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23/01/22

07:21

Post #: 59067104
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Originally posted by Marum ↑

It is the integrity of the various Dealers, is that which puts me off Cryptos. How secure are they? Do they have an Fidelity Fund, or Insurance? Do they have an Regularity Authority like Banking does? I can't help but get the feeling, that many of these Dealers/Traders, may turn out to be Ponzi Schemes. While the Merry-go-round is running, all is fine, But when many of the riders want to get off....Hey Presto! There are not enough funds. I have heard, but cannot verify, some investors have had the Devil's own trouble, withdrawing their funds. SWFTX, (the local Brissie one) they even want to know what you intend to do with the money.

NFTs are the latest things - so far. I have been putting a bit of study into them. They too are another manifestation of Block Chain technology. Once again great, until the company holding the tokens goes bust. Then you own 100% of zero.

Even Gold is not secure. If all you have are "Certificates of Ownership", then then you are relying on the integrity of the company. On one forum, one Gold Investor stated. "The Government cannot force me to tell them where my gold is, if they try to confiscate it." My immediate thought was; when they apply the LPG Torch to your nuts, I am sure you would be overjoyed to tell them, well within 30 seconds.

Regards....Marum.

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Last sentence - love it @Marum - starting the day with a laugh - thanks.
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