There are a lot of people who dont care what the G7 and other mainstream
financial institutions think and say about Bitcoin.
Bitcoin is and can be many things and one of them doesnt have to be an
"effective means of payment" when compared to Visa for example.
There are many things which Bitcoin does very well depending on how
we interact with it. Consider for example movement of funds or wealth
across borders, because Bitcoin and crypto is borderless.
There are other traditional financial institutions who are quite happy
to accept Bitcoin on their own terms . . . for wxample Futures trading
so I personally dont care what the G7 think
Topic: What Is Bitcoin: Internet’s Native Money or Asset for Speculation? - page 2. (Read 298 times)
February 04, 2020, 04:28:43 PM
February 04, 2020, 01:37:07 PM
If you look from a conventional perspective, you will see many problems in bitcoin. But we need to understand that bitcoin wasn't created to become a mainstream currency system. Neither it is created to replace fiat currencies. So yes, it is volatile, it has scalability issues and it is slow if you compare it with current plastic money usage.
As of now, bitcoin is majorly used as a speculative asset around the world. Millions of traders are earning their living through this speculative asset class. Million others are holding for a better price. So yes, it has not yet become a full fledged currency system yet, but definitely has become a store of value!
As of now, bitcoin is majorly used as a speculative asset around the world. Millions of traders are earning their living through this speculative asset class. Million others are holding for a better price. So yes, it has not yet become a full fledged currency system yet, but definitely has become a store of value!
February 04, 2020, 01:10:24 PM
At the end of the last year, the G7 released a report, reading that Bitcoin and other cryptocurrencies “have so far failed to provide a reliable and attractive means of payment or store of value.”
The authors of the report believe that cryptocurrencies are excessively volatile and difficult to use, suffer from scalability problems, and face regulatory risks.
An American billionaire Ray Dalio, founder of investment firm Bridgewater Associates, said that the first cryptocurrency is a speculative asset and isn’t effective for payments or store of value.
We try to find out if Bitcoin is able to be money and what is it, exactly: the internet’s native money, a hedging instrument, or an asset for speculation?
https://forklog.media/what-is-bitcoin-internets-native-money-hedging-instrument-or-asset-for-speculation/
The authors of the report believe that cryptocurrencies are excessively volatile and difficult to use, suffer from scalability problems, and face regulatory risks.
An American billionaire Ray Dalio, founder of investment firm Bridgewater Associates, said that the first cryptocurrency is a speculative asset and isn’t effective for payments or store of value.
We try to find out if Bitcoin is able to be money and what is it, exactly: the internet’s native money, a hedging instrument, or an asset for speculation?
https://forklog.media/what-is-bitcoin-internets-native-money-hedging-instrument-or-asset-for-speculation/
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