With regard to cryptocurrencies, I believe that they are either gold or casinos.

In recent times, there has been a great deal of discussion around cryptocurrencies. Due to the fact that I have already written an article about them, my view cannot be altered. It is possible that I will overlook anything significant for them and the advantages that they would provide. In order to look and read, I have logged into a significant number of forums. In each and every venue, Mr. Buffett is praised for his excellence as an investor. On the other hand, the same individuals also extol Bitcoin. There are, without a doubt, individuals who openly express their opposition to these crypto currencies. I wanted to find out where Mr. Buffett had placed his money and what his opinion was on the matter. It is his judgment that they do not carry a coefficient of useful action, and he has not made any investments for this reason. Exactly the same is my viewpoint. Bitcoin is also compared to gold in online forums. No words come to mind. Gold, in addition to being a raw resource that is utilized in a wide variety of applications, ranging from manufactured goods to ornaments, may also be traded for anything. One way to think about Bitcoin is as a form of cryptographic lottery. In addition to bitcoin miners and traders, the only chance for other people is that additional money will come in, which will allow them to profit, lie, and forecast when the price of bitcoin will go up. alternatively, for the price to drop and for the market to be volatile enough to allow for sales. This idea is only going to excite folks who are looking to become wealthy in a short amount of time. Although it is possible that this could be advantageous for certain people as a lottery and calculation, I do not believe that there is a way out of making a real investment in a business or creating surplus value through the use of cryptocurrencies. Just how many people would be content to get a salary like that? Additionally, there is uncertainty. This type of money that is created by governments has a way out. due to the fact that they might be regulated and, in some way, not have a lot of volatility. Just for a moment, let us say you receive a wage, but the next month, you are uncertain about your level of life. Consequently, I am unsure if it is a Ponzi scheme or simply a situation in which a large number of individuals potentially lose a lot of money that they have worked very hard to obtain. When we talk about a casino, we are referring to a place where you have to place a lot of bets, and the danger is not that you have invested in the company; rather, the risk relies on luck. It is one thing to put money into a company, but it is an entirely different thing to wager on a card, a chip, or a brand new game. If you have a sense of when people would buy or when they would sell anything to make a difference, then your chances of winning here are greater than those of winning the lottery. This, however, is not an investment; rather, it is a casino. This is not a personal attack; I am simply expressing my own opinion. 

Author Sezgin Ismailov

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. The advantages of cryptocurrencies. The only thing I understood well is that they use blockchain technology, which brings innovation to many other things on the web. I didn't understand how it's not known who created it. In the world of big data, it remains a secret. The other thing that is important is that the transactions themselves are still controlled by validators. Looking at the big picture, it looks like parliamentary government. Knowing the consequences of the mistakes of parliamentarism, what does it matter after that? Who will be responsible in the event of a potential collapse? The cons of cryptocurrencies. That is, there is no control body. 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 thinks any subsequent cryptocurrency will be able to hold their own is saying. Let me buy; I have a chance to get rich quick. He is quick to invest. What is he investing in...? I have no idea. Fintech-type money transfer app with a variable value. 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, whichever bank has a lot of clientele will also tune in and make its own cryptocurrency and charge for transactions. 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. Yes, if you want to buy something illegal, that's great. To pass tax-free is great. But if we don't pay taxes, even if we have all the cryptocurrencies, who will take care of the infrastructure and order. 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 do not confuse the password every time to make a transaction from one currency to another. Yes, a big deal as it only pays for transactions. Without any intention, you go on a trip to a country in a hotel where he has already paid. But there is no cigarette shop there. 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 example, only up to five maximum, with control from all nations. And if it is dug in only in one place untouchable for people to whom the whole world is to blame and think how 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 don't want to 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