Forbes attacking cryptocurrencies. How much misinformation could these people share?
I am writing this article as a response to the article We Need To Shut Bitcoin And All Other Cryptocurrencies Down. Here's Why. shared on forbes. I will not hide it, this is an attack to the article itself and the whole website with it.
I will skip mentioning (or no?) the cheap aspect of their website which looks like facing a calamity of ads where less than 1/3 of the interface is the actual articles and the rest of it is just pollution. You know what, I hope their site dies under the weight of these ads. That's it, I've said it. It is so repulsing for readers to come to a site that is less 1/3 content and the rest of it just ads. How much to disrespect yourself as a site owner to let that many ads there? And how much to disrespect yourself to write there? You start to gain a little bit of the greed that these people have.
I have come into contact with this article reading its title on my phone when opening a new tab of Google Chrome, with this title written with large characters.
We Need To Shut Bitcoin And All Other Cryptocurrencies Down. Here's Why.
The attached image was the cover photo of the article and it represents a gold mine. Impressive right?
The author of the article believes that the reason why Bitcoin And All Other Cryptocurrencies should be shot down is because for some of them, there are viruses that use the computers of infested computers to mine for them.
Upon deeper reflection, the implications of illicit cryptomining are profoundly frightening.
...
In my opinion, however, prevention and mitigation technologies will never work well enough. There’s only one way to slay this beast. We must make all cryptocurrency as we know it today illegal.
I have only one thing to say reading this bullshit:
Are you stupid???
His words reveal only one thing
)
He has reflected deep... But did he ever heard that there are a lot of cryptocurrencies that are not even based on PoW algorithms for which people simply can't mine? And there are a lot of them, this is the third generation of cryptocurrencies for which nobody needs to spend useless energy to make and to sustain the blockchain which is a great invention by the way!
Just head to coinmarketcap and you will see a list of cryptocurrencies ordered by default by market cap. And just to make life easier for people like Jason Bloomberg, I will share some important and secret information. You can see which of these cryptocurrencies can be mined just by scrolling to that list. Lt's take the example of NEO - all random, I promise!
Do you see the little asterisk ( * ) at the end of NEO total number of coins? Well if you scroll to the bottom of the website you will find out an information that will change your vision about cryptocurrencies forever:
* Not Mineable
Wow so there are a lot of them which can't be mined... And more to come, because PoW coins are going to PoS because it is simply better. Ethereum is trying to achieve that with its next hard fork for example. A lot of cryptocurrencies are designed to scale better than the old PoW ones, with respect to the environment as ADA is. Some of them are based on tangle as IOTA which can infinitely scale. Right now, the most transactions from all of the cryptocurrencies are made on the Steem blockchain, who would have thought? Not mister ignorant Jason Bloomberg, for sure!
This guy has a few more things with which he attacks cryptocurrencies, of course based on nothing than his thoughts and the try to spread FUD.
Tax evasion. Money laundering. Funding terrorism or other illegal activity not directly related to cryptocurrency. But the most nefarious of all criminal motivations: illicit cryptomining.
I have just a question you you sir, regarding all of these concepts, except cryptomining:
Aren't all of these, concepts much older than cryptocurrencies?
It's not like Tax evasion. Money laundering. Funding terrorism were all eradicated activities that now have came back to life because of the cryptocurrencies. They were much older and improved with time, and now they are barely touching this new field and you want to ban it entirely.
Art was (is) used for money laundering by much overestimated pieces of art that are traded back and forth. Should we ban art collections and art traders too?
I'll just close this with an image of an abstract painting by Jackson Pollock that has been sold for $135 millions
thanks for calling them out, alot of journalists thinking they know when they only know the tip of the iceburg.
Thanks for your comment! Indeed, it seemed that Jason Bloomberg has almost no idea about how cryptocurrencies work, but I am also tempted to think that he actually knows how they work, but he is just trying to spread FUD and scare investors.
You are making the mistake of taking these "reasons" or "arguments" at face value. Don't bother. Forbes, Goldman Sachs, all the big banks, and most of the rest of the establishment financial sector is going to do everything in its power to make sure that cryptos fail. They have been propping up the petro dollar with singleminded intensity for a long time. Everything they have depends on the USD's value and cryptos directly threaten that. Why do you think crypto value is steadily dropping right now even though more and more people are using and buying and mining it? Why do you think Steem value is steadily dropping even though Steemit gets new famous people from independent news, sports and other fields opening blogs daily? Why do you think GS seized the Poloniex exchange? Why do you think all this talk of financial regulation of cryptos even as Congress vigorously deregulates practically every other facet of the financial sector? Wake up. The currency war is just kicking off and it is far from over.
these articles are one of the things that give cryptocurrencies (especially steemit) a bad face to my friends, I've been trying to let them hop on to steemit but this bs just keeps on spreading. I know some cryptos are scams but those that are tried and tested are getting mixed up with the bad ones. :(
Indeed, there are a lot of problems that we need to solve in order to improve the quality of this platform. Thanks for your comment!
Mahatma Gandhi has a very nice quote: ”First they ignore you, then they laugh at you, then they fight you, then you win. Mahatma Gandhi”.
Christine Lagarde's recent statements and this article are only proof we are moving forward towards winning.
As a side note, I really hope we won't need to leave Romania on basese of making crypto illegal.
If crypto will be declared illegal, I will move to another country, that's it. Otherwise we will create a country for cryptos. A little one, but it will be enough :))
Anyway, if cryptocurrencies and blockchain succeeds, they will change the world!
It already did, we have a fully functional, open, transparent, global, nondiscriminatory, trustless, parallel financial system. Who would have thought :)?
I'm sure they got payed heavily to make this FUD. All new tech face these kind of resistance.
Brave browser is great for ad blocking BTW. Brave is also attached to another project called Basic Attention Token.
Kudos to you with this article ;) cant believe they(forbes) published this crap to shut down crypto.
Thank you! I got really triggered when I've read it too.
I love Jackson Pollock's work...
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