Quote from: emmybd on May 29, 2019, 07:06:25 AM

Quote from: Dncer on May 09, 2018, 09:04:40 AM

I'm just reading an article in the newspaper. Klaus W. Wellershoff (a last chief in UBS Bank) says that's impossible to use a currency with volatility as money. If the value of the money decrease, that means the value of the merchandise decrease. For example : if you buy a flat with bitcoin and few years later the bitcoin value decrease... Your flat lose his value as well.

What do you think about this argument?

There is no connection with bitcoin and flat, so why the flat would lose its value. It is true that bitcoin is a very volatile currency, but it has more advantages than disadvantages so we have to keep that in mind.

There are two sides, if you use bitcoin as money which you just use it for payment in your daily living, then it's a bad idea as it's volatile and people can't afford to lose even a small value especially those who people who just work to earn. In the other side, if you use bitcoin as investment, it's better as it's value will increase in the long run as the market continues to get better and better in the long run, but only investors will benefit it.

Bitcoin can only compete with fiat if it's stable enough, but I don't think it will be stable as fiat since it's decentralized price could move when there is speculation in the market.

We need 3rd party to make this happen, bitcoin to third party to payee, that should happen.