Rise of Cryptocurrencies: Legitimate Institutions or a Passing Fad?

[SilverLance]

On one hand, proponents of cryptocurrencies argue that they have numerous advantages that make them a viable alternative to traditional fiat currencies.

On the other hand, critics argue that cryptocurrencies are highly volatile and lack stability, making them a risky investment. Also the fact that anyone can create and launch their own cryptocurrency raises questions about their legitimacy and sustainability.

So, are cryptocurrencies legitimate institutions or just a passing fad?

 

[King Belieal]

People that talk about the volatility of crypto are yet to meet fiat currencies whose value fluctuates within three hours. They should dig deeper and they would find it.

 

[SilverLance]

You're right, it's important for people to recognize that volatility isn't unique to cryptocurrencies, and exists in all forms of currency.

 

[Fidelia]

People that talk about the volatility of crypto are yet to meet fiat currencies whose value fluctuates within three hours. They should dig deeper and they would find it.

You're right, it's important for people to recognize that volatility isn't unique to cryptocurrencies, and exists in all forms of currency.

Let me introduce you guys to that fiat currency whose value is highly volatil. It is called the Nigerian Naira. It was gaining against the dollar last week but as at now, it has fallen flat footed. Might even have more volatility than crypto.

 

[Suba]

Bitcoin was originally created as a means of hedging against inflation in the USA and as a medium of exchange, but now it is also used as an investment instrument and traded on crypto exchanges. The longer the Bitcoin that has not been mined, the less it will increase and the more price stability will increase. Even though anyone can create crypto, it will be difficult to survive in the crypto market arena, so many new cryptocurrencies fail. Cryptocurrency does not have institutions like fiat money has a central bank. The nature of crypto is decentralized, so there are no controllers. So for top crypto to be created seriously, not just a passing fad.

 

[magnus2022]

Cryptocurrency have come to stay. Cryptocurrency have been expanding into diverse areas, a sign that is progressing. More coins is coming out on daily basis and millions of people are joining cryptocurrency. Therefore, i believe cryptocurrency have come to stay.

 

[Webster]

So, are cryptocurrencies legitimate institutions or just a passing fad?

Legit institutions; if they were nothing more than a passing fad, the media wouldn't cover them (CNBC here in the U.S. devotes serious time to them) and government regulators wouldn't care.