Why do people want alternative currency

[Khezo]

Joseph Stiglitz, Nobel Laureate in Economics in 2001 and former Chief Economist of the World Bank has repeatedly explained why he believes that bitcoin should be banned.

"The real reason why people want an alternative currency is to participate in vile activities"
"What we really should do," he said, "is to demand the same transparency in financial transactions with bitcoins that we have with banks." If this were to be done, he believes, the bitcoin market "would simply collapse."

Do you agree or disagree and why? Thank you

 

[Syldan]

Strong financial gains have spurred marketing and interest in the trend. Cryptocurrencies are going to allow currencies to expand beyond simply a transfer of wealth and a store of value, and actually add a 3rd dimension to money, an expression of who you are.

 

[Georgeadawara]

The reason why must people are going for the alternative currency because ant can happen as the time gose on an alternative currency mustly are or can be used in other countries crypto is the only currency that can be taken form any country so using crypto currency are very important to use and having very easy ways of investing.

 

[Kingsley]

People prefer to have alternative currencies due to the fact that those other currencies might appreciate or have more intrinsic value or more purchasing power as compared to their local currency. And there are higher chances for it to appreciate more than their local currency thereby creating more opportunity for them to make more profit aswel.

 

[Daykas]

Main reason behind this is that fiat currencies usually varies most times and it tend not be bringing any profit like crpytocurrency

 

[Haypril]

I strongly agreed with the economist you have quoted. He is right with every word in used. I have posted and commented on the use of this so called digital currencies as a disguise to loots, and carry out all sort of atrocities all in the name of advanced in technology. Hiding between an untraceable wallet address buying hard drugs and dealing in human trafficking.

 

[Godsplan]

Well, l would say the economist is right in some way but not completely. Those economist quoted above only took their analysis based on only the disadvantages of these alternative currencies without considering the advantages associated with the use of them. They should have known that in this world everything has both advantages and disadvantages so you have to always state both of them whenever you are making the analysis.

 

[Adetayo100]

People want alternatives currency because it is decentralized as in it is not controlled by any government of any nation or individuals. And with it trading will be more easier. With crypto currencies as the ne new money, people can actually transact easily and it is been accepted as form of payment in major stores like Amazon and the likes.

 

[Kabak95]

Unfortunately, the technological and ideological strides of cryptocurrency are often overshadowed by the soaring and collapsing prices. Many people don’t really care that it’s decentralized, they just want to buy some cryptocurrency to make a quick bucks.

 

[Prettybabe]

That people use cryptocurrency for shady businesses is not enough reason why it should be banned. People also do a whole lot of shady things using fiat currency and I have not seen the government talking about banning it.

Anyway, point is that cryptocurrency mean different things for different people and the fact that you don't understand it, is not enough reason to ask for it's ban