According to a study, the digital currency Bitcoin has hardly any chances of competing against classical currencies in the long term.
From a macroeconomic point of view, the design of cryptography is not suitable for building a new monetary system, according to the study presented by the private bank Berenberg and the Hamburg World Economic Institute (HWWI) on Tuesday in Frankfurt.
Up to now the Bitcoin was hardly accepted by the trade, the authors noted. So there were only 44 shops in Bitcoin-Hochburg Berlin, which accepted the digital currency as payment. Above all, the high volatility, which is a serious problem. "It is not uncommon for bitcoin prices to fluctuate by more than 10 percent within a day.
What do you think about that ? Does bitcoin really have any chances?
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