Cryptos’ Great Advantages from https://dailyreckoning.com/5-must-see-predictions/ by James Altucher
He states:
"They’re easily transportable, have zero transaction fees, there’s no human intervention between payer and payee and they offer anonymity.
Money evolves like anything else and the natural evolution of money is always as a store of value that is easier to move, more secure and more private.
How can you transact across a large geographic area with fewer fees, fewer costs, less chance for human error, higher security and privacy?
Cryptocurrencies. They’re the natural evolution of money. The evolution of money and the evolution of every industry strongly imply that cryptocurrencies will be in our future.
Now, it’s true that uncertainty breeds volatility. Cryptocurrencies have been and are going to be volatile for a while.
But why does volatility create opportunity?
Because it’s rare that intrinsic value changes much day to day. If you can identify the cryptocurrencies that are legitimate (have strong intrinsic value), then you can make a lot of money playing off the volatile situation in crypto." From an article by James Altucher on the web site Daily Reckoning.
I read this article by Mr. Altucher and I was surprised that he did not mention any disadvantages.
So I thought as a novice crypt holder I would mention a few disadvantages I see.
Indeed money does evolve, yet he failed to mention that every FIAT currency ever created has collapsed to zero.
He says in the first line there are no fees. Really, did he mean no banking fees? Surely he see the fees paid for "gas" to send crypto.
In many cases he is correct, easily transportable. you only need to have a good memory in reality. As if you buried your gold 200 years ago and had to remember where you put it.
He states cryptocurrencies are the natural evolution of money. How he gets to this conclusion I will never know.
He states you need to identify legitimate crypto, that sounds more like a flawed currency than a store of value.
He brings up volatility as creating opportunity. I would bet most people are more interested when they go to the store and their crypto has lost 50% of its value from the day before. Um, seems you better change your dinner plans.
He fails to mention the complete and utter lack of public interest at large and the interest of the wealth to move millions in a fraction of time to current systems. Does that really help the average person just getting by.
I don't mean to be mean, as I am a novice and these are just my opinions but the GREATEST DISADVANTAGE of Crypto is you cannot hold it in your hand. So you really do not know if it is actually where you think it is. Unlike the sliver coin below. Um.
