What are your thoughts on crypto currency?

A short while ago I got the following question and one I am going to enjoy answering:

What are your thoughts on crypto currency?

To myself personally, I believe cryptocurrency is a way forward in changing how we think about money on a day to day basis and to get that away from a centralized location such as with the Government and banks. To be able to have a source of currency that isn’t subjectable to the will of world Governments is a great thing (although they do come with their own problems a Google search will go into these) for us as a society.

In terms of investing in them, however, I wouldn’t be so quick to jump into it. Bitcoin is one of the few cryptocurrencies that has actually made a profit and is trusted and the others I have heard about is somewhat questionable and I would not trust throwing your money at it.

Now I am now an investor but I can tell you the bubble will pop in future but the greatest benefit behind it is the technology we gained from it and the fact we can have a currency without Government input is a way forward in the future.

With all that said I love cryptocurrency and believe it will be the future but give it time and there will be laws either controlling it, making it illegal or some other stuff to make it unwanted and that is where cryptocurrency will really be tested as a currency that can be used daily and replace what we know about money now.

Reference Me

Kyle ben Avraham Avinu (קייל בן אברהם אבינו) (2017) What are your thoughts on crypto currency?. [online] Ask a Jew. Available at: https://askajew.co.uk/question/what-are-your-thoughts-on-crypto-currency/ [Accessed 13 Jul 2024]