With the high level of volatility and constant fluctuation in market capitalization on crypto currencies would there ever come a time we would trade crypto based on the value it has in it's self and not in exchange for fiat currency. Many countries has now adopted crypto as mode of payment but we are still faced with the issues of price irregularities. If we decide to adopt crypto fully as a global legal tender how do we deal with this price fluctuation.
This is the edge fiat and centralized currencies have over crypto and this has made so many shy away from doing legal business transaction using some crypto most especially during bear market. Can this issue get a remedy?
We can only judge the value of a cryptocurrency by comparing it with the price of fiat. There are no other methods for assessing value in our world. When there was no fiat, there was exchange in kind, but it was found to be cumbersome and ineffective.
There will always be price volatility in cryptocurrency. This is a feature of this market and cannot be eliminated in any way. Therefore, we say that cryptocurrency can only exist alongside fiat. On the other hand, states will not allow their national money to disappear.