Bitcoin is rising again. Do you think the dollar might be replaced by crypto in the future?
Giacomo Bretel-De Simone
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Migu Rico@migu_rico
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Ringly.io
No shot. I think crypto's downsides are bigger than it's upsides, so it will never take over
Ringly.io
@french_ninja I think crypto has shown to be very dangerous in terms of big scams. I think this will get regulated more, but probably by limiting the freedom we have now with crypto. That's why I don't see it as a good long-term option for investing. Not even speaking about giving criminals a tool to keep them in business and make their lives easier.
@ruben_boonz Interesting take. Mind detailing the downsides and upsides?
@ruben_boonz interesting argument. There have indeed been a lot of scams in crypto, but it's a brand-new sector that needs to mature. Plus, more and more qualified, honest people are entering the field which contributes to improving the quality of what's developed there.
Interestingly, cash is way more used by criminals than crypto: https://cointelegraph.com/news/c...
Crypto is 100% transparent and traceable, cash isn't.
No! The case against Bitcoin is grounded in several critical concerns that challenge its viability as a sustainable and secure asset. One of the most significant issues is its environmental impact. Bitcoin's proof-of-work mechanism requires immense computational power, leading to substantial energy consumption that has raised alarms about its carbon footprint.