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Author Topic: What will it take for cryptos to be "real" currency?  (Read 230 times)

scooter1990

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What will it take for cryptos to be "real" currency?
« on: March 15, 2018, 08:14:15 PM »
Thought I would pose a question to the community.

To paraphrase Warren Buffet..

“One of the big problem with Bitcoin (and other cryptocurrencies) is that they are not really a currency in one regard.

For example, if I buy a televisoin with Bitcoin, the company quotes me the price in dollars/euro and how many Bitcoin I have to use to buy one. But the BTC price changes constantly. The price quoted is not a fixed Bitcoin (crypto currency) price, but instead it’s a dollar/euro price.

To make a currency stable, a part of a market has to quote prices in that currency. For example oil is always listed in dollars. This gives the dollar stability; you need dollars to by oil.”

Chainblx is doing something innovative with their crypto currency BLX-MF. Not only is it asset based, but they also require that the currency be used within the Chainblx ecosystem. You need it when you mine, list and ICO.

So my question is: Does the requirement to use of BLX-MF make it more of a "real" currency in comparison to other cyrptos?  Does this principle apply in general to the legitimization of cryptos?

BitcoinGames

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  • Re: What will it take for cryptos to be "real" currency?
    « Reply #1 on: March 16, 2018, 05:04:21 PM »
    Ironically the dollar is back by the price of gold, an asset, the only major difference between that and crypto is that crypto's asset is trust which is flimsy at best.
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