Thank you for this post. there is no doubt that we are at the start of something that will change things. But we are at the very beginning. The US is sending signs that they will regulate heavily until there is a reason to do less and since at the end of the day crypto must go to fiat in order for it to be spent, they have great controls. The key is the industry has to begin to self regulate and work together to head off the current problems. The quicker they do this the faster we can see a stable industry. But again bumps and bruises will occur. So buckle up and keep the faith. Thanks.
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That is today but it will not be that way very soon. The Arizona Senate already passed a bill that allows residents to pay their taxes and fees in Bitcoin. The House took up the bill and hasnt passed it since they are rewriting it to include other cryptocurrencies. In other words, this is a done deal (since the governor will sign it).
Each day more commerce is done in cryptocurrency....more outlets are for it. Sure, it is minimal today but it is growing.
Many people doing work in the crypto field take payment, at least partial, in cryptocurrency. When a lot of people have a currency, merchants are going to do what they can to access that currency and direct it to them.
It is only a matter of time.
I do not disagree but the currencies also have to stabilize or no merchants will take them. This is why Bitcoin has lost some merchants recently. Too difficult to tell what a merchant is actually being paid for a good or service. Values have to stabilize and the industry has to take this mission on. It starts with getting out the frauds and stopping the manipulation of the prices which will by far be the hardest issue to solve. This is where regulation might be a great thing. Just my thoughts.
Larger market caps and institutional money will remove some of the volatility. Of course, with any market, things can be extremely volatile as the stock market is proving. Even the currencies market, with $5T traded daily can be volatile.
Thanks for your comments. Yes stocks and currencies can be volatile, but 10% in a day. None of them move this way regularly. Until that calms down and the manipulation from parties who have no interest in the companies only in making quick money are rooted out, it will be really tough for the industry. But there is a lot of regulation comping which will help in this regard. It has to happen and I hope the industry stay involved because it could be heavy handed if not.