You are viewing a single comment's thread from:
RE: How Many People are Truly Using Crypto to Avoid Capital Controls?
In order for any cryptocurrency to be a real utility in terms of capital control aversion, we need to reach a marketcap level where a group of people cant hurt the price in an afternoon.
Is there a fiat currency that has this level of stability?
Many of the peaks any valleys in the fiat currency exchange are caused by a group of influential people having a bad afternoon.
I am looking forward to when many of the "giant" retailers (Walmart, Costco, Tesco, Gome, etc) accept Bitcoin (Or other Cryptocurrency) directly at checkout.
I believe this will happen in our lifetime. (They will get to control the exchange rates though :-( )
The USD, EUR, RMB have a very very high level of stability. Were talking about needing little volatility for shorter periods like a week or so if we want to have utility as a transitory currency. Over a long time is a totally different thing that realistically I dont think any currency will ever be stable in that case.
Agreed.
For the USD, EUR, RMB and GBP, the fluxuations (by percentage) are much easier to accept from an investment standpoint.