My back hairs go up when I see an unregulated financial vehicle that few really understand. When it comes to cryptocurrencies, I have a lot of concerns.
How do you know if Bitcoin or similar currency is in a bubble? Since thousands are entering the market every day and Bitcoin is being “mined” around the world, it’s hard to tell. There have been massive sell-offs and there’s more irrational exuberance than knowledge ruling that market.
Good point - but here is the thing i have realized about altcurrencies: right now there are literally billions of folks without a bank account: a majority of people in many markets - markets that are about to tap a whole new idea of moving -small and large -bits of money about - with zero or tiny tiny fees. Either on the ledger or anon. No bank fees, or penalties (avg bank fees in SE Asia are crushing to the "average worker") - hence a whole new realm of money exchange, tech, and trading made possible to- again- BILLIONS of people. For this small reason alone many alt currencies will rise, many will slowly grow against fiat currencies, and many big traders will probably dump many many different types of alts in the future, making them worthless. Due diligence needed.
I just realized I am commenting on a upvote post :)
I always liked Chester Cheetah.