Cryptocurrencies are a manifestation of The Greater Fool Theory of investing. A justification for cryptocurrencies is that they are unmoored from any government-regulated currency. Their primary utility, it turns out, is funding criminal activities. Stablecoins are a form of cryptocurrency linked to a government currency (the dollar, the rouble, etc). Of course, tethering the value […]
I see where Russia is turning to cryptocurrency to avoid sanctions. Seems like there’s a new cryptocurrency every day. Scam? Ponzi scheme? Part of your retirement portfolio? To answer this question for myself, I have to compare crypto to its alternatives. I’ll focus on Bitcoin because it’s been around awhile and seems to have a […]
Trump posted on his pseudo-twitter site: “I will make sure the U.S. is the Crypto Capital of the World.” He announced something he calls a US crypto strategic reserve. What, exactly, is a crypto reserve? Look, I get it. Money is whatever people use as a medium of exchange and a store of value. And […]