Why is bitcoin stability important?

[Master107]

I think the past 24 hours showed how unstable Bitcoin is. Does anyone know what happened? Why did it drop like that? It dropped like a rock!

Volatile. One word that I know from very beginning 'til now and tomorrows.

This one may help you to have an idea why the sudden dump happened:

Woo said:

“Not entirely sure WTF just happened, but that's the sequence of events. The sell-off was mainly on derivative markets (like most crashes).”

For more info here

[debra]

What stability do you mean? If it is about price, it is impossible because Bitcoin is decentralized and the price is determined by the market demands. I am not sure if anyone or any institutions can control the price to be stable, it is impossible I think. It is also risky if we make Bitcoin price to be stable, investors maybe not interested anymore to buy Bitcoin if the price is stable. Then, they will leave Bitcoin investment massively.

[mlawson71]

On the other hand, if Bitcoin becomes a widely-used legal financial tender, like in El Salvador, its constant fluctuations would hurt ordinary people. Imagine getting your salary in Bitcoin and the next day it drops and suddenly you had half the money for the month you had yesterday.

[jessie_hendrawan]

On the other hand, if Bitcoin becomes a widely-used legal financial tender, like in El Salvador, its constant fluctuations would hurt ordinary people. Imagine getting your salary in Bitcoin and the next day it drops and suddenly you had half the money for the month you had yesterday.

You're right, i'd never think about this before. It will never used like that, it will be chaotic at the end of the day.

[mlawson71]

I think it is important to consider this when adopting Bitcoin. A society consists of all sorts of people,many of who are very vulnerable, for various reasons - be it their age, health or financial status. I think it's important to shield them from the sudden changes such adoption would cause.

[jch1991]

Bitcoin occupies the dream of blockchain, the hope of many leeks 
What do you think

[jhm]

Bitcoin is still unstable, to be clear on that. The traders / investors love the volatility ...the tech comes second

[Fenix]

I think that Bitcoin stability is very important to attract new investors. People need to be sure in their investments. High volatility is definitely not the best feature to assure people in the right choice of investment. Stability can help you to avoid big losses but it also can't give you a big profit.

What kind of stability are we talking about? Price stability for cryptocurrency and, in particular, bitcoin? We know that a decentralized cryptocurrency cannot have price stability, since it does not have any regulatory body, and the formation of prices in this market depends entirely on supply and demand. Supply and demand, in turn, depend on many factors, including positive and negative news for the cryptocurrency. As the attitude of states and their governments towards cryptocurrency is ambiguous, cryptocurrency prices will continue to rise and fall sharply. This state of the market as a whole is liked by very many of its participants, since it provides an opportunity for large earnings. In the future, when the cryptocurrency spreads widely around the world, one can hope that the cryptocurrency will not have such high price volatility.

[satpol_PP]

I think promoting bitcoin stability is partly a matter of avoiding the alcoint crisis, major changes in cryptocurrencies activities, high inflation, and excessive volatility and alcoint markets. Instability can increase uncertainty, inhibit investment, hamper the growth of alcoint.
for your opinion?

I think bitcoin will never stable such as you want to be.
Bitcoin is decentralized, demand and supply are the basic factor of the price.
So, I don't bitcoin will stable.
We can get profit from the volatility of bitcoin..
That's the fact that I know.

[jonathancool220]

There is no need for Bitcoin to be stable because Bitcoin is really very pure like this with price volatility and I have loved it since I got to know it.
Bitcoin is also very decentralized because the price of Bitcoin is determined by its owners and this proves that Bitcoin does not need to be a stable digital asset.

[Muneeb22]

Bitcoin is the world best business and it gives us good profit if the stability is stable and then we can make trade on it and we make good profit in it. Crypto is the world best market in the world and so many peoples will make good profit through this market and change our life.

[Trumpet]

I think if Bitcoin stays the same, it will be a threat to cryptocurrency. Because we all know cryptocurrency means ups and downs. In other words, cryptocurrency is made up of both cryptocurrency market growth and cryptocurrency market down. In other words, if Bitcoin remains in the same state, then other virtual coins will vanish.

[aiviaa485]

Bitcoin does not need to be stable because Bitcoin has full support from all those who trade it and when Bitcoin goes up the effect on altcoins can go up and can go down quickly depending on those who are trading it.
That's why Bitcoin doesn't need to be stable because it's been confirmed that if Bitcoin is stable, the marketcap won't be as big as it is now on Coinmarketcap.

[pieppiep]

Bitcoin stability is really needed because in my opinion it can avoid inflation and of course it doesn't make a lot of people lose money because the movement is so terrible that it can suddenly rise and suddenly collapse instantly.

[Lifetime]

Bitcoin stability is very important if you want to see bitcoin being used for its intended purposes which is for bitcoin to be used as a currency. Without stable prices bitcoin would never come to be the common currency used in everyday prices because if it doesn't stabilize then that would mean prices of things keep changing and that is not a viable option, but stability would kill bitcoin as an asset though