Well if i'm honest i think about 99.9% of them is not money. Even if i consider bitcoin a money it would still be a bad money. I think they make more sense as assets which the problem in that is if we say something is an asset but we don't have enough people willing to accept that it is. We run into a problem in that in that nobody can enforce any legal documentation that it is an asset. if i'ts an unregistered asset then you still have that issue.
As without the enforcement as a security who would we seek to protect your asset. So if i'm honest unfortunately i see them like risky penny stocks for the most part. Stablecoins show promise but of course the issue with them is who would audit the stablecoins? Who's doing that and what are these parties. WHich is why tether had such a big debacle.
i think for cryptocurrency to evolve to be considered a serious money. The people in the cryptosphere have to first step away from the allure of wild speculation and think of crypto in the practical sense as i wanna take this thing and i'm hoping for a stable price so it can be used to exchange.
if i want the value to go up that's never going to be good for a money in that sense. I'd just end up always paying too much for something or too little lol. If i bought a lambo as many did and the crypto i brought it with was twice as much in value the next day. Then i really paid twice the price for the lambo.
Why would i ever wanna use anything like that as a money? lol. I"m going to want to hold that. What can you do with a money nobody wants to get rid of?
So i speak of bettter more make sense cryptos on my blog that would make a good money. However i haven't seen any around here in the crypto space.
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Your point of view is very interesting friend @mykos, basically your main argument, correct me if I'm wrong, so as not to consider cryptocurrencies are:
1.- The inexistence of a legal regulatory framework.
2.- The fluctuation of the value of cryptocurrencies.
The guarantee regarding the use of crypto assets, in this environment is not regulated by laws, but by smart contracts that process operations, as long as the conditions established there are met.
Now, if you are concerned with the reliability of the cryptographic projects themselves, the guarantee is certainly given by the perfectly visible and auditable transactions that are carried out on the blockchain.
The speculative problem, in my opinion, is solved with the generalization of the use of cryptocurrencies, if the number of tokens is diversified in a greater number of hands, it is more difficult to be able to do the market manipulation that many whales currently carry out, but without As investors participate in this market increase (in number), it is very difficult to end monopolies.
The cryptographic market works in the same way as the stock market, forex, commodities, etc., only that having fewer investors makes its manipulation easier.
On the other hand, if you and I agree and accept to exchange goods and services by receiving a cryptocurrency in exchange, for me that makes it real money, without the need for any government to intervene to validate it, in fact, if you wanted to pay in Africa, China, Russia or any country in the world with gold, for example, I am sure they will accept it as a means of payment, which does not mean that it is a legal tender in those countries. That a bitcoin is not gold? It is true, but currently it enjoys greater confidence, in terms of its value, than the dollars backed by the federal reserve of the United States.
Thank you very much for sharing your opinion with me.
best regards @mykos