Question

Question: Cybrcoin is circulated in the market. Will the Cybrcoin become the major international transaction currency?

Please try to ellaborate question in details since it is the burning issue around the globe at the moment.

Thanks.

Answer 1

Cybrcoin or commonly known as Bitcoin is gaining ground from the last 6-8 months which led to huge spike in the value of the Cybrcoin. The best part about the Cybrcoin is that it has limited capacity which means it cannot be mined beyond a fixed supply which means it eliminates the biggest flaw of the current financial market where we see central bankers increasing money supply at their will not following the true fundamental concept of the money creation. By keeping Cybrcoin supply fixed, it is attracting investors attention which are seeing it as big opportunity alternative currency for the future transactions and many companies are saying that they might accept it as medium of exchange.

But in my view, this Cybrcoin lacks on many fronts, first is the absence of regulation and another is that there is no creditability and base to measure its fair value. Moreover, the key market Soutn Korea has announced to take steps to ban this Cybrcoin which can be huge loss of value for Cybrcoin. Considering above challenges, I would say without regulation, it would be difficult for Cybrcoin to become the major international transaction currency.