Why do I say no to cryptocurrency?

Let me list down the disadvantages of cryptocurrency to the global community:

1. Deregulated/ Decentralized cryptocurrency transactions open doors to unaccountable black money and money laundering by the dark side of society. This is why many Nations have banned cryptocurrency for their Nationals.
2. Abnormal/ Monstrous power consumption of the mining servers causing climate change.
3. Increased gap between the rich and the poorest, just like stock markets did to the developed nations.
4. Losing entire cryptocurrency if one forgets the password and can never retrieve the cryptocurrency in case of incorrect to the crypto wallet.
5. Cryptocurrency can be hacked as well.
6. The value of Cryptocurrency is subjected to speculation and can make one either too rich or too poor at times.
7. Exponential needs for computing power when the number of cryptocurrency transactions increases might cause the system to collapse.

Some consider investing in cryptocurrency make them easy money which might never happen. So, I strongly recommend all the WISE people to stay away from Cryptocurrencies.

Check out Fallov — Meet New People & Friends Near Me | Find Matches Online

Originally published at https://blog.fallov.com on April 10, 2021.