Just when you think you've had and seen it all after the dust settles, there happens to be some shake on the ground that just only feels like a tremor. At a point I made myself believe that the government has accepted their fate with cryptocurrency, comparing it with fiat currency but its obvious that the strong heads whether they are pro crypto or crypto critics would still stick their necks out to be cut be the blade of doubt. Crypto has become a menace to fiat currency as more people are willing to find out how they can benefit form it regardless of whatsoever anyone else says. The deal is that right and wrong can't coexist, one has to back down for the other and what remains is that right would prevail at the end one way or the other.
Have you ever asked why the fight against crypto continues? Obviously, crypto is a replacement to a system that we've been threading on a part that hasn't been ever threaded upon and quite surprisingly which apparently isn't surprising it's goin as planned and even promising to be better as time goes by.
Yesterday Federal Reserve Vice Chair Michael Barr made a statement,
Because crypto assets have proved to be so volatile, they are unlikely to grow into money substitutes and become a viable means to pay for transactions.” “Banks looking to experiment with these new technologies should do so only in a controlled and limited manner.
Michael Barr is absolutely a critic who I would even believe to have a crypto asset and to no surprise, many of the fiat currency regulators have crypto portfolios for the sake of not missing out on the bubble that ever increases.
Countries have already adopted the first crypto, Bitcoin as their legal tender which has already substituted fiat in their countries, like El Salvador and Central Africa Republic and these countries are already testifying to how it's better for them. Yes, the volatility of crypto is no more an excuse to why one should deal with crypto or not. It's already been laid out there for everyone to see the volatile nature but regardless the efficacy of it's technology and potential can't be compared or put to rest.
Thanks for visiting my blog, till next time.