The plunge in cryptocurrency prices and a series of bankruptcies of coin-related companies have plunged the market into a series of confusion.

Cryptocurrency investors are still at a loss between the doubts and hopes surrounding cryptocurrency.

Two economic experts and two blockchain experts point out the “now” of the cryptocurrency market from their respective perspectives.

I don’t think there is a so-called ‘internal value’.

In the meantime, we have created stable coins to create intrinsic value, but I think there has been a moment when cryptocurrency itself is difficult to function as a currency.

Volatility is severe, and it is difficult to secure national power or public trust to guarantee the value of cryptocurrency. If you’re asking if it’s worth it as an asset based on multiple people’s beliefs,

I think that is difficult, too.

Once trust is broken, the cryptocurrency that appears next is also vulnerable. Usually, cryptocurrency is compared to Ponzi (multi-level financial fraud).

If the Ponzi structure can continue, assets will be maintained to some extent, but if the number of participants gradually decreases and doubts about cryptocurrency begin to mix, it is difficult to maintain the market.

However, I think we can remain in the line of no major impact. Like items are traded in a game, for example.”

If you look at the cryptocurrency market in the future.

“From the economist’s point of view, there was an element that ‘currency should have this characteristic’ in the process of developing monetary finance theory for a very long time.”

However, many crypto currencies that are emerging now may play a specific role based on technology, but it is difficult to maintain their characteristics as money and assets.

If the value of cryptocurrency rises, the buyer will not use it (in the transaction), and if the value decreases, the seller will not accept it. No matter which way it fluctuates, it is quite difficult for the cryptocurrency market.

In addition, in the case of stable coins linked to specific assets, the institution must peg the cryptocurrency price with legal currency

It is also a question of whether it will be possible for other organizations outside the country to play a role in maintaining this. Looking at the recent Terra-Luna situation, it was not maintained even if it was based on an algorithm.

After all, the ecosystem is not maintained if the underlying assets are known to be worthless.”

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