An ordinary person's opinion about cryptocurrencies

I am not very familiar with these currencies. I have an overview of the net and the gossip around it. I understand the advantages of cryptocurrencies. Cryptocurrencies use blockchain technology, which brings innovation to many other areas of the web. I was perplexed by the fact that its creator remains unknown. In the world of big data, it remains a secret. Importantly, validators still control the transactions themselves. Looking at the big picture, the system resembles a parliamentary government. Understanding the implications of the errors in parliamentarism, how significant is it beyond that point? Who will be responsible for a potential collapse? The cons of cryptocurrencies. This means that there is no centralized authority. Each country has one currency. But anyone good with a computer can make cryptocurrency. As far as I know, there are already over 5000 species. I won't be surprised if they become over a hundred thousand cryptocurrencies. Anyone who believes that any subsequent cryptocurrency will be able to hold its own is expressing doubt. Let me invest; I have the potential to become wealthy quickly. He is quick to invest. What is he investing in...? I have no idea. A fintech-type money transfer app with a variable value could be the solution. But ask yourself the question. As long as there are heads of government and very powerful banks, will they leave the people alone to do whatever they want? Over time, a bank with a large clientele base will likely develop its own cryptocurrency and impose transaction fees. I think the biggest problem is saving your password or really knowing it. 

If you forget it, what do you do? I have no idea what happens when the owner of these cryptocurrencies dies. You go to a normal bank with your passport or a certificate for the heirs and you have the option of getting your money back. However, buying something illegal is not advisable. To pass tax-free is great. But who will maintain order and infrastructure if we don't pay taxes, even with all the crypto? For example, let's say a big company like Amazon makes a cryptocurrency and says it only accepts payment in that currency. You walk into Walmart, and it only accepts its currency. You go to McDonald's, and she wants you to pay with their currency. What does the average citizen do? Must have a smartphone. Please ensure you remember the password each time you make a transaction between currencies. Indeed, this is a significant issue, given that the password is solely used for transaction purposes. Without any intention, you travel to a country and stay in a hotel where the payment has already been made. However, there is no cigarette shop nearby. He goes to the nearby village, but unfortunately, he has no range, and what he does... I think that the disadvantages are much more than the advantages of cryptocurrencies. Yes, if they are digital currencies of continents (Latin America, North America, Europe, and Asia) + one as a pillar of the others. For instance, the number of digital currencies could be limited to a maximum of five, subject to the control of all nations. If it is dug in one place, untouchable for those who blame the world and think of ways to harm, then maybe there is a future. It's one thing to watch a fantasy movie; it's another to live a fantasy life. A third of the world still doesn't even have clean water to drink. But this wandering of many cryptocurrencies will someday lead to the proper digital currencies. I would rather not predict, but it will be the big, financially and digitally advanced protected states. I can't help but add the cost of mining energy. Where we must protect nature.

Author Sezgin Ismailov