Right now the crypto world is really blowing up and there are more people looking to invest in this space than ever before. With this being said however, and whilst there are many more companies on board than ever before, there are still many who don’t like what crypto has to offer. Most people in the know, experts like Robert Testagrossa, are well aware of why there are so many naysayers out there. This is something which we are going to elaborate on today, and whether they are right or wrong, here is why so many don’t believe in this idea.
One of the biggest reasons why so many don’t like crypto is that they see it as a very real threat to the normality which they have known for such a long time. The idea that crypto can be fully decentralized and that it can be on offer without anyone looking over it, is something that just seems entirely foreign to them. This is why so many just cannot get their heads around what crypto currency is trying to do.
One of the reasons why so many like crypto is because it appears to be the democratization of money, taking back control of currency and economics from those who control it. Currently the world’s economy is pegged to the greenback and that is how the US have been able to have much control over many countries. Crypto tips this completely on its head and those who are currently in control, what absolutely no part of it.
There are so many measures in place when it comes to the stock exchange that huge drops or rises are very difficult to achieve. In the case of crypto however, such measures are not in place and that is why many hate it. The reality is that this is a very volatile market indeed, and nobody can deny that. The result is that many people are scared off from this kind of currency because they feel that with so much volatility they simply are not able to trust the market, which again wards people off.
No Way of Spending
Things are in fact changing very quickly and we are beginning to see more and more ways in which people are going to be able to actually spend the crypto which they have, without having to first change it into fiat. With this being said this is not happening on a grand scale and this is one of the biggest criticisms of this particular market. For as long as crypto is not able to actually be spent, many will simply believe it to be a currency of fantasy and imagination. In this particular instance people have a very good point of course, after all what good is a currency that you cannot actually spend it?
These are the main criticisms of crypto and whilst things could change, there are many who will need to see things changing drastically before they decide to accept it.