DAPS Coin, this morning from Coinbase.
Cryptocurrency and block chain makes sense to me, for many applications, including security and privacy.
But the weakness of digital currency is that anyone (basically) can create a new digital currency, flooding the market with more cryptocurrencies. This morning, CNBC reports 3 cryptocurrencies have crashed and Bitcoin is below $20,000.
As long as anyone can create new currencies, the market becomes diluted and the value of most currencies collapses. Another problem is the wide swing in values over short period of time. Imagine being a retailer who prices goods in terms of a cryptocurrency. One day, the price is 1 unit, and 7 days later, its 1/2 unit, then back again to 1 unit. We need stable currencies – not currencies that fluctuate widely in value over short periods of time.
