Tim Draper: Pandemic Could Be The Tipping Point For Bitcoin

[newshunter]

Tim Draper: Pandemic Could Be The Tipping Point For Bitcoin

The pandemic may be the tipping point that allows Bitcoin and other innovations to flourish, says investor Tim Draper

Source: Tim Draper: Pandemic Could Be The Tipping Point For Bitcoin

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[Senin]

Bitcoins and other decentralized cryptocurrencies also have their drawbacks, such as high price volatility, attachment to hardware and the Internet, still the relative complexity of cryptocurrency management for ordinary people, and more. At the same time, the traditional financial system has been formed for centuries and millennia and it will not be so easy to change it. In addition to paper money, in our world there has long been a system of values ​​of gold, silver, other precious metals and stones, which are also limited in quantity in nature. However, this is physical tangible objects and it will still be very difficult to compete with virtual digital money. In any case, this process will be complex and lengthy.
In the meantime, we will need to see how people perceive the national stable coins of the states. They can become a serious competitor to a decentralized cryptocurrency as a means of payment.

[Alcor]

Why exactly the spread of coronavirus can lead to the prosperity of a decentralized cryptocurrency? After all, it was proved that the appearance of this virus had a very negative impact on the cryptocurrency market, forcing Bitcoin to drop in price to five thousand dollars.
The onset of the cryptocurrency and raise its price may occur in the future global economic crisis. It will be a good test for the survival of cryptocurrency and can really serve as a turning point in its development. It is assumed that bitcoin appeared after the previous economic crisis of 2008, including in order to effectively resist inflation in such economic crises.