My next post is going to be about crypto coins. I basically despise them. There’s a lot going on in this jurisdiction and the priesthood, with their favourites, don’t like dissent. Especially on their own favoured coin. Feel free to make suggestions below. I will have the article ready in 9 days or so. I’m busy next week so it’s unlikely I’ll be posting anything up here in the intervening period although I will follow and join any conversation below.
The last time I wrote about Crypto was here.
I currently own bitcoin, ethereum & ripple. Not that much, I’m not wealthy.
I don’t like any of the crypto coins as retail coins.
I’m quite happy if the blockchain is used to free up commercial trade but to see any of these coins in general use, as in El Salvador (bitcoin, seemingly a complete failure) would be an unwelcome development. And I’d worry that the commercial applications of these coins would be used to leverage them into the retail world (i.e. you using them at the supermarket) with attendant issues relating to freedom.
I expect Ripple to fire up soon but I want it to ultimately fail as it’s the bankers favourite (it really is, I will say why in my article). At the moment it has fallen from a 91 cent high in late March to 59 cents now. It’s extremely volatile. It could though facilitate trade at the commercial level, and for this I’m a hesitant supporter. Ripple is currently in battle in court with the SEC. The outcome of that case is likely to have a big impact on the future use of all Crypto coins but especially Ripple.
Bitcoin has also fallen but not by quite so much unless you extend the date range out a little further as it reached 68k in November 2021. Currently it’s around 38k. Whether bitcoin moves away from its current range is something that I do not know. Is it a good investment? No, not in my view. To become a good investment would require the lightning offramp (an attempt to bypass the inherent uselessness of Bitcoin at retail level) to fire and I don’t want that. Is it likely to go up in price? It could track gold and silver up if people lose faith in the USD. It could also fall further.
The ethereum I hold was just so I could transfer my Ripple. There is a royal battle going on in relation to these two cryptocoins and this includes quite clear corruption in my view.
Elon Musk’s promotion of Doge over the last few years is in my view criminal.
My favourite coin is cash. Gold or silver backed. Easily usable anywhere in the world. I don’t even use my debit card these days other than to withdraw cash at the ATM. I want a world back that is not speculative in anyway whatsoever. So that requires Central Banks to stop printing off money and giving it to Blackrock.
Central banks also have their own idea of crypto coins, the somewhat infamous Central Bank Digital Coins.
Does anybody know who Satoshi Nakamoto is yet? No.
Update 20220502: I should add that I’m not a financial advisor and none of the above is advice about finance or investment. You should make your own decisions on your own investments
As none of us are children or adults to be talked down to, especially not by idiots.
Disclosure: As above I have small investments (very small) in $ETH $BTC & $XRP. And that’s what they are too, speculative investments. There is currently no other use case, of any import, for two bit coins.
I don't like any of it. No one seems to know for sure how it works. I try to pay cash for small things, and use a credit card for large amounts. Unfortunately grocery shopping has become a large amount these days. Even going to the garage is cheaper!
Rob Paul said it best. “End the fed”