The modern global financial system requires major changes. And if 20 years ago only some economists thought so, then today, this statement is a 100% axiom. Fiat (paper, credit) money that is not backed by gold or other real assets lives out its last days. They have long been a convenient tool of deception, as for such giants of the world economy as the USA, China, Japan or the United Kingdom, and for the underdeveloped countries. A dollar that many would like to get rid of, but do not know how to do it with minimal losses, is a real threat to the entire world economy.

In this situation, no one dares to become the initiator of radical reforms. More precisely, almost no one. The semi-mythical programmer Satoshi Nakamoto (many researchers of this topic claim that the well-known businessman and scholar Craig Stephen Wright is behind this name) created a new electronic money – Bitcoin cryptocurrency. But is it worth to trust this invention? Is military-technical cooperation the money of the future or is it one of the biggest scams of today?

 

cryptocurrency scam

 

Common issues related to cryptocurrencies

In the era of the Internet, powerful computer technology and modern gadgets, the emergence of a fundamentally new electronic currency can be considered a completely natural phenomenon. Despite the fact that this topic is one of the most discussed around the world for more than a year, many people have little idea what cryptocurrency is and how it functions. If you do not delve into all the nuances, you can select the following main features of this new means of payment:

● All transactions using cryptocurrency are carried out anonymously and directly between the participants of the operation.

● No one can influence or cancel a completed transaction (even the courts, administrative authorities or law enforcement agencies).

● Anyone can earn a cryptocurrency, but no Central Bank of the World can influence this process.

The foundation of new electronic money is blockchain – an innovative technology that allows you to keep effective records in any field of human activity. Formed a chain of blocks filled with certain records. In addition, each next block contains information from the previous one, which excludes the possibility of adding false data. One more important point is distributed information storage. You can destroy the system only if you simultaneously break down all the computers of its participants, which is practically impossible.

● Cryptocurrency is not subject to inflation.

All the above signs characterize a new digital currency only from the positive side, but everyone knows that any thing / phenomenon will always have some flaws. In this case, the following negative points can be identified:

● The government of any country may prohibit the circulation of cryptocurrency at the legislative level.

● Practice shows that over time, even the most reliable systems can be hacked by intruders.

● If the owner of the crypto profile loses access to it, it will lose its savings.

But against the background of the listed advantages of new money, given the transparency of all operations carried out with the help of digital currencies, these problems are quite surmountable.

Who does not benefit from the development of digital money?

Among the above disadvantages of cryptocurrency is not listed one of the most important. They are ideally suited as an anonymous means of payment for representatives of the underworld, terrorists, various religious sects, etc. But, if we consider this issue solely from the position of a financier, these problems should be solved by the police and other law enforcement agencies. Although not all agree with this opinion.

Analyzing the latest news and statements of well-known businessmen, bankers and politicians about the new money, one can find a lot of opposing opinions and convincing evidence of both opponents and supporters of cryptocurrency. Naturally, countries that have a real impact on the global economy are unlikely to want BTC, ETH, BCH or LTC to become the main world currencies. Fiat dollars provide an opportunity for almost nothing to acquire resources in the third world countries. Transparent digital money clearly does not like bankers, insurance companies, large corporations and other firms that, along with the legal business, conduct questionable operations. But this is on condition that the tax authorities will have full access to all crypto chains of commercial structures.

If we analyze the attitude towards digital money of specific countries, then we can say that their obvious opponents are: China, Indonesia, Bolivia, Ecuador. Over time, the policies of some individual states in relation to cryptocurrencies can change dramatically.

But, it is also worth being sober-minded and realize that a cryptocurrency may not be what you think. Absolutely all digital money can be tracked if desired. A logical question arises: are they trying to slip the next fable of a free life? After all, identifying a user by his currency purse will not be difficult. Is it all the way they really tell us? The governments of countriesbehave very strangely in relation to cryptocurrency and do not resort to tough measures. Doesn’t that seem strange to you? After all, cryptocurrencies incur losses for fiat money of all countries of the world. There is something to think about. But, let everyone draws conclusions himself.

What will happen to cryptocurrencies in the short term?

Despite all the positive aspects of cryptomonet, at the moment they remain a speculative asset. And according to well-known analysts, the situation will not change until legislation has been passed that regulates the circulation of digital money. Much depends on the position of China on this issue.

In addition to political and economic factors that may have a significant impact on the rate of cryptocurrency in the next year or two, we should not forget about the role played by the media in this matter. Serious traders are quite happy with the situation when around popular digital currencies artificially create “much ado about nothing.” This allows you to earn good money on small, but controlled changes in the rate of popular cryptocurrencies (first of all, Bitcoin). Many financiers believe that in the first half of 2019, serious shocks are not expected in the considered market. And if the first countries of the world do not show any legislative initiatives that can seriously affect the turnover of cryptomonet, then their value (in relation to the dollar) will significantly decrease by the end of the year.

In another scenario, in a year a serious growth in the rate of the main digital currencies is expected. But this requires a serious political or economic factor that will force potential investors to pay attention to the cryptocurrency market, as it is the safest in the current situation.

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“General Risk Warning: Binary options and cryptocurrency trading carry a high level of risk and can result in the loss of all your funds.”

Cryptocurrencies – freedom or scam?
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