"I suggest you all watch four corners program last night, they describes crypto as potentially a huge Ponzi scheme!"
Agreed. One of the presenters on that program was a local lad from my home town and he is very switched on re finance. He stated that many people in Aust will lose their money but Crypto will remain in the future. Effectively in a different form? I have been wary for sometime of the power hungry Bitcoin. It cannot last, the huge costs now to mine Bitcoin at 95 trillion calculations per second chews up too much power. With climate change and massive increases in the cost of power and worse to come yet, any power hungry coins will not survive. It is not rocket science. They have a limited lifespan now and alternative coins will require less computing and power usage. Also moves in the US to have regulated backing with Fiats or gold will be hard to implement but is another arrow in the heart of these trumped up Pponzi schemes. It is absurd that a "currency" for want of a better word chews up the equivalent use of power of a small country. A flash in the pan surely?
