What update bitcoin needs to be the global stable coin?

[CrashVisualBasic]

If your widthdraw is limited to the amount of money that you invested + each day x 1000 dollars on winnings, will this make bitcoin more stable forever?


Day 1 you invest 1 million dollars in 2 bitcoins, days later bitcoin worths 510000 each

Day 2 you own 1.020.000 dollars now, but due is day two, you can retrieve all what you have invested + 1000 dollars because already the blockchain checked that since your last amount deposited passed 24 hours, then you are able to retrieve more

this number 1000 dollars each day and a consecutive increase by day could be 1000 dollars or a % like 0.05% of your base investment "5000 dollars taking 1 million"

by this way, nobody can collapse or abuse in winnings, and "every cpu has a vote" literally, i mean, everyone that is in crypto, is there, to always win thanks to its contribution

thoughts? any way to improve this mechanism to turn bitcoin in an stable coin forever?

[Charles-Tim]

If you want to invest in bitcoin, let us know the platform you want to do that because you can be scammed. Avoid many sites, there are many of them that are hyip or scammers that will completely go away with your money as you invest.

Know that 1 BTC is equals to 1 BTC, if the coin increases more in value as it is compared to fiat, then your asset worth proportionally increase more in value because it is bitcoin. The calculation will be in bitcoin, not fiat.

[NeuroticFish]

If your widthdraw is limited

Bitcoin has no design related to how much it should cost. So what you seem to propose/dream of is some sort of manipulation of the free market.

Well.. bad news: there will always be exchanges that won't obey your "rules" and there will always be entities (people, companies) who will want to acquire more bitcoin (whether from exchanges, or from other entities), or there will be people working for it, there will always be entities selling bitcoin (either on exchanges, either directly p2p). There's literally no way to really restrict anybody from buying or selling bitcoin.

Sorry, as you see, what you propose is highly unrealistic.


PS. You said "stable coin". Stable.. compared to what? Other fiat currency? Which would be that and why? Or maybe gold? Or...? (In reality no financial value is really stable..)

[BlackHatCoiner]

thoughts? any way to improve this mechanism to turn bitcoin in an stable coin forever?

It'll never be a stable coin, because there's nothing stable in the nature to begin with.

Stable.. compared to what?

Exactly.

Stability is synonym to "resistance to change". But, according to what? Bitcoins don't change and neither does their supply. The only thing that does change is the demand. But, if you change the supply according to the demand, so the price remains somewhat stable, then you make it susceptible to censorship. One party needs to be responsible for this job, and history has shown that whoever was, abused it.

[ChrisPop]

Bitcoin does not need to become a stable coin.

What it needs is to be accepted as a global mainstream currency. For that to happen we still have quite a road in front of us.

Just by saying stable you're probably referring to a currency that is stable in report to another one. Bitcoin hasn't been created to be an asset, but instead become a global p2p network where people do not need to depend on a middle men if they want to make a transaction.

[Upgrade00]

Bitcoin does not need to be updated to a global stable coin, that's not what it was designed to be. We should all stop acting like there's a flaw in the Bitcoin protocol which needs fixing, so it can conform more to how fiat operates or other assets the world is used to.

If you're interested in owning Bitcoin go to an exchange, preferably a P2P one and buy one, then get a reputable wallet to store it while saving your backups,
But, if you think the current system is not convenient, you can look for other assets. There are stable coins out there which you can go for.

[bitzizzix]

Never, it is market driven and markets reflect the underlying dynamics of an ever changing world, so bitcoin will be fickle and that is the beauty of it.
bitcoin does not have a mechanism to stabilize prices in some reference currency or its purchasing power, the difference between bitcoin and fiat money is not only volume but asset support and willingness to use the asset to ensure value.
and the method you mentioned is only applicable for big investors or whales though its not sure and i don't know what platform you want or what exist such.

[jackg]

At some point that might be the case but I think bitcoin will remain volatile for a while.

The greatest thing that'll make it more stable will be time. After a few more runs it'll probably level off somewhere more stable and go up and down like currencies do. Things that hedge against inflation often don't strictly follow it as a hedge (some can do better short term and some can do better long term).

[Despairo]

If Bitcoin already become stable coin, then I would sell all of my Bitcoin before it will become stable coin because anything that can be controlled is centralized!

Stable coin work because there's a centralized party who control the price, if the price exceed from the maximum price that they allow, they will mint new coin to make the supply increase and make the price decrease. If the price is to low and didn't reach the minimum price, they will burn their coin to make the coin price increase due to scarce.

[mk4]

You can't force a price of an asset to stay at a certain price; unless it's centralized like a fiat-backed stablecoin. Bitcoin will stay volatile for a good while, and nothing is going to change this besides time. A perfect example would be gold.

[Tony116]

Bitcoin does not need to become a stable coin.

What it needs is to be accepted as a global mainstream currency. For that to happen we still have quite a road in front of us.

Just by saying stable you're probably referring to a currency that is stable in report to another one. Bitcoin hasn't been created to be an asset, but instead become a global p2p network where people do not need to depend on a middle men if they want to make a transaction.

