Let's Stabilize Bitcoin

[Dr.Bitcoin_Strange]

OP, Bitcoin was not designed to be a stable coin or asset, and trying to change that now is going to definitely cause a new problem. Perhaps Bitcoiners are used to how the asset is, in my opinion, Bitcoin doesn't need to be a stable coin in order for it to be really adopted by any individual or business. Although there is no cryptocurrency that can be compared to Bitcoin, the truth is that we have fiat and other stable coins, so anyone looking for a stable coin can possibly still hold their funds in fiat. Bitcoin is an asset that doesn't depreciate in value and isn't affected by inflation, but if Bitcoin becomes a stable asset, it would not really get the attention of an asset that can be very profitable; Bitcoin is just cool the way it is.

[yhiaali3]

The first step to stabilizing the price of Bitcoin is to stop measuring it in dollars or any other fiat currency, but this is a long way off at the moment.

If Bitcoin is not measured in dollars, what standard will we use to determine the price of Bitcoin? Even if this standard is acceptable in one country, it will not be acceptable in other countries. We need a unified global standard that is accepted by all countries of the world, and this will not happen unless the collective adoption of Bitcoin by all governments around the world.

This is theoretically, but in practice it is almost impossible, because there are many factors and variables that prevent the stability of the price of Bitcoin, and there are many people, you can even say the vast majority of them, no longer want or care about the stability of the price of Bitcoin.

It is highly unlikely that your statement will ever materialize, bitcoin assuming the position of fiat as a universal measuring unit is simply impossible. That will only happen if the government finds a way to control bitcoin and they still care about bitcoin.

When talking about bitcoin becoming a currency, everyone wants it to be used as a currency, but when talking about bitcoin's stability, no one wants that to happen. This is quite a controversial issue for any of us. We all want to maintain bitcoin's volatility and want it to become a currency, that will never happen.

Yes, I know that it is highly unlikely. I mentioned in my post that this is theoretical, but in practice it is almost impossible, because no governments will accept Bitcoin because it is decentralized, and investors no longer want the stability of Bitcoin at all. They make profits from these fluctuations, so why do they want its stability?

Yes, this is a controversial issue because we want to get global adoption and at the same time we want to continue to get profits through volatility, this contradiction cannot be solved simply!!!

[michellee]

Bitcoin prices will remain volatile. Traders won't like it if Bitcoin prices are stable or stagnant and don't change up or down because they can't take advantage of the price difference. And if the price of Bitcoin stabilizes over the long term, it won't be a good investment anymore.

lol of course , who and what will use to trade if there is a stable price? and also this is the reason why we are all here, because of the volatility and the chance to earn .

No one will want to use Bitcoin if the price is stable because our goal is to profit while saving Bitcoin for the future. And it's because of the volatility that many people are coming to Bitcoin looking to make a profit.

And even though Bitcoin will become an alternative means of payment, its price will remain volatile. Even the stablecoins you know are unstable and prices keep changing.

not untill all bitcoin were mined ,then there will be maybe that price will be stable and altcoins may remains volatile.

After all Bitcoins are mined, Bitcoin price may stabilize and Bitcoin will be on top. All currencies will have Bitcoin as the standard of exchange instead of using Dollars, Euros, Yen or Yuan.

When the price of Bitcoin stabilizes, people will no longer be interested in investing in Bitcoin or trading Bitcoin because they can't make a profit. And chances are people will leave Bitcoin because it is no longer attractive to be a way to make a profit. They will look for others who are more promising.

wrong again people will not leave bitcoin just because the price is stable, instead bitcoin will remain as secondary if not the net generation currency .

I mean that leaving Bitcoin is not that they leave, but they still use Bitcoin as a financial pinnacle. They will look for others that can provide benefits. Maybe they will use the BTC-Altcoin pair when the Bitcoin price gap narrows or they can't make a profit like now. Until then, we can still use Bitcoin to make a profit and become our long-term investment.

[Stella Mese]

Bitcoin will never be stable. Or even if it would be possible, people from this forum wouldn't be able to make it.
Why do you want it to be stable anyway?

I also think so for BTC, of ​​course it will be difficult to be stable, because of course there are a lot of people selling and buying BTC, which of course will make the price of BTC fluctuate. If BTC is only used as a means of payment, of course it will be better if the price of BTC is stable, but if it is used as an investment asset, of course it will be difficult to make a profit.

[BVeyron]

In order for Bitcoin to be widely used for payments, it is necessary to stabilize price fluctuations.

Question,
Bitcoin and other currencies A and Prepare B.
A and B are equivalent exchangeable and can also be equivalently exchanged for Bitcoin.

Is it possible to stabilize prices through market mechanisms due to this?

Market mechanisms can't bring stabilization at all, market is always unstable, so when price for something rises, prices for all the other things are affected (some prices are affected heavily, while other prices have so little fluctuations that it is unnoticed). So market mechanisms create prmanent unstability of BTC price. So, I think, it's not the problem for adoption... IMHO adoption rate doesn't depend on price stability, it's just one of the factors contributing to cryptocurrency price dynamics.

