16-05-2022

Crypto is latest form of our currency which is giving independence , ownership and use case beyond the limits and borders. It is faster , cheaper and easier way to transit from fingertips to any destination in the world.

Still it has lot of set back where mostly comes fault from user side not Crypto itself. Because lake of knowledge , system , flow and Blockchain makes difficult things further for users. If we look at Crypto part , yes there are some tragic part also which we can't ignore or eliminate.

Highly Risky.

Crypto itself never risky but yes usage , trade and investment are always higher Risky then physical business. Lack of knowledge in system flow and Blockchain integration made it more uncontrollable to us.

The recent story of LUNA & UST proves it further where lot of painful stories around the world can witness. I read that one Nigerian person sold his car , invest in LUNA and finished everything. We can't ignore the elements of risk but yes try to avoid by precautions. Crypto experts always says " invest only that which can you bear in lose".

Unpredictable.

Crypto always has no permanent season or schedule to work with. It can be on moon in a hour or puts you in grave within next hour. Ups & downs for experts , whales , Crypto benchers is nothing because when people starts crying over loose , they dance on dip.

The lose always comes in part of 95% users who have limited investment. Other 5% gain always in dip or pump. Actually they play with emotions and steps of common man. They know what exactly they are doing while common man always flow with flood.

Centralised & decentralised Smart contracts and block chain technology.

It is difficult for any ordinary person to understand the algorithm of these Blockchain technology. Which makes main reason to loose their assets. From Ethereum to Smart chain or vice versa , cross chain transactions without proper bridging , unverified exchanges are main sources to lose in Crypto.

Even now some invitation has been comes into existence where wrong transaction can be recovered ( few cases only) otherwise once wrong transaction done , no any chance to get back your asset.

Fear of clonk.

Any thing can happen in any time in crypto. Billionaire can turn into begger and begger will be king no one knows. Any clonk can happen and the fear on uncertainty and clonk is a big threat or set back to Crypto.

I was in bank today and the manager was asking me what happened your BCH? ( Actually I had two , three debates with him that SBP should legalise Crypto in Pakistan). He said , if govt invest in project like LUNA what will be results and who bears the lose. So a fear of clonk existed in minds of govt. Officials about crypto.

Scamming.

Crypto becoming the easiest & fastest way to earn money by scamming. Because it has no physical setup nor anyone gets responsibility. No any challenging authority to complain nor any compensation possible.

Any one can generate its own token , smart contact , Media campaign , financial hub to sell and that is it. The glamour of social media , high reward promise , paid social media marketing ease their work. I can't say stupid people but I will use innocent people comes into their net easily. Some individuals early engaged gets some profit but remains gets nothing in Ponzi schemes.

Slavenes & Mental capacity.

Crypto uncertainty made people mentally slaves. Especially those who involves in Spot trading. I witnessed a person who has some investment in a project. Even he woke up in midnight the very first thing he do to go his portfolio.

Crypto gained more focus and mental attention so people has less time for relationships. They are going far from relatives and other fundamental things. Crypto absorption our health and fitness.

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