That was the original goal of bitcoin, to be a currency with peer-to-peer transactions without having to rely on a third party in order to move money. But how can bitcoin become the currency of the world when its value fluctuates. One more thing, it must be admitted that bitcoin is increasingly being viewed as an asset class, a speculative asset class with the expectation of generating great returns. In my opinion, bitcoin is a currency, but it is also an asset, it depends on the needs of the individual.

[franky1]

even if you tagged code into the blockchain to suggest an offer price people may still not agree on that because someone acquiring coin in one country have a different price point than another country.


bitcoin does have a very smooth and slow progressive value underlying bitcoin price. but doesnt need this value to be 'tagged' into the code of a block template.

the price point of yesterday, today and tomorrow are based on markets of individuals.

however market prices are above this value. and they are not stable and wont be stable, due to speculation

not all people of all countries can acquire bitcoin at its value(most efficient cost). different countries different people have different costs above the bottom and so each person then assigns their own preferred price point where they see as reachable.

EG kazahkstan see the price vs value as being equal/profitable to sell where as japan whose normal costs are higher see bitcoin as incredibly cheap to buy.

for each buyer wanting to buy low and each seller wanting to sell high. there will never be a unanimous agreement.
..

..
another option think about would be to 'decouple' bitcoin from the dollar completely and change market measures to being something like 'minimum wage units' where people make bids and asks measures in seconds, minutes, hours. instead of cents and dollars.
that way all countries can all equally buy bitcoin at the same rate(same real life labour/time), thus equalling out the imbalance of different countries price points..
EG every country would buy 1 bitcoin for say 1950 hours today. which then gets translated to their local currencies amount of local currency they would have to pay

EG US $10/hour = US pays $19,500 for 1btc
EG INR 22.5/hour - indians pay $595 for 1btc

both of which is equal and fair in their regional areas as its the same labour and time they spend investing.
which can then make bitcoin more stable.. while then causing the disruption and volatility on the wallstreet forex instead, by making countries play the forex markets for arbitrage to profit from.

but we all know countries would see that as a 'national security' attack on the fiat system. so thats a pipe dream too

[hatshepsut93]

Bitcoin protocol doesn't know anything about Bitcoin's price and can't possibly know. Putting artificial blocks on sells is not going to work and in general is bad idea, it's the same thing that some governments practice to save their fiat currency from devaluation - it only results in parallel markets and further instability.

Stop thinking how to make Bitcoin stable, Bitcoin wasn't created to be stable, it was created to be free.

[boyptc]

thoughts? any way to improve this mechanism to turn bitcoin in an stable coin forever?

It won't happen, never.

Know that bitcoin is volatile and is a PoW based consensus algorithm. What will make bitcoin change into a stable coin? Nothing, that's why there are stable coins already because that's what they think about it.

But if you're thinking about the stable price of bitcoin someday, who knows? When majority of the coins are gone and it's only bitcoin remaining with a few strong alts, maybe that day can finally happen.

[Christopher Andrews]

Imo, bitcoin can not be stabilised due to its decentralized nature. Bitcoin is a private sector asset and the different segments of crypto including bitcoin also known as stablecoins are not related with the complex and persistently evolving environment.

[worle1bm]

Bitcoin can't be a stable coin as it's not designed for the same and prices are based on demand and supply curve and there will be volatility for it in the market as low demand will push prices down and vice versa.There is no central backing up to fix it to somewhat stable and it's not needed at all but I could say in future the volatility could be less.

[pooya87]

thoughts? any way to improve this mechanism to turn bitcoin in an stable coin forever?

Name a single currency in the world that is like this where you "win" money by "investing" in that currency (like US dollar) and then we can talk about whether your idea here would make bitcoin a stable currency!

[davis196]

Bitcoin is not a bank. You don't depost and withdraw money in Bitcoin the same way you deposit and withdraw money in a bank.
Crypto exchange platforms have some similarities to banks, but don't compare Bitcoin to a crypto exchange platform.
What you are describing looks like a proof-of-stake concept. If you want proof-of-stake then just use PoS altcoins.
Is there a need for Bitcoin to become a stablecoin? I don't think so. You can't have high profits and a stable price. You can't have the cake and eat it at the same time. High profits mean volatile price. A stable price means very low profits or no profits at all.
If you want a stablecoin just use stablecoins or fiat money.

[hd49728]

What do you think about Bitcoin?

An investment asset, a speculative asset, a store of value, a stable coin. Any of them has related meaning and use case for you. If you are an investor and you want Bitcoin to be a stable coin, you will not get any profit from a stable coin, will you?

Investment means buying something and believing that it will rise in value. Nothing can rise in value forever. Corrections are unavoidable and if there are corrections, it is not stable.

[Afterclap]

Well, the volatility of BTC is not a threat in my opinion. It is what allows making profits later on. Crypto currency is different from any other investments but has more potential for profits too. But I agree that stability will make the mass adoption of BTC easier. Still we have a long way to go to reach that point.