Some arguments used against Crypto-Currency

[Braeden Hahn]

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.

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[ityandsyn]

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.

       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 .

[PG13]

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.

[Danielle Lewis]

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.

[Nastinmel]

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.

[kafiddrhman]

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.

[Hamphser]

6. Cryptocurrency is volatile

Stocks are also volatile. Check out how volatile the Amazon stock has been.

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.

[zhengqi]

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.

[socksserver3]

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

[kendra1107]

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.

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.

[Ojengonggu]

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.

[Quidat]

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.

[traderethereum]

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.

[Viscore]

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.

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.

[Flamebellow]

1. Cryptocurrency is a Ponzi scheme

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.

[Levious]

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.

[mirgo1791]

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.

[iTradeBit]

Cryptocurrency as anithing has pros and cons.

[Grifosha]

Some arguments used against cryptocurrency :

1. Cryptocurrency is a Ponzi scheme

The whol.............

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.
Fortunately, cryptocurrencies are developing, despite the opinion of skeptics.

[gaslyant]

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.