The term "cryptocurrency" is widely used to define the category but it's a bit of a misnomer. Most cryptocurrencies like BTC and ETH resemble commodities more than they resemble currencies; they're fungible goods, but they're not used as a medium of exchange. Our view is that any cryptocurrency with a fixed money supply intended to be widely used as a medium of exchange is unlikely to gain adoption for the foreseeable future.In the past year, the Dai stablecoin enabled by MakerDAO has emerged as a a true crypto-native medium of exchange. Read about the big 2018 MakerDAO had from a financial perspective in this report from a community member.
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1confirmation Newsletter - Issue #53
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The term "cryptocurrency" is widely used to define the category but it's a bit of a misnomer. Most cryptocurrencies like BTC and ETH resemble commodities more than they resemble currencies; they're fungible goods, but they're not used as a medium of exchange. Our view is that any cryptocurrency with a fixed money supply intended to be widely used as a medium of exchange is unlikely to gain adoption for the foreseeable future.In the past year, the Dai stablecoin enabled by MakerDAO has emerged as a a true crypto-native medium of exchange. Read about the big 2018 MakerDAO had from a financial perspective in this report from a community member.