“There’s a ‘fatal’ flaw in cryptocurrencies which means they can never be real currencies” – Business Insider | $10,048.88

Last updated on January 2nd, 2018 at 12:00 am

The problem that cryptocurrencies face is that they fail the two key metrics of what makes a currency a currency,” Donovan said. “A currency has to be a widely used medium of exchange. Cryptocurrencies are never going to achieve that. Period.”

“The fatal issue for cryptocurrencies is that the supply of them can only ever go up,” he said. “There is unlimited upside to the supply of cryptocurrencies.”

Eulogy made by Paul Donovan

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12 Comments on "“There’s a ‘fatal’ flaw in cryptocurrencies which means they can never be real currencies” – Business Insider | $10,048.88"

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Jay
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Jay

There is also an unlimited amount of Dollars that can be printed… the main difference.. Dollars are based on debt… crypto is based on collateral!

SM177Y
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SM177Y

Not a very intelligent article here people…just a BTC hater that doesn’t understand even the most simple concepts of cryptocurrency or any currency for that matter….move along.

JoeHx
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JoeHx

Saying the supply of cryptocurriencies can only go up is like saying the supply of fiat currencies can only go up – it says nothing of individual fiat currencies (e.g. US dollar, Great Britain Pound, Japanese Yen) or individual cryptocurriencies (Bitcoin, Ethereum, etc).

Bryan
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Bryan

hahahahahaha. Glad this made the list at 99bitcoins.

Warlock
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Warlock

Damn, wish someone had warned me of this before I started buying them five years ago.

Inquisitive
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Inquisitive

Dumb! Are you illiterate?

Rick Z
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Rick Z

What a moronic, uninformed statement. The supply CAN NOT go up, idiot. There are only 21M BTC.