southern MN | jeff gordon - 8/10/2018 08:28
Bitcoin is the most popular. Read somewhere that there is 1500 digital currencies now and the majority are worthless now.
The problem I see with the digital coins:
They are a pyramid scheme of rapidly changing value until they mature (an investment, not a currency at this point); and then they would transition into a currency.
And so, how do you get from speculation to actual currency?
Speculators will play with one until they stabilize, and then quickly flow to the next great one coming up. Which drops the value of the 'stable' one and inflates the price of the next great one coming up.
How does a digital currency ever get off that treadmill to where it is an actual currency? Once it is a stable currency, it's only value becomes avoiding word government scrutiny, as a true currency needs to be stable in value. Who bothers to work with it any more, if it is not inflating in value.
Paul |
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