Do you have cryptocurrency exposure?
Do you have cryptocurrency exposure?
LOL, portfolio
that's like asking "do you have scratch-offs in your portfolio"
I bought some bitcoin at Mongkok MTR station around 11pm one night after company servers were attacked by ransomware and the hackers wanted 3 bitcoins to unlock the servers. Since I didn't have an established bitcoin trading account and this would take a few days to setup which is time I didn't have, I had to withdrawal cash from an ATM and then met the bitcoin trader at the MTR and paid in cash and he kindly showed me how to transfer the coins to the hackers for free. Then the hackers sent me the decryption keys so I could unlock the servers and company was back to normal .
Lucky this was a few years ago now when bitcoin was only $500. So cost was only around $1500 in total.
You can get some wild interest on these things
If you buy a bitcoin and go short the perpetual swap on one of these futures platforms, you lock in your US dollar value and earn a 'funding fee' of about 0.03% per day, which seems like quite a good deal...
In the case of bitcoin it seems closer to a ponzi scheme perpetuated by only a handful of exchanges without any oversight and publicly available trading data. Most of bitcoins values probably comes from wash trading on those exchanges. Not so much a bubble.Original Post Deleted
Edit: 95% of bitcoin trading volume is estimated to be fake
https://www.sec.gov/comments/sr-nyse...833-183434.pdf
The US dollar is making all-time lows by the hour
It just crashed through 0.000045...
With the printing presses whirring, fiat currency isn't worth the paper it is written on
While various forms of money printing (QE, MMT etc) are as, you say, going into overdrive and the value of currencies will continue to decline as a result, that's a reason for not leaving your savings in cash/bank deposits (beyond short term needs) - it's not a reason for buying into a bunch of computer code with a catchy name.