“Is Cryptocurrency a Fad or for the Future?” Anndy Lian Shares with Wealth Secrets Community

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Anndy Lian shares his views on “Is Cryptocurrency a Fad or for the Future?”. The event was held on 16 September 2020, 1 pm GMT on Podbean and Spotify.

Some topics are:

– Can you brief us about cryptocurrency? Is it different from BlockChain Technology?
– Is any digital currency a cryptocurrency? What are stable coins?
– Who are the major players of the crypto market?
– Why the hype about cryptocurrency? Is it worth it?
– Bitcoin went from being worthless in 2008 to $1,000 in the span of three years, before dropping to a low of $250 in just a few months, then rising meteorically to nearly $20,000 in 2017, and plunging to historic depths yet again just a few months later. With such volatility, is it really a safe haven as they say? Compared to gold?
– What are the major factors hindering the mass adoption of cryptocurrencies? How long do you think it’s going to take for cryptocurrency to be accepted in the mainstream?
– Looking at the cryptocurrency timelines (From Nakamoto, The world’s largest Bitcoin exchange, Mt.Gox, went offline declaring bankruptcy. Theft and scam concerns emerged. And recent scam activities associated, do you think cryptocurrency over fiat currencies is safe?
– How is cryptocurrency solving the problems associated with fiat?
With the government of different countries having different attitudes towards considering cryptocurrency as a legal tender, people unaware of its mechanism consider it to be a risky investment. What could be the next major milestones for cryptocurrencies?
– Should crypto be taxed? What are some regulations that you think may not favour cryptocurrencies going forward? How can the government and policymakers help preserve and stabilize the crypto community?