MultiversX Tracker is Live!

What are some criticisms of crypto that are still valid? What still needs to change?

All Cryptocurrencies

by COINS NEWS 101 Views

What are some criticisms of crypto that are still valid? What still needs to change?

Most of us are still here because we want to see crypto succeed. We can cut out a ton of unecessary and expensive intermediaries with direct P2P transactions. Most of what banks do can be automated and taken away from bankers. Permissionless tech can open up access to businesses, people and creatives. There's a lot of opportunities, with a lot still to come. And a lot of people are here because it's a high risk environment with potential for big gains - and that's fine too. There's a lot of different things for a lot of different people, and I think we're still going to see a lot of things created that no one has really imagined yet.

https://preview.redd.it/sidq7shmqiab1.png?1440&format=png&auto=webp&s=d794e3f06344db05587d0cc8e5866d37f8633e29

We've seen off a lot of the criticisms. Bitcoin has died hundreds of times, and has been through enough bear markets that now big institutional investors are taking it very seriously. The idea that crypto is just for crime has been disproved by researchers in various ways. Most of the mainstream criticisms of crypto are unsophisticated (it's a bubble) or irrational (how can I trust internet money?)

https://preview.redd.it/kxcv0g4pqiab1.png?640&format=png&auto=webp&s=53a7de59cfcd6d8d2ab58ec08a3548c81fa35044

But there are still legit criticisms of crypto, and big problems that really need to be solved before the next bigger wave of adoption:

- The space is still absolutely full of scams, from dodgy exchanges, pump and dump meme coins, fake airdrops and phishing.

- The user experience is still pretty bad. It's getting a lot better, and I think this will really improve a lot over the next few years. But if you don't get scammed, there's still so many ways to lose a lot of money by accident.

- The state of information and crypto 'journalism' is terrible. There are a few good sources, but for a new user they are very difficult to find. Most of the 'information' and 'analysis' is from various scammers and grifters who are good at gaming social media and search algorithms.

So what criticisms are still valid? If we're going to see a bullrun before the coming Bitcoin halving, and adoption that comes with a bullrun, what do you think still needs to change most urgently?

submitted by /u/ChainsofCastamere
[link] [comments]

Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments