Regarding cryptocurrencies, they are gold or casinos

In recent times, there has been a tremendous deal of discussion around cryptocurrencies. I have already written an article about them, so I cannot change my opinion. It is possible that I will overlook any significant aspects or advantages they might offer. 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. The same people, however, also rave about Bitcoin. There are, without a doubt, individuals who openly express their opposition to these cryptocurrencies. I wanted to know where Mr. Buffett invested and what he thought. He believes they have no useful action coefficient, so he hasn't invested. My viewpoint is exactly the same. Online forums often compare bitcoin to gold. 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. The only way for others to profit is if more money comes in, allowing them to lie and predict when bitcoin's price will rise. Alternatively, the price could decline and the market could experience sufficient volatility to facilitate 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. How many people would be content with such a salary? Additionally, there is uncertainty. Government-created money offers an escape route. 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 many 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 know when people buy or sell, your odds of winning here are better than 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 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. 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