Cryptocurrencies Are Flawed Will Never be a Store of Value - UBS Chief Economist

[ZionRTZ]

The global chief economist of Swiss financial giant UBS, Paul Donovan, has reiterated his position that cryptocurrencies have no ‘future’ in his interview on CNBC. He went on to say that cryptocurrencies are flawed and will never go mainstream. One of his argument is that real value comes from matching supply and demand. Cryptocurrency supply can go up. It cannot go down. Demand for cryptocurrencies can go down. Here's the full article https://www.ccn.com/flawed-cryptocurrencies-will-never-be-a-store-of-value-claims-ubs-chief-economist/

My opinion:
I think he was wrong on supply not going down. I guess he never heard of the fix supply; the buy back; and burn features of other cryptocurrencies. Sure the demand can go up and down but the supply can also go down, not just up.

[PRIBO247]

The global chief economist of Swiss financial giant UBS, Paul Donovan, has reiterated his position that cryptocurrencies have no ‘future’ in his interview on CNBC. He went on to say that cryptocurrencies are flawed and will never go mainstream. One of his argument is that real value comes from matching supply and demand. Cryptocurrency supply can go up. It cannot go down. Demand for cryptocurrencies can go down. Here's the full article https://www.ccn.com/flawed-cryptocurrencies-will-never-be-a-store-of-value-claims-ubs-chief-economist/

My opinion:
I think he was wrong on supply not going down. I guess he never heard of the fix supply; the buy back; and burn features of other cryptocurrencies. Sure the demand can go up and down but the supply can also go down, not just up.

I think he is greatly bias in his views. He is totally wrong to say supply can only go up and not down. If he did study the crypto trend before making that interview, he would have known that there is something called token burn that decreases supply.

[Ahmedalab]

I think he was wrong on supply not going down. I guess he never heard of the fix supply; the buy back; and burn features of other cryptocurrencies. Sure the demand can go up and down but the supply can also go down, not just up.

[pedangrusak]

I think crypto is market-based without regulation and here the role of demand and supply is absolute, actually this mechanism is needed by the modern market which is without regulation and regulation from the government or banks that can play with prices and many other problems

[ZionRTZ]

I think crypto is market-based without regulation and here the role of demand and supply is absolute, actually this mechanism is needed by the modern market which is without regulation and regulation from the government or banks that can play with prices and many other problems

Sorry but I did not get what you were trying to say here about regulation. I am not even sure if it is related to the article I shared.

I think he is greatly bias in his views. He is totally wrong to say supply can only go up and not down. If he did study the crypto trend before making that interview, he would have known that there is something called token burn that decreases supply.

He must have read only about Bitcoin and POW.

[PRIBO247]

I think crypto is market-based without regulation and here the role of demand and supply is absolute, actually this mechanism is needed by the modern market which is without regulation and regulation from the government or banks that can play with prices and many other problems

Hey mate, the article and your point doesn't correlate. Do try and Marshall your point together for others to be able to read and understand. Thank you.