“The cryptocurrency sell-off has exposed those swimming naked”

May 24, 2022 | Currencies

OK, I’ve been banging on about this for a year or two now, but it really was an accident waiting to happen. If you make a paper (or on-screen) profit of a 1000% or more, for goodness sake cash-in as soon as. Most amateur, non-money-laundering investors in crypto-currencies assumed it would go up for ever, it’s the future and other hype. In reality, it’s an unregulated punt on a computer algorithm that few actually understand, and was always going to end in tears for many. Some of that many fell victim to many crypto-scams, for others it was just market forces. Almost the same difference in the end.

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El Salvador plans to make Bitcoin its official currency

El Salvador plans to make Bitcoin its official currency

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...