The moral hazard of the fractional reserve system, and the corrupt nature of people to spill blood for gold. To simply put it Bitcoin is going to be the bread basket of the world. Where people won't have the fear of affording tomorrows bread prices...
CRYPTOCURRENCY Crypto investors ‘should be prepared to lose all their money,’ top UK regulator warns PUBLISHED MON, JAN 11 20215:44 AM EST UPDATED MON, JAN 11 20215:44 AM EST Ryan Browne@RYAN_BROWNE_ SHARE KEY POINTS People investing in cryptocurrencies risk losing all their money, according to the U.K.’s Financial Conduct Authority. The regulator’s warning comes amid wild volatility in the cryptocurrency market. Bitcoin and other virtual currencies plunged on Monday, wiping off $170 billion from the entire crypto market.
I have long positions in bitcoin and ethereum but this is a valid concern for its long term viability. bitcoin is not government-friendly so the idea that governments will get on board is very misguided in my view. Further, the banks are getting cut out of a lot of this so they would rather create their own crypto than back bitcoin so risks do exist in this space.
Not if you can't see it or find it, I can cross a port with a billion in my pocket looking like a bum...
We have a similar view as to the long-term risks. For now, there is demand which is out-stripping supply and it currently provides an alternative place for some folks to park cash.