Blockchain: Trustworthy or a Scam?

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powered decentralization has the

potential to impact Society in a variety

of ways including around how much power

companies and governments have

blockchains are immutable the record

that's created cannot be changed by

anyone so whatever is put onto a

blockchain you can trust and rely its

accuracy that's pretty powerful in a

world of deep fakes in a world of the

exposure of corruption and graft all

over the world blockchains give us a

financial infrastructure that we can

deploy worldwide when certain crisis or

things break out sometimes it takes a

while to get that funding to people but

with newer Technologies we can find

entire regions and places more quickly

and overnight oftentimes when we give

our power away that power is actually

used against us with blockchain

technology it's all about giving the

power back to the user giving the

control back to the user when you go on

Instagram you are beholden to the

Instagrams algorithm of what they show

you how you discover new content and how

you engage with the platform itself and

I think that works for many reasons

moving forward however think

decentralization has a role to play in

creating systems where users can have

more control over their data over their

privacy and over how they interact with

any platform online one of the most

interesting things about

cryptocurrencies is they're Universal

there's no Bitcoin Central Authority and

so everybody can use it without having

to trust some particular government or

some particular Central Authority

there are good reasons for having

centralized entities for one they can

afford certain kinds of protections that

a decentralized entity can if there's

not the entity that's in control or the

entity that is there to protect you from

say frauds and scams like Banks can do

then consumers for instance are

vulnerable because there's no Central

authority to appeal to if you lose your

money it's final tax thefts are quite

scary when you're holding Bitcoin and

that's always going to be an issue it's

actually an issue with with anything in

life right with any physical property

Bitcoin itself is a is a hyped up fraud

so I think we're seeing lots of scams

and frauds for a variety of Reason one

is that it's really complex it's

difficult to understand what's going on

the government doesn't really have a

great grip on what's going on so you

have government confusion and therefore

lack of oversight you have frankly some

very intelligent people operating

cryptocurrency companies and you have

lots of people who want to make a lot of

money and lots of gullible people who

put all that into the mix you've got a

recipe for disaster my biggest worry

about the blockchain space is that we

need to protect users and ensure that

their security comes first I think it's

very clear that we need government

regulation we have seen the collapse of

big crypto firms we have seen all kinds

of problems people are going to get

their money stolen at the end of the day

you need the government to regulate to

sort of control the direction of Us in

January alone Bitcoin is heading to a

roughly 4 percent gain he always

volatile cryptocurrency Market took a

dive this week the reason there's so

much volatility in prices of crypto

assets is

we don't quite know what the future is

we don't know what regulation is going

to be we don't know all the uses it's

very early days nothing is guaranteed to

go up forever

and nothing is guaranteed that is going

to continue to go down Forever Until

really Bitcoin succeeds the price won't

start to stabilize it will still be very

volatile they eventually become approve

itself and the price will will become

more stable I believe it's valuable on

the condition that people value it it's

valuable on the condition that there are

enough people who will accept it as a

means of trade if no one wants to accept

it as a form of payment then no it

doesn't have any value currency isn't

the kind of thing that has value

independently of what people think about

it