When Bitcoin will become stable currency?

[Godday]

I've always seen Bitcoin as an asset, not money. My point is that the price of BTC is unpredictable so it cannot be said that it has a stable price. I instead think that BTC is not stable in its price.
Because the price of BTC is greatly affected by how much demand there is in the market and it adheres to a basic economic law that I think we all learned in school.

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[crypticj]

Bitcoin can not be a stablecoin, but they are many stable Coins or stable currencies because Bitcoin is created to make a difference in the cryptocurrency market, which has many benefits and profits attached after a short or long time investment for profits return, based on the price of purchasing.

I not saying that it should become stablecoin, but I mean It should be stable enough for more people to use it as money.

Bitcoin wasn't created exclusively as an asset in the first place, people made it an asset in the process. It was the money of freedom, the one that you can use without the banking system.
That's why I'm interested in what's gonna happen to Bitcoin next, will it become a new way or payment or it will mostly stay as an asset?

Thank you for your comment

I've always seen Bitcoin as an asset, not money. My point is that the price of BTC is unpredictable so it cannot be said that it has a stable price. I instead think that BTC is not stable in its price.
Because the price of BTC is greatly affected by how much demand there is in the market and it adheres to a basic economic law that I think we all learned in school.

Agree. That's why I don't get it when maxis are saying that soon everyone gonna pay with bitcoin for everything

[moderator's note: consecutive posts merged]

[sokani]

Bitcoin is not stable and can never be stable in the near future because it was never created to be stable and that's one of it's uniqueness. The price is controlled by supply and demand. Whenever investors exit their positions by selling their assets and new investors take over these positions, this cause a ripple effect on the market price, which we may call the up and down movement of the chart.

[karmamiu]

I've always seen Bitcoin as an asset, not money. My point is that the price of BTC is unpredictable so it cannot be said that it has a stable price. I instead think that BTC is not stable in its price.
Because the price of BTC is greatly affected by how much demand there is in the market and it adheres to a basic economic law that I think we all learned in school.

Agree. That's why I don't get it when maxis are saying that soon everyone gonna pay with bitcoin for everything

Although Bitcoin was initially made as a currency that has some aspects of a store value/asset due to its volatility, nowadays it leans forward to an asset since we all know how much it started before compared to the price today. It's not their fault that some people treat bitcoin as a currency, but the thing is most people are taking advantage of the price fluctuation which is only additional benefit of bitcoin in the first place, and it is also a way to earn or lose some quick cash. They might keep on asking when will it be stabilized, but if it is stabilized would the impact of that still the same? They might even see this as an extremely rare currency or like a collectible since there are only limited supply in circulation, and I don't think most people that are not that wealthy enough would be able to buy a piece of it or even satoshi coz for sure it'll be sold as a whole or one.

[Road21Bitcoin]

I was thinking about Bitcoin as a currency a lot lately and I have some doubts about how currently we see its future.

The problem is, in order for Bitcoin to become a currency everyone will use, it should be stable. I know that you might say that people will still use it because it's not about stability, it's about freedom and technology. I agree with that, but Bitcoin needs to be stable in order for people to treat it like money, and not like an asset.

Just look at what people are saying right now, experts say that people shouldn't hold USD because inflation is just 5% a year, but imagine if you have bitcoin that can go down like 5% a day because some whales sold it. It will be problematic for people to use it on a daily basis because of that.

I know that people say that when Bitcoin will be adopted, it should become stable because there is a limited amount of it, but I don't see how it's gonna happen. From what I see people treat bitcoin as an asset to invest and hold and I can't imagine that will change in the future.

Why do you guys think Bitcoin will really become the "money of the future" and people will actually use it like one?
From what I see, I think it's possible that people in the future will still trade bitcoin or try to buy as much of it as possible to manipulate the market.

At this point, its volatility is what makes bitcoin BTCitcoin lol

But seriously speaking, if Bitcoin is stable then there may not be a need for it. If it was stable, then might as well use fiat. Though to be fair, Bitcoin was currency first before it was an asset, an investment, something to profit from.

[Iadegbola34]

It's important to note that Bitcoin is still a relatively new technology and is undergoing constant development and improvement. While it may not be stable enough for widespread adoption right now, there are efforts underway to make it more stable and usable as a currency.

One approach to achieving stability is through the development of stablecoins, which are cryptocurrencies pegged to a stable asset such as the US dollar. These can be used as a medium of exchange for everyday transactions, while Bitcoin can be seen more as a long-term store of value or investment. Additionally, as more businesses and individuals adopt Bitcoin, its liquidity and stability are likely to improve.

Ultimately, whether or not Bitcoin becomes the "money of the future" is difficult to predict, but there are certainly strong arguments in favor of its continued growth and adoption. As with any emerging technology, there are risks and uncertainties, but also great potential for innovation and progress.

