcoin that we have will also decrease, therefore if bictoin is used as a payment tool then there must be a system that regulates pricing automatically according to the price of bitcoin at that time, otherwise there will be parties who are disadvantaged when the bitcoin price is corrected. Unless the bitcoin price has reached a stable point where there will be no large price correction occurs.

[Vaskiy]

Obviously,  Bitcoin price is known for it’s volatility and fluctuation. So, it’s better to hodl it since there is a strong chance to see higher prices. At this point it wouldn’t be a smart move to use Btc to make payments.

However people are much adopted to the reality of bitcoin. Understanding the volatility of the market it has gained more importance as an I investment source rather than a payment gateway. As more acceptance and usage is found around common people we can expect the marketplaces around to accept bitcoin as payment beyond its volatility.

[Falgorn]

High price volatility of cryptocurrency is indeed a very serious obstacle to its use as a means of payment. However, the output can always be found. Now there are various mobile applications and bank cards that provide an opportunity, having a cryptocurrency, to formally make payments in national currency at the rate in effect at the time of payment for the goods or services. This form of payment will be especially beneficial for sellers of goods, because this eliminates the difficulties with reports and tax authorities. In this case, it is also possible that a document may be recorded in the national currency, and in fact, at the request of the seller of the goods, the calculation can be made in cryptocurrency.

[engrshu]

The volatility of the digital currency depends on how the market moves, it indeed a big thing in terms of using it as payment, before using to pay you need to check the trend of it first in the market that makes me realise that the crypto or btc is good for investment rather than using it as a mode of payment.

[okala]

The banker is right because since the cryptocurrency is a volatile currency it can not be used as the main currency because it value can change at any time and the economy need a stable currency which can prevent the economy from going into sudden inflation. But in at that if we look at it from a positive side you will know the potential of cryptocurrency being used as the mainstream currency.

[usorin]

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 agree with it, something similar with inflation, there was times in certain country, mostly after WW II, when a bread for example was couple millions in the national coin. Volatility is bad for the business if you dont have control.

[Tylev]

cryptocurrencies will volatility can be used for money and all been proved in countries like Venezuela and Argentina in both countries crypto currencies are used as major currencies for various transactions

However, we are not talking about national centralized cryptocurrencies. Just such cryptocurrencies are fully regulated in price and the volatility is minimal. However, a decentralized cryptocurrency always has and will have high price volatility and this is indeed a big problem for its use in business, especially if deals are made that by their nature require a long time from the moment the transaction is made to its implementation.
However, the cryptocurrency is just beginning to develop and ways to circumvent the negative impact of the volatility of the cryptocurrency can still be found.

[LUCKMCFLY]

A cryptocurrency if it can be used as money, what happens is that when it is in the accumulation stage and in bearish trend it is not profitable, because the cryptocurrency obeys the bitcoin movements, and if it is in those phases, simply the price does not It goes up, but if the bitcoin market is in a bullish trend, I'm sure that they will use it.

It's something like what happens when the bitcoin goes up, that the fees in the Exchanges go up a lot.

[Kimonoe]

A cryptocurrency if it can be used as money, what happens is that when it is in the accumulation stage and in bearish trend it is not profitable, because the cryptocurrency obeys the bitcoin movements, and if it is in those phases, simply the price does not It goes up, but if the bitcoin market is in a bullish trend, I'm sure that they will use it.

It's something like what happens when the bitcoin goes up, that the fees in the Exchanges go up a lot.

I don't think so. like the dollar index has fluctuations. but the difference is that fluctuations in bitcoin are like uncontrollable, so in an instant it can rise or vice versa. and I think this is the problem

[emmybd]

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?

There is no connection with bitcoin and flat, so why the flat would lose its value. It is true that bitcoin is a very volatile currency, but it has more advantages than disadvantages so we have to keep that in mind.

[777Jolami]

bitcoin's inherent nature from decentralization.  will have to accept its fluctuations and risks.  That's why the crypto market is really attractive.  Perhaps no, future bitcoin or later it is still leaning toward speculation rather than means of payment / money.  Bitcoin is accepted by many countries as a method of payment for many different activities, products and services.  But here we talk more about speculation on it.