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RE: Why Cryptocurrencies will fail… eventually.
Interesting insight..I know many on here will disagree with you..Are you invested in any crypto?
Interesting insight..I know many on here will disagree with you..Are you invested in any crypto?
Hello @marketanalysis. Thanks for the question.
No, other than my tiny little amount of free Steem I am not invested in the cryptocurrencies for the reasons I described. I was a full-time trader during the 2008 meltdown and I learned some hard lessons at that time. Back then I thought that logic and rationality actually mattered in the financial markets. It turns out that was an erroneous assumption. The reality is that virtually all of the world markets are fraudulent to the core, and that is just the way governments like them.
When I look around the cryptocurrency space there are many obvious scams and ponzi schemes. As far as the more legitimate players go, they are a very cool and even brilliant idea. In a fair and logical world cryptocurrencies would probably flourish. But, we do not live in that world.