Some arguments used against cryptocurrency

bituperio

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Quote from: Boombull on September 23, 2018, 06:40:51 PM

5. Cryptocurrency can be used for money laundering

This is my favourite one. Just compare how much money is laundered with crypto compared with the money that is directly laundered with dollars used in the real state industry and the football clubs, just as example. The order of magnitude must be like 1 to a million.

soundrum

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Another false argument against crypto is that it is being used in dark web but the truth is that fiat currencies are being used in dark web more than crypto currencies.

Boombull

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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 are used to fund terrorist activities and are done in private. So how will you regulate that 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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