Within five years, Bitcoin or something like it will be the dominant currency globally.
100% agree with thisā¦ Cryptocurrencies are too unstable. they rise and fall by huge percentages every day, month to month, year to yearā¦ Itās a bad investment for a corporation to put any value into, because you may have for example 100 crypto that may be worth $10,000 today, but by the time you cash it out before your quarterly earnings report, it is now worth only $2000.
Compare that to a stable world currency, Euro, British Pound, or US Dollar, $10000 today is still $10000 next year.
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That isnāt going to happen until the volatility from owning it is removed. And to think that it will be a reserve currencyā¦ Iām not saying the possibility isnāt there, like I said 2 years ago, and is still being proven today there is wayyyyyy to much uncertainty in bitcoin.
which is backed by insurance for the common person, and the government and other governments with invested interest/loans in the country/currency
Digital currencies are largely prone to massive manipulations by whales.
When a commodity is largely controlled by a single entity, itās not a good investment vehicle. Itās also not a good medium of exchange when itās not a stable marketplace. Why accept a coin that could lose half its value tomorrow? Fiat currencies have fairly predictable market ups and downs. Crypto doesnāt have that. As such, itās simply a speculation tool. And should be treated as such.
Crypto needs regulation. Significant regulation. And that regulation will likely take it out of existence in its current forms.
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Well and lookie at thisā¦ WSJ just published an article of that very thingā¦