[sgbuffett]

1. It is not a "store of value". It is too unstable and volatile. How can it be use as a store of value when it can plunge 20% in one day. Unlike gold and silver it does not rpotect against inflation going down instead of up when there was inflation.

2. If is hopeless when used for buying and selling. The transaction cost is high and it is slow taking hours to clear.

3. It is useless even for criminals to launder money. Because everything is record on Blockchain and can be traced

4. It is excellent for gambling and speculation as the price moves a lot and you can borrow easily to leverage. 99% of Bitcoin activity is trading.

5.  Strangely only some countries can cut through the noise and ban cryptos because they can see it as a big casinos out to cheat the citizen's money. So they banned it.

6. Singapore authorities did not ban it. And what happened? Singaporeans lost their money in cryto scams ...and crypto gambling. Nothing beneficial came out of it.

If the harm greatly outweigh the benefit, it should be banned. I'm fact there has been no benefit from these cryptos only widespread losses.

The Singapore govt should have had the wisdom and courage to ban it. It would have saved many Singaporeans from harm.

[sgbuffett]

https://www.euronews.com/next/2022/04/27...r-illegal2

[winbig]

1. It is not a "store of value". It is too unstable and volatile. How can it be use as a store of value when it can plunge 20% in one day. Unlike gold and silver it does not rpotect against inflation going down instead of up when there was inflation.

2. If is hopeless when used for buying and selling. The transaction cost is high and it is slow taking hours to clear.

3. It is useless even for criminals to launder money. Because everything is record on Blockchain and can be traced

4. It is excellent for gambling and speculation as the price moves a lot and you can borrow easily to leverage. 99% of Bitcoin activity is trading.

5.  Strangely only some countries can cut through the noise and ban cryptos because they can see it as a big casinos out to cheat the citizen's money. So they banned it.

6. Singapore authorities did not ban it. And what happened? Singaporeans lost their money in cryto scams ...and crypto gambling. Nothing beneficial came out of it.

If the harm greatly outweigh the benefit, it should be banned. I'm fact there has been no benefit from these cryptos only widespread losses.

The Singapore govt should have had the wisdom and courage to ban it. It would have saved many Singaporeans from harm.

Shares also have up and down of more than 20% in a day. Nothing new wat.

[victortan]

BTC is digital gold. It can be store safety and it cannot be manipulated, there is only 17m of them,

Govt cannot control so they ban it, Gold is lousy investment, i bgt maple leaf 1oz coin in 1980 at 721$ today it is 2500$ 40yrs 250% gain,, puiiiiiiiii.... shd have invest in Amzn or GOOG. lucky i sold all and bgt into btc in 2017 at ave px of 8K. even today deep correction i am still up3X.... more coming, and noit counting eth which is 65% of the holding in my wallet.

[victortan]

1. It is not a "store of value". It is too unstable and volatile. How can it be use as a store of value when it can plunge 20% in one day. Unlike gold and silver it does not rpotect against inflation going down instead of up when there was inflation.

2. If is hopeless when used for buying and selling. The transaction cost is high and it is slow taking hours to clear.

3. It is useless even for criminals to launder money. Because everything is record on Blockchain and can be traced

4. It is excellent for gambling and speculation as the price moves a lot and you can borrow easily to leverage. 99% of Bitcoin activity is trading.

5.  Strangely only some countries can cut through the noise and ban cryptos because they can see it as a big casinos out to cheat the citizen's money. So they banned it.

6. Singapore authorities did not ban it. And what happened? Singaporeans lost their money in cryto scams ...and crypto gambling. Nothing beneficial came out of it.

If the harm greatly outweigh the benefit, it should be banned. I'm fact there has been no benefit from these cryptos only widespread losses.

The Singapore govt should have had the wisdom and courage to ban it. It would have saved many Singaporeans from harm.

Stock mkt also scam . I lost lot of money to s cheat, what say u??? why6 govt allow those scheat to cheat us???
why govt not ban because they know this is internet 3.0.

[RiseofAsia]

Stock mkt also scam . I lost lot of money to s cheat, what say u??? why6 govt allow those scheat to cheat us???
why govt not ban because they know this is internet 3.0.

Not internet 3 is web 3.0.
It can be a scam. As the law to govern it is still not fully in place. This may be the future world. (Covid virus spreading brings us to this stage). Just like if the investment is not in the MAS listing. Better avoid them. If collapse, you get back nothing.

Till now, I still cant imagine we will be working in the VR world. Only eating and shitting will be in the physical world.
Do you want this to happen?

[sgbuffett]

Shares also have up and down of more than 20% in a day. Nothing new wat.

Hi shares and stock .market is essential part of economy as it is a means of raisng funds for companies to grow. Because it Apple or Microsoft, a public listing enabled them to raise funds grow and employ thosuands....all this is possible only because stocks a d stock exchange exists.

[Odessy]

Think the USD holdings can be frozen as applied onto Russia 3 months back 

How about crypto? Can crypto be frozen by those in power?

If crypto can be sanctioned then it will lose its weightage, but if it cannot be sanctioned then it can be of use

[winbig]

Hi shares and stock .market is essential part of economy as it is a means of raisng funds for companies to grow. Because it Apple or Microsoft, a public listing enabled them to raise funds grow and employ thosuands....all this is possible only because stocks a d stock exchange exists.

Before there's share and stock market they are not part of the economy. It evolved to be part of the economy. Same for crypto. U need to have an open mind

[Cmpunk]

Whatever everyone said all are gambling there always up and down.

[Cmpunk]

But for sure bitcoin will not go up to 50k anytime soon

[sgbuffett]

But for sure bitcoin will not go up to 50k anytime soon

It is a non productive asset with no return so what stops it from going lower to $5K or $500. It is all hot air!

If a stock goes down, the company has assets and pays dividends that puts a floor in....that is investing. Yes some will lose money because they treat stock market like casino
In actual fact it is not as there are slestablished ways to invest value a company and manage risks.