After the big drop in the price of bitcoin and many comments from people who live in this cryptocurrency as Brad Garlinghouse director of the company Ripple, developer of the cryptocurrency of the same name, who believes that most cryptocurrencies will lose all their value with time. Many people wonder whether or not to trust in cryptocurrencies and if they can really become the currencies of the future (not very far of course) we have to consider some things, for example, knowing that it is a cryptocurrency, and some advantages and disadvantages of cryptocurrencies and based on this draw our own conclusions.
CRYPTOCURRENCIES
Basically it is a digital means of exchange that incorporates the principles of cryptography and thus make a safe anonymous and decentralized economy. Easy and simple.
ADVANTAGES OF CRYPTOCURRENCY
ANONYMOUS: cryptocurrencies allow you to preserve your privacy when making transactions.
THEY ARE INTERNATIONAL: this means that they can be used in most countries of the world.
DECENTRALIZED: They are not controlled by any bank or any financial institution, although on December 3, 2017, the first cryptocurrency managed by a government (Venezuela) backed by Venezuelan gold, oil, gas and diamond reserves was created. Amazing? Could be…
SECURE: Breaking the security of a cryptocurrency is possible, but quantum computers would be needed to achieve it.
TRANSACTIONS WITHOUT INTERMEDIARIES: Directly from person to person.
DISADVANTAGES OF THE CRYPTOCURRENCIES
INTERNET: You need internet to access all this could be a disadvantage.
THE PRICE IS FIXED BY THE OFFER AND DEMAND LAW: this can cause increases in value but also large losses.
After knowing this, each person can draw their own conclusions on the subject, thank you very much