Why Bitcoin will FAIL and Fiat Cryptocurrency Will SUCCEED

One thing that we can be sure of is that nothing is too big to fail and there are many reasons that suggest that this financial experiment will not replace national currencies. Bitcoin’s early attraction was the democratization of currency, since a central bank doesn’t control the blockchain, cryptocurrencies levels the economic playing field. But as the ongoing inflationary crisis proves, the influence of a central regulatory authority isn’t always a bad thing.
To fight rising prices, the Federal Reserve raised interest rates to counter the dollar’s declining purchasing power. As borrowing became more expensive, the Fed’s actions choked off the flow of money into the economy and the inflation rate is now cooling. Bitcoin has no such central authority that can offer a similar remedy. Cryptocurrencies that worth $68000 in November 2021 are worth about $24000 now. When a “currency” loses nearly two-thirds of its value in less than a year, reasonable economists would consider it a crisis.
With no central authority to address that crisis, Bitcoin owners can only wait and hope for the best.

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