Re: Make American Great Again

On Thu, 6 Mar 2025, Blueshirt wrote:

JAB wrote:
>

Paul Krugman
....
...
What's a rug-pull? A textbook example just happened in
Argentina, where Javier Milei, the president, touted a new
cryptocurrency called $Libra. The currency's price soared as
thousands of small players bought in, while insiders sold
their holdings for huge profits. Then the price collapsed,
leaving small players owning worthless bits of code.
>
Does this sound familiar? It should: the $Trump coin,
introduced with great fanfare by Trump in January, attracted
billions in dollars from MAGA fans, then quickly lost more
than 80 percent of its value. The great bulk of $Trump coins
were initially bought by a handful of "whales," large
investors, although it's not clear whether their intent was to
scam small buyers or simply to bribe the president.

>
Crypto is just a modern day Ponzi scheme...
>

This is the truth! It has no intrinsic value, and people buy it only due to the expectation that it will increase in value.
The only trace of value of crypto is its utility. It is good for:
1. Tax evasion.
2. Avoiding currency embargos and restrictions.
Does anyone seriously think the government will allow that? They won't. Instead they will only endorse crypto that plays nice with the government, which means it will no longer be anonymous, and just a worse currency in every way, with higher transaction costs, and less useful.
I cannot understand crypto ninjas. I'm certain crypto will double in value, and double again, and people will laugh at me.
Meanwhile I'll continue to happily and successfully invest in the stock market and global dividend payers. It has served me well for decades.