David Gerard is a British writer and tech journalist best known for his sharp, no-nonsense takes on cryptocurrency. If you've ever wondered why some people are so critical of crypto, Gerard is one of the loudest voices in that camp ā and he doesnāt hold back.
---
š Who is David Gerard?
Author of the bestselling book āAttack of the 50 Foot Blockchainā (2017)
Followed it up with āLibra Shruggedā (2020), criticizing Facebookās failed crypto project
Regular contributor to tech blogs, podcasts, and media interviews
---
ā Why Heās Against Crypto
David Gerard believes that cryptocurrency is more hype than help ā and he has some strong reasons:
1. šø Scams & Fraud Everywhere
He warns that crypto is a playground for scammers. Rug pulls, fake coins, pump-and-dump schemes ā Gerard says these are not the exception, but the norm.
> "Crypto is not a revolution in finance ā it's a casino with no rules."
2. š§ No Real Use for Most People
He argues that crypto isn't being used as real money by the average person. Instead, it's mostly speculative investing, where people try to get rich quickly and often lose money.
3. š Blockchain Isnāt Magical
Gerard is highly skeptical of blockchain being used for everything. He says it's inefficient, slow, and often unnecessary for most business problems.
4. š Environmental Concerns
Heās also very vocal about how Bitcoin mining and other proof-of-work systems are harming the environment, using massive amounts of electricity.
---
āļø Is He Totally Wrong?
Not completely. Even some crypto supporters admit that:
ā Scams are a big issue
ā Regulations are still catching up
ā Some coins have no real value
But on the flip side:
š Crypto has created financial freedom for unbanked people
š Decentralized finance (DeFi) is growing
š New, eco-friendly crypto technologies like Proof-of-Stake are reducing energy waste
---
š¬ Gerardās Final Message? Donāt fall for the hype. Question everything. And most importantly ā if you donāt understand it, donāt invest in it.
---
š Key Takeaway:
David Gerard isnāt anti-technology ā heās anti-BS. His message is to be smart, cautious, and informed when dealing with crypto.
---
