G7 Says Bitcoin Has Failed On Its Two Main Use-Cases but Data Says Otherwise

[MUGNIA]

Outside of the crypto community, however, many see the king of cryptocurrencies as an unreliable asset. Recently, the Group of Seven (G7) nations released a study that emphasizes how bitcoin has failed to deliver on its two main use-cases. While the report makes strong assertions, it offers no evidence such as statistics to support the claims.

G7 Report Lists the Limitations of Bitcoin
From the perspective of the G7, the dominant cryptocurrency is a failed asset. According to the report, bitcoin has failed to deliver on its two main selling points: storage of value and means of payment. The study enumerates the reasons why the cryptocurrency has not lived up to their expectations, such as:

• Highly volatile prices
• Complicated
• Limits to scalability
• user interfaces
• Issues in governance and regulation

In the end, the G7 relegated bitcoin as nothing but a speculative asset used by those involved in illicit activities.

These are colossal claims to make. At the very least, the G7 report should provide facts to back up its points. We scoured the report and found nothing to support these claims. So we took it upon ourselves to see whether bitcoin has actually failed as a store of value and a reliable payment solution.

the source of the article to read more fully : https://www.ccn.com/g7-says-bitcoin-has-failed/