As its business faces a disaster, enterprise author Michael Hiltzik says cryptocurrency has no professional worth in the actual world and must be eradicated.
What we name the “crypto celebration” ought to by no means have began. As a result of on this celebration, there’s nothing being bought or promoted that's essentially value something.
They pitched cryptocurrencies as an alternative choice to authorities management – they stated that these currencies can’t be manipulated. However these currencies also can not be protected or audited or tracked.
Now, there's extra enthusiasm for cryptocurrencies than ever earlier than. They're turning into “mainstream”.
Small, not so knowledgable, traders have been lured in. And they're those being taken to the woodshed on this meltdown. They purchased at very excessive costs, and they're now coping with very low costs. A few of them have misplaced their life financial savings.
I'm offended at our regulators for letting this occur. I'm offended at promoters for knowingly sucking folks in. However I’m additionally offended at individuals who have been sucked in, as a result of they need to have been extra cautious with their property.
Enterprise columnist Michael Hiltzik explains why he thinks the cryptocurrency market is nothing however a rat gap for folks to lose cash in.
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