There must be something alluring about this shiny & malleable metal that it’s not just a favoured base for luxurious jewels but most importantly it’s the Backbone of all Countries financial reserve.
Crypto Buzz around the world, its fancy architecture and sophisticated invisible mash of networks has crowned it as a CURRENCY?
The obvious question arises does it even qualify to be called Crypto CURRENCY?
The most indispensable Characteristic of a Currency is its Stability of value.
When you carry a 500 Rs note and go to a café to buy Cappuccino, it’s unlikely that the Barista is going to deny that the value of that 66 x 150 mm2 paper in your hand is not Rupees 500. But when you have for example 1 Bitcoin it is very much possible that its value is changed to Rs 450 in a matter of minutes or maybe worse.
The value of the traditional currencies don’t leak or for that matter gain in matters of weeks/days/minutes barring exceptions.
The challenge with Cryptocurrencies is that they do not represent stored inherent value but have mushroomed as a trading vehicle, providing thrill and transactional benefits to the speculator industry.