Bitcoin surge


Cryptocurrencies and monetary policy Decentralised ledger technology has enabled cryptocurrencies to become a new form of money that is privately-issued, digital and that permits peer-to-peer transactions.

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However, the current volume of transactions in such cryptocurrencies is still too small to make them serious contenders to replace official currencies. Underlying this are two factors. First, cryptocurrencies do not perform the role of money well, because their value is very volatile and they are thus not very good stores of value Decentralised ledger technology has enabled cryptocurrencies to become a new form of money that is privately-issued, digital and that permits peer-to-peer transactions.

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First, cryptocurrencies do not perform the role of money well, because their value is very volatile and they are thus not very good stores of value. Second, cryptocurrencies are managed bitcoin surge ways that are very primitive compared to what modern currencies require.

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These shortcomings might be corrected bitcoin surge the future to increase the popularity and reach of cryptocurrencies. However, those that manage currencies, in other words monetary policymakers, cannot be outside any societal system of checks and balances.

For cryptocurrencies to replace official money, they would have to conform to the institutional set up that monitors and evaluates those who have the power to manage money.

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