NotATether (OP)
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The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally.
I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.
It is similar to implementing the Euro as the official European currency. By no means were the governments rushed to scrap their central bank currencies, they were give ample time (about a decade or two IIRC) to phase it in, in stages.
So Bitcoin, and anything that wants to follow it in market capitalization, must be introduced to the public in phases, which could take a very long time.
The rest of the altcoins that do not stabilize can disappear (e.g. Solana), I have no pity for them as they only serve to give larger cryptocurrencies (and crypto in general) a bad name in the news.
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laredo7mm
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July 02, 2022, 12:29:53 PM |
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The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally.
I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.
It is similar to implementing the Euro as the official European currency. By no means were the governments rushed to scrap their central bank currencies, they were give ample time (about a decade or two IIRC) to phase it in, in stages.
So Bitcoin, and anything that wants to follow it in market capitalization, must be introduced to the public in phases, which could take a very long time.
The rest of the altcoins that do not stabilize can disappear (e.g. Solana), I have no pity for them as they only serve to give larger cryptocurrencies (and crypto in general) a bad name in the news.
Agree with the fact but how it will be possible when 90% of BTC will be held by big institutes and few individuals in the future. This would be possible if BTC has been evenly distributed or held by people. Whales hold most of the BTC which makes it an ideal asset to manipulate the markets when most of retails investors failed to hold it for long because of their impatience nature.
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NotATether (OP)
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July 02, 2022, 12:40:53 PM |
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Agree with the fact but how it will be possible when 90% of BTC will be held by big institutes and few individuals in the future. This would be possible if BTC has been evenly distributed or held by people. Whales hold most of the BTC which makes it an ideal asset to manipulate the markets when most of retails investors failed to hold it for long because of their impatience nature.
I do not know. But what I do know is that USD and the currencies of oher big economies is concentrated in the hands of billionaires and billion-dolar companies (that's why we call them that), while the masses may have $100, $1000, $10K or perhaps $100K if they are lucky. These economies are run on credit which is basically implying spending money that you do not have in the bank. It creates conditions equivalent to the concentration of money into the hands of few, similar to the economy of cryptocurrencies.
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Zilon
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July 02, 2022, 12:59:18 PM Last edit: July 02, 2022, 03:45:03 PM by Zilon |
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Banishing volatility is similar to killing any form of hypes and sentiments, maintaining a static demand and supply curve as well as ignoring any form of government regulation which is like taking the fun part of investment away from the market with the last factor been impossible. if we consider having this occur naturally then demand and supply curve has to be manipulative. As long as users and price keep maintaining infection point at interval prices will never stabilize. Bitcoin is already a big shock to the society as such it is almost too late to start a gradual introduction because many who were misinformed has the mindset that bitcoin is a get rich quick scheme. If altcoins that fails to stabilize disappears the chances of recording more suicidal case might be on the increase.
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Don Pedro Dinero
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July 02, 2022, 01:34:28 PM |
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The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally.
<...>
It is similar to implementing the Euro as the official European currency. By no means were the governments rushed to scrap their central bank currencies, they were give ample time (about a decade or two IIRC) to phase it in, in stages.
<...>
I don't quite understand the parallel between the Euro project and Bitcoin, as they are two completely different things. The Euro project was centralised, and although some countries had high inflation compared to others, the volatility is nowhere near as high as that of bitcoin. Bitcoin, on the other hand, is decentralised, so I don't see how it can be: introduced to the public in phases, which could take a very long time.
I agree with the general idea. The price of bitcoin will stabilise, and it has probably started to do so this cycle compared to previous ones but in 2 or 3 more cycles I think volatility will naturally decrease quite a lot.
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Lucius
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July 02, 2022, 01:49:26 PM |
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The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally. --- So Bitcoin, and anything that wants to follow it in market capitalization, must be introduced to the public in phases, which could take a very long time.
If you look at Bitcoin from a currency perspective, volatility is something that is a really big problem in the sense that sellers don't want to accept something so volatile as a payment method without using payment processors. On the other hand, most of those who are interested in Bitcoin for speculative reasons want as much volatility as possible because that is how they can make a profit. There are opinions that this volatility will decrease in the future, but I believe that we can never completely eliminate it because there will always be those who can influence it. An open market will always allow someone to buy or sell large amounts of Bitcoins and thus affect the price. The rest of the altcoins that do not stabilize can disappear (e.g. xxx), I have no pity for them as they only serve to give larger cryptocurrencies (and crypto in general) a bad name in the news.
