Quote from: d5000 on September 19, 2017, 03:00:41 AM

But what can be done is to try to limit "irrational" volatility. That is, basically, panic selling and FOMO buying. Here I have often proposed a system where merchants that sell goods and services for Bitcoin could opt to back the Bitcoin price for a day or a couple of days. This would be a win-win system because if their clients can get a discount, the merchants' sales would increase - in a crash, their losses would be outweighed very probably by a drastic sales increase so they benefit especially if they sell goods with low marginal costs. But as long as most of the Bitcoin users are in as "investors" and want to ride a bullish wave, then "use as a currency" will be marginal and such ideas will have low support.

I think this has become a cycle. There are many who are getting into Bitcoin because it can suddenly surge in value making its volatility so high which in turn make it more attractive to investing type of people. Volatility is a part of the many reasons why Bitcoin caught the attention of the many and can be the same reason why many merchants are not yet accepting Bitcoin as one of the modes of payment.

I have been saying this many times that there should be a way for merchants to get protected from its volatility so we can all promote Bitcoin to them. Correct me if am wrong but there seems to be ways now for merchants to accept Bitcoin and not to worry more on its volatility.

There should be more and more people and businesses that must accept Bitcoin as form of payment so we can reach the mainstream much faster. An infrastructure must be provided for them so they can be encouraged to be a part of the Bitcoin movement.