Cryptocurrencies. What say you?

Wasn’t this like 20k last Xmas hahaha

 

So be honest who was buying last Xmas?

 

I seriously did not understand this stuff then, and I don't understand it now, and as an adherent to ol' Onkle Warren's sage & simple words, "If I don't understand it, I walk away from it," it was an easy choice to take a pass on this yeyo.

Anything goes up that fast without actual generation of something of value, tangible value, generally craters awfully hard when the hype runs out.

 

I’m no investment genius (as my portfolio can attest too) but I saw that thing crashing out as soon as I heard the winklebook Bro’s congradulating themselves on Bloomberg radio.

 

I am starting to wonder whether to invest (small amount, about 20K) in marijuana stock, specifically Cronos (symbol CRON). Altria (Marlboro company) just bought a sizable share in it. Makes me wonder.....

 

Altria, didn't they just buy a large stake in JUUL? Might not be a bad idea Barry!

 

They did, and Cronos as well. Normal cig sales have been dropping 3% a year, so they are changing to face the future, I suppose.

 

Best investment I made this year was the 2.5% 1 yr cd I got in the summer. Everything else lost about 20%

 

should excel!!

 

Today's WSJ

 

A friend who was mining this stuff at home during its infancy said it was running @ around 500 to the dollar, that was back around 2013 IIRC

 

The value of cryptocurrency lies in its decentralized nature, or simply put, the method of consensus. The hype subsided, but the current price is not the real value of cryptocurrency. People are frustrated because they hoped for quick recovery of cryptocurrency instead of the long-term downtrend. But it’s not the reason to bury cryptocurrencies. The price will grow alongside adoption, and today the level of adoption is higher than ever. The earlier you enter the crypto market, the more profits you will receive in the future. Low prices offer a perfectly good opportunity to buy crypto. I use Cex because it is an international platform where I buy crypto with pounds (https://cex.io/eth-gbp). The development and adoption of cryptocurrency are inevitable because the world moves towards digitalization.

 

"Inevitable"??? Really??
So you were of the belief that the Titanic was unsinkable??
Bottom line is this- as long as the planet is divided into nations, each with their own centralized bank, crypto goes nowhere fast.
Also, you write about "the current price"....are you writing about the price of the coin, or the price of the company stock?
As long as the crypto market has individuals that are unclear in their communications, the market goes nowhere fast, once again.
Having said all of that, crypto coinage is not inherently a bad idea. But, like the Ford Cord, a car way ahead of its time, did not sell.

 

Inevitable?

Not.

Can’t track it.
Can’t tabulate it.
Rife with fraud.
Little to no ability to recompense investors from fraud.
Almost no ability to police / enforce the digital market.
It doesn’t build anything, it doesn’t create anything, it’s a false construct.

A sucker’s bet.

 

"An "asset" whose appeal for many is its invisibility to law enforcement, then turns out to be ripe for plucking by criminals. Surprise will be inversely proportional to common sense."

 

Just read headline “crypto currency owners can’t access funds because ceo died and no one knows his password” sounds like a great investment

 

Read some "trending" story on WaPo last night about some feral dreadlocked anarchist whom was being called "crypto king" or some such nonsense.

Seems he was in Acapulco, hiding from US law enforcement on drug charges. Been there about a year managing crypto and branching out into growing weed.

Unknown assailants busted into his shack and capped him and his buddy, but let his dank dreadlocked anarchist girlfriend live.

Both of them were talking about their disdain for America, and how much "safer" Mexico was than the US.

Here's your sign

 

Up, up, up and Up they go.

Onward and Upward, get on the train if you dare!!

 

Get on the crypto train if you are, as Barry aptly states, a Moron!