[dtube] Can Cryptocurrencies Remain Ethical in the Long Run?
Agere asks "Considering the ethical issues some have with XRP, do you think that crypto can remain 'ethical' in the long run? With so many big players wanting a piece of the pie it got me thinking, 'what's stopping big investors from owning a small fortune of one crypto and have a large influence in its performance?', for example".
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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Do you consider the dollar ethical ?
As far a I know the majority of all drugs, weapons and other illicit products are traded in dollars, not cryptocurrencies.
Most technology is neutral, it are the people behind it that do good or bad with it.
Cryptocurrencies are also neutral, it can be used to fund building schools in Africa without the use of Banks that take a huge fee and it can also be used for buying drugs without leaving to much trail.
GREAT point!
When we ll have mass adoption of the cryptos it willbe difficult for anyone to manipulate cryptos.Until then powerful men and companies can still control the game.Decentralization is a MUST in order to avoid manipulation
But i am afraid that 95% of people are still "sleeping"
Agreed!
Everyone is being played. You know how easy it is to put out fake news articles by mainstream media? Once it’s out, so it’s work they say it was a mistake, apologize and forget it. Just like you guys mentioned, fake news has been used to alter perceptions and mess with elections. Obviously, it’s not always a wining strategy, but short therm it works. Crypto is no different. Dropping false news reports to mess with peoples mind and at the same time with prices.
Earlier this week, my attention was brought to a post where they compared the profit Binance made compared to a bank (I really can't remember the name of the bank).
Now, we humans. Let's imagine you have a business and you have a rival as well and your rival seems to be doing well more than you.
If you are honest, you would be very desperate to get back in business and superceede your rival even if it means you doing unethical things.
Its the same thing everywhere.
Crypto market CANNOT be on the rise for too long lest it would attract serious attention to it (probably the eye of the government) and we know what that means (a lot of them might not support it).
So to regulate the market, it has to go through high and lows. So people can buy and it wouldn't get too much attention.
So to me, its normal.
There's no stopping of blockchain technology.
There's no stopping of cryptocurrency.
Its the future and surely, no matter the hurdles or obstacles, we would surely get there.
Wow! Your interviews are really videos to look forward to.
I quite agree with you my friend. if you observed, it wasn't just the traders that manipulated the price of crypto (bitcoin especially), even media attacks too, and some big investors, I believe were paid to alter the entire system.
But then, people still had courage to still buy even when the prices were down without hope of increase anytime soon.
Even with the negative reviews, policies and challenges surrounding it, businesses that involved crypto didn't pack up entirely.
So, even in the next wave/storm, a lot of ship would still be sailing.
In my opinion, If we truly want to see cryptocurrency go mainstream regulations are what it is going to take. Big guys want to invest but they need to be certain of their protection
Once again good to hear from you. As I mentioned in the afternoon comment, I am positive that this fight will go to the good guys.
But let us not slack because of it and remain vigilant about our community. Talk to each other, share opportunities and keep an eye out for the fellow enthusiasts of the blockchain :-)
Lack of regulation is what is stopping big investors, too much money is simply tied up in markets which is making it impossible for it to grow into cryptocurrencies. Those with billions of dollars have their hands tied and unable to enter crypto markets without the regulations.
Misinformation and bad campaigns against the cryptos affects, makes investors change their minds because they think it is a scam or it is an illegal act to buy cryptos since they are a fund which no one controls or monitors, if we had better information everything would be great.
If cryptocurrencies are used by humans they will always have ethical problems, only certain rules and incentives can be created to try to make them the most beneficial for people.
Even if we change from fiat to crypto or another currency, our human nature will continue there, we can't deny it.