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>The larger problems comes from the risk they inject in the market just by existing. They will be hacked, fail KYC, or straight up scam exit with all their cust
by jasonlingx 6y ago
>The larger problems comes from the risk they inject in the market just by existing. They will be hacked, fail KYC, or straight up scam exit with all their customers money and that will impact the value of the market as a whole.
Have you heard of Lehman Brothers? Enron? Madoff? The vast majority of scammers, criminals still use fiat. By your reasoning that would make fiat more risky.
>For my risk tolerance, crypto is completely uninvestable
It’s not really an investment. Many fiat currencies have collapsed before. IMO, risk of holding BTC was much greater when it was $1 compared to now, and as it keeps maturing and... existing... the risk is going to keep moderating.
- verdverm 6y agoIt's for speculation and to get rich quick. That's how myself and a bunch of millennials used it. We had digital money beforehand, it's way easier to use than cryptos, and I get a legal safety net.
- jasonlingx 6y agoIt may be useful to citizens of countries whose currency is about to collapse, or with strict currency controls.
- verdverm 6y agoA global currency, as administered by a global govt, would be better. Einstein is often quoted as saying "The only way to world peace is with world government" It would have to have ultimate say and the power to enforce, even against the US and China, with a globally elected reps & pres.