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Are Bitcoin and Similar Cryptocurrencies Good for the World?
Cryptocurrencies, such as Bitcoin and others, are beneficial for the world.
Digital currencies allow financial innovation among communities that otherwise do not have strong access to capital, potentially increasing prosperity.
Cash is a necessary part of any functional society's economic model and cryptocurrencies are an easier and online-ready form of cash. They are the natural progression of what money is becoming in the digital age.
Cryptocurrencies and the technologies built on top of them open doors for technological innovation.
A cryptocurrency is harder to counterfeit than cash.
The strength in digital currency lies in its universal character. Every person can use it in every country. It unites the world economically.
Cryptocurrencies would make banking more accessible.
Cryptocurrencies enhance privacy for market transactions.
Handling and storing cryptocurrencies is less safe for ordinary consumers than simply using cash.
Most ordinary citizens would not use such a currency anyway, rendering all potential benefits mute.
Cryptocurrencies enable or encourage illegal activities.
Handling and storing cryptocurrencies is less safe for ordinary consumers than traditional forms of electronic payment.
Cryptocurrency mining is a waste of resources.
Currencies not backed by governments are harmful.
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