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?
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?