Cryptocurrencies continue to be criticized due to the disasters in fixed coins.
In the last news I read, Christine Lagarde, President of the European Central Bank (ECB), said that cryptocurrencies are a trap that will harm people who are not tied to any fundamental asset.
“My personal assessment is that it has no value, is not based on anything, has no underlying assets to act as a security anchor,” Lagarde said.
Some other ECB officials are also expressing their concerns on this issue. ECB Board member Fabio Panettanisan said in the month that crypto assets "created a new Wild West" and paralleled the subprime mortgage crisis of 2008.
I don't know how many more earthquakes Bitcoin and Cryptocurrencies will experience in the face of the common thoughts of the President of the European Central Bank and its members, but I have hope. Yes, what happened in Luna is not normal at all, many people have been hurt and I'm sure the effects continue. My belief is that if the deficiencies in the system can be eliminated and a decentralized system can still be maintained, the criticisms can lead cryptocurrencies to a better place.
