{"id":2298,"date":"2017-03-26T14:00:54","date_gmt":"2017-03-26T18:00:54","guid":{"rendered":"https:\/\/howigrowmywealth.com\/?p=2298"},"modified":"2020-11-24T16:10:55","modified_gmt":"2020-11-24T20:10:55","slug":"what-i-dislike-about-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/howigrowmywealth.com\/what-i-dislike-about-cryptocurrencies\/","title":{"rendered":"What I Dislike About Cryptocurrencies"},"content":{"rendered":"
There is a lot I like<\/em> about cryptocurrencies. Many cryptocurrencies seek to make money decentralised and wrest control from the central banks that have a history of devaluation and abuse<\/a>.<\/p>\n But there are several things I dislike<\/em> about cryptocurrencies<\/a>. I see several problems with them as a long-term store of value<\/a>.<\/p>\n Bitcoin is the largest cryptocurrency but there are hundreds of others as well. If you’re not familiar with Bitcoin I provide some background here: “What is Bitcoin?<\/a>”<\/p>\n Cryptocurrencies are better than government controlled fiat. But I don’t accept that being better than the disaster that is government fiat currency is good enough and I’m not going to pretend like cryptocurrencies solve all the problems of government controlled fiat money.<\/p>\n I’ve presented what I think are superior alternatives such as Goldmoney.<\/p>\n I touched on what I don’t like about cryptocurrencies in my gold versus bitcoin<\/a> article but I wanted to dedicate an article solely to the elucidation of what I don’t like about cryptocurrencies.<\/p>\n My dislikes fall into three main categories.<\/p>\n 1) They are centrally controlled<\/p>\n 2) There are no natural limits on the quantity of cryptocurrencies<\/p>\n 3) Cryptocurrencies have very low (or no) non-monetary use<\/p>\n“What is a Cryptocurrency Anyway?”<\/h2>\n
What I Dislike About Cryptocurrencies<\/h2>\n
Cryptocurrencies are Centrally Controlled<\/h2>\n