Simple reason why crypto is preferred over fiats - page 9.

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Quote from: Alisha-k on October 13, 2021, 09:30:28 PM

So a time will come when everyone wouldn't want to be cheated again by the banking system and would move to using Cryptos for Saving money and other transactions.

fiat and bank are only for saving someone's money, nothing extra and no result as 'savings'.

Crypto is proven, for people who invest and trade can make a lot of profit, if they understand the trading and investment system.

So it's only natural that people prefer crypto over fiat, it's included in the category of increasing money, some think, for what to keep fiat in the bank, it's better to invest in crypto, about security and trust, people believe in crypto, instead of making fiat investments in an obscure fashion, their own crypto is in control, not someone else.

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Quote from: Alisha-k on October 13, 2021, 09:30:28 PM

In the Crypto space, such is not possible because any kobo that leaves your account can be monitored and traced by anybody at all

So stealing with Cryptos is almost not possible

The block chain is a public ledger and transactions can be checked by anyone, this however does not exclusively stop theft. Stealing can still occur and there are also private platforms like monero where everything cannot be traced.

Quote from: Alisha-k on October 13, 2021, 09:30:28 PM

And again, Cryptos rise/fall every second, but the chances of rising is higher

Replace cryptos there with Bitcoin. Majority of the coins/tokens on sale now have a higher chance of dumping than rising as many are shitcoins, Bitcoin on the other hand is deflationary and would likely keep increasing with time.

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Quote from: Alisha-k on October 13, 2021, 09:30:28 PM

That's because no single person or group of persons is or are in control of Cryptos, it's called Blockchain technology

Not really. Most of the time(like, Bitcoin is the only exception), a single development team controls the entire codebase of a certain cryptocurrency project. "Blockchain technology" doesn't automatically fix the centralization problem. Very very common misconception.

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That's because no single person or group of persons is or are in control of Cryptos, it's called Blockchain technology

It's a decentralised system meaning money sent or received from or to an account can be seen or monitored by everyone or anyone who wishes to

Unlike your normal bank that has CEO who decides how he wants to run his business, he can collaborate with the president to Syphon millions of dollars and no one will know about it

In the Crypto space, such is not possible because any amount that leaves your account can be monitored and traced by anybody at all

So stealing with Cryptos is almost not possible

And again, Cryptos rise/fall every second, but the chances of rising is higher

That's why Bitcoin of $10 today can turn $14 in 14days time but your $10 in the bank will reduce to $9 after bank charges

So a time will come when everyone wouldn't want to be cheated again by the banking system and would move to using Cryptos for Saving money and other transactions.

Topic: Simple reason why crypto is preferred over fiats - page 9. (Read 915 times)