Topic: Some arguments used against Crypto-Currency (Read 753 times)
Cryptocurrencies have no place in the existing economic model, therefore, they are most likely to be considered as a digital equivalent of stocks and not a monetary unit.
Personally, I am not satisfied with the cryptocurrency, only the speed of transactions and the increasing number of scams every day. Rats flee the ship without thinking about those who remain on it. However, despite all the problems, I see a huge potential for cryptocurrency in the future.
We can't deny that people are still wild guessing about crypto existence and they might think it as just a scam. May their mind and thoughts towards crypto will lighten up once crypto full established and all of these will be aided by the government's help. Market assurance is what the people is looking for, to have trust and confidence in doing investment.
Cryptocurrency is designed to be decentralized without any third party involved. This is a benefit but also a big risk for crypto as well. But, this could also be and it is abused by scammers. Some regulation or self -regulation is needed to this space, otherwise it will be a chaos.
Out of many arguments against crypto is "it is widely used by terrorists and for terrorism" I get pissed hearing and reading all that from countries not willing to accept change. With all of the afforementioned, crypto is not dead yet.
Personally, I am not satisfied with the cryptocurrency, only the speed of transactions and the increasing number of scams every day. Rats flee the ship without thinking about those who remain on it. However, despite all the problems, I see a huge potential for cryptocurrency in the future.
I like your answers and i think being an emerging market crypto has been overly criticized but i think everyone will sooner or later accept the worth of crypto and its future impact and then crypto will really boom.
I agree with you, those haters can criticized crypto since this is just a beginning and still in the process of adjustments. Once the mass adoption will reach then those will haters will eat their words and change their identity to join us here. I just give them smile if they ask me how crypto is doing? 
There are pros and cons in working with the cryptocurrency market. If we consider the situation even deeper, in any sphere of human life there are both pros and cons. And cons are not always a strong argument to stop using any things. Many risks can be minimized.
Very well said, everything has its advantage and disadvantages and so the cryptocurrency are. Even blockchain is useful nowadays there are still bad factors to be considered like its use in criminal activities. "Cons are not always strong argument to use any things" means that having bad side on a thing does not make it totally bad and so happened with the blockchain and cryptocurrency. Some arguments used against cryptocurrency :
1. Cryptocurrency is a Ponzi scheme
The whole economic system beginning from demand and supply is a Ponzi scheme because in demand and supply, someone profits from the loss of someone else.
2. Cryptocurrency has no intrinsic value
A government stamp on paper does NOT give it intrinsic value. With your fiat so-called intrinsic value, why does the value of all fiat keep on dropping in value?
3. Cryptocurrency can be used to evade tax
The ONLY legal tax is income tax and nothing else. And it is not wrong at all to not pay all of those extra so-called taxes to any government whether good or bad.
4. Cryptocurrency can be used for terrorist activities
The internet itself is used for terrorist activities. Gold and fiat money also is used to fund terrorist activities and are done in private. So how will you regulate those dear regulators?
5. Cryptocurrency can be used for money laundering
I can money launder with gold also by simply burying the gold and hiding it from the eyes of tax collectors. I can similarly make private and corrupt transactions with fiat money also in secret.
6. Cryptocurrency is volatile
Stocks are also volatile. Check out how volatile the Amazon stock has been.
i guess all the arguments are spread by those who will lose a lot in case crypto currency takes over fiat. some of it really absurd. and laundering money, come on, it always will be in our reality 1. Cryptocurrency is a Ponzi scheme
The whole economic system beginning from demand and supply is a Ponzi scheme because in demand and supply, someone profits from the loss of someone else.
2. Cryptocurrency has no intrinsic value
A government stamp on paper does NOT give it intrinsic value. With your fiat so-called intrinsic value, why does the value of all fiat keep on dropping in value?
3. Cryptocurrency can be used to evade tax
The ONLY legal tax is income tax and nothing else. And it is not wrong at all to not pay all of those extra so-called taxes to any government whether good or bad.
4. Cryptocurrency can be used for terrorist activities
The internet itself is used for terrorist activities. Gold and fiat money also is used to fund terrorist activities and are done in private. So how will you regulate those dear regulators?
5. Cryptocurrency can be used for money laundering
I can money launder with gold also by simply burying the gold and hiding it from the eyes of tax collectors. I can similarly make private and corrupt transactions with fiat money also in secret.
6. Cryptocurrency is volatile
Stocks are also volatile. Check out how volatile the Amazon stock has been.
Rightly noticed, today cryptocurrency is a digital analogue of stocks and nothing else, large investors discredit cryptocurrencies in every possible way because they do not have them in their portfolios as soon as they will buy part of the cryptocurrency then negative rhetoric will immediately stop.
Arguments and issues will never stop against cryptocurrency as long as a government is not welcoming the implementation of crypto.
As long as there are a group of people and banks who want to question the credibility of crypto especially bitcoin.
