Cryptocurrency. The word evokes mystery, curiosity, fear, and sometimes disdain. It’s little wonder that this new form of money has got people’s attention and has them divided across the board. Is it good, is it bad? Is it the next stage of evolution? Is it here to stay or pass by like a hot trend? Well, these burning questions have kept the crypto pundits busy for a long time. But the one we hope to find the answer to is a more direct one – is cryptocurrency a boon or bane. Over to Open4profit who’ll give us his expert insights on the same.
It’s a boon
Money makes the world go round. But when you don’t have it, it can make your head spin! Crypto, it seems, has the potential to level the playing field and, as Open4profit puts it, “put the haves and the have-nots on the same pedestal. Crypto has none of the frills that are attached with traditional banking. To begin with, it does away with middlemen. It can greatly reduce the cost of documentation and bureaucracy and can even streamline complex processes such as the stock market. What’s not to love?”
It’s a bane
How bad can a thing be? What makes something bad? Is it in the essence of something to be bad or evil, or does its bad-ness lie in the way it’s used by people? These are not just mental wanderings of armchair philosophers but genuine questions asked by those who are yet to come to terms with the change that crypto is, on the one hand, promising and, on the other, threatening them with. For Open4profit, this initial emotional response is not without a basis. He says, “When one hears Bill Gates call crypto a fool’s theory, one tends to stop one’s thinking dead in the tracks. And it’s not difficult to understand why. Whatever Gates’ beef with crypto, the common man is unable to part with their belief in crypto because, for one, it’s not a legal tender in most countries, there’s no uniform law regulating their exchange as of now, crypto fraud is a real threat and are open to being hacked. These concerns are real concerns. And if the builders of crypto want people to veer in their direction, they better start addressing these concerns sooner than later.”
Thanks to Open4profit, now you can make up your mind about crypto with ease!