Although the cryptocurrency is convenient, it is easy to encounter hackers... Although the traditional currency is inconvenient, it is difficult to encounter fraud....
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Although the cryptocurrency is convenient, it is easy to encounter hackers... Although the traditional currency is inconvenient, it is difficult to encounter fraud....
When you say "Although the traditional currency is inconvenient, it is difficult to encounter fraud..." I am not sure what you mean. Our prisons are filled with thieves of all stripes. Cash brings out all sorts of scams and mayhem. Not to mention it is the tool of trade for drug dealers. While there have been some epic hacks of crypto currencies, I am not worried because a general in Nigeria has six million dollars in gold and he just needs my banking information so he can transfer it to me and I get to keep half. I just got his email today. (Just a joke friend, but you get my point.)
Over the past decades or more, QE has resulted in the printing of trillions of dollars, euros, and yen – out of thin air! Which simply means that all the money in our wallets or bank accounts are devalued, more and more and more.
That sounds like fraud to me.
As for that Nigerian gold, I too am expecting half, any day now. :-) (That makes 3 halves, but I trust the general will somehow work it out.)
I am not sure I totally agree with your thoughts, @cloudblade. In my understanding, cryptocurrency, empowered by the distributed architecture of the blockchain, proves to be one of the most resilient systems we have ever come across.
If I perceived your comment incorrectly, please do elaborate.