There are some people who will do FUD with it to make the market fall and give them way to bag more tokens.
As long as there are a group of people and banks who want to question the credibility of crypto especially bitcoin.
There are some people who will do FUD with it to make the market fall and give them way to bag more tokens.
I believe that most of cryptocurrency holders do not have any kind of illegal thoughts about the usage of cryptocurrency. Still, anonimity is pretty important today.
I think the most common one is the price swings. People do not like the fact that bitcoin can swing so much downwards and many people have left bitcoin and crypto in general in 2018. They decided the low swings and risks of investing into bitcoin doesn't worth it. However they were the same people who bought bitcoin because they were going higher in price and they wanted to get bitcoins so they could be rich instantly and leave work. They wanted to be wealthy and never have to work and be free.
Well when you want that type of life you can't invest into gold or stocks, they won't give you that wealth overnight, if you want to become wealthy in the span of couple months you have to invest into something that swings like crazy but those people assumed crypto was just going up without ever going down I suppose.
It is not serious. Crypto currencies are not a scam, it is a phenomenon, that is going to launch the next industrial revolution in the upcoming years. Be strong, do not believe in such statements and hold your coins.
There are pros and cons in working with the cryptocurrency market. If we consider the situation even deeper, in any sphere of human life there are both pros and cons. And cons are not always a strong argument to stop using any things. Many risks can be minimized.
many people think that way, especially people who might not like cryptocurrency,
but for me it is not a problem, the usefulness of cryptocurrency or not depends on who holds it, if I personally am helped by cryptocurrency, because it is not difficult if I want to go abroad, and this makes it easier for me to transact.
but for me it is not a problem, the usefulness of cryptocurrency or not depends on who holds it, if I personally am helped by cryptocurrency, because it is not difficult if I want to go abroad, and this makes it easier for me to transact.
Add scalability, lack of control and taxes, and of course volatility. Here you have long bears as a consequence of these reasons.
Everyone has a different view of Cryptocurrency. I know that this argument in my country is the reason why the government does not authorize Cryptocurrency. But I myself don't really think about that because as long as this Cryptocurrency exists and can make money, I will continue to survive.
If someone is always looking for the shortcomings of cryptocurrency, then it can list countless shortcomings, but the reason I accept cryptocurrency is simple, it can bring us high returns!
very good reply to the arguments, just for you all notice that every new technology starts with the arguments but when it get successful all are quiet. i am seeing the future with crypto-currency and everyone using it without any argument.
Some arguments used against cryptocurrency :
1. Cryptocurrency is a Ponzi scheme
The whole economic system beginning from demand and supply is a Ponzi scheme because in demand and supply, someone profits from the loss of someone else.
2. Cryptocurrency has no intrinsic value
A government stamp on paper does NOT give it intrinsic value. With your fiat so-called intrinsic value, why does the value of all fiat keep on dropping in value?
3. Cryptocurrency can be used to evade tax
The ONLY legal tax is income tax and nothing else. And it is not wrong at all to not pay all of those extra so-called taxes to any government whether good or bad.
4. Cryptocurrency can be used for terrorist activities
The internet itself is used for terrorist activities. Gold and fiat money also is used to fund terrorist activities and are done in private. So how will you regulate those dear regulators?
5. Cryptocurrency can be used for money laundering
I can money launder with gold also by simply burying the gold and hiding it from the eyes of tax collectors. I can similarly make private and corrupt transactions with fiat money also in secret.
6. Cryptocurrency is volatile
Stocks are also volatile. Check out how volatile the Amazon stock has been.
Anything can be used in funding terrorists attacks. Even before anyone thought about Cryptocurrency terrorists has been receiving funding and that was mainly coming from those in power out of greed cause they want to make money. They are now looking for ways to put everything on Bitcoin so that everyone will start seeing it as something bad. Foolish people. Bitcoin is good, it depends on who is using and what they are using it for. 1. Cryptocurrency is a Ponzi scheme
The whole economic system beginning from demand and supply is a Ponzi scheme because in demand and supply, someone profits from the loss of someone else.
2. Cryptocurrency has no intrinsic value
A government stamp on paper does NOT give it intrinsic value. With your fiat so-called intrinsic value, why does the value of all fiat keep on dropping in value?
3. Cryptocurrency can be used to evade tax
The ONLY legal tax is income tax and nothing else. And it is not wrong at all to not pay all of those extra so-called taxes to any government whether good or bad.
4. Cryptocurrency can be used for terrorist activities
The internet itself is used for terrorist activities. Gold and fiat money also is used to fund terrorist activities and are done in private. So how will you regulate those dear regulators?
5. Cryptocurrency can be used for money laundering
I can money launder with gold also by simply burying the gold and hiding it from the eyes of tax collectors. I can similarly make private and corrupt transactions with fiat money also in secret.
6. Cryptocurrency is volatile
Stocks are also volatile. Check out how volatile the Amazon stock has been.
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