As a community we should think harder about the risks associated with cryptocurrencies

The state of this subreddit is changing into an increasing number of alarming and it’s not due to worth actions. It’s pure to be hopeful and wish the worth motion to be optimistic, however today the fixed circle of affirmation bias in all places makes this place particularly really feel extra like a cult.

The principle cause I’m writing that is due to the latest Hillary Clinton interview / opinion on the subject of cryptocurrencies as a complete. Whereas studying the feedback for these particular posts, there was a relentless cycle of hatred in opposition to these ‘previous politicians’ and establishments, which gave folks extra gasoline to double down on their investments/ideology. Including to this – Nobody actually addressed what her declare actually means!? Most individuals for some cause see this as a optimistic piece of stories.

If governments or greater establishments on the whole at one level sooner or later understand that decentralized cryptocurrencies put their sovereign management over folks / cash in danger, can we really assume that they won’t take all of the measures obtainable to them to cease that from occurring? Sure, crypto changing into extra mainstream as a complete makes it more durable and more durable to cease it utterly – however this doesn’t imply that they won’t resolve to do it. Take China for example, due to the construction of their authorities they take an extended outlook on the longer term, which additionally permits them to see threats coming their means a bit bit sooner than western nations – thus they’re attempting to mitigate this threat a lot as potential. Western nations will finally catch up.. There’s a world, the place all of this ends very poorly for many of us right here.

I’m professional crypto, however I personally assume that the true take a look at for crypto will occur as soon as international locations get up to the problem and really attempt to do one thing. It is usually potential that it might not occur, however it’s irrational to ignore these unfavourable situations. As one of many largest cryptocurrency communities on reddit we should always attempt to inform ourselves and particularly new retail buyers of the dangers inherent inside this know-how/funding. It should undoubtedly gonna be a bumpy trip and fascinating in constructive dialogue will solely be useful for everybody.

In the long run, it’s not the extremely wealthy that get damage, however your on a regular basis Joes.

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