Today I read information that a G7 report on cryptocurrency was published.
The authors of this document stated that bitcoin and other cryptocurrencies are not reliable means of payment and seem dangerous for storage.
Nevertheless, the report refers to the fact that stable coins are the exception and that such coins have real potential for everyday use.
The team that conducted the research turned up that not a single global project of stable coins can be legally used until the relevant laws are adopted for control, regulation, etc.
But the document also mentions that Bitcoin and other cryptocurrencies are still a highly speculative asset class.
Guys, I ask you to comment on this matter. After all, many are interested in the question of how exactly the G7 report will affect the entire cryptocurrency market.
Unfortunately, what the report says is true because looking beyond sentiments, crypto currency as a means of payment is not reliable because of the volatility that is being witnessed in the market because you can sell your goods at an equivalent amount for a certain fiat value and in the next 24hours that value drops drastically to you which makes you lose because you cannot restock or increase which makes the buyer lose more from his own end.
However, the volatility is what makes the market interesting because the hope of making decent return on investment within a short period of time is a factor that is not offered in the fiat market which I feel is pulling majority of people into the market. The question about G7 report is whether they can do anything about it?