COSS Updates & Announcements
We've got an analogy that puts the cryptocurrency market into perspective, as it stacks up against those of government-issued currencies.
Let's say you have a rock the size of a baseball in your hand.
If you throw that rock into a puddle three feet across, that rock's gonna make a huge splash and send ripples through the puddle for quite a while. The entire puddle will be redefined until it rains again.
Now, take that same rock and throw it into the Atlantic Ocean.
Half a second later, there's no sign it was ever there.
Now look at it this way: the puddle is the cryptocurrency market, and the ocean is that of legal tender like the US dollar. This is a comparison we believe most media outlets tend to overlook: factors that make virtually no mark on the dollar might shake up a smaller digital currency. Cryptocurrency is a new, untested, and small industry.
Fluctuations in value, major thefts, and other factors are going to look gigantic in comparison. These stories may look more impressive—and get more press—but ultimately we think it's a little irresponsible.
How To Trade The 5 Major Cryptocurrency Market Cycles
And we believe jumping to the conclusion that digital currencies are “unstable”—after only five years of existence—is flat-out unrealistic.
Is the cryptocurrency market infallible? Of course not.
Is it susceptible to illegal use? Yes—but then again, so is every other type of currency on earth.
The movers and shakers of the digital currency industry realize they have a hard road to hoe. They're aware of the issues of security and market stability, and are researching and implementing solutions.
As cryptocurrencies mature—and more people invest in them—the markets are likely to smooth out considerably. It's an industry that's still going through growing pains, and we believe people should look at events through that lens.
Next Cryptocurrency Topic:Who's in Charge Here?