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If the volatility of a currency swings for too long, interest in using that currency decreases eventually to the point where no one will use it aside from those
by likeabbas 4y ago
If the volatility of a currency swings for too long, interest in using that currency decreases eventually to the point where no one will use it aside from those who have to (like the people in a specific country). We will likely see this with all cryptocurrencies at some point. This leads back to the definition of a currency, which needs to be stable for people to want to use it. At this point, bitcoin is not a currency people use to transact things. It's a store of value as a speculative investment that is mostly being traded by bots trying to profit on the volatility swings.
- deleted 4y ago[deleted]