In her Sept. 19 op-ed, “Crypto has hope — and a long way to go,” Megan McArdle shed an ambiguous mild on the way forward for cryptocurrency, highlighting prospects and breakthroughs, reminiscent of ethereum’s new energy-efficient mining methodology, whereas acknowledging the challenges that it faces. Although I agree with Ms. McArdle’s opinion that cryptocurrencies have a lot bigger issues than the environmental issues, Ms. McArdle didn’t stress the most important impediment of cryptocurrency: adoption by nationwide governments for the quicker, simpler and safer transactions it guarantees.
Governments would possibly see “unregulated” cryptocurrency as competitors to their nationwide currencies as a result of crypto bypasses conventional financial insurance policies. Due to this fact most, if not all, of the 1000’s of current cryptocurrencies will probably section out.
Ms. McArdle identified that cryptocurrency has survived for 14 years, which is “far longer than your typical Ponzi scheme.” Nonetheless, she failed to acknowledge that for these 14 years, cryptocurrency has failed to unravel any of the issues it proclaimed to unravel. Cryptocurrency remains to be, because it was years in the past, a fruitless hope.
Sungjoon Kim, Falls Church