Tech Talks

13 Reasons Why? We Love/Hate CRYPTO

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Love it

  • Crypto is the Future! What Internet was in the late 90’s, Crypto is right now and can offer massive returns on your investments!
  • Decentralised – No government or institution involvement, your money is transferred or kept directly with you!
  • Fast transactions – no middlemen involvement means fast and zippy transfers.
  • Liquidity – With cryptocurrencies you can buy and sell on the fly. Markets run 24 hours a day and seven days a week.
  • Secure – Unlike a Credit card, you just share what you owe to the other party and you do not expose your entire credit line.
  • More than 1300 Cryptocurrencies – Lots of options to choose from!

Hate it

  • Extreme volatility – Investing in cryptocurrencies involves very high risk, as prices have been extremely volatile. Many experts are sceptical about bitcoin as an investment primarily because there is nothing for them to analyse.
  • No Regulations – Unlike other investment avenues, cryptocurrencies are not regulated by government entities or banks.
  • Legal or not? – One major hurdle in the path of Indian investors who are interested in investing in cryptocurrency, is the confusion about its legal status.
  • Safety – Bitfinex is a Hong Kong-based cryptocurrency exchange that has been hacked multiple times. Most recently, about 400 days ago, $65 million dollars’ worth of bitcoins were stolen.
  • No Market Cap – “Market cap” is based on a claim on a company’s assets and future cash flows. Bitcoin (and other cryptocurrencies) has neither
  • Unstable – In the past few months, Bitcoin has suffered some tremendous crashes, slashing its value in half from around $1000 per Bitcoin to $500.

What we agree on

Because cryptocurrencies can be used anywhere and are hard to be traced, they can be used on what is commonly referred to as the deep net or dark web.

 

– Curated by Konark Tyagi & Utsavi Jha

 

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