[glendall]

it will never be a stable currency because btc has a limited capacity and there will be no additions, this will affect the value of btc itself in contrast to fiat which currently has a fixed value and always increases its circulation

[Gervunt93]

Bitcoin can become stable only when each one of us stops measuring it in USD/CNY/RUB/whatever currency. It can be paired with eth and other cryptos though. Imagine 1 BTC = 1 house, while 1 eth = 1 Tesla. Only then it may become somehow stable. Until then, it's just a speculative asset, targeted to either gamble or destabilize the world economy.

[umbara ardian]

Even if bitcoin's market cap grows to billions of dollars, it is highly unlikely that it will ever become stable and act as a currency. Because people can always pay in cash with no change in value (stability). In addition, at the present time, there are still many countries that do not want to support the development of bitcoin as a currency because of its general decentralized nature and because its liquidity at the moment is much worse than fiat. However, if bitcoin is scalable and liquid enough, the price will be stable, less volatile, and less likely to be touched by anyone.

[panganib999]

It’s gonna take a long-ass time before bitcoin even showed any semblance of being a stable currency. Right now its volatile nature is its most sought for feature, given the fact that it grants profits of immense value to people across the world. To rid bitcoin of its volatile nature means losing this profitability too, which I don’t need to tell you, will cause utter chaos and disarray amongst the people in this industry.

Besides, I don’t see the volatile nature of bitcoin becoming a hindrance to it becoming a global currency. Right now we can use it for currency stuff like sending money everywhere in the world, as well as payment for stuff on the internet. So what do we really need bitcoin becoming stable for? To receive favors from countries who wouldn’t accept it due to regulation issues? The drawbacks outweigh the benefits.

[Meild_09]

Bitcoin will become stable when it will be regulated by the state, but the price and demand for it will fall heavily, because, that is its uniqueness

[irhact]

Bitcoin has its value and is convertible into any currency people want, so I don't think it's going to have to become a fiat currency, like gold or many other asset of other value one can use fiat to trade them with each other.
I don't think of a future where there is only one common currency, but instead a harmony of valuable assets, the volatility of bitcoin against fiat will forever be, and indeed people will still use it without its stability.

At a point in history, Bitcoin would stop been very volatile and this might happen when all the Bitcoin that could be in existence has been mined but that's isn't not anytime soon therefore we should stop expecting Bitcoin to ba any stable in the next few years. The volatility is what's bringing investors into the market and making it very profitable to invest.

Bitcoin can become a global currency but to achieve that it'll need lots of adoption which the government aren't allowing to happen with their anti Bitcoin laws. Bitcoin could have easily replace US dollars for the Russian deals that are going on but it's too early.

[JayTrain]

It's understandable to have doubts about Bitcoin's future as a currency. Stability is a crucial factor in establishing it as a widely accepted form of money. While its potential for freedom and technology is promising, the volatile nature of Bitcoin's value could deter people from using it as everyday currency. It's hard to imagine a scenario where people stop treating Bitcoin as an asset and start using it as money. It remains to be seen if Bitcoin can overcome these obstacles and become the money of the future.

[Bushdark]

I've always seen Bitcoin as an asset, not money. My point is that the price of BTC is unpredictable so it cannot be said that it has a stable price. I instead think that BTC is not stable in its price.
Because the price of BTC is greatly affected by how much demand there is in the market and it adheres to a basic economic law that I think we all learned in school.

Cryptocurrency can be if two types, is either the price is volatile or stable and Bitcoin falls on the volatile cryptocurrency since the price is very volatile. If Bitcoin price was said to be stable then many of us would not be holding Bitcoin at all. It is volatile that is why we see it as na investment opportunity for us when the price suddenly increases giving us a good profit we can rely on. We still stable coin which are usually begged to the usd dollar like the USDT, BUSD and others that are in the market. There price are always constant because they are not meant to be volatile.

[serjent05]

Bitcoin can not be a stablecoin, but they are many stable Coins or stable currencies because Bitcoin is created to make a difference in the cryptocurrency market, which has many benefits and profits attached after a short or long time investment for profits return, based on the price of purchasing.

I not saying that it should become stablecoin, but I mean It should be stable enough for more people to use it as money.

Bitcoin will be stable enough when massive adoption happen and the scalability of Bitcoin is not a problem at all.  In due time, when merchants and citizen of the world accept and use Bitcoin, it will be stable enough for more people to use it as money.

Bitcoin wasn't created exclusively as an asset in the first place, people made it an asset in the process. It was the money of freedom, the one that you can use without the banking system.
That's why I'm interested in what's gonna happen to Bitcoin next, will it become a new way or payment or it will mostly stay as an asset?

Thank you for your comment

True but as a currency and has value it can be labeled as an asset since an asset according to google is defined as a useful or valuable thing.

[Faisal2202]

The problem is, in order for Bitcoin to become a currency everyone will use, it should be stable. I know that you might say that people will still use it because it's not about stability, it's about freedom and technology. I agree with that, but Bitcoin needs to be stable in order for people to treat it like money, and not like an asset.

