Originally Posted by
dawg80
Bitcoin and the rest of such investment vehicles are under a lot of pressure with the news of possible crackdowns, especially in China and South Korea. Those two countries have a particular role in this because 1) S. Korea has the largest exchange(s) and 2) China is home to some of the world's biggest money "transferrers." And they are using the cryptos to get their money out of China. The Chicoms don't want that to happen.
In addition to those two, other countries are exploring either banning it, or strictly regulating it.
Beyond guvmint interference, there is the sector itself. The whole industry is built on promises. There is NOTHING tangible backing these currencies. Only the promise/hope that they will become an acceptable means to conduct transactions. YES! it is true that's happening already. I saw where Amazon and I think EBay have started accepting such currencies in transactions with caveats to both parties that if the whole system collapses, so sad/so sorry but Amazon won't make the parties whole again. Not exactly a sound structure to build on.
So...are the cryptos a good investment opportunity? Are they even worth a chance, with maybe a small (in case you lose it all) investment?
Comments? Opinions?