Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Speculation
Re: Will bitcoin stay relatively stable and become a stablecoin?
by
South Park
on 15/11/2018, 17:37:06 UTC
Quote from: St4yInTh3D4rk on November 14, 2018, 06:59:29 PM
Quote from: South Park on November 14, 2018, 05:08:24 PM
Quote from: Blocktopian88 on October 29, 2018, 08:54:59 PM
Just a thought when looking at the candle chart. I believe it would be possible when total funds are huge enough.
It could be possible once bitcoin has been adopted by a significant amount of people around the world, but what we're seeing now is nothing more but a phase that is transitory, we are seeing the price of bitcoin being more stable than normal just because people are afraid to invest in it, but as you can see it seems the volatility is coming back to the market because the price of bitcoin has gone down 9% in less than 24 hours.
Even if the bitcoin adopted by more people in this world there will not be any stable value for the bitcoin because it just based on demand and supply so when people sell or spend bitcoins the price will fall but anyway we are far from that because we using bitcoin for investment so surely the demand will keep changing untill all the people use bitcoin for payment not for money making.

Bitcoin will never be as stable as fiat currencies but it could become more stable with more adoption because the bigger the market cap of bitcoin the more difficult it is going to be for powerful people to move its price so it is going to be subject to less manipulation than what we are seeing right now, obviously it is going to take a long time for that to happen but it could happen if we give bitcoin enough time.