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

Last updated on December 2nd, 2017 at 02:40 pm

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.

Chuck
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Chuck

Be nice to people this is new for everyone. There are no dumb questions,SM177Y

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.

Chuck
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Chuck

They suck you dry?

Inquisitive
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Inquisitive

Dumb! Are you illiterate?

lol at this guy
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lol at this guy

lol you do realize the quoted person didn’t post this.

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.

James R. Henry
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James R. Henry

Only a non-techy would even believe that cryptocurrencies cannot go up. And there aren’t just 21 million cryptocurrencies, just Bitcoin.

That’s the other main issue I see with cryptogurus, illiteracy!

And I quote, “The fatal issue for cryptocurrencies is that the supply of them can only ever go up,” he never said “bitcoin.”

Tg Gren
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Tg Gren

But… they are infinitely divisible….
I don’t have to own a whole coin. I can own a small fraction.
And yes, the supply OF CRYPTO CURRENCIES can only go up. Some exist now… more will exist in the future…