This indicates the unreliability of bitcoin as a currency. Lastly, bitcoins are largely used for illegal transactions and activities such as purchasing heroin, LSD as well as other illegal drugs (Goldstein and Kestenbaum, 2011)
The economies we line in are monetary economies in which most of the goods and services produced are exchanged via the intermediary of money, rather than through barter. Whenever money is used to pay for goods and services or for the purpose of settling transactions, it is functioning as a medium of exchange (Jain et al
As is well put by Krugman (2013), in order to be successful, it is imperative for money to be both a medium of exchange and also a practically stable store of value. At the moment, it continues to be totally vague why Bitcoin ought to be a stable store of value (Krugman, 2013)
money supply is to influence and determine the amount of money as well as credit that is there in the United States economy. Therefore, through these aspects, the Fed is able to maintain prices that are stable and as a result, supporting conditions and circumstances for economic growth in the long run and also maximum employment (Schwartz, 2008)