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Author Topic: Bitcoin too volatile for payment, but what is the problem ?  (Read 295 times)
oseikuf44
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June 03, 2018, 05:05:20 PM
 #21

I wonder why everybody is forcing bitcoins to do unimaginable things. Bitcoins like gold is force to buy coffee and even pay taxi,meanwhile everyone dare not try that on gold or diamond. Bitcoin is an asset and let treat it as valuable.

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June 03, 2018, 05:06:44 PM
 #22

For bitcoin to work as an effective currency, it needs to be stable. The reason why there aren't that many merchants around the bitcoin ecosystem is because they are scared to receive a payment that's too volatile. Bitcoin would have been an excellent currency since you can use it across borders without having to exchange to a country's local currency just to buy something, so there's that.

I rally doubt that statement. Bitcoin was never a stable currency since its inception in 2009. Did this volatility hinder the growth of it? Absolutely no! The volatility is not a reason. The reason is its legal status. Bitcoin is not legal in majority of the countries and the merchants are usually a legal entity. So they just don't want to get into something which doesn't have a legal status or the legal status is confusing. That is the main reason for not accepting bitcoin by many merchants, not the volatility! It's just an excuse.

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June 03, 2018, 05:11:07 PM
 #23

You are messing up the whole concept, yet for other people specifically the traders and investors Bitcoin's volatility is there success but if you are talking about Bitcoin as a currency itself seeing it as a unstable currency is a weakness for the consumers and business establishments. That is why you will see a lot of businesses that previously accepted Bitcoin is pulling out their Bitcoin options as they are also factoring the volatility of the money. Bitcoin's value is also based on Fiat and these establishments need to always put it up into consideration on order to have a fixed profit into their system.

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June 03, 2018, 05:15:45 PM
 #24

one fact we must all be aware of is that for Bitcoin to be acceptable as a formal legal tender, volatility has to be very low, but anyways as for me I don't care about that as well so far as I enjoy the benefits of Bitcoin, I'm cool.

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June 03, 2018, 05:21:18 PM
 #25

I think bitcoin has many functions, such as faster remittance processes with very low transaction costs, safer hoarding of wealth, and more efficient modern payment instruments. bitcoin will be a very good currency because everyone who has bitcoin will very easily use it in another country without having to exchange local currency of a country just to buy something.
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June 03, 2018, 05:56:30 PM
 #26

I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo

Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.

I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.

If you can't see the criticisms that surround bitcoin volatility by comparing it with gold being so worthwhile, it means you will be limiting the potential of bitcoin to just be a store of value but bitcoin goes beyond that as it can go a little step further from gold which is in addition to being store of value, it can be a measurement of value and that is where those who criticise bitcoin have a good point.

Today gold is limited to selected people who have the means to own it and most times countries which means that it means for selected few but that is what bitcoin came to disprove. A lot of people don't have gold including me but more people have bitcoin and its because of the decentralisation. The moment volatility is settled not for price to be constant but to a large extent, then acceptance would be then be massive which would be could for the entire market.
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June 03, 2018, 08:31:52 PM
 #27

I think if you need to send payment in Bitcoin but don't want to get affected by the volatility factor then you can set amount in USD and convert USD in Bitcoin according to the present rate while transacting. This way your transaction system will remain updated every time and there will no fear of losing money as you can easily trade your BTC into USD and get the required amount of money. Bitcoin can also help you gain more fortune if you hold for some months as it grows faster speed than gold making it investors instantly rich. 

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June 03, 2018, 08:44:39 PM
 #28

I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo

Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.

I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.
Volatility is the main reason the price increases so quickly in a short span. Its BTCS advantage and disadvantage. Btc is more of an investment than currency because currencies are stable and btc is not so it would be difficult to find many vendors who are willing to trade with such a volatile system.
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June 03, 2018, 11:27:44 PM
 #29

I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo

Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.

I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.
Here i will say , no big factor of the volatile nature gives problem to the payment that we made through the bitcoin because the main reason is that the person who is accepting bitcoin will first learn what is this and what are benefits and losses to have payment in bitcoin .
And here if the price of bitcoin get down after get payment then I don't think it is a big problem because with that time there is equally sure probability that the price will also go up  .
But here in my opinion transaction fee sometimes factors because fee is very high of bitcoin but right now berry small amount of fee is enough for a normal speed transaction .

