Quote:
Originally Posted by DenverTaco07
no insults taken here.
I see cryptocurrency as a service, so there is value, like Facebook(?) - albeit an unethical one, i.e. hiding / laundering of money.
There are many who've made millions, I think it's too late for most, unless you find a way to mine it efficiently.
The underlying technology, blockchain, seems to be on the minds of many leaders of many industries, so there's some opportunity there, if you know blockchain.
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But what if it goes belly up? If a company goes under it has assets that can be sold for value. Cryptocurrency is literally just a number in a computer or series of computers. There's absolutely nothing backing it. Even countries with their own currency have assets whether it be backed with precious metals, land, or other tangible items. If your hard drive crashes and that's where you had all of your cryptocurrency saved, you're screwed unless you can recover the hard drive. Even Facebook has physical facilities, equipment, and other assets to sell off if it goes under.