I think their main concern still needs to be addressed. Namely how an asset with high volatility can be used as a currency.
Imagine trying to take a loan in BTC, you will have no idea how much it’s going to cost to repay.
For those that argue stating the high inflation with today's fiat, keep in mind that inflation only goes in one direction. While it certainly isn’t good, it is still more manageable as a currency than a volatile asset.
While runaway inflation may push people towards BTC. It is still more a storage of value than a usable currency.
The day a decentralized system figures out an answer to the volatility problem, is the day it replaces fiat.
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That's the thing. It's won't be significantly less volatile until it's like 10x bigger in terms of size and liquidity.
There's no "solution" to the volatility other than just that it's bigger, more widely held, more understood, and with fewer risks.
So many do not understand this point. Maybe we need a good metaphor.
The 4-year sharpe ratio of Bitcoin outperforms every other asset over its entire existence. Treat it like a 4-year bank certificate of deposit and watch your wealth skyrocket.
Bitcoin is a currency (space) technology AND bitcoin is a savings (time) technology. It is the best money ever available to humanity.
If the volatility concerns you, invest less in bitcoin. If you want to save more in bitcoin because it outperforms everything over enough time but you can’t save as much as you want, spend less.
Bitcoin isn’t negotiable. Using it comes at a cost. Adapt your life and decisions appropriately.
same applies for fiat ("how much it's going to cost to repay"): price prediction under fiat explodes out too...
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3919203
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3919203
Volatility will reduce as Bitcoin matures.
Gold was quite volatile compared to the elastic fiat money of today but that was usually caused by miners finding more/less gold or trade deficits/surpluses between countries.
Time will tell how Bitcoin fares.
I have thought the same. Some entrepreneurs want to wait until that time, others interested in exploring options sooner rather than later.