Having read about cryptocurrency on Straits Time (
1 and
2), I think it is widely misrepresented.
There are some truth in these articles but I believe the concept of asking people to invest in this product is simply just wrong as of NOW.
Reasons being:
- Marketing being root of all evil.
I think cryptocurrency is a disruptive technology on cash. But people seem to have misunderstood the use of cryptocurrency.
It started as a form of payment and not investing. But a lot of websites started marketing it as a form of investment product
(due to cryptocurrency being subjected to free market forces) and people started to buy to keep.
But it is technically useless if a cryptocurrency becomes super expensive.
If a bitcoin is $2k currently, what can you use to pay it? Use bitcoin to buy diamond? Or buy a loaf of bread?
- Bubble ...
...
