Disliked{quote} Your analogy is also good, I do not have any firm "No" to any cryptos, infact in India, lot of my friends are buying bitcoins and holding them for better return - like INR 10,000 investment and cashing 25,000 in their bank account. But, they do not know why it is rising and how quick it can fall to which point! That is risky (IMO)Ignored
I'm a moderate, cautios, reserved myself about it
You see, a currency ...:
(1) It must be durable, which is why we don’t use wheat or corn or rice.
(2) It must be divisible, which is why we don’t use art work.
(3) It must be convenient, which is why we don’t use lead or copper.
(4) It must be consistent, which is why we don’t use real estate.
(5) It must possess value in itself, which is why we don’t use paper!!!
(6) It must be limited in the quantity that is available, which is why we don’t use aluminum or iron.
(7) It should have a long history of acceptance, which is why we don’t use molybdenum or rhodium...and CRYPTO .....YET!
Only GOLD and SILVER fit all the characteristics needed.
But I don't care if it is a monkey business, I just want to be on the top side of it with the winners
...and eventually dump it if and when the times come
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