The International Monetary Fund (IMF) has published an educational video, back in June 2018. This IMF video has claimed that the cryptocurrencies can be the next step in the evolution of money. The two-minute-long video shows both the advantages and disadvantages of the cryptocurrencies.
Despite being an old video, it has become quite popular on social media recently and people are highly impressed with it. On August 24, IMF shared this video on Twitter by writing “What are cryptocurrencies?”
— IMF (@IMFNews) August 23, 2020
Crypto user believes IMF video got many things wrong
There are more than 137,000 views and 2,900 likes on the video shared by the IMF. However, there are several crypto users and experts who are pointing out several things in the video from a critical perspective. They believe that the IMF video has got “so many things wrong”.
The crypto community points out that there is not any discussion regarding mining or coin supply. Pierre Rochard, Kraken Strategist has said “provable scarcity is what makes Bitcoin interesting, you forgot to mention that.” The IMF spokesperson has talked about various advantages that crypto is having over fiat currency. However, they did not forget to mention about the risk associated with crypto.
Videos focus more on the disadvantages
As people from the crypto community have responded differently to the IMF video, some have claimed that it focuses more on disadvantages. According to one Reddit user, the video has portrayed volatility as completely negative. A lot of people were quite critical about the video and said that the IMF has only talked about the history of crypto. Many of them were expecting to see more about Bitcoin in detail. Along with this, people were also looking for a detailed explanation of how crypto acts as a hedge against inflation. Despite all the criticism, the views and likes of this IMF video were quite impressive.