Quote from: Ozero on Today at 01:36:58 PM

Quote from: BitcoinPanther on August 19, 2022, 11:15:50 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 also think that for the masses and the government to acknowledge Bitcoin, it needs to get rid of its high volatility. I know it will be gone one day but I think it will take long years of waiting for the price of Bitcoin to stablize. I guess it will happen when the last coin is mined or when majority of the population are using Bitcoin.

I don’t think that a decentralized cryptocurrency will ever be able to get rid of its high price volatility. Some argue that this will happen when people start using bitcoin and other cryptocurrencies en masse, and thus, since the buying and selling actions of many people will almost always already be balanced, the price of the cryptocurrency will be more stable. It is unlikely that this will happen. The price of a cryptocurrency, as in the stock market, will always depend on bad or good news, and this, in turn, will influence the mass decision of cryptocurrency holders to buy or sell it, and then high volatility will continue.

The only way Bitcoin will become stable is if and only if people decide to use it as a currency, a method of payment. Unlike today, people are buying bitcoin and expecting to be able to sell it at a higher price to make a profit from it. As a result of this thinking, bitcoin will never be stable, as everyone tends to buy low when the price is low and will sell high when the price is high. The volatility of Bitcoin will depend on our behavior.