"If the Shoe Shine boy is telling you his favorite Stock Tips of what to Buy, then time to sell all you own in the market." (Market Crash 1928)
I personally do not know of anyone owning Cryptocurrencies. I always remembered Bitcoin as kinda like going to a casino and playing a game for money that I knew nothing about how to win. Result… Throwing away Money to Learn.… Bitcoin, if social network remains strong and stabilizes, it could be a good way to get money out of a country, where government restrictions apply. Like the US, where $10, 000.00 is Maximum transfer. China, allows NO Transfers.
As governments start to intervene cryptocurrencies, all may be deemed Unlawful to own by a host of countries someday, with no way to monitor its ownership. Maybe that’s the popularity of interest to some..
As an investment in cryptocurrency, what is it backed by? Gold/Sliver/Dollar,Yen…… Nothing!! but maintaining large numbers of folks buying & selling the limited issues of the cryptocurrency. If I don’t fully understand how it works, I don’t play someone else’s game. Someone else will have to ride the waves for now. For the investment side of it. I read somewhere where Block chain technology may the best way to play it & not the cryptocurrency itself. Someone has made a lot of money when it was valued at $20,000/bitcoin. This morning its $7400.00 and climbing.
Do any of the forum folks know anyone who has bought/own Cryptocurrencies and made money?