No intention of offering financial advice. However because the dogs are barking we should all take note.
I had a minor splurge with crypto 2 years ago but only lasted 1 week. Recently I have reappraised my outlook after the intervention of the Tesla Kid who is a person of influence.
With the world economy crumbling the picture is well known ..... blame it all on boomers:
The question to ask has to be "how are the planet's political clowns going to pay for their deficit spending". Cyprus was probably the trendsetter in 2013 when it imposed a haircut on uninsured deposits with banks. This technique seems to have been upgraded with the "Great Reset where you will own nothing".
Hockey and Neuman had a bit of a go at paying down the debt but the backlash from the media meant that none of them will try it again. Now it is an unending and ever growing debt. How and who will ever pay for it?
Enter hyperinflation where players debts just vanish into the dust. The uncontrolled printing of yankee dollars should be followed by big inflation. However there is usually a time lag of 3-5 years. However because the usd is a reserve currency it would seem that it is untouchable. De Gaulle demanded gold instead of the usd. China is trying to replace the usd with their own abominations (which include crypto)......
The thing about crypto is the ridiculous super profits that owners are making. It is a commodity because they contain labour.
Dogecoin, eg, has appreciated around 400x in the past year. It went from .001 cents a year ago to .39cents today. I have singled out Dogecoin because it is meant as a joke and hence is popular and it has the support of Elon Musk. Musk has been ramping it. He bought some for his toddler so he needs it to appreciate in order to save face.
Purely speculative
There are approx 100 billion d-coins
The number increases 5 billion per year.
Possibly 1-5% disappear each year (Lost passwords)
Recent Aus high 60 cents last week
Current price 40 cents.
Uses. Given to kids as a present. The symbol is a happy dog.
Prospect. Given the crypto hysteria of gen v 40x-100x
Worth a few lazy grand only which may vanish.
