A cryptocurrency with volatility can't be used as money

[botija]

Reminds me of the earlier days when one of my major thoughts before buying anything with cash was, "This is going to cost me $30, but if Bitcoin moons, I would be paying a lot more for this useless thing."

I really, really, really wish I could go back in time. I'm sure that's a very common feeling in the crypto universe.

[moynul2050]

Price volatility Crypto currencies are indeed very high and this is very risky to use as a transaction tool. but in reality we can now use it in several countries and several online stores.
and it can be used as money.

[Snaic]

All of us today use credit cards for settlement of our accounts, as well as using the Internet to buy and sell different things.  Based on this, we have entered the age of digital currencies.  But in order to convert real money to digital, we need to go to the bank or to the terminal in order to get the equivalent on our digital wallets.  Cryptocurrency is the very tool that simplifies these tasks.  But it is precisely volatility that is a big problem, because prices cannot be stable.  But this is also fixable, because the cryptocurrency market is affected by the lack of legalization of cryptocurrency in many countries, the lack of regulatory processes and the presence of uncontrolled speculation.  If this situation is rectified, then why is it impossible that the cryptocurrency will take the place of real money and will be used as a means of payment.

[Cherylstar86]

Price volatility Crypto currencies are indeed very high and this is very risky to use as a transaction tool. but in reality we can now use it in several countries and several online stores.
and it can be used as money.

  I think volatility was naturally been part of crypto currencies and we are aware about its existence. Somehow, volatility can be manage with people who has open minded and wide patience. And I believe crypto coins with high volatility will still exceed and perform its bountiful platform.

[ioanbtc]

I think it can be used as money but for this we need a fast confirmation when send using lightning network and after we pay the merchant have a wallet connected to an exchange and after payment exchange it directly to fiat money via API.

[acroman08]

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 he really a chief UBS bank? because his reasoning doesn't sound like a chief. he should know that if you exchange your current asset into a different one it doesn't matter if the value of the previous asset decrease. the current asset you have is still have the same value when the time you exchange it. as a Chief he's knowledge about this should be vast. unless what he said is Biased against cryptocurrency.

[automaticmoney]

Insipte  of crypto volatility still we are witnessing steady growth of cryto in terms of merchant acceptance so we can say crypto is growing all over world number of atms are more and merchants also accepting crypto

[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?

my personal insight in this matter is that Bitcoin has high votality and cannot be use as a main currency
to buy or sell actual goods or necessities that we use on a daily basis
anyways for me bitcoin is not a currency its a digital money and a high potential investment

[globalpain]

I think it can be used as money but for this we need a fast confirmation when send using lightning network and after we pay the merchant have a wallet connected to an exchange and after payment exchange it directly to fiat money via API.

right for transactional things, but the problem here is the volatility of unstable values. each trade product cannot function healthily if the payment media is always changing in price. This is not at all suitable and threatens product value rotation.

The stock entity as a projection target is healthier than just isolated as a currency

[BennyK]

Every cryptocurrency on the market has its major and unique purpose. Some are highly volatile and this helps crypto traders to utilize that feature to trade with it on daily basis to earn profit. Others which are with low volatility can served as long term investment because it takes time for such coins to make huge spikes.

[congresowoman]

It is true. A highly volatile currency will produce a gistrust among its holders. It will not be a fair trade because if a currency behaves like this, you really cannot store it at a long period of time and at the same time, its value cannot be appreciated even after a few years. A stable coin would be close to being tradeable.

[Wolfwar]

I think that we should not forget that we are still at the stage of development of the cryptocurrency market and it is quite possible to assume that once a cryptocurrency becomes very stable in its price.  Today, many are interested in cryptocurrency Only because its volatility provides a guarantee of a good profit.  But if the cryptocurrency becomes stable, then it will be appreciated for its functionality and practicality.

[jak3]

I think the op messed up on their thought, if you buy something with cryptocurrencies then that will not be affected by the price change in cryptocurrencies. For example, if you buy a house with some Bitcoin then if the price changed in Bitcoin will not affect the value of the house that is nonsense. on the other hand, if you are talking about an investment or saving your money in Bitcoin or any other cryptocurrency then yeah that will be volatile but even gold and silver are also change. The more volatile the currency is the more risk and profit you can get.

[Argoo]

Yes, while high price volatility of cryptocurrency is a serious obstacle to the use of cryptocurrency as a means of payment, as well as the legalization of cryptocurrency by states. Moreover, there is no reason to believe that over time the price volatility of the cryptocurrency will decrease. However, in the future, the cryptocurrency can be used in various combinations with conventional currency and this circumstance can significantly reduce the negative consequences of its high price volatility.

[Vaskiy]

Businesses fear of the volatility and stay without using the bitcoin acceptance. This has been getting changed slowly with more and more marketplace accepting bitcoin and top altcoins. Something that can be exchanged in exchange for fiat has got value and the same when gets used to fiat gets featured to be money. Volatility always gets associated with bitcoin, and surely this will be accepted when days pass.

[Wolfwar]

Yes, while high price volatility of cryptocurrency is a serious obstacle to the use of cryptocurrency as a means of payment, as well as the legalization of cryptocurrency by states. Moreover, there is no reason to believe that over time the price volatility of the cryptocurrency will decrease. However, in the future, the cryptocurrency can be used in various combinations with conventional currency and this circumstance can significantly reduce the negative consequences of its high price volatility.

I am sure that more cryptocurrency will be able to lose interest from many people when its price stabilizes.  Today, users are interested in precisely volatility, thanks to which you can earn a lot of money.

[binhvo1505]

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 absolutely true and that's why economists have argued that bitcoin should be a common currency. Strong volatility is not eligible to make a common currency. because when its prices fluctuate, people don't know how much money or revenue they have each month to plan for the future and everything will get messy.

[senin]

I think it can be used as money but for this we need a fast confirmation when send using lightning network and after we pay the merchant have a wallet connected to an exchange and after payment exchange it directly to fiat money via API.

Yes, when making fast transactions, cryptocurrency with great volatility can still be used. However, it can also be used in conjunction with payment cards when there are funds in the bank account, however, settlements are made in national money at the corresponding rate at the time of the transaction. Such calculations neutralize the negative qualities of the high price volatility of the cryptocurrency as a means of payment and may well be used when making retail purchases.

[Quanatix]

Definitely, I view cryptocurrency as somewhat of an exercise on economics. People really don't know how it will go. But along the way, many have "staked" their assets on it in the hopes of increasing their gains. How it will end entirely depends on the interplay between government, technology, the users and the whales.

[Bezobraznike]

Definitely, I view cryptocurrency as somewhat of an exercise on economics. People really don't know how it will go. But along the way, many have "staked" their assets on it in the hopes of increasing their gains. How it will end entirely depends on the interplay between government, technology, the users and the whales.

   We all contribute. I think that with crypto-currencies we will have better arranged economy then we have now
with fiat. Governments, huge corporations, banks are minority, but they control everything, I think with crypto-
currencies each of us can have a voice.
   This is not an exercise anymore. This is a real deal, and it`s getting bigger every year. Volatility will not be a problem
forever, when crypto-currencies find their place in global stage and reach some price grow will stop. That can happen only
after full adoption, we will have to be patient for that.