Bitcoin Forum

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 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.

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.

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.

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.

I would note the only disadvantage of cryptocurrency, is that its price is too volatile.

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?".

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.

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.

argument "6. Cryptocurrency is volatile" is not true, because other markets can be much more volatile - best to say - Cryptocurrency is very low liquid.

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.

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.

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 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.

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.

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

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.

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.

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.

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.

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.

       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 .

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.

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.

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.

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.

Its always been volatile as long there are engagement between buyers and sellers then price wont really be fixed but if we do based up on how volatile between these
things compared to crypto then we would able to say that crypto is way too much that's why it cant really be easily accept or adopt by merchants or big companies due
for that reason.Lots of arguments actually but crypto can manage on its own path.

Those who are afraid of crypto will find thousands of reasons why it can be dangerous. They do not understand the possibility of blockchain and cryptocurrency and try to resist it by all means. But crypto is not bad, it is not necessary to be afraid of.

I have checked the list offered by you and I can agree with all those points mentioned but I am sure that btc is the best coin, regardless the arguments against this coin. I consider it very powerful

These are normal reactions from those who do not fully grasp the core value of crypto. Negativities placed upon something that has potential of making a  great impact on economic growth and development. Not only in one nation, but on a worldwide scale! Cryptocurrency is still considerably in its early stage. So much more will happen in the years to come. More negative inputs will certainly be made. But crypto will continue on moving forward.

This negative thing about cryptocurrency is a natural thing that is usually stated by someone or a company who feels that he is threatened with the existence of Crypto, but somehow they make a negative issue about Cypto will not be able to weaken the crypto journey for future economic progress of Glabal.

Though you were right it is often the topic that they seems to debate here, specially the legality of bitcoin in some countries. And on how to help their economic crisis but people are still supporting bitcoin and other altcoins no matter what they say to it. I guess this is how other people live their life no matter what the people say.

The arguments want to make people afraid to invest their money in cryptocurrency. Those arguments are like negative news in the cryptocurrency, and they don't want to see another people come and join to get the benefits of cryptocurrency. They still do this to many people because they are sure that people can become afraid and worry if they made that bad news in over and over. But they will never realize that the people will learn more about crypto so people won't be afraid anymore with the bad news.

People does and the community are welcoming for these instead of ignoring crypto. A lot of FUD's coming around and it looks like it won't makes sense at all. In fact, cryptocurrency continue its wide growth and could be known already in different country.

It's true , but it is necessary to recognize that the existing financial system in its essence is the same ponzi scheme like a crypto.The only difference is that the whole world is involved in it and people’s trust in it is much greater, but this does not mean that one day this trust will not disappear.

Well said, I think this is why we like crypto. The only thing that is needed for crypto now is legalization. If it is legal, then all problems will disappear.

as works with customs on field with finance to requires of more with chance on decision to attains with tasks of modest with arrange of evaluation that developer might spends with parts on possession with the authorization of resource to gains with shifts on difference as extending exchange to deliver with modest on works with qualification.

Cryptocurrency as anithing has pros and cons.

I agree with you.
Everything is new opponents. Do not become an exception cryptocurrency.
At one time there were people who said that it was necessary to stop the development of the Internet in order to preserve libraries. ;D ;D ;D
Fortunately, cryptocurrencies are developing, despite the opinion of skeptics.

I just read a thread on this forum called "is global warming scam?" so I don't know what some people are feeding their brains with. I saw people with genuine concerns and I think those are gonna be solved in time as blockchain proves itself even more. Some people are not risk takers. But making claims as such without really looking into it is annoying and those people won't listen to your logical arguments like in the case of global warming.

The most important argument against a crypt is that banks and the government cannot control the cash flow, and this is their most important tool for pressure.

Regarding last topic of your post I would say that volatility is something I keen on crypto.
With volatility we can make a good return  in a short period of time, so I am a fan of volatility. Don't blame it

Arguments are going against crypto world some are saying it is just to hide oneself from taxation. other are saying, It is laundering of money different people have different opinions.

The argument that you have made, all of it will disappear with the time process. Cryptocurrency will always be confronted with negative information because of the decentralized system, and even I can conclude that cryptocurrency is anti-government. So as every cryptocurrency will develop, automatically new negative information will appear to drop it back.

But keep in mind, sooner or later the cryptocurrency will develop because everyone will realize if they study cryptocurrency well, I mean they read about cryptocurrency from a neutral source. If this happens, then I'm sure there will be lots of people out there who will receive the cryptocurrency well, accepting the cryptocurrency with the function that it will feel.

Well, it's always like that. There will be always be arguments especially on new things.  Cryptocurrency is a new thing and people will always find ways to put it down especially those that will be affected with the change. Crypto currency is far from perfect but it is something that we can work out with in order to make our system much efficient. Cheers.

There will be many more arguments that are given by the media or people who hate crypto. the arguments, sometimes lay without any proofs or experiences. They only know from the media or news generally. However, whatever the argument, I myself still here in crypto and support this. why? because I believe in crypto, I also have many arguments that support cryptos.

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

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.

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.

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.

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.

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.

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

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

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.

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.

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.

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.

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.

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

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.

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. 

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.

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

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.

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.

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!

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.

Add scalability, lack of control and taxes, and of course volatility. Here you have long bears as a consequence of these reasons.

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.

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.

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.

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.

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.

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.

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

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.

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?

 ??? ???

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.

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.

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.

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.

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.