United States  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Cryptocurrency is actually terrible for battling inflation, data shows

The Next Web Monday, 10 September 2018
Cryptocurrency is actually terrible for battling inflation, data showsCryptocurrency is often floated as a failsafe for floundering economies. When faced with economic instability, blockchain evangelists are often quick to prescribe Bitcoin (or some other altcoin) as a means of alleviating hyperinflation by being more stable than the local currency. But which is best suited for the task? Turns out, it’s none of them. According to data from blockchain research unit Diar, no cryptocurrency wields the power to pull nations out of financial turmoil. Indeed, most coins – even established ones like DASH and Litecoin – suffer from arbitrary supply inflation or massive degradation in purchasing power. This means that…

This story continues at The Next Web

Recent related videos from verified sources

What JPMorgan's Cryptocurrency Launch Means for the Markets [Video]What JPMorgan's Cryptocurrency Launch Means for the Markets

Move over, bitcoin. JPMorgan Chase will issue the first ever cryptocurrency by a U.S. bank, marking a significant change in tack for CEO Jamie Dimon, who once threatened to fire any employee he found..

Credit: The Street     Duration: 02:00Published

You Might Like

Tweets about this

Other recent news in Internet

Something magical happens if you google RIHANNA and your birthdaySamsung GALAXY S10 leaks in official TV ad
GWYNETH PALTROW to say bye to Pepper Potts after 'Avengers: Endgame'Save 60% on H&R Block tax SOFTWARE on Amazon and conquer tax season with confidence
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest