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RE: Elliott Management, a $34 billion hedge fund, described cryptocurrencies as 'one of the most brilliant scams in history' in a brutal takedown.
I get a kick out of guys like this. Crypto is the natural evolution of money. It's controlled by an algorithm, based on a limited supply, and its value is dictated by supply and demand.
Its the perfect solution as a global instrument of value. I think a lot of these guys have a hard time understanding how the technology works, and for that reason have a hard time seeing value based on a monetary system that doesn't rely on government backing, or being backed by anything else other than math.