So I’ve been investing and looking into the cryptocurrency market and noticed a few problems and frankly have some concerns.
- Technically anyone can make a “digital coin” or your own version of Bitcoin…
- Well if you have source code and deploy your own coin, you can easly mine billions of coins before anyone or have a certain advantage.
- I am seeing people on ebay buy up any cryptocoin that is 5,000,000+ for 15-20$ at a time, thinking one day its going to be worth $1,000 each…
- Obviously selling 5,000,000 of something that really isn’t worth anything or relevant and is not even top 10 crytocurrency is fishy…
- You can download a wallet that already looks fishy (lol) that has a worm that steals backups of all your wallets silently.
Here where it gets fishy for me… I can download the source code too, change some images and compile source with customizations that will give me as much “currency” as I need. I can easy make claims on ebay or simular auctions sites that this is the next big cryptocurrency. If I charge people $15-$50 for 5 million and I have 1 Billion then I couldn’t mind selling it either and then disappearing. You download my “custom” wallet that has a worm that steals backups of all your wallets. I run those backups and then funnel all your money back into my accounts.
People should be careful this is a really bad trend with this type of currency, if you decide to buy any make sure its top 10 or dont bother, they most likely wont make it unless they are designed to solve a problem within a niche market like sexcoin.
I am not trying to discourage the use of cryptocurrencies, I am asking that you be cafeful and make smart choices. People now days are ruthless.
Weather you like it not crypto-currencies are here to stay, governments continue to play off their numbered days as to in some way discredit the notion or idea of monetary policy outside of their control. The reality is simple banking 2.0/3.0 is coming and the banks know this, they maybe able to kill of the 1st Generation Bitcoin protocol but like any “idea” once its grasped by the public the sky is the limit.
Since the conception and public release of Bitcoin by Satoshi Nakamoto ( probably a fake name to hide the real creators identity, to protect him from banks and any hostile institutions trying to get their hands on “specific” code ) I have seen numerous crypto currencies appear on the market some offering much higher levels of security others portability. Like everything with time it will be perfected and centralized banking will lose all control and governments will have to adapt, imagine that a system that cannot be influenced by greedy self-righteous entitled douchebags.
Any government who decides to adopt/integrate digital currencies early into its economy will flourish, as people learn more about crypto currencies, more will make the jump from fiat to digital. Already countries around the world are looking for alternate commodities to hedge against the collapsing US Dollar. So Why not buy a Bitcoin right? It looks like China, Russia, Germany and many more EU countries are following, they all need to dump their dollars and what better way to do it then investing into the future.
So when you hear government officials come out with their PR stunts to try and discredit Bitcoin, show the TV the middle finger, it’s being a hypocritical lier.
Don’t believe me? Watch the flow of bitcoin around the world in real time.