That market will always be profitable for some (those who sell ideas about better cryptocurrencies) and for those few who know how to use it - but of course it will generally cause more harm than good, as you say. We cannot say how much the last scandal with stablecoins contributed to the current situation, but there is no doubt that it once again cast a negative light on Bitcoin.
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Jemzx00
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July 02, 2022, 02:21:22 PM |
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The volatility of bitcoin is one of the reason why more and more people are into it as it is being taken as an investment by majority of people. Also, it'll be hard to control the stability of BTC price as it is decentralized and the market has been held by various holders that tons of bitcoins or whales. Another aspect that we will need look into is the limit of bitcoin as we still haven't reached the limit of bitcoin to be mined.
But yes, in case volatility will be erased or removed from Bitcoin, surely more people and association will incorporate bitcoin and crypto payment on their platform or company. By then, we can proudly say that bitcoin (without any doubt by other people) is a currency.
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Leviathan.007
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July 02, 2022, 02:23:55 PM |
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There is not any must whenever you are talking about the bitcoin market especially about the price because the price comes from the supply and demand and since these two are changing and are not stable the price won't be stable either. NI the other hand we can't forget about the age of the market, and since the market of bitcoin is much younger than other markets such as gold and real estate there will be less stability in the price on it, but even on the unstable price education if you have a proper money management plan and stick to it you won't have any problem with the stability of the price of bitcoin.
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Botnake
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July 02, 2022, 02:32:18 PM |
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Only when it's more regulated and the adoption gets bigger will the market will be stabilized.
With lack of regulation, these whales will try to manipulate the market for them to gain from the ignorance of some investors, especially the newbies who easily get panic when the price dump, so as long as they will not learn from their mistake, these manipulators will continue to take advantage.
However, if the government will come into play, I think that's where the market will become less volatile until it will achieve stability.
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Doan9269
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July 02, 2022, 02:37:14 PM |
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The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally. if this is done, how is bitcoin going to make a difference from other forms of asset and currency both CBDC and in fiat, i think volatility is one of the standards to profitability as the demands and supply rate determines the shift of them both, while some are gaining some may not due to volatility, the market can't be on a fixed price even when the whole remaining blocks have been mined. The rest of the altcoins that do not stabilize can disappear (e.g. Solana), I have no pity for them as they only serve to give larger cryptocurrencies (and crypto in general) a bad name in the news. you're right, even without bitcoin been stabilized those other currencies are finding it hard to stay amidst dip volatility just as in the case of Luna, many will still emerge shitcoin which they truly are.
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kryptqnick
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July 02, 2022, 03:34:49 PM |
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I agree that a more stable price is desirable in the long run. However, I have a couple of notes here. One is that fiat has an authority that can manage it, whereas Bitcoin is and will most likely remain under nobody's control. So how can we make the price more stable, or do you believe it will get there on its own? The second point is about introducing Bitcoin in stages. Again, something like a big company getting involved with Bitcoin happens, the media spread the news, people find out about Bitcoin and some get interested. It's not a process which is under control. Nevertheless, it seems to me that in practice Bitcoin is sort of being introduced at stages this way, but it does nothing to help stabilize the price.
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DVlog
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July 02, 2022, 03:55:14 PM |
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Do you know why the number of new investors in the BTC market is increasing? It's because of its volatility. People who want to try their luck and have enough courage to take risk comes to the BTC market. Though 90% failed to gain from BTC markets but the massive gain of the remaining 10% people attract more investor to this market. People only see the success story.
If BTC wants to be the primary method of business transaction then it needs to be stabilized. Without stability, BTC will not be appropriate for mass adoption because it will be very risky and unsustainable for the economy. I really doubt that BTC will take the place of fiat though I believe fiat will be replaced in the future by some unknown assets. It could be something like BTC but not BTC itself.
I think that way because the world will never see a decentralized powered community and as long as there is some sort of central authority they will try to control the economy by showing people how decentralization could lead us to a lawless society.
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Wexnident
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July 02, 2022, 04:48:41 PM |
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Agree, though completely removing volatility may be impossible though. There might also be cases where big companies that hold big amounts of Bitcoin could temporarily fluctuate the market and if that happens, even if Bitcoin was volatile for a certain period, it wouldn't really appeal as a properly stabilized currency On the other hand, Stabilization would seem to include it being regulated (not banned) which may not appeal to some of its enthusiasts. if this is done, how is bitcoin going to make a difference from other forms of asset and currency both CBDC and in fiat, i think volatility is one of the standards to profitability as the demands and supply rate determines the shift of them both, while some are gaining some may not due to volatility, the market can't be on a fixed price even when the whole remaining blocks have been mined.
