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Cryptocurrency Development in Malaysia

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Avatar for dconan85
Written by   3
1 year ago

When talk about crypto currency in Malaysia, you will encounter few type of responses from the audiences.

 The first typical one will be those Uncle& Auntie type. I call them uncle & Auntie not because I have discrimination on their age but is their mentality are lagged behind or they did not follow the latest technology/ trend of the world. Perhaps it is because they are too comfortable with their current living or they are being trained to be follow the majority is the safe.

As what we being taught by our education system, we are trained to be worker, employee, follower. We have been taught to follow the majority so that we are  not “different” in the eye of the public .Therefore, when most of the people are still using FIAT money in their life, why  would you  like to bother about the crypto currency? This category of people will only realize that the world has changed when the crypto currency is fully used by majority of the person. Try think  about when the first handphone was innovated by Iphone  10 years back .The phon is keypad-less. I still remember my friend is laughing that what will happen if you are in the emergency and you have forgotten you password to unlock your keypad-less phone. And the screen is not sensitive and the OS is always hangs .They are not wrong  at the moment they give their comment , but they did not acknowledged that technology will improve .If the direction is to use keypad-less handphone in the future, the technology will solve the issue .They have failed to foresee.

 The second type of people , I call them Ah Beng type. Ah Beng are those people who did not know about anything about the crypto and they just comment it as EVIL thing. They will link crypto currency to  the SCAM such as  JJPTR(multilayer marketing scam) .When the Crypto was first introduced, they are a lot of scammer trying to claim that they are also having a project in Crypto currency, where the crypto can use to buy their companies’ product and the crypto will appreciate in value if many people started t accept it . In fact , Ah Beng never know about the base technology of crypto currencies which is blockchain. Futhermore , at that period of time ,there are a lot of bad news regarding to Bit coin such as  what was happned to Mt. Gox  . (Mt Gox had announced that approximately 850,000 bitcoins belonging to customers and the company were missing and likely stolen, an amount valued at more than $450 million at the time) .This has further mislead the Ah Beng group that crypto is a scam .

 

Third type of people are those smart ,powerful and rich people,such as FED of US government and the governments of the world. They have the power to do QE , to print more fiat money which they claimed to provide liquidity to the market , to save the economy. Due to their personal interest , they will not support the crypto currency development. In fact they are trying to do their CEFI thing which is to avoid being replaced by the DEFI . They accuse that Bitcoin and other Atcoin are fake , illegal money due to crypto currency is trying to challenge their authority (Crypto are Decentralized ).ie , you can see the world largest cryptocurrency platform BINANCE had move out from China because it challenge the authority of China Government.

Of Course there are still many others opinion on Crypto Currency .Feel free to tell me about your opinion and view ?

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Avatar for dconan85
Written by   3
1 year ago
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