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Who will use bitcoin without it having a stable value?

buboard 8y ago
The fees are a much bigger problem. Bitcoin is unusable, it s a speculative vehicle for rich people. Zero-fee , or very-low-fee cryptos (i remember stellar, iota, raiblocks, even xrp) would be very usable if they had a large userbase and a very easy way to buy them. One of those has to focus on real world growth, i.e. get many websites to support them by providing a dead-simple payment solution. I think there are ways to make them less volatile. For one, don't list them in any crypto-to-crypto exchanges, instead allow only dollar cash-ins/outs, or limit the amount that can be exchanged to some fixed value like $100 / hour. Speculation and greed is limiting the prospects of most coins.
- hackandtrip 8y ago
  Iota is unusable from (almost) the very first day it got out, they are just scheduling and rescheduling the removal of central coordinators, making that in no way different from a central authority authorizing payment, they cashed and they disappeared basically Stellar is trying to achieve a completely different goal than exchanging stellars coins. Almost no one of those crypto could achieve even half of the current daily transaction processed by CC, and the proof they are using is in no way as safe as proof of work, even if more efficient. Why would people adopt them? There's no advantages, fees would be similar probably
dwild 8y ago
> Who will use bitcoin without it having a stable value? It just need to be stable enough for the length of the transaction. As long as you keep the bitcoins moving, the gain/loss will distribute itself over everyone and it won't be different than any bank fees. Let say I want to buy something from you for 20$ USD, I'm in Canada, so I buy 27$ CAD of Bitcoin on a local exchange (so I buy it from someone that essentially just sold something), I transfer the resulting Bitcoin to you, you then sold it as soon as you can. Even if the Bitcoin price is losing 25% today, if you can do all that in 2 hours, you will only lose about 3%, which is similar to Visa fees. Ideally you wouldn't hold them for more than 5 minutes and it would all be automated behind the scene without your knowledge, probably through your bank if they move quick enough, but that could be through a third party too (which is the beauty of it all, you depends on no one). That's an ideal world though and I feel like that's an utopia but that's how I see we can ignore the stability issue.

The fees are a much bigger problem. Bitcoin is unusable, it s a speculative vehicle for rich people. Zero-fee , or very-low-fee cryptos (i remember stellar, iota, raiblocks, even xrp) would be very usable if they had a large userbase and a very easy way to buy them. One of those has to focus on real world growth, i.e. get many websites to support them by providing a dead-simple payment solution. I think there are ways to make them less volatile. For one, don't list them in any crypto-to-crypto exchanges, instead allow only dollar cash-ins/outs, or limit the amount that can be exchanged to some fixed value like $100 / hour. Speculation and greed is limiting the prospects of most coins.

hackandtrip 8y ago
Iota is unusable from (almost) the very first day it got out, they are just scheduling and rescheduling the removal of central coordinators, making that in no way different from a central authority authorizing payment, they cashed and they disappeared basically Stellar is trying to achieve a completely different goal than exchanging stellars coins. Almost no one of those crypto could achieve even half of the current daily transaction processed by CC, and the proof they are using is in no way as safe as proof of work, even if more efficient. Why would people adopt them? There's no advantages, fees would be similar probably

dwild 8y ago

> Who will use bitcoin without it having a stable value? It just need to be stable enough for the length of the transaction. As long as you keep the bitcoins moving, the gain/loss will distribute itself over everyone and it won't be different than any bank fees. Let say I want to buy something from you for 20$ USD, I'm in Canada, so I buy 27$ CAD of Bitcoin on a local exchange (so I buy it from someone that essentially just sold something), I transfer the resulting Bitcoin to you, you then sold it as soon as you can. Even if the Bitcoin price is losing 25% today, if you can do all that in 2 hours, you will only lose about 3%, which is similar to Visa fees. Ideally you wouldn't hold them for more than 5 minutes and it would all be automated behind the scene without your knowledge, probably through your bank if they move quick enough, but that could be through a third party too (which is the beauty of it all, you depends on no one). That's an ideal world though and I feel like that's an utopia but that's how I see we can ignore the stability issue.