Disclaimer - I do not condone investing - at all. Nobody should risk their money - ever
....A quick Google search for advice into wether or not you should plunge some of your hard-earned cash into Cryptocurrency will spit back an obvious divide on subjective opinion.
But one thing will stand out. The big players behind Wall St. the Federal Reserve and large banks are all echoing the same predictable chorus of 'advice'.
None of it is even partial or professional. It's advice derived from and bred through scare-tactics, in order to instill fear into the general public;
"Vice President Vitor Constancio of the European Central Bank said in September that bitcoin isn’t a currency, but a 'tulip' -- alluding to the 17th-century bubble in the Netherlands"
"Benoit Coeure has warned bitcoin’s unstable value and links to tax evasion and crime create major risks"
'Bank of France Governor Francois Villeroy de Galhau said in June that French officials "advise great caution with respect to bitcoin because there is no public institution behind it to provide confidence. In history all examples of private currencies ended badly." Bitcoin even has a "dark side," he said, citing data attacks and warning that people who use the cryptocurrency "do so at their own risk."
India’s central bank is opposed to cryptocurrencies given that they can be a channel for money laundering and terrorist financing.
"Bitcoin is a fraud that will ultimately blow up", according to JP Morgan boss Jamie Dimon, who said the digital currency was only fit for use by drug dealers, murderers and people living in places such as North Korea
Understandably, this will just seem like your average conspiracy, but the primary point I want to alude you to is that caution should be exercised when reading advice from these big players and extra caution is required when you notice their 'words of warning' landing in your Facebook news feeds and daily headlines. Eventually, this will happen because they've done this before.
During the 1930s, on the lead-up to the Great Depression, the faces behind the Federal Reserve and large banks were responsible for the closure of some 9000 independent banks through similar methods of scare-mongering. Causing hundreds of thousands of innocent members of the general public to withdraw all their funds from these small banks and forcing their liquidation.
http://www.washingtontimes.com/news/2008/may/12/panic-control/
To summarise, with the liberal, anti-government nature of Cryptocurrencies, it doesn't take an industry expert to conclude that the people we rely on in this arena for advice are probably going to have a pre-set agenda already programmed.
Thanks for reading.
Pete