Why Crypto has no future
Although most of the FUD is dying down there are still people out there who like to talk against cryptocurrencies and blockchain, one of these prominent FUDsters being the Economist Nouriel Roubini who saw the economic crash of 2008 come from many directions before it happened but at the recent senate hearing was very against cryptocurrencies calling it "the mother of all scams". There are still people like that around, these of course are reduced time after time again and will be long forgotten but their words can affect people who may be on the verge of not being sure of what they have gotten themselves into and if they should trust it or not.
It is important to tell people to do their own research but not everyone has the time to do that or know where exactly to look. Here is a post I recently read that brings some of the highlights this year and the few years before that into a concentrated article, I suggest you take a look.
Why Bitcoin and Crypto have no Future
LOL. Nouriel.
He’s been hitting it hard recently. Not sure what he has been hitting but clearly he’s way too vested in old money to see the light. Even though everyone around him is actually investing in blockchain. ¯_(ツ)_/¯
I’m going to take a punt here: he bought BTC some years ago and the idiot shared his keys. It’s most probably something like that. Because his arguments don’t hold ground. And for an economist... you would expect better reasoning.
I mean... Bill Gates would short BTC yet the Gates Foundation has now worked with Ripple to bring crypto to the 2bn unbanked people. Eventually, everyone sees it.
Except for Dr. Doom.
Oh, dear Dr. Doom... $3bn valued Morgan Chase backed Circle has acquired SeedInvest to run ICOs on the platform. Welcome to real non-FUD life.
Somebody give him a smoke account already.
https://medium.com/@omid.malekan/nouriel-roubinis-1991-testimony-to-congress-about-the-mobile-phone-bubble-e8a3c72032c3
His testimony was one of the better jokes of the year. He sounded like a Breitbart editor.
Check out his twitter. Hes lost all credibility and clearly fallen off the deepend.
If you listen to nouriel everyone who owns crypto is a racist as well.
Vitalik’s crash prediction was a beauty.
I’m really waiting for Nouriel putting his foot where his mouth is and taking up the offer of a public debate.
Vitalik offered an anti-Vitalik moderator. Nouriel doesn’t have the guts. He’s only bashing every potential moderator. He would probably even bash Lagarde because she has acknowledged the potential of blockchain. ¯_(ツ)_/¯
The problem crypto still has is accessibility a lot of people in many countries have terrible restrictions when it comes to obtaining or purchasing crypto currencies but I believe this is slowly improving over time.
What excites me the most about cryptos is how we are going to turn the stacks against the bankers that for years have been forcing us to go into a cash less society, madly increasing our dependence of banks but guess what, we are now going into a cashless society by our own will but not using their banks but rather using our crypto currencies, take that shady banks :^)
The bankers are already long in. Just check out who (directly or indirectly) backs Ripple and Stellar.
They all want in. They just have fiduciary duties which prevent them from investing if it’s actual tokens which don’t yet have regularizations. But they all want to tap that 2bn unbanked demography too. Even more so if they won’t be legally liable.
Yeah I agree for most of the cryptos out there, they have mostly no control over them and can't really force themselves onto you like they would if you had your savings on a bank!
True words! Don’t believe blind! Check it out by yourself! Always!!! No matter what people are talking about. Make own researches 🙏🏼🦋🙃✨ Steemit hugs 🤗
They forgot probably the most important one of all.
Renown economist and futurist George Gilder (who predicted, indeed inspired the iPhone and Apple watch 25 years ago in his book "Life After Television") has just published "Life After Google - the fall of Big Data and the Rise of the Blockchain Economy.
I have to admit to being a contrarian regarding crypto. BTC is clearly insecure and has been subject to price manipulation. Other cryptos are generally losing value. The main problem, even for the high-security cryptos, is the lack of demand. When cryptos become useful for trading, prices will rise.
By definition, money is both a medium of exchange and a store of value. Most cryptos are more volatile than foreign exchange, so they fail for both of these.
None of these arguments rule out specialized uses of cryptos. I don't know what they are, but I'm only one person.
You just planted 0.10 tree(s)!
Thanks to @rufusfirefly
We have planted already 6119.34 trees
out of 1,000,000
Let's save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 19039.63
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
Very click baity title :D
Cryptocurrency doesn't HAVE a future it IS the future.
By allowing our governments to control the money we have allowed them to control our lives.
Fuck the FUD, everything to ever exist is a ponzi scheme bubble waiting to burst, I could say the same about our very universe. The only people that lose are those that fail to execute.
With crypto currencies we may actually break the cycle of feudalism instead of just coming up with new names for it.
The only futures I see without cryptocurrencies are ones where the world ends without notice
First we need making all to win the netcoins contest, then we can think about the better future!
#STEEMFORTHEWIN!
Well that gave me a good laugh with click bait title. I can understand not everyone wants to jump aboard despite all those people in that article that have been carving space out. Even more so if they see people in there own life lose some money or they still things its some instant get rich get quick scam because that what they choose to believe.
Some peoples minds you can and never will change. Least people are more accepting of cryptocurrency these days. Try running a pair of these while in college and people think you are involved with the black market lol. That would been far more profitable compared to the tiny scale of what I was doing on old hardware back then.
I do miss just having to check on them and remembering not to touch them as they where very hot.
Bless all those doubters that finally come around and buy in at a much higher price once they realize or try to earn in a far more completive market of lower returns.
It's funny how often the news puts people on that admit they know nothing about crypto to shit talk it and say how they don't trust it...
It doesn't matter if someone is an expert in one thing financial, they have to be an expert in what you're talking about. You can't get someone on that invests in oil to talk about wheat.
I digress...mainly because it's only remotely connected to what you're talking about. :P
I think crypto does have a real future...though who knows if any of the current coins have a long term one. They provide a real use case. Even bitcoin is faster than a wire transfer. And you don't have some idiot at the bank questioning what the money is for.
People won't get the benefits until they start putting crypto experts on, rather than always finding someone that knows nothing about it, but is a "financial expert".