Decentralization. Volatility isn't even a main feature when it comes to Bitcoin, it's just a natural event due to supply and demand.
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fiulpro
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July 02, 2022, 05:55:26 PM |
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I do consider the volatility as an asset therefore I do not understand the concept of stabilization for Bitcoins and other cryptocurrencies as well, I do think that most of the investors are in this market because of the volatility that exists, I do think that companies with big amount have huge power over bitcoins they are the whales in the market as well which also means that they would eventually try and exert this control if the market moves close to stabilization therefore what do you think would happen? They would eventually lead the whole market into oblivion. I think volatility is indeed an asset that needs to be preserved.
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Smartvirus
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July 02, 2022, 06:14:28 PM |
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The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally.
I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.
It is similar to implementing the Euro as the official European currency. By no means were the governments rushed to scrap their central bank currencies, they were give ample time (about a decade or two IIRC) to phase it in, in stages.
Exactly! You know, bitcoin have got a pot of work to do on itself and that I partly what the volatility part is helping it to archive at this day stage. It's It's a decade already and would seem like a long time but given the years ahead, it's only normal to think of it to have just begun. Waht we ought to realise is that, bitcoin was supposed to serve as a currency of the web and this purpose would be surely archived universally when the time is due. Its stability would be a very good place to start bit before that comes, it's got volatility to ensure users jump on the train and gets to understand I a lot more. I once came across a meme about the fiat dollar that carried the caption, where we've been and where we are now. From what was understood, $1 had it's equivalent value in gold stored away but now, the $ has become the world reserve currency and needs no gold backings. That's the point bitcoin would get to the the future. Lest just enjoy the carriage as it goes.
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coupable
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July 02, 2022, 06:19:08 PM |
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Like any other product, its price will go to stability with the expansion of its spread among users and not be in the hands of a single authority capable of manipulating it. Just like with all traditional currencies that we consider stable. The biggest problem, in my view, that will face this stability resulting from a wide distribution of a very limited amount of bitcoin in its total number, is that it does not accept splitting into more than eight decimals. So imagine if one satoshi equal to 10$ (likely possible t happen sooner than expected) then how becomes possible for the community to share the held while we intend bitcoin to replace Fiat money.
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Pomogator
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July 02, 2022, 09:45:03 PM |
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Like any other product, its price will go to stability with the expansion of its spread among users and not be in the hands of a single authority capable of manipulating it. Just like with all traditional currencies that we consider stable. The biggest problem, in my view, that will face this stability resulting from a wide distribution of a very limited amount of bitcoin in its total number, is that it does not accept splitting into more than eight decimals. So imagine if one satoshi equal to 10$ (likely possible t happen sooner than expected) then how becomes possible for the community to share the held while we intend bitcoin to replace Fiat money.
I think that the concentration of a large number of bitcoins in one hand will continue for a very long time. The whales understand that now they can control the rate and mood of bitcoin, they will not lose faith in it. I don’t know how much time must pass for them to stop believing in him, perhaps some events must occur.
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Findingnemo
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July 02, 2022, 10:15:53 PM |
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Eventually it will, because the price depends on demand and supply so if more people buying it then the manipulating its price will decrease so over time when everyone have some bitcoin in their wallet then it is supposed to be spread over not in the few hands so it eilk be really used for its actual intention but even now we are too far from attaining that state.
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boyptc
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July 02, 2022, 10:16:29 PM |
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Volatility will remain but I get the point that someday that it won't be as volatile as it is right now and also for the past years.
When the consolidation is done, there will be more people that shall run over bitcoin and will choose it rather than diversifying their assets for different altcoins.
They'll see more risk there than owning bitcoin so they're going to choose that someday. Yeah, it's going to take a long time before we see it stabilize somehow and I think this was discussed before.
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STT
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July 02, 2022, 10:24:30 PM |
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Some of this volatility is external is how I see it. The world is full of it as part of easy monetary policy and debt financing. The EURO isnt achieving some perfect statehood, they will end like YEN is now with great doubts for the giant amount of debt taken on that is not serviceable. Get used to excessive inflation for years into decades of instability. BTC stability will happen with the largest amount of potential buyers possibly, part of why price drops must occur and are healthy is that it widens the base of support from potential users more able at that lower price. Probably applies to commodity use of any asset but naturally BTC will continue to increase its population and so we should see more certainty in pricing from wider bid offer order books and general usage in exchange for good worldwide.
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