As the current us government is very pro crypto, I’d say this is not only very risky, but you would also be buying into their narrative and possibly be an even greater part of it as it crashes and burns.
The government is in it for the pump and dump scam (I can’t believe those words fit together now and everyone will know what I mean). I suspect they are indifferent or ignorant about other cryptocurrencies.
I would be worried that when the scammers in charge dump their holdings, the resulting turmoil will affect other currencies as well. Demand-based markets don’t respond well nor rationally to panic.
That said, I also think the whole thing is a ponzi, and my understanding is of course affected by that. But I believe the logic above would apply in either case.
Risky, but cryptocurrency. Never a bad idea to diversify a bit but maybe don’t put your whole savings there.
As the current us government is very pro crypto, I’d say this is not only very risky, but you would also be buying into their narrative and possibly be an even greater part of it as it crashes and burns.
That said, you’re not wrong.
The government is in it for the pump and dump scam (I can’t believe those words fit together now and everyone will know what I mean). I suspect they are indifferent or ignorant about other cryptocurrencies.
I would be worried that when the scammers in charge dump their holdings, the resulting turmoil will affect other currencies as well. Demand-based markets don’t respond well nor rationally to panic.
That said, I also think the whole thing is a ponzi, and my understanding is of course affected by that. But I believe