Quote from: laredo7mm on July 02, 2022, 12:29:53 PM

Quote from: NotATether on July 02, 2022, 11:49:50 AM

The only way to get people to stop worrying and shying away from Bitcoin, is to banish the volatility aspet of it, naturally.

I put emphasis on the word "naturally" because you cannot force a monetary process to establish itself in a few short years. The price and users must gradually reach an inflection point on their own.

It is similar to implementing the Euro as the official European currency. By no means were the governments rushed to scrap their central bank currencies, they were give ample time (about a decade or two IIRC) to phase it in, in stages.

So Bitcoin, and anything that wants to follow it in market capitalization, must be introduced to the public in phases, which could take a very long time.

The rest of the altcoins that do not stabilize can disappear (e.g. Solana), I have no pity for them as they only serve to give larger cryptocurrencies (and crypto in general) a bad name in the news.

Agree with the fact but how it will be possible when 90% of BTC will be held by big institutes and few individuals in the future. This would be possible if BTC has been evenly distributed or held by people. Whales hold most of the BTC which makes it an ideal asset to manipulate the markets when most of retails investors failed to hold it for long because of their impatience nature.

Even if bitcoin was somehow evenly distributed from the beginning and everyone knew how important it would be eventually a disparity in the amount of bitcoin held will appear, so even in that hypothetical scenario it would be impossible to reduce the volatility of bitcoin, I understand that most people are very conservative and as such the volatility scares them, but the volatility will never disappear, bitcoin and its limited supply by nature increase the volatility in the system, since when there is an increase in the demand it is impossible to increase the supply except with the process of mining bitcoin, so this creates an environment in which the price of bitcoin will always be more volatile than fiat or precious metals.