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Posted on 12/30/2022 6:42:40 AM PST by catnipman
It’s been a brutal year for the cryptocurrency market.
In the latest blow to the crypto space, Core Scientific, one of the largest publicly traded crypto mining companies in the U.S, which primarily mints bitcoin, filed for bankruptcy on Dec. 21, citing falling crypto prices and rising energy costs.
And the implosion of FTX, a now-bankrupt crypto trading platform that was once valued at $32 billion, has shattered investors’ confidence as the ripple effects of the company’s collapse continue to spread throughout the crypto industry.
“Many Americans are coming to realize that cryptocurrency is just a speculative mania and the industry is rife with crooks,” James Royal, principal reporter at Bankrate, tells CNBC Make It.
To that point, about 60% of Americans now believe investing in digital currency is highly risky — up from 45% in 2021
Prices are likely to fall further when “traders and crypto companies begin to see that they don’t have an unending stream of marks [greater fools] willing to prop up crypto prices,” Royal says.
(Excerpt) Read more at cnbc.com ...
US Dollar is valuable BECAUSE THE FEDERAL GOVERNMENT HAS POWER TO TAX THE LARGEST ECONOMY IN THE WORLD. So simple reason, I am shocked a man of your intelligence and knowledge did not know.
You mean the corrupt feral government that is looting the treasury and laundering it through fake cryptocurrencies and transferring it to their pockets?
That feral government?
Yap, the corrupt, socialist and idiotic government has this enormous power to tax us at whatever rate it wants. That is the only reason Dollar has been strong lately.
Not for much longer.
crypto will exist for as long as leftist billionaires and democrats can use it to launder money
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“That is the only reason Dollar has been strong lately.Z”
that and the fact that it still functions as the world’s reserve currency because it’s still the most stable currency in the world ...
“How is a US dollar valuable?”
because it’s the unit of account, medium of exchange, and store of value in the U.S. economy ... in other words, you can buy stuff with it ... try to buy everyday consumables, electronics, pay utility bills, pay taxes, or pay a mortgage or car loan with anything else and you’ll understand the answer to your question ...
“You gotta be one stoopid sumbich to get in on the tail end of this ponzi scheme.”
indeed ... and guess who the big losers were in crypto in 2022? yep, the stoopid and greedy sumbiches ... unfortunately, they’re the ones who can least afford to be fleeced ... but that’s always the case with Ponzi bubbles ... the rich crooks fleece the poor folk ...
Not for much longer.
The social credit system and fifteen minute cities are taking its place.
You will own nothing and they will own everything.
Treadmills are boring. But I go there (heath club) once a month to see what me heart rate is.....Get outside and walk on the Pensacola Beach
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