Cryptocurrency is gold or casino - my opinion

 Lately, there has been a lot of talk about cryptocurrencies. I have an article written about them and my opinion cannot be changed.. I might miss something important for them and the benefits they would bring. I have logged into quite a few forums to look and read. In all the forums, Mr. Buffett is glorified as an investor. But the same people also glorify Bitcoin. Of course, there are also people who speak out against these crypto currencies. I was looking to see somewhere where Mr. Buffett invested and his opinion. He has not invested and his opinion that they do not carry a Coefficient of useful action. My opinion is the same. Forums also compare bitcoin to gold. I have no words. Gold, apart from being a raw material that is used everywhere from industry to ornaments, can also be exchanged for everything. Bitcoin can be defined as something of a lottery. Apart from bitcoin miners and traders, the only hope for others is for more money to pour in and thus profit and lie and predict when it will go up. or for the price to fall and to be able to sell at this volatility. Only people who want to get rich quickly are ecstatic about this thing. Yes, as a lottery and calculation for some people, this may be profitable, but for real investment in business or surplus value, I do not see a way out in cryptocurrencies. How many people would be happy to be paid like that? Uncertainty and more. Such money created by governments has an exit. Because they may be regulated and somehow not have much volatility. Imagine you get a salary and the next month is not sure about your standard of living. So I have no idea if it's a Ponzi scheme or just a lot of people can get burned with their hard-earned money disappearing fast. This means a casino where you have bet a lot and the risk is not that you have invested in the business but rather you have bet on luck. It's one thing to invest in a business, another to bet on a card or a chip or some new game. Here the chances are more than the lottery if you have a sense of when people would buy or when they would sell to make a difference. But this is not an investment, but a casino. I am expressing my own opinion, nothing personal. 

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. 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. Fintex-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 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