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Cryptocurrencies won’t get government approval – Forbes editor-in-chief
CONTENT

  • Bitcoin will not get approval from governments due to threat to economic stability.

  • Cryptocurrency adoption will come along with ease of use and reduced volatility.

  • Bitcoin’s Limitations Seem to Have No Value for Cryptocurrency.

International consortium of news organizations developing transparency standards.

Forbes editor-in-chief is confident that once cryptocurrencies achieve stability, they will become a big problem for many governments.

Steve Forbes, editor-in-chief of the American financial and economic magazine Forbes, in an interview with the Center for Natural and Artificial Intelligence YouTube channel, commented on the development of the cryptocurrency industry in the next few years..

In particular, Forbes characterized cryptocurrencies as a “high-tech cry for help” in response to the uncontrolled printing of money by government agencies..

Thus, Forbes commented on the recent US decision to print $ 1.5 trillion to help fight the consequences of the economic crisis caused by the COVID-19 pandemic..

Also, the editorial staff of BeInCrypto wrote about how the cryptocurrency market was preparing for a record pumping of money from Japan..

Scarcity ≠ value

According to Forbes, many volatile cryptocurrencies, such as Bitcoin, still discourage many people from entering the virtual asset market..

Forbes also criticized the value model around bitcoin. Moreover, the Forbes editor-in-chief believes that the cryptocurrency community makes the mistake of believing that if Bitcoin is limited in supply, it creates value..

Media tycoon claims efficient monetary goods “facilitate trade” rather than “control the economy”.

There will be no consent

Forbes believes that virtual assets should be easy to use and less volatile to trigger widespread adoption as a primary means of payment.

Cryptocurrencies won't get approved ...

In addition, he noted that cryptocurrencies are unlikely to receive a green light from governments around the world due to the threat to the existing economic order..

Meanwhile, the number of small bitcoin holders is breaking records.

According to the analytical platform Glassnode, the number of bitcoin addresses with a balance of 0.1+ BTC reached an all-time high of 3,054,282.

At the time of this writing, the price of bitcoin BTC / USD is $ 9460 (+ 0.19%).

What do you think? Will governments ultimately be able to accommodate the development of bitcoin? Share your thoughts with us in the comments and join the discussion in our Telegram channel.

Disclaimer

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