Bitcoin or any other volatile cryptocurrency is not good for countries with inflation problems

in #crytocurrency5 years ago (edited)

Venezuela

With the highest inflation rate in the world (https://en.wikipedia.org/wiki/List_of_countries_by_inflation_rate), should not use Bitcoin as alternative for payment service

BTC is too volatile

Bitcoin has its ups and downs every day, like -/+ $300 according to https://coinmarketcap.com/currencies/bitcoin/historical-data/, so that's why see it as alternative?

Clickbait crypto news

Many crypto news sites uses this to make think people that BTC is the best option for payment, in fact I don't think it's useful for any kind of service

Example of using crypto as payment service

Let's say that a business start using BTC as payment, they have a product that cost exactly $5000 so putting BTC as $10000 the product will cost 0.5 BTC, someone buys that product and after that BTC goes down let's say $7500, the business just lost 25% of the product, since "no one knows" when BTC will up/down the business owner sells that 0.5 BTC to take no more risks

Solution for this

Stable coins

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