Restating the Obvious

2018-02-21

One of the creators of a cryptocurrency called ethereum is stating that the instability of all cryptocurrencies with wild swings up and down are an indication that traditional financial instruments may be a better idea at this juncture in the evolution of the cybermonies ...

And that you might not want to maintain any more crytocurrency than you can afford to lose.

Well ... as I have repeatedly said, this is ZERO for me personally and I remain glad that I terminated my Bitcoin full node with extreme prejudice on day zero.

Something about the characterization as "a new and hyper-volatile asset class” and that they "could drop to near-zero at any time" does little to reinforce my confidence in cryptocurrency and there you have it.

The proponents are recommending caution at the same level as the skeptics. Volitility be damned, this coupled with what I view as a level of "ease of theft" pretty much says it all.

Needless to say I won't be venturing out into the world of cryptocurrency assets anytime soon and those big players now have the potential to lose really big from the way it's looking.

Spookage.