When Critics See Problems In Crypto, Why Don't They See It In Fiat Currency?

Some popular figures come out and start criticizing crypto. According to Tim Berners-Lee, the inventor of the World Wide Web (WWW), investing in cryptocurrency is similar to gambling, and crypto itself is dangerous. He noticed the similarities between the Dot-com bubble and the current status of cryptocurrency.

Cryptocurrency can be useful for making transactions, but it is better to convert that into fiat currency instantly. Charlie Munger went one step further to show his stance considering crypto as a serious threat to economic stability.

If you are into gambling, you can gamble with anything. Whether it is crypto or something else does not matter. If you throw money into the stock market and gamble, will you blame the stock market for that?

There are scams in crypto like every other sector. It is up to you how you manage your risk and make investments. Most cryptocurrencies will not thrive and survive in the long run. People know that when they get into cryptocurrency. They do their research and analysis before making any financial decision to invest in crypto.

Is fiat currency a safe heaven? I do not see those people talking about the problem of fiat currency. Fiat currency has a store of value, that's what you keep hearing. You save fiat currency and are happy to see the amount growing.

But have you ever thought of how much you are losing in fiat currency? The crypto market is highly volatile and those crypto critics point out the volatility aspects to instill fear into people's minds.

You lose purchasing power every single day holding fiat currency. You see the figure in fiat currency does not change, but you are not able to buy the same product with the same amount of fiat currency that you bought last year.

So what happened? Who stole your money? The central bank can always print more fiat currency which will dilute the value of your holding in fiat currency. You cannot catch the thief because that's the system.

When those popular crypto critics go hard on crypto and say how dangerous cryptocurrencies are, why don't they point their fingers at fiat currency as well? They will say what best serve them, I guess.

Bitcoin was dead thousands of times in the past. But Bitcoin is still there and will be there in the future. Fiat currency supply is unlimited, but Bitcoin supply is limited. There will be no more than 21 million Bitcoin in the supply.

It is up to you how you manage your finances and make your decisions to improve your financial situation to have a better future. So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.

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