Battle between French Currency and Cryptocurrency

02/23/2023 12:19 • Metaverse Matters • 100 views

According to reports, Carstens, the head of the Bank for International Settlements, said that the French currency had won the battle with cryptocurrency. Mike Novogratz, the chief executive of Galaxy, said that it was too opinionated. In the past decade, the tons of French currency had depreciated by more than 50%, while BTC and ETH had appreciated a lot. CZ, CEO of Coin Security, believes that there is no battle between cryptocurrency and legal currency, and technology does not fight anyone. Use it if you like it, don’t use it if you don’t like it. That’s it, but more and more people will use encryption… It’s worth waiting.

CZ: There is no battle between cryptocurrency and legal currency

Analysis based on this information:

The head of the Bank for International Settlements, Carstens, recently made a statement claiming that the French currency had won the battle with cryptocurrency. However, this statement was met with criticism by Mike Novogratz, the chief executive of Galaxy, who called it too opinionated. Over the past decade, the French currency has depreciated by more than 50%, while BTC and ETH have appreciated significantly. In contrast, CZ, CEO of Coin Security, suggests that there is no battle between cryptocurrency and legal currency, and that technology does not fight anyone. Instead, people are free to use it if they like it or not use it if they don’t.

The statement made by Carstens reflects the traditional view held by many within the financial industry that cryptocurrency is a threat to traditional currencies. While it is true that cryptocurrencies challenge traditional financial systems by offering greater transparency and decentralization, they also offer numerous benefits such as reduced transaction fees and faster transaction times. Therefore, it is not necessarily a case of one currency winning over the other, but rather both coexisting in the financial system.

The fact that French currency depreciation had occurred over time may have made it appear as though the battle was already won. However, it is important to recognize that cryptocurrencies are still relatively new and are rapidly growing in popularity. As more people adopt cryptocurrencies, their value is expected to keep growing. Moreover, with blockchain technology improving and becoming more efficient, it is only a matter of time before cryptocurrencies become a more mainstream form of payment.

CZ’s statement that technology does not fight anyone highlights the fact that cryptocurrencies are simply a tool to be used, rather than a replacement for traditional currencies. The choice to adopt cryptocurrency or not lies with the individual, and as more people recognize the benefits of digital currencies, the adoption rate will increase. With better regulation in place and greater education regarding digital currencies, it is likely that cryptocurrency will continue to gain traction, making it a worthy investment for those prepared to wait it out.

In conclusion, while some may view the French currency as having won the battle with cryptocurrency, it is more accurate to see both as coexisting in the financial system. Cryptocurrency offers benefits such as lower transaction fees and faster transaction times, while traditional currencies offer convenience and stability. The true test will be in the coming years as more people adopt cryptocurrency, increasing its value and legitimacy in the financial world.

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Battle between French Currency and Cryptocurrency

CZ: There is no battle between cryptocurrency and legal currency

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