I avoid recommending stuff which even I don’t understand. That’s where I am with Bitcoin and Cryptocurrencies. The cost of mining them, for example: aren’t they just computer algorithms? Could I coherently explain a computer algorithm? Yes, many, including one or two clients, have made actual money out of their DIY Bitcoining. But many more, who understand less than me, have had a go and lost fortunes to scams. How many of the population of El Salvador will know what’s going on if Bitcoin becomes their official currency? Not many; but if it happens, somebody, somewhere, probably in lots of places, will make lots of dodgy dollars, I’d guess.
“US Justice’s largest ever financial seizure sees two arrests over $3.6bn stolen crypto”
I make a point of never recommending anything which is a)unregulated or b) I don’t understand and can’t explain. And here’s proof, were it ever needed, that crypto-bitcoins fall firmly into both categories…
