Why I say no to cryptocurrency?

End of Bitcoin.

 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 the primary reason 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 the way stock markets did to the developed nations.
  4. Losing of entire cryptocurrency if one forgets the password and can never retrieve the cryptocurrency in case of incorrect attempts of login to the crypto wallet.
  5. Cryptocurrency can be hacked as well.
  6. The value of a Cryptocurrency is subjected to speculation and can make one either too rich or too poor at times.
  7. Exponential needs of computing power when the number of cryptocurrency transactions increases might cause the system to collapse.

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


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