There are ten compelling reasons why I can't yer bring myself to invest in cryptocurrencies despite all the compelling reasons for getting out of the dollar.

Reason 1-- I've already touched on the "investment" angle. Dollars used to buy a cryptocurrency is not only an investment, but a speculative one that looks too much like a gamble.

Reason 2-- There are well over 700 cryptocurrencies, which is bewildering enough, but it's likely that even more of them will be coming on the market to test the waters. At this point Bitcoin is leading the pack, but if superior products come on the market, Bitcoin could become an also ran. At this point there's too much congestion...too many horses on the track to make a bet.

Reason 3-- I think we may see more concerted attempts by the Federal Reserve, Treasury Department to destroy or to regulate cryptocurrencies. It's obvious that the Fed and Treasury are quick to sic the SEC pit bulls on to any medium that offers exchange opportunities outside the dollar. The government is always hostile to anything of which it can't tax or become a silent, controlling party. And I'm sure everyone has heard rumors that the Fed would like it's own cryptocurrency.

Reason 4-- It's still early in the cryptocurrency era. The term was coined less than twenty years ago, and the field is in such a developmental frenzy that it may take another ten years for the start-ups and upstarts to settle down into a consolidated industry.

Reason 5-- The sheer number of cryptocurrencies makes it unlikely that most of them will enjoy commercial use or success. Merchants aren't going to want to process transactions involving 700 different currencies.

Reason 6-- Just as Diner's Club sparked the debit and dredit card explosion years ago, Bitcoin has done the same for cryptocurrency platforms. Today American Express, Mastercard, and Visa dominate the credit card industry, and in the years to come I expect hundreds of cryptocurrencies to consolidate into three major players... which are yet to be determined by elimination or merger.

Reason 7--The cryptocurrency process is too confusing, and it will not flourish until it's as easy for people to buy cryptocurrencies and to use them in personal (and corporate) business as it is to use fiat dollars or credit cards. Simplicity of use is critical, and we ain't there yet.

Reason 8-- Cryptocurrencies don't stack up well against Aristotle's definition of money. 

*Durability--Cryptocurrencies may not fade or corrode, but haven't passed the test of time.

*Portability--The Internet offers global distribution, but if there's a power outage or cyberglitch, portability comes to a screeching halt in cyberspace.

*Divisibility--Cryptocurrencies may be easily divisible, but presently flunk the test of being freely exchangeable and replaceable.

*Intrinsic value--Cryptocurrencies have a price, but no intrinsic value.

Reason 9-- The value of Cryptocurrencies is denominated by volatility.

The value is in constant flux, and we hear advocates and promoters singing the praises of Bitcoin's wild upswings, but hear silence when Bitcoin nosedives. It doesn't appear critical to get into cryptocurrencies early--or to get in on the ground floor--because volatility always lets buyers buy the dips after a currency has churned out some kind of track record.

Reason 10-- Cryptocurrencies safety and security are major issues to me. Banks get robbed, but usually there are CCTV photos of the robbers and their getaway vehicles. When cyberrobberies occur there may be no fingerprints and no photos. And hacking does occur. Ad Bitcoin has been victimized... which means that Bitcoin owners are levied to "bail in" so Bitcoin is made whole again. There's no FDIC that protects cryptocurrency owners from loss.

That said, I would like to believe that cryptocurrencies will have a permanent and solid place in future transactions, and I hope one evolves that overcomes the objections that compel me to stand on the sidelines.