Silly masses seem to think their money belongs to themselves! How dare they come up with a way to transfer it away from our greedy hands! /s
When I did my taxes I noticed a question at the top of the 1040: “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”
I understand that cryptocurrency is a money launderer’s dream.
E-tulips
“How dare they come up with a way to transfer it away from our greedy hands!”
Except you didn’t.
hard to imagine crypto currencies survive future econcomic downturns, IMHO.
A great analogy of the value of bitcoin is like the value of owning a race-horse.
The value of the horse depends entirely on wealthy people deciding that faster horse winning races are more valuable than slower and older ones, with reproductive derivitives included in the value.
As a horse, the mighty animal is a poor worker, is extremely expensive to transport and keep in top physical condition, health, and training. Any moment may bring a break or illness ending its life and value. But besides occational betting gains it has no real value. The man on the street could care less. In times of hardship, people would rather eat it than bet on it or even pay to watch it run.
Crypto is a game played by the wealthy who are bored with creating businesses, jobs, exponential value by hard work, innovation, and solid , core principals where the value is obvious.
Anyone still kicking in 20 years or so, lets review if anything is left of those toy investments. (Oh, they favor the massively wealthy, who can buy up all of the GPU cards leaving real innovators, creators struggling to lead the economy)