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Is the crypto boom & bust just part of 'every bubble being pricked' in wider market sell-off?
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<blockquote data-quote="Dave79" data-source="post: 657562" data-attributes="member: 12713"><p>Not sure where you got the idea that I was promoting precious metals as a high yield investment, my point is that both cryptos and fiat currency are completely dependant on confidence to be worth more than the paper (or digital equivalent) that they are printed on. </p><p>We've all seen the pictures of people using a wheelbarrow full of banknotes to do a couple of days worth of grocery shopping and burning money as firefighters, and there's nothing tangible stopping the USD and AUD following suit.</p><p>I for one have lost all confidence in our current monetary system, got a trillion reasons, and if everyone else catches on, at least you can still light a fire with plastic bank notes!</p></blockquote><p></p>
[QUOTE="Dave79, post: 657562, member: 12713"] Not sure where you got the idea that I was promoting precious metals as a high yield investment, my point is that both cryptos and fiat currency are completely dependant on confidence to be worth more than the paper (or digital equivalent) that they are printed on. We've all seen the pictures of people using a wheelbarrow full of banknotes to do a couple of days worth of grocery shopping and burning money as firefighters, and there's nothing tangible stopping the USD and AUD following suit. I for one have lost all confidence in our current monetary system, got a trillion reasons, and if everyone else catches on, at least you can still light a fire with plastic bank notes! [/QUOTE]
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Is the crypto boom & bust just part of 'every bubble being pricked' in wider market sell-off?
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