When it was a free market, it was fine but a couple of years ago the powers the be decided they couldn't have a market they didn't control so created bticoin exchange traded funds (just like they have for gold and silver) meaning they can literally crash the price by throwing paper in unlimited amounts to drop the price, which is what we're seeing now. I'd avoid speculation. Maybe you should have got in when it was pennies for one, but now, IMHO it's another rigged game.
They're unregulated digital fiat currencies. They have no intrinsic value - meaning they rely on the greater fool theory for you to have any hope of making a profit. You have no objective information to quantify reward/risk - or even liquidity.
Holland tulip bulbs were the craze in 1637. Dot.com stocks were the craze in 1999.
Do you really think you're smarter than the people who trade hundreds of millions every day?
They people who profited from these rely on people who don't know any better to be the buyers.
And no, it's not returning banking "back to the people." Far from it. It's a closed-end ponzi scheme.
Here's a good question for you...
When you say you can get 8% interest, where do you think that 8% extra money is coming from? Extrapolate out now. If everybody earns 8% interest, compounded, where is all that compound interest going to come from?
When it was a free market, it was fine but a couple of years ago the powers the be decided they couldn't have a market they didn't control so created bticoin exchange traded funds (just like they have for gold and silver) meaning they can literally crash the price by throwing paper in unlimited amounts to drop the price, which is what we're seeing now. I'd avoid speculation. Maybe you should have got in when it was pennies for one, but now, IMHO it's another rigged game.
The cool thing is with DeFi you can also Short and make money off the manipulation.
Defi makes it more competitive for the crypto holders to compete against the manipulators.
I know they are reputable.
What is the reddit alternative for "Non-Donald" posts? Steem? Voat.co?
want to buy 21oz of silver?
Right on :)
A good opportunity to make money if you got in early. First saw Bitcoin at $30 and thought it was never going to do anything. Jokes on me.
They're unregulated digital fiat currencies. They have no intrinsic value - meaning they rely on the greater fool theory for you to have any hope of making a profit. You have no objective information to quantify reward/risk - or even liquidity.
Holland tulip bulbs were the craze in 1637. Dot.com stocks were the craze in 1999.
Do you really think you're smarter than the people who trade hundreds of millions every day?
They people who profited from these rely on people who don't know any better to be the buyers.
And no, it's not returning banking "back to the people." Far from it. It's a closed-end ponzi scheme.
Here's a good question for you...
When you say you can get 8% interest, where do you think that 8% extra money is coming from? Extrapolate out now. If everybody earns 8% interest, compounded, where is all that compound interest going to come from?