I worked with a security guard that was investing heavily in cryptocurrency.
I told him that he should be pulling his money out and put his money into commodities, just out of the chance that it could collapse. I believe that you should only be using house money when it comes to investing, or as close as you can get.
If you remove your own money, than it matters far less what happens to an investment because it isn’t you that is losing the money.
The Canadian depredations against crypto also had to hurt.
5 years ago, bitcoin was 2,000 ish. Now it is 30K. 1400% increase in 5 years.
Again? :)
They really seem to be pushing for that final Main St dump.
What’s the difference between crypto-currancy mania and the tulip craze in Holland?
You dare question the value of a unique very long string of ones and zeros?
With paper money at least when it goes to zero it still has use. Burn it to stay warm. Or use it like toilet paper.
WOW! Is this article full of inaccuracies.
1. Crypto is not “dead”. It is volatile like any new technology or asset is. To think that it won’t have another rebound or that its adoption won’t keep growing is laughable.
2. Its way too early to claim that it is not in fact a hedge against inflation. Several cryptocurrencies can only ever have so many coins/tokens issued. Several others are deflationary already. By contrast, all fiat currencies eventually go to zero. Read that last sentence again if necessary. Governments always debauch the currency. Combine political incentive with control over the printing press and you will get massive inflation every single time.
3. Governments are getting better at tracking cryptocurrency? That’s good since it was never designed to be untraceable. Quite the opposite in fact. The Blockchain is an open ledger. Every transaction is recorded on the blockchain forever.
Stock up on Bourbon and coffee cuz anything without any intrinsic value will be worthless, including that green paper you slug around in your wallet
Printed money has a serial number on it but who's to stop a country from duplicating those numbers or outright printing excess amounts?