Here's why I'm not jumping on the Crypto Market.
🤔💭 Theory 😲💡
I see a scheme, and I don't like it.
It goes like this:
- Be Central Banks
- Create a non-physical, intellectual currency with good prospects of banks being unable to "print more money"
- Pump it up with a lot of fiat money to make it appetizing
- Use controlled opposition to prop it up further and encourage organic support
- Get all the political right, moderates, liberals and conservatives alike to invest in crypto
- Quickly implement legislation that bans cryptocurrencies and seizes the ethernet blockchain using the FBI and the Central Bank's leverage over the legacy markets.
- The US Government would then own all the crypto certificates, and now the only way to cash them in is to turn it back into fiat dollars.
I'm not saying that's what is happening, but it doesn't seem outside the realm of possibility.
I don't like the odds on it, and I'd even say out-of-hand gold and silver schemes like Charlie Ward is pushing is also running the same scheme.
What are your thoughts? Am I being overly paranoid? Did I miss a step with crypto?
It's my understanding you might own the coin, but only the certificate issuer can "cash you out". If that were the Federal Reserve or the FBI, then what happens when they say you must cash out with fiat notes? Am I wrong on that?
Never invest in something you don't understand. I'm an old, well educated, 30 years of experience, computer scientist. I've researched crypto. I don't understand it. I dare say very, very few people understand it. I've wondered for years why governments have allowed crypto to get this far. Crypto is an existential threat to governments. Business conducted in crypto can't be tracked, regulated, or taxed. You really think governments are going to allow a "black market" economy to coexist with our current economy? A "black market" economy that they can't control, track, regulate, or tax. Not a chance.
Beware of people yelling "the sky is falling and the only way to survive is to buy what I'm selling". If the sky really is falling and the only way to survive is to have what this person is selling, Why are they selling it?
Thanks Simp, makes me feel better! I'm a computer guy but no scientist by any means and I really don't understand it...
Despite that though, being a man of little means, I did invest a little.
As long as your strategy involves "cashing out" at frequent, regular intervals. Otherwise, you're risking a lot.
And by regular frequency, I mean weekly at a minimum. Similar to day trading.
The problem is, finding an institution that allows this.