Topic: Some arguments used against Crypto-Currency - page 4. (Read 737 times)
There are many arguments about crypto and crypto still walk on its way. So, I think we should not feel worried about any arguments out there. Maybe they just don't understand the crypto well, if they know it, I think they will join us here.
I disagree with the first statement. I don't understand how can it be that cryptocurrencies are compared with a Ponzi scheme! There's a scam but ETH has no crucial peculiarities of fraudulent schemes! Only narrow-minded people can say such things.
Yup, these arguments were against the crypto almost from the beginning. But crypto wasn't always there, the crime and the tax avoidance and illegal transaction also happened then too, even now without using it. So crypto isn't in the criminal position, it just help to make the exchange easier.
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.
You have already listed all the negativity against cryptocurrency but I'm still confident that this is our future currency and we need to prepare for this to take advantage while they are still doubtful about this technology. Sooner or later those people will realize that they were wrong. 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.
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.
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.
As I have noticed lately that mostly of people against cryptocurrency are those who have experience and victim of scam like some of those networking scheme , and a ponzi scheme , but it is better not to engage in argument to them .
People who are used to profit from centralization of the banking system will always be against the decentralized cryptocurrency. They use those arguments cause they have less knowledge about the positive sides of crypto.
Some people don't always get the big picture. There is no denying that Crypto has a bad side too. But once they get to see what bitcoin really is and the opportunities it holds they will change their mind about it.
For who did not understand it is an advanced technology, and the Governments and banks that hardly accept it, and will control everything that means blockchain. From 2019 we will have a stable market.
Those arguments are indeed almost always make when people have bad things to say against cryptocurrencies but the reality is that they use those arguments 'cause they have little to none knowledge what really goes on and what are the positive sides of crypto.
Nevermind, someone that used it to judge crypto never try to learn about what the crypto is. So many times these statements have used by someone that never tried to learn more about what the crypto currency is. He was obviously lack of knowledge about that and that will be useless to tell him about that. 
Those who consider crypto-currency as a ponzie scheme does not actually know what ponzie is and how it works. Ponzie makes you invest money on it, get more people to join you, will promise you to give a fixed amount of profit and will run away once they have enough people investing on the ponzie. In case of crypto currency, no one forces you to buy it, there is no one who can run away with your money and it never promised any kind of fix profit.
In case of terrorism, we have seen this kind of activities taking place from the very beginning. Fiat money is heavily regulated, but still money laundering takes place and no one can do anything about it. If you blame crypto currency as a source for funding terrorism, you should equally be blaming fiat currencies too.
In case of terrorism, we have seen this kind of activities taking place from the very beginning. Fiat money is heavily regulated, but still money laundering takes place and no one can do anything about it. If you blame crypto currency as a source for funding terrorism, you should equally be blaming fiat currencies too.
I think cryptocurrency is a proof of the progress of age, and make it easier all human to do the transactions decentralized, to 6 allegations it is a scheme to boost the community crypto, because every problem there must be pros and cons
Well point shared by you there is lack of knowledge about cryptocurrency in the peoples who always criticize cryptocurrency is volatile, Ponzi scheme etc. But time will come they will loose this excellent opportunity & join the race later like most of us have joined who missed Bitcoin & Ethereum earlier when both of this was very less compare to its present price. Also the justification given by you on all miss consumption about cryptocurrency is very appreciable & we know the potential of cryptocurrency, hopefully this negative peoples will also realise the potential of cryptocurrency & blockchain technology but it will be too late for them.
There will always be arguments against a different system such as the cryptocurrency. People often try to show logics against this currency and says that this currency has some very bad sides. However, what they ignore is that even the fiat currencies share the same negative sides.
The same arguments can be used in fiat. Therefore, it is not necessary to talk about cryptocurrency only negative aspects. I think crypto has a lot of positive arguments. Usually, the negative sides are always seen by the newbies, (because they read and hear someone), while the positive ones are not even noticed.
There will always be a group of people that find issues against Cryptocurrency and it is normal. Everyone is entitled to their opinion but talking against Cryptocurrency isn't discouraging many people as with each day more people are considering using or getting into Cryptocurrency. Most of the people who talk against it also don't know Cryptocurrency that well and with time we could hope that group who talks against will grow smaller.
There is nothing good in life that will nit have oppositions. Whatever will not have opposition is that which is dead. Cryptocurrency is very much alive and it is living to bring about liberation to many. Do you know that there are some people that are living based on the ignorance or weaknesses of some people, which is why they will not want them to be exposed to cryptocurrency, because they might be liberated.
argument "6. Cryptocurrency is volatile" is not true, because other markets can be much more volatile - best to say - Cryptocurrency is very low liquid.
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.
This same arguments were there when internet was discovered some years ago. I believe that as human beings we are entitled to our opinions and our opinions really matter in the scheme of things. We are to accept were they are right and amed it and reject were they are wrong. The other currencies has also been used to commit all those crimes they are arguing about.
Damn I often find this question in some discussions in online forums or offline. Those who argue like that are just afraid of cryptocurrency being implemented or those who are late in following the crypto trend haha. But if I am asked I usually just say "Read first what blockchain is" more simple, if they ask again, we just need to ask back "Have you read what is blockchain?".
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