Lot of folks are looking at the crypto currencies from the lens of fiat, and like everything in life in this highly opinionated and emotionally charged world are either pro crypto or against crypto.
That's not how the things will work in long term. Both have their unique value proposition and will exist side-by-side.
Some of the main advantages of the cryptocurrency are
- limited supply, so they can hold the value
- All transactions are validated by a system
- Governed by a predefined system
- can be more inclusive, global and lower the transaction cost
- can increase the velocity of money in digital space
Disadvantage
- Not backed by any sovereign state/power
- Mostly based on consensus
- No one knows how it will unfold in long term
- Technology still evolving
- Not very liquid or widely accepted/traded
- Most of them widely concentrated in few hands/digital addresses
- limited uses cases
- success of an individual cryptocurrency/project can be driven by the quality of team
This is a first small note in this series, and many more to follow, looking for healthy, sensible and logical discussion from fellow steemian's.