I'm not talking about these supposed stablecoins like Tether, but normal coins. Let's say an agreement was made among all the major Bitcoin exchanges. Starting January 1, a Bitcoin is worth $5000 USD, plain and simple, and that's it. The price never goes higher or lower. A Bitcoin is $5000 today, tomorrow, next week, next month, etc. NOTHING changes it. Not a war, not the economy, not Trump getting re-elected (which he will, he's doing a great job), nothing.
I wonder if that could be done and what the effect would be.
One effect is that I wouldn't be buying BTC, because with no price volatility, how could I ever make a profit? But one good thing is that normal companies may be more inclined to use Bitcoin, since its price is now fixed and does not change.
Nah, no coin can get its price locked in place, they will always fluctuate, unless you're talking about USDT.
But, I don't really know much about those cause I never made use of them. I make use of Luno wallet and it's pretty good cause I'm always able to convert my coins to fiat at anytime and can also convert it back to cryptocurrency quickly.
It's really cool to have a wallet that can do that, cause it saves me a lot of times. Luno is not the only wallet that does that, there are many others too, but Luno is what I make use of.