Bitcoin has HALVED in price! Crazy!
Economic transactions will continue to migrate from paper to digital, and blockchain technology will become more and more prevalent because of its usefulness in reducing the need for human auditors. But that doesn’t mean that cryptocurrencies will replace paper currencies and/or are a good investment.
The US dollar is a cryptocurrency. Probably +95% of US dollars exist in a digital form with a small portion being printed on paper or coined.
>> Like a pyramid scam it needs more suckers to buy into it especially near the top.
Yep.
It takes more money/time/energy to mint the later coins that are worth the same as those who mined the early coins.
Have to keep finding new people to buy into it.
I very much like the idea of currency based on something that is not government fiat. But, yeah, there’s no stability in cryptocurrencies which, obviously, is an important feature.
Trump, as much as like him, is all about debt spending. His financial empire would collapse otherwise.
If you are for a banking system that cannot be inflated out of existence…the dollar is not your ticket.
So have many stocks on the NYSE and other exchanges. Many stock portfolios do the the same thing. Bitcoin is around 37K right now and many many people bought in at sub 2k. I think they are doing ok.
Two years after investing mere $5K into crypto, my crypto is now worth more than my 401K.
For the past two years, Freepers have been down-playing crypto, meanwhile my retirement savings have doubled.
My assessment is that most people don't understand crypto, and therefore are negative about it. I spent a lot of time learning about it and researching the investment space. Yes, if you are stupid about it and aren't careful, you can lose you're shirt, but if you take the time to learn and understand, you can do very, very well in crypto.
Bitcoin?
Not me.
I’ve got all my money in tulips.
I can hold a tulip.
It had a pretty big spike this year from which it came down. it’s still up around 350 percent for the past year or so. Still pretty volatile but has settled down a bit.
If the FBI can hack the blackmailer’s BitCon account, anyone else can hack yours.