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Author Topic: I have always wanted to ask this about bitcoin  (Read 538 times)
jaberwock
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February 17, 2023, 03:01:18 PM
 #61

I will still use bitcoin even if it becomes stable but certainly not as much as now. It can be said that, besides the need for profit, today with the loss of trust in banks, people are also starting to value privacy more, so bitcoin will still be an option even if it is not profitable.

Like others, I believe bitcoin will never become stable. Maybe as bitcoin gets bigger, its volatility will be smaller, but it will never be stable, as long as it still makes a profit, the demand for it will always increase.
Not as much as now? So okay what use you are doing with your Bitcoin right now? If you are only using it for investment, then I think you aren't really heavily using it because when you invest, you just let your Bitcoin sit. There are two kinds of Bitcoin users.

One is those who make use of its volatility or those who treat it as an investment asset or trading asset and the second one would be the people who only use Bitcoin as an alternative to fiat for sending and receiving money without restrictions. When Bitcoin becomes stable, obviously there are still people who will use it. Like you I also think Bitcoin will never be stable anymore so us who only use BTC for investment of for trading should not worry.

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February 17, 2023, 03:20:27 PM
 #62

I will still use bitcoin as a safe haven even if it is stable, because bitcoin is decentralized, I can use that utility to protect my assets from government exploitation. Also, I would be looking for an alternative investment to fill the void left by bitcoin. Maybe altcoin or will be another financial market, but I hope bitcoin will never be stable.

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February 17, 2023, 03:20:35 PM
 #63

Each investment asset has price volatility, of course that varies from one to another.
Without the volatility, I don't think bitcoin is a really attractive investment asset for most people. Of course it makes no sense to own one as you can expect nothing from it other than the technology. Traders and investors expect volatility, that's why market capitalization is never stable.

I never imagined that bitcoin would become stable in the future, and I do know that price fluctuations are unavoidable. Traders and investors can expect profits from it, that's how bitcoin gets high interest in the market instead of just the technology.

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DiMarxist
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February 17, 2023, 04:08:14 PM
 #64

I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?
Apart from the prospects of benefitting from bitcoins through investments, there are other uses of bitcoins that still stand out and provide massive benefits. The volatility that people are taking advantage of has been the number one reason why some people started bitcoins, but there are still individuals that still engage the other function of bitcoin, the transactionary function of bitcoin for which it was originally intended for. To these individuals, even if bitcoins stop being volatile, it will not stop them from being interested in it.

Bitcoin does not have a central authority. The bitcoin network is peer-to-peer, without central servers. The network also has no central storage; the bitcoin ledger is distributed till the time the bitcoin market start grow into trillions,the market will remain to fluctuate and it is highly unlikely that the btc market will not be stable to function as currency.I will still use bitcoin because bitcoin can never be stable.Apart from the prospects of benefitting from bitcoins through investments, there are other uses of bitcoins that still stand out and provide massive benefits

lionheart78
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February 17, 2023, 04:46:20 PM
 #65

Will people still use or buy bitcoin till today if all it has to offer is the decentralized characteristic only, I am trying to say that if bitcoin is stable in value from day one and has no investment ability will you still buy it?

People will still use or buy Bitcoin even though it is a stable coin.  Have you not observed that USDT, BUSD, USDC are being used and traded because they have some usage? Besides not all who buy bitcoin are for profit.  Other use it to buy merchandise because their banking system is too strict and give them limitations.  Others even use it to transfer funds or use as remittances to provide help to their relatives  that is on the other part of the globe. 

if all it has to offer is moving money around and no volatility, will Bitcoin be your favorite still? Drop your thoughts and let's see.

Definitely, it is decentralized unlike those USDT, BUSD, USDC, and other stablecoins.

I am thinking that the Volatile is what makes bitcoin a must have for almost everybody, think I am wrong?

And people won't see a reason to buy Bitcoin if there were no Volatility from day one.

It isn't the volatility, instead, the volatility discourages lots of people from holding Bitcoin.  It is the hope that one day Bitcoin will moon that encourages most buyers to hodl Bitcoin.
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