Who really wants to get into currencies that can double or lose half their value in a few hours or days?

People want more stability when they make investments, or simply when they use a currency to buy things.

Imagine a country having a currency that doubles in a few hours/days, or worst lost half its value in a few hours/days. How economically stable do you think that country would be? Not very stable at all!

There are unstable currencies on the planet that are not appealing in economic terms, and they aren't cryptocurrencies.

In 2016, the Egyptian pound dropped by -59%, the Nigeria naira by -37%, the Turkish lira by -18%, the Argentinian peso, British pound and Mexican peso by -17% each. The biggest hit is probably the Venezuelan bolivar, with -71%, but it's not an official number so it could be higher.

Here are the top 10 weakest currencies in 2016:

Iranian Rial (IRR)

Exchange rate: USD = 30184 IRR

Sao Tomean Dobra (STD)

Exchange rate: 1 USD = 22691 STD

Vietnamese Dong (VND)

Exchange rate: 1 USD = 22396 VND

Belarusian Ruble (BYR)

Exchange rate: 1 USD = 20846 BYR

Indonesian Rupiah (IDR)

Exchange rate: 1 USD = 13873 IDR

Lao or Laotian Kip (LAK)

Exchange rate: 1 USD = 8144 LAK

Guinean Franc (GNF)

Exchange rate: USD = 7822 GNF

Paraguayan Guarani (PYG)

Exchange rate: 1 USD = 5950 PYG

Sierra Leonean Leone (SLL)

Exchange rate: 1 USD = 4129 SLL

Cambodian Riel (KHR)

Exchange rate: 1 USD = 4055 KHR

Here is a chart from zerohedge showing some of the unstable currencies, with the Turkish Lira being the most unstable national currency:

Source: zerohedge

All of these countries are not on solid ground economically. This doesn't provide a stable life for people.

And here is another image of the Lira compared to Bitcoin:

Source: zerohedge

The most popular crypotcurrency, is THAT unstable. Regardless of it's value, the value isn't stable, and this makes it less appealing for the majority of people on the planet who want stability in their lives, not playing money-games with currencies where they can lose big.

I submit that until cryptocurrencies finds a real-world way to bring stability, they will continue to be marred with pumps-and-dumps and all the other speculative BS that makes them unstable. Cryptocurrencies get the reputation of being shitcoins because of this gaming of the currencies.

What do you think? Are cryptos capable of becoming stable? If so, how?

Thank you for your time and attention! I appreciate the knowledge reaching more people. Take care. Peace.

References:

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2017-03-22, 12pm

When Cryptocurrencies Become More Stable, Then We Will See More Mainstream Public Adoption