Some arguments used against Crypto-Currency - page 2.

Beargas0

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Quote from: localcrypto on October 17, 2018, 01:57:15 PM

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.

Most of tokens are compeltely useless or dead, which gives cryptocurrency opponents a lot place for maneuvers. It should be changed.

Georgiyk

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Cryptocurrency has two sides of the same coin. She has both positives and negatives. But, in my opinion, she has more advantages. And I think so not only, but everyone who is interested and engaged in cryptocurrency. Otherwise we would not be here.

sinkfish

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Quote from: localcrypto on October 17, 2018, 01:57:15 PM

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.

Crypto is build by blockchain, a decentralize ledger. record that cant be tempered with. fiat is not. bank can keep printing money out of nothing, based of nothing= virtually no value and near zero cost.

where crypto is not, blockchain need to be create 1st, cost require, quantity is limited, transaction can be done anonymously. freedom of finance from centralize system, i.e: bank and government.

Downloaded

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Quote from: localcrypto on October 17, 2018, 01:57:15 PM

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.

Anonimity of crypto it is the biggest issue. That is why we need to be more transparent. Of course, we can have some privacy, but it is too much.

Khiceog

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You are wrong about Ponzi schemes. There are a lot of tokens that are Ponzi schemes, but biggest cryptos is something completely different.

Arcanefist

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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.

Gopo6789

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it is probably now fashionable to talk about the shortcomings and advantages of cryptocurrency. this is everywhere they say. what's new? of course all this world has its weaknesses and strengths. the world is dual or multiple even. all you need to compare and evaluate.

E_3fff

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Quote from: qolaqola on November 28, 2018, 03:07:18 PM

well it's true cryptocurrency has its drawbacks as well as advantages. cryptocurrency is a tool, and the evaluation of its use depends on the user. any thing can be criticized and praised. but the responsibility is always on the person.

I agree with you. of course to be patient is to have a certain character and mindset, sid will. and it's all very kurto. but sometimes it's good not to. you need to be able to assess the situation and make decisions.

qolaqola

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well it's true cryptocurrency has its drawbacks as well as advantages. cryptocurrency is a tool, and the evaluation of its use depends on the user. any thing can be criticized and praised. but the responsibility is always on the person.

tytanhamon04

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A nexgen decentralized ride hailing

Quote from: bolshojkush on October 17, 2018, 02:59:45 PM

People who are used to profit from other people due to the centralization of the banking system will always be against the decentralized cryptocurrency. And will speak negatively about it. This has long been known to all.

I think that you are right and at the moment the whole world is looking in favor of a decentralized system for earnings. Banks and their supply in the market are outdated and they sweat something to change or they will have serious problems and debts in the future.

bouren

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Someone wrote that Cryptocurrency is just like internet but 1988. Crytpos are still pretty new and will naturally have people against the whole concept. It is diruptive technology with decentralized system which is not acceptable to many centralized institutions. Such apprehensions are quite natural.

florianuhlemann

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in any payment system, you can use such schemes. therefore, none of the payment methods can avoid this negative

krenus

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W12 – Blockchain protocol

Quote from: localcrypto on October 17, 2018, 01:57:15 PM

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.

it's simply fantastic how you comment on it! i totally agree with your view regarding internet and terrorist activities. crypto, internet, fiat are just tools, and those who holding it give it a colour, not vice versa

sgenuine

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What do you want to say with this article? You can find bad moments everywhere. There are a lot of bad people in this market who try to cheat. But I am sure that in the future it will be controlled by the authorities.

coinplus

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I have been in this space for over 6 years and I can really judge it from inside and when I say something is bad in crypto I probably say it because I had that issue affect me before. I am not some media personality that reacts to increases and decreases in crypto without really knowing anything about it and just try to get viewership via doing extreme talking. I think the problem with bitcoin is that sometimes it is too stable for its own good and sometimes it is too volatile.

The price has been between $6.2k and $6.8k for over 5 months now and that kills the interest into bitcoin and crypto currency in general, however when it was $3k it went to $20k and went back down to $6k that also really hurt most of us as well (thankfully I got out at $18-$20 range, pure bliss and luck) and that is why most people leave bitcoin because they have lost a lot during bear market.

The price shouldn't be too stable and it shouldn't be really too swinging as well, it should be going up and down a bit but overall go up in a trajectory, for example go up %5 than go down 3% than go up %5 than go down 3% and so forth in the upcoming years, this moody changes constantly really hurts the price and the interest to it.

Angleworm

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It's true that bitcoin has some flaws. But look at the bright sides, how bitcoin has helped people. Every system has flaws but that doesn't mean it can't be good.

Micronometer

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Well, your arguments are concise and spot on. It's absolutely true that the things people complain about bitcoin and other altcoins are almost exactly found in fiat system, sometimes even more. This is indeed a double standard criticizing cryptocurrencies alone.

Onardonwan

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It's true that bitcoin has some flaws. But look at the bright sides, how bitcoin has helped people. Every system has flaws but that doesn't mean it can't be good.

Haethiel

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All valid points mentioned in the topic but there are many advantages too. Everything in this world has both good and bad sides, we should not focus only the negative sides.

dizzy1996

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MoonDeFi

Well, the first minus is the frequent cases of fraud, from which no one is immune, as they improve their frauds regularly. also one of the problems is the lack of adoption and determination of the status of cryptocurrency in many countries

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