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They haven't done proper research. There are various reasons to like and not to like crypto. Prices might have probably gotten ahead of themselves, but they do
by charlesdm 9y ago
They haven't done proper research. There are various reasons to like and not to like crypto. Prices might have probably gotten ahead of themselves, but they do have value.
Here is one example for store of value: how much wealth is held offshore globally? Around $32tn. Why is this held offshore? The wealthy want money secured abroad that can't be easily seized by any government -- especially if you have interests around the globe. You don't put all of your eggs in one basket.
Oh wait, that sort of sounds like a perfect use case for crypto.
- evgen 9y agoDo you actually believe that there is some set of bank vaults out there in random islands and offshore principalities that are stuffed full of $32tn in cash and gold? No, the money leaves those offshore locations just as soon as it arrives and returns to places like the US and Europe to be invested in conventional assets that can appreciate in value or return dividends. The money is only secured by the willingness of the offshore entities to hide its ownership, it is not actually in those countries.