Most people probably think cryptocurrencies are about getting rich. They’re a mad bet on an insider’s tip that’s going to go wrong any moment.
Things do go wrong for cryptos- Just look at last week: 40 – 50% losses… Ouch.
The usual cries of “Bicoin is finished!” were trotted out… Well they need to sell newspapers somehow. But having wobbled badly for two or three days they dusted themselves off and stumbled slowly back towards respectability to finish at about 20% below their record highs.
For me, cryptocurrencies have always been an opportunity to outsmart the detestable monetary system that has brought us such hilarious phrases as:
The Global Elite tend to be a little behind the technology curve. See how the internet caught them completely off guard. And now that we know how to make cryptocurrencies work, the internet has it’s own money, as Milton Friedman predicted.
As cryptocurrencies start to seep into the general consciousness they become more than just a technical innovation- they become part of a common language which is impossible to eradicate. The only other means of control is to make them illegal, but if the people want cryptos they’ll have them.