Don't invest in crypto!

[odanny]

I agree that sending life savings to a stranger you met online is reckless. Scams are definitely a plague in this space.

However, calling it 'fake money' ignores the massive institutional adoption we've seen. Investors like Cathie Wood (ARK Invest) have been bullish on Bitcoin for years, viewing it as a distinct asset class rather than just internet magic money. There is a big difference between falling for a scam and investing in crypto through legitimate channels (like ETFs) based on institutional research.

Anyone who invests anything with someone they don't know and have not vetted is a fool, that goes without saying.

Crypto is fine if you understand the market, but if you don't, you should not invest in it. I would like to see this asset class be successful as an alternative to traditional currencies, for those interested, anyway.

I do agree with your post.

 

[luiza]

In case you are shrugging your shoulders..

This should never happen with our regulatory board to stop it.

The physical silver market has collapsed .

London has effectively ceased physical trading and Comex is near to that.

The silver spot price will jump to around 130 quickly --- currently 90 or just under ---- its potential is 200 very quickly and I see 500 most likely --- along with other experts .

As for Crypto ..
Just have faith and buy Ripple ( XRP) .
All the banks will be using it to replace SWIFT transfers and it has the potential to rise from current $2 to well over $1000 ,
All Japanese banks are already mandated to use Ripple as are JPMorgan , Citibank etc ( they are not yet admitting it) .

Suggest you Archive this Post .

 

[Chuz Life]

Anyone who invests anything with someone they don't know and have not vetted is a fool, that goes without saying.

Crypto is fine if you understand the market, but if you don't, you should not invest in it. I would like to see this asset class be successful as an alternative to traditional currencies, for those interested, anyway.

I do agree with your post.

Crypto is a risky investment, I get it and I don't entirely disagree.

However, what are your thoughts on the utility aspect of crypto?

 

[odanny]

Crypto is a risky investment, I get it and I don't entirely disagree.

However, what are your thoughts on the utility aspect of crypto?

Oh I'm in favor of alternate currencies, especially with the U.S. dollar as the world's reserve currency. We all know the debt load the United States currently is carrying, with so many expensive and wasteful wars and the M.I.C. consuming so much of our annual budget.

If our economy implodes, and the dollar is no longer the reserve currency (perhaps oil will be traded in yuan instead of dollars someday) then perhaps crypto would be a better alternative, but presently, there is no better alternative than the U.S. dollar as the reserve currency.

 

[Meister]

Oh I'm in favor of alternate currencies, especially with the U.S. dollar as the world's reserve currency. We all know the debt load the United States currently is carrying, with so many expensive and wasteful wars and the M.I.C. consuming so much of our annual budget.

If our economy implodes, and the dollar is no longer the reserve currency (perhaps oil will be traded in yuan instead of dollars someday) then perhaps crypto would be a better alternative, but presently, there is no better alternative than the U.S. dollar as the reserve currency.

The US dollar is still the most stable currency in the world.

 

[EdwinAMartin]

Cryptocurrencies ≈ $3 T vs. global stocks ≈ $127 T → crypto is about 1‑2 % of the equity market.

Crypto isn't 'equity'. It's imaginary and has no intrinsic value.

 

[EdwinAMartin]

I'm making some decent change making bets on a company that invested heavily in crypto and then crashed. It's volatile and cheap at the moment, though not cheap enough for me to have made a play the last two days, maybe Monday it will tank again and will buy back in cheap. I rarely hold it more than a day at a time.

 

[EdwinAMartin]

The US dollar is still the most stable currency in the world.

Which is actually scary in itself.