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June 04, 2018, 05:45:51 PM
 #30

Well, you might not even notice the change of value while you are dealing with the microtransactions but there are the corporations who have turnover in billions and that means even a single percent fall in the price can cause the loss of millions to these corporations and I don't see any corporation willing to take that risk in such environment. We must seek stability as soon as possible but it is difficult due to the growth in the user base and lack of maturity of the market.

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June 04, 2018, 05:49:30 PM
 #31

bitcoin is in a long stage of correction, it is not known when it will become stable, but it will become a fact
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June 05, 2018, 05:59:42 PM
 #32

You are absolutely right i think. Bitcoin's volatility allows people to make some profit. So i think this is not a problem. We all just need to be aware and calculative before investing.
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June 05, 2018, 07:52:06 PM
 #33

The problem of volatility is there, however, it's nowhere near what people are trying to sell it as.

It's obvious to me that you actually want bitcoin to be "volatile", in the sense that it is independent of fiat and not tied to it in any way, in the long run. Only by doing that will you be able to consider bitcoin a long term store of value, due to its decentralisation and independence. Plus, prices actually grow at a steady rate over the long run and isn't that volatile if you zoom out.

In the short term, prices can fluctuate drastically. However I don't see this deterring a lot of people from using bitcoin. If one's seriously concerned about losing money by using bitcoin as a currency (which is unlikely anyways), then simply convert bitcoin to fiat when you receive it. It's that simple. You're still able to take advantage of the benefits that bitcoin brings through globalised transactions.

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June 05, 2018, 09:54:45 PM
 #34

I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo

Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.

I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.


Just like any other thing here in this world, people will always, always find flaws in it. That is just how humans are, we tend to see the negative sides more easily than the positive ones even if we do not want to. This is why people are being more skeptical about not just bitcoins but the whole crypto currency industry as a whole.

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Thian778
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June 05, 2018, 10:19:00 PM
 #35

All you have to do is to check the value of the Bitcoin on that periods like 3pm then before it reach 4pm you should pay your item on the counter with BTC, I don't see any problem at all because when people are afraid to accept BTC for payment then cut the chase, pay them with cash...
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June 05, 2018, 11:07:35 PM
 #36

I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo

Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.

I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.

it can make the owners face a loss, any decision to accept bitcoin payments is certainly a decision that still has a negative side to some particular party
for example, we buy coffee when the bitcoin price is $ 8500 then a few days later, the bitcoin price drops to $ 7500. I think it is very influential on the seller

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June 05, 2018, 11:12:43 PM
 #37

I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo

Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.

I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.



Bitcoin volatility is also driven in large part by varying perceptions of the intrinsic value of the cryptocurrency as a store of value and method of value transfer.  A store of value is the function by which an asset can be useful in the future with some predictability.  A store of value can be saved and exchanged for some good or service in the future.  A method of value transfer is any object or concept used to transmit property in the form of assets from one party to another. 

Read more: https://www.investopedia.com/articles/investing/052014/why-bitcoins-value-so-volatile.asp#ixzz5Haz0srUV
Indrawan77
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June 06, 2018, 12:11:32 AM
 #38

Volatility does play important part of becoming currency, not all people think like OP, the problem is a lot of people also consider bitcoin as investment, so let say a cup of coffee is 10$ and you can pay with fiat or bitcoin, and there is a chance that bitcoin price is going up tomorrow, that person will choose to pay with fiat, because the btc could give him profit, and for the coffee shop owner, the price need to be stable so he can arrange the better finance and get a proper profit, so as long as the volatility is too high, crypto can't be used as currency

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June 06, 2018, 12:26:39 AM
 #39

The volatility of Bitcoin is what fuels the value and makes it to gain number one currency as far as crypto is concerned. Bitcoin is not what the holders can just use as fiat because the value changes with seconds that's the more reason why I believe cryptocurrency can't be used as fiat and that's why many countries see it as disadvantage to their economy because is not easily used is a future assets with lots of benefits.

TWOGAP // Thriving Cryptocurrency Market With Cryptobonds
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June 06, 2018, 02:34:24 AM
 #40

Bitcoin is a volatile currency for many reasons. The volatility of Bitcoin is also due to the fact that shareholders hold a large portion of their outstanding debt. Because Bitcoin's volume is similar to that of small cap stocks, it has failed to reach the mass market adoption rate that is needed to provide an optional value to those holding large currencies.



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