Bitcoin frenzy has reached a new level in the past few days. Since the futures launch Sunday on the CBOE there has been explosion in both Ethereum and Litecoin. I suspect that a big part of this is the hype we saw last week and the retail accounts of investors finally getting funded and transaction finally being made.
Personally I think this whole crypto thing has legs and is not going anywhere, however the ride is going to be very volatile. It will be more volatile than any thing else we have ever seen and will take time to sort out. Although we are still in the infancy (means opportunity) of this, unfortunately it will be nearly impossible to be a winner and the majority of us are going to end up with Pets.com. I have said this in my head that what we really need is an ETF that owns a basket of cryptos or all the cryptos. That would be a great bet on cryptos and not necessarily a particular coin.
The coin (or coins) that win out will be the ones that society deems to win out. That is the beauty of bitcoin and the decentralized nature of it. Tonight I rewatched a cartoon from the 70s that explained basic economics and currency thru the "The Kingdom of Mocha' animated cartoon series. It shows a lot of parallel including how the clam shell came to be the currency of Mocha. Regardless if you are investing in crypto or not this a great video of basic economics that everyone should watch.
For those that don't have a COINBASE account, here is a link that gives you $10 off your first purchase. For those that want a physical BITCOIN to act as a fidget spinner or novelty item here they are available to purchase on Amazon.
For those that don't have a COINBASE account, here is a link that gives you $10 off your first purchase. For those that want a physical BITCOIN to act as a fidget spinner or novelty item here they are available to purchase on Amazon.
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