Bitcoin's viability as a financial system is being questioned by crypto analyst Justin Bons, who argues that it fundamentally fails as money. He points out that Bitcoin falls short in terms of being a medium of exchange, a unit of account, and a store of value. Bons predicts that these flaws will lead to a financial crisis within the next decade, as Bitcoin lacks scalability, remains too volatile, and cannot maintain long-term security. The inability of Bitcoin to facilitate transactions efficiently, the reliance on centralized custodians, the volatility of its value, and the unsustainability of its security model are all cited as reasons why Bitcoin cannot function as a reliable global financial system.



Other News from Today