Quote from: davis196 on February 06, 2020, 06:12:59 AM

Quote from: -Multivitamina- on February 04, 2020, 06:10:24 PM

At the end of the last year, the G7 released a report, reading that Bitcoin and other cryptocurrencies have so far failed to provide a reliable and attractive means of payment or store of value.

The authors of the report believe that cryptocurrencies are excessively volatile and difficult to use, suffer from scalability problems, and face regulatory risks.

An American billionaire Ray Dalio, founder of investment firm Bridgewater Associates, said that the first cryptocurrency is a speculative asset and isnt effective for payments or store of value.

We try to find out if Bitcoin is able to be money and what is it, exactly: the internets native money, a hedging instrument, or an asset for speculation?

https://forklog.media/what-is-bitcoin-internets-native-money-hedging-instrument-or-asset-for-speculation/

This report says nothing new.We all know that the Bitcoin price is very volatile and cryptocurrencies "face regulatory risks" in most countries,due to the fact that their status isn't clear-are they an actual currency or a digital financial asset.The guy,who created the report asks the same question,we've been asking since the creation of bitcoin.So far,BTC is mostly used for speculation,but I wish that it will move into the field of retail payments,if it gets recognized by the authorities as a real currency.

Bitcoins getting recognized by the legal authorities is not possible on a greater scale. We all know the benefits of bitcoins only because we are deeply connected to the roots of bitcoins but any legal authority might not have this deep relations with bitcoins which would only end up for them as a coin nothing more than a bubble and this would never allow them to start regulating the flow of bitcoins.

There needs some more awareness about bitcoins and also some major changes needs to be done to the blockchain network which might than serve the nation with stability and transparency but it would make bitcoins to lose their original properties and hence a lot of people who already have been regulating bitcoins might loose interest from those.