Well, your concerns are not unique many have shared their confusion before on these topics. So I will try to cover your queries one by one.
1. You should know the difference between currency (money) and assets, i know you are well familiar with it but the point is you should also be familiar with different groups of people who take a thing that you use to buy or sell in exchange of another thing or services, etc. as assets or as money. (it depends on the use of it) like for fiat, many hold it too like assets. isn't a form of money as assets. And at last, what if people don't want BTC to be stable, do you know why because its volatility made many poor, rich. And i also accept that sometimes high volatility is not good but volatility is everywhere even in fiat.

Just look at what people are saying right now, experts say that people shouldn't hold USD because inflation is just 5% a year, but imagine if you have bitcoin that can go down like 5% a day because some whales sold it. It will be problematic for people to use it on a daily basis because of that.

2. You said Whales are like selling BTC and dumping 5% a day of BTC which makes traditional people unsafe to accept it. Now, my question is, if whales are selling BTC then there is someone on the other side buying it too, As we all know matter cannot be destroyed it can be reshaped from one form to another. SO if Whales are selling then someone else is buying and this might dump the market (but only for a while which also provide good opportunities to many traders and holders).

Why do you guys think Bitcoin will really become the "money of the future" and people will actually use it like one?
From what I see, I think it's possible that people in the future will still trade bitcoin or try to buy as much of it as possible to manipulate the market.

3. Well, the reason of thinking BTC as future money is quite simple, i have watched so many futuristic movies and from my perspective, i have seen most of them are coming true, i am talking about technological movies, and one thing was digital world, which already came in the form of metaverse and when it comes i was assured that BTC has made its future, because digital world need digital currency, and BTC is the king and old ones so it should be preferred more. Manipulation is still happening now and it's not limited to BTC only as fiat is also facing manipulation, i have made a topic on Is Bitcoin truly free of Pump and Dump Schemes?

[crypticj]

At this point, its volatility is what makes bitcoin BTCitcoin lol
But seriously speaking, if Bitcoin is stable then there may not be a need for it. If it was stable, then might as well use fiat. Though to be fair, Bitcoin was currency first before it was an asset, an investment, something to profit from.

I agree, but my point is that I don't understand why maxis are saying that bitcoin will become "the world's new currency". No one will use it like money if it won't be stable to some extent.
So yeah, I totally agree with you.

First of all, Bitcoin is not a currency to be precise. Moreover people use Bitcoins as an asset and use it to make profits. You can take Bitcoins as gold, like in earlier days people used to trade things, like they give their golds, to get rations etc, similar thing happening with Bitcoins also. But this doesn’t make Bitcoins as currency. Moreover there are fixed amount of Bitcoins already broadcasted in the network, so this mean if people’s demand increases to acquire more Bitcoins, then the price will keep on increasing. So Bitcoins never settle at any fixed price.

But they used gold because its price was stable. Yes, it was growing over time, but it wasn't dropping like 5% in one day. So I don't think bitcoin is like a modern gold, the fluctuations are too severe.

And I don't think that Satoshi thought of bitcoin as a new asset to invest in. The idea is that you can't print bitcoin so it won't lose its value completely, but it doesn't save it from fluctuations.

[moderator's note: consecutive posts merged]

[Victorik]

BTC is an asset and as such, it can't be stable. The prices of assets are never stable, they are either up or down. For instance, consider the price of gold, it is never stable, it is either up or down.
So why would anyone wants BTC to be a stable coin. It's not possible. It can never happen. 

[AnonBitCoiner]

There is no doubt that bitcoin is used as a currency for enhancing the worth of their money as well as a payment system but as we talk about its stability so its does not seems to be stable ever because if it becomes stable then due to its higher price people will not be able to buy it and there will always be a positive results for its holders.

Bitcoin main characteristic is its unstability so due to this feature the bitcoin is accepted in many countries as a store of value. Bitcoin is fluctuated greater in many aspects so whenever it become low or higher so both situations are favorable like lower value is suitable for its buyer and higher will be situated for its holders.

[Ataiwo913]

BTC's unpredictable price is also a positive attribute that Bitcoiners like. you can make money out of this inflation. but BTC may not become stable due to the cycles, when the cycles probably are over like all 21M coins are already mined, i think there will be a stability of price.

It's difficult to predict when or if Bitcoin will become a stable currency. Bitcoin's value has been highly volatile since its inception, with frequent price fluctuations that can be influenced by a wide range of factors, including market demand, regulatory changes, and global events.

One of the key challenges for Bitcoin as a stable currency is its limited adoption and use as a medium of exchange. While Bitcoin has gained popularity as a speculative investment and store of value, its use in everyday transactions remains relatively limited.

That being said, there are ongoing efforts to address some of the challenges facing Bitcoin and other cryptocurrencies in terms of stability and usability. For example, the development of stablecoins, which are cryptocurrencies pegged to the value of a stable asset such as the U.S. dollar, could potentially help to reduce volatility and increase adoption.

Ultimately, the future of Bitcoin as a stable currency will depend on a wide range of factors, including technological advancements, regulatory developments, and broader shifts in the global economy.