JPMORGAN: Cryptos face a major hurdle even if they become widely accepted as money

Cryptocurrencies don’t stand a chance at usurping national currencies, according to JPMorgan.  That’s because they fail to meet the major criteria of a currency.  Even if they did, the network effect of major currencies is too strong. 

You might have heard this before. 

Cryptocurrencies are a bad store of value and a bad unit of account. As such, they’re a bad form of money. 

JPMorgan made that case in a wide-ranging note on cryptocurrencies

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