Warren Buffett, one of the richest men in the world, said in an analysis that "cryptocurrency is one of the worst temporary trends ever."
Bank of England Governor Andrew Bailey warned a few weeks ago that "if you are ready to lose all your money, buy it (cryptocurrency).
Paul Krugman and Robert Schiller are also among the critics of cryptocurrencies, but they do not now predict that these currencies will suddenly disappear one day.
In the last one year, the market value of the cryptocurrency has reached almost two trillion US dollars and the cryptocurrency market is expanding despite all restrictions and surveillance.
Corrupt currency is not controlled by any country, company or central bank. Following the principle of decentralization, buying and selling in cryptocurrency does not require a broker and is not verified by any institution.
The security of money transfer information is secretly monitored by a large network of computers, whose nodes are spread all over the world.
Millions of dollars are circulating in this system it is almost impossible for governments, central banks and regulators to monitor this process
To many critics, there are a number of people who are trying to promote a corrupt currency are convinced that their movement will not end.
They see the cryptocurrency not only as an opportunity for long-term profitable investment but also as a major change in the international financial system.
He believes that this market will shake the world of politics, economics and finance.
"At the moment we are at a crossroads," said Pastor, commercial director of the trading platform Butt to Me, speaking to BBC.
"Corrupt currencies are going just as the internet did," he added. They assure us that we are entering a new phase in the history of the evolution of wealth.
The innumerable notes that are being printed by the central banks will become worthless in a few years, he said. It will be the death of the old ways with the advent of new technology.
One of the most popular proponents of bitcoin and cryptocurrencies is Jack Dorsey, CEO of Twitter and Square.
Will be for our good," he wrote in a tweet. In another tweet, he said, "Why can't an organization or an individual stop or change this?"
Dorsey is so convinced of the cryptocurrency that in 2018 he predicted that his bitcoin would be the only currency in the world for the next 10 years.
And when in January the Financial Crime Control Network proposed a law that would require companies to disclose the names and addresses of individuals who have laundered more than 3,000. In a letter, Dorsey objected to the proposal.
The CEO of the world's largest cryptocurrency trading platform, in terms of volume of transactions. He had warned a few days ago that no institution is capable of destroying the bitcoin and its basic technology, the 'blockchain'.
"I don't think anyone can stop it now," he argued at the Coin Desk Consensus 2021 virtual conference. This technology, this concept, is imprinted in the minds of 50 million people.
Xiao added that governments and regulators should adopt blockchain technology and cryptocurrencies, and fighting them would be tantamount to rejecting Amazon's business model in the early 1990s.
Corrupt currencies are not meant to eliminate traditional finance or government-sponsored currencies, but more for 'financial freedom
You must be logged in to post a comment.