Thursday, March 1, 2018

Why is the price of bitcoin fluctuating so much ? :


"Bitcoin is a real litmus test showing the emotional state of a society": Dmitri Marinitchev, Electronic Communications Mediator for the Russian Government, explains to Sputnik why it is wrong to say that bitcoin is volatile and to consider it as a "real currency".

Dmitri Marinitchev mediator of electronic communications to the Russian government, developed in an interview with Sputnik his vision of bitcoin.

"Many people believe that bitcoin is volatile and consider it a real currency, as a bank and government-administered fiduciary currency. But it is far from being the case. Bitcoin itself can not be volatile because it is a mathematical constant, and no one can influence the number of bitcoins in the system, remove them or introduce them to change its course, "Marinitchev told Sputnik.




He also pointed out that the changes in cryptocurrency are only the attitude towards it of the authorities, the government and the population.

"Bitcoin is a real litmus test showing the emotional state of a society: people live according to positive expectations or negative expectations and, as a result, bitcoin, as you see, responds to all these expectations. , changing course quickly. But it does not change its course, because the bitcoin is a social contract: the dollar, the euro or the ruble change their course compared to this public expectation, "continued the mediator of electronic communications to the government Russian.
Dmitry Marinchev said in particular that the company is "growing in terms of digitization, from the point of view of the digital future" currently in "a period of transition and puberty" which "is not even 'adolescence' but 'a real childhood'.

At the same time, the interlocutor believes that bitcoin will not be able to oust gold because "gold is a metal while cryptocurrency is a value transferred by a social contract".

"This is not at all linked and is disproportionate, they are not interchangeable notions," concluded Dmitry Marinichev.
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