[jp123]

Since the prices of the three currencies are not the same, you can profit from the difference.

[aylabadia05]

Is it possible to stabilize prices through market mechanisms due to this?

Bitcoin is indeed an open source which allows people to be part of it as it develops.
This doesn't mean that we have to suggest that the price issue be more stable.
What if you use Bitcoin with a concept that has been created in such a unique way without needing the price to be more stable like other currencies.

If you want stable prices, I firmly say don't use Bitcoin. Please look for another currency.
Bitcoin is so far perfect in my opinion as a currency designed by Satoshi and the Bitcoin system is the best compared to the system owned by the central bank.

[so98nn]

Bitcoin is meant to be progressive over the period of time and that’s how everything is set in its algorithm. Get this, it’s progressive by means of its limited circulation. It gets more and more difficult to mine with the time and also the reward halves as you might have studied with the bitcoin halving process. All these characteristics are meant to happen and they are there for a reason. With the time it will get more value just because of that. In addition to this, the bitcoin Volatility is due to decentralisation nature and if you wanna make it stable then you will have to Back it up with something. If you start doing that then it will lose all its properties and it won’t be a bitcoin. It would be just another shit coin that is being controlled with something.

[BlackHatCoiner]

Is it possible to stabilize prices through market mechanisms due to this?

Very difficult. Usually, stabilization comes with tough regulations, but bitcoin is very hard to regulate. It's also used by very little percentage of people as currency, so it's even less likely.

BTC is created by the electricity it took to mine it providing some likeness of a backing.

This is just nonsense. There is no "backing" in bitcoin either. Electricity can also be used to extract gold from the ground, does that qualify as backing for gold?

Remember that the beauty of Bitcoin technology is the volatility that it brings with it. It becomes more appealing to some investors as a result.

Unfortunately, that's the truth. It's also that damn law about bad money driving out good. People won't utilize as currency, unless it becomes the "bad money".

[franky1]

BTC is created by the electricity it took to mine it providing some likeness of a backing.

This is just nonsense. There is no "backing" in bitcoin either. Electricity can also be used to extract gold from the ground, does that qualify as backing for gold?

its diesel and labour for gold.. which is why you will never see gold tip below ~$900 ever again because the underlying cheapest mining of gold on the planet stops those from being able to sell gold for profit below that lowest cost thus no one sells below cost..

its called economics

[Negotiation]

Why are you thinking of stabilizing bitcoin, it will take a long time to do so bitcoin is unstable and more popular for price fluctuations. Bitcoin is decentralized and not controlled by the central government if you want to invest in savings. Stablecoins play a key role in the trading market as their price is usually pegged to a fiat currency simply put, they are often considered digital cash in the trading market but have risks. Bitcoin investment medium is more volatile because investing in bitcoin has no fundamental basis if a bubble is formed in its market it will burst very easily long term investment will give good returns.

[Learn Bitcoin]

I hope you already understand that it's not possible to control the price of Bitcoin. But I believe Bitcoin price will be somewhat more stable than how it is now. The supply won't add much Bitcoin to the network, and it will increase the scarcity. If Bitcoin demand remains the same or it increases further, the price will increase as well. But it won't be stable at all.

There will be negative effect if people try to control the price of Bitcoin. People will lose interest from it. Even though Satoshi wanted to use it as a currency, we people use it as currency and most of consider it as investment.

[Plaguedeath]

Nope, I don't want to stabilize Bitcoin price, so count me out.

If Bitcoin price is stable, Bitcoin no longer decentralized anymore because someone is controlling Bitcoin price to burn the coin or add the supply. Since Bitcoin has maximum supply and there's no way to reduce the circulation intentionally, Bitcoin price will never be stable.

[Aanuoluwatofunmi]

Why are you thinking of stabilizing bitcoin, it will take a long time to do so bitcoin is unstable and more popular for price fluctuations.

This is bitcoin today and that's how it will always appears to be, volatility is what was made along with bitcoin because even the local currencies in fiat and not stable while bitcoin is believed to be more highly volatile than those in fiat, bitcoin cannot be stable also considering that in it instability lies different opportunities to buy and sell.

Bitcoin is decentralized and not controlled by the central government

Maybe the more reason why bitcoin should be more highly volatile than ever so that the government may feel the impact of what they would have been missing over the years without adopting bitcoin as a legal tender and only two countries did so.

[lizarder]

In order for Bitcoin to be widely used for payments, it is necessary to stabilize price fluctuations.

Unfortunately there is no way to stabilize bitcoin and the only concept of stabilizing goods is in economic law because it can be regulated or in other words there is the influence of people or groups that can suppress prices. Bitcoin doesn't work like that and has nothing in common with other products that can be regulated by a particular person. So I think there is almost no way to make the price of bitcoin stable?

Question,
Bitcoin and other currencies A and Prepare B.
A and B are equivalent exchangeable and can also be equivalently exchanged for Bitcoin.

Is it possible to stabilize prices through market mechanisms due to this?

I have studied this concept in economics by exchanging goods for other goods and previous people may be familiar with this style. As a simple example that I may have heard, when they buy wheat and exchange it for vegetables in exchange, these are just some examples that may not represent bitcoin, but can this process be done on bitcoin. I think it's a bit of a hassle and there are a lot of people who probably don't want to do it and if you want to see a stable coin maybe the choice is USDT not Bitcoin.

Regarding exchanging goods for bitcoin, this may be possible depending on the particular product because currently there may be several places that accept bitcoin as a means of payment, but it depends on whether they intend to make payments that way or not. If you look at the current conditions and the comparison of several places that use bitcoin as a means of payment, so it also hasn't been able to stabilize bitcoin.

[Smack That Ace]

Nope, I don't want to stabilize Bitcoin price, so count me out.

If Bitcoin price is stable, Bitcoin no longer decentralized anymore because someone is controlling Bitcoin price to burn the coin or add the supply. Since Bitcoin has maximum supply and there's no way to reduce the circulation intentionally, Bitcoin price will never be stable.

I don't think so, I don't think that once the price of bitcoin stabilizes that means bitcoin will become centralized. I believe that with bitcoin being widely accepted and used in payments and with a larger capitalization, bitcoin will also gradually become more stable. Of course, it may be as stable as gold but not as stable as fiat.

But honestly, I also don't want bitcoin to become more stable or less volatile. We profit from its fluctuations, and if it is stable, how can we still profit?

[BITCOIN4X]

Nope, I don't want to stabilize Bitcoin price, so count me out.

Even if someone expects you to do it, then I am 100% sure you won't be able to do it.

If Bitcoin price is stable, Bitcoin no longer decentralized anymore because someone is controlling Bitcoin price to burn the coin or add the supply. Since Bitcoin has maximum supply and there's no way to reduce the circulation intentionally, Bitcoin price will never be stable.

The price of bitcoin will never be stable due to its supply and demand. Someone could lose their bitcoins permanently if they lost access to their storage wallet, which would increase the total number of bitcoin that are frozen without being able to be moved. So far it is absolutely impossible for anyone to control Bitcoin, including the government, but they have succeeded in controlling most of its users through regulation.

Bitcoin's volatility could be lower if Bitcoin is mass adopted as a currency, while currently regulations in various countries still prohibit it. We never know about the future, but I believe bitcoin will never be stable even if every country adopts it.

[abel1337]

In order for Bitcoin to be widely used for payments, it is necessary to stabilize price fluctuations.

Question,
Bitcoin and other currencies A and Prepare B.
A and B are equivalent exchangeable and can also be equivalently exchanged for Bitcoin.

Is it possible to stabilize prices through market mechanisms due to this?

Volatility is one of the well known characteristic of bitcoin. Bitcoin price wouldn't be stable as much as people want it, at least in our current time. I also see that it's not common to see people in buying things or services using bitcoin nowadays given that there's fees and tx confirmation. There's a thread about bitcoin redesign on reddit about the holes that bitcoin have such as inefficiency if being used on day to day payment transaction, but here we are today stuck with it. This is why there are several altcoin that is made for the exact purpose of filling the job of being a payment.

[Artemis3]

In order for Bitcoin to be widely used for payments, it is necessary to stabilize price fluctuations.

Question,
Bitcoin and other currencies A and Prepare B.
A and B are equivalent exchangeable and can also be equivalently exchanged for Bitcoin.

Is it possible to stabilize prices through market mechanisms due to this?

No and it doesn't matter.

1 It is not necessary
2 You can't do anything about it
3 It can be used for payments just fine

If you want a relative price to fiat, the payment system/processor will do the conversion in real time at the moment of payment. It is the same in hyperinflation countries, where the fiat equivalent price is changing by the minute, but unlike bitcoin, it only goes one direction...

Maybe the fluctuations will decrease over time, but it will never be fixed to anything. Its called free market, and fluctuation is a symbol of freedom, while a pegging is a symbol of intervention that creates a distortion that WILL explode someday.

You can see it with the price of gold. It still fluctuates freely.

[doomloop]

In order for Bitcoin to be widely used for payments, it is necessary to stabilize price fluctuations.

Question,
Bitcoin and other currencies A and Prepare B.
A and B are equivalent exchangeable and can also be equivalently exchanged for Bitcoin.

Is it possible to stabilize prices through market mechanisms due to this?

Bitcoin being a highly volatile coin is what makes Bitcoin different from the others. This is it's own charm so why will you removed this? If you do, Bitcoin will look ordinary and people may not really be interested on it anymore. I see no issues on using Bitcoin as a currency despite having that said characteristic. Transactions are still smooth on my side and the fees are not really that exaggerated.

I guess some people are just OA (over-acting). They are too picky or sensitive. But I'm sorry, Bitcoin can't just favor them because they are only a small percent compared to those people who gladly like and accept Bitcoin for who it is. There are still other cryptos out there which are more stable and then there are literally stable coins like USDT and USDC. Why can't those people use them instead? That should solve their problem easily.