Topic: Some arguments used against Crypto-Currency - page 5. (Read 753 times)
I would note the only disadvantage of cryptocurrency, is that its price is too volatile.
I agree that crypto isn't perfect but what is perfect? to my mind, each person defines for himself/herself whether investing in crypto is a good idea for him/her or not taking into account all risks. I see more benefits in it
Crypto currencies have also a bad side, it is right. I think the biggest problem is the criminality. Crypto currencies allow payments without any third party and there are also some coins, that allow to make transactions that could not be tracked.
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.
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 see that the argument of the cryptocurrency imposition has no more influence. although argument arguments about crypto's ugliness continue in fact the user is increasing. and users are familiar with it all.
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.
Jump to: