Stability the shortest way to public adoptions.

[Gaaara]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.  For the past 5 to 7 weeks now bitcoin has started to develop that characteristics and that is a big sign that both online and offline retails and wholesales business will started to used it very soon.  I believe that in blockchain technology we are getting closer to what the founders has in mind.

I totally agree with your idea, if only bitcoin (the most used crypto) would be more stabilize it would be much easier for it to be traded in such a worldwide basis, the most problem right now is that as much as they want to use it it will take so much time to calculate and reanalyze their product every time bitcoin change its value.

[1715013542]

1715013542

[1715013542]

1715013542

[1715013542]

1715013542

[1715013542]

1715013542

[timerland]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.  For the past 5 to 7 weeks now bitcoin has started to develop that characteristics and that is a big sign that both online and offline retails and wholesales business will started to used it very soon.  I believe that in blockchain technology we are getting closer to what the founders has in mind.

The current trend of stability will most likely be short lived.

I do agree that stability is probably needed for mainstream adoption, but I don't think that it's an issue at the moment. People are still adopting bitcoin as a form of storing value because it is easier to access compared to a lot of the foreign currencies in countries that are suffering from hyperinflation.

But indeed, in order to achieve stability there needs to be more adoption, and the only way to see that is time. There isn't really anything we can do to speed this process up in my opinion, nor is should this be any cause of concern as volatility is simply a part of the bear/bull market cycles that is imminent within all assets, especially in decentralized ones.

[guoyu78]

The problem with bitcoin is it needs to gain value over time or it becomes irrelevant, who wants to hold your money in something that is sinking? fiat can sink over time in value and remain relevant because it's all relative to the other fiat currencies and wages, and bank interest offsets most if not all of the drop.
So far bitcoin has done that in spades, but if the next halving comes and goes and the price doesn't surpass the last high by a good amount within a year or so it may be abandoned and crash to near nothing. Leaving prior adopters stranded is not going to work.

What asset just goes up forever? If such a thing existed, we could all be rich.

Even if Bitcoin holds the long term uptrend through the next couple halvings, it'll eventually break down. I don't see why entering a bearish supercycle (years or decade-long bear market) would change the bigger picture though. It's the same thing as the 2011 or 2014 bear cycles, just on a larger scale.

I believe that is basically what a lot of people thought about bitcoin when they were getting into this market and that is one of the reasons we keep seeing a lot of whining. It has happened before and I am pretty sure that it will happen again.

Sometimes, I get to wonder if some people actually understand at all how market is fashioned or how it works, and until they come with terms to reality that market will always fluctuate before we will start to get people becoming reasonable with their assumptions or expectations.

[Wind_FURY]

What asset just goes up forever? If such a thing existed, we could all be rich.

Even if Bitcoin holds the long term uptrend through the next couple halvings, it'll eventually break down. I don't see why entering a bearish supercycle (years or decade-long bear market) would change the bigger picture though. It's the same thing as the 2011 or 2014 bear cycles, just on a larger scale.

Bitcoin is provably scarce. If the demand keeps growing for such an asset them its value will also keep growing.

But I agree that it will eventually break down, if there was an asset a lot better than Bitcoin. So far, there is none.

Key words: "if the demand keeps growing"

Even if Bitcoin is superior to all other forms of money, it isn't guaranteed endless demand. There is a limit to the amount of value that can flow into BTC, even if that limit is theoretically when every other possible type of money is valued at $0.

In all markets, equilibrium is eventually reached and overall trends reverse. Bitcoin is not immune to that, no matter how good it is.

No, of course not. But observe where we are in terms of rate of adoption. Bitcoin is still very young in that regard.

Plus scarcity, as perceived by us, also increases demand, and Bitcoin is provably scarce.