The Crypto Catch 22

Market volatility is not a good sign for any market, be it stocks, real estate, or currencies. The VIX continues to close at record lows, below 10 is considered low. The result of this has made the DOW close at record highs, day after day. I know you are saying "but jesse, what does this have to do with cryptos"? Good question. There is no VIX for cryptos, if there was it would be off the chart. This leads to the speculators market that we are all participating in. Buying, selling, HODLING, crying, cheering, and sleepless nights all because of Bitcoin(and the alts). This new market is great for making massive gains by a few but the utility of the cryptos has not been realized. In order for Bitcoin, or Litecoin, or anything else to be used by the mainstream, there must be price stability. Would you take a paycheck priced in Bitcoin? Would you pay rent with Bitcoin? Would you buy a coffee with bitcoin? The answer is currently no. Why? We as humans value time preferences and a stable currency is the tool that we use to make financial decisions. In order for cryptos to be adopted, they have to be stable but they will not become stable until they are adopted, the Catch-22.