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I am still amazed that after all this time otherwise smart people cannot understand that cryptocurrencies are simply fiat money with bad guarantors. Instead of
by sverige 8y ago
I am still amazed that after all this time otherwise smart people cannot understand that cryptocurrencies are simply fiat money with bad guarantors.
Instead of the government of the United States or China or Britain or India or some other actual entity that is highly likely to survive nearly any catastrophe or change in leadership, cryptocurrencies are backed by shady MLM hucksters who originally met on a minor and very geeky gaming BBS to come up with their scheme, and whose downline marketers hire C- and D-list celebrities to shill for them. You don't even end up with a garage full of awfully-scented soap when it crashes.
- gammateam 8y agoPassive investing in misnomers are the main problem. As you are spot on: there are no coins, currencies. As my previous post mentioned, there are no/few tokenized companies trading either. But your disdain is still too broad and blanket. There are plenty of ways to be productively deploy resources for profit in that market. Its typically just not a directional/long-only passive approach, it is more actively creating an asset and market until you are satisfied. Just like in other markets.