As an economist, I worry about a lot of issues related to economies in this world.
Bitcoin is surely a revolution, but I worry that it is highly unfair for the older generations and the people who join Bitcoin in later periods.
Most people in the world do not hold Bitcoin or any other cryptocurrency. If they started buying it, prices would soar and there would be a huge purchasing power transfer from those who got later in to those who got in earlier. For these people, staying in Fiat currency will be the best option.
Also, there is the issue of scalability and of the timeframe of existance of Bitcoin.
Isn't it better to jump try an ICO? And following this reasoning why invest in an ICO now when something better may come later?
I think many of the discussions about cryptocurrencies leave out those of our society who have less access to information and new technologies.
What do you think?
Thank you.
Well to start with,i read an interesting statistic saying that of all icos in history 81% are scams, 8% have managed to get their coins listed on an exchange and the rest disappeared after sometime. I am not sure where exactly I read it, but i did read it. Comparing the statistic with bitcoin, bitcoin's dev aka Satoshi has never scammed anyone.
If you really worry about economies and their issues, bitcoin isn't the problem. Get them food first worry about bitcoin later.
For people who are not familiar with bitcoin, it would be much better if they stick to stocks cause they don't have to worry much when compared to the complications crypto has.
I am a big fan of new technologies but with so many scams going around, you really don't know what's scam and what's legit. Because nor every scam nowadays is too good to be true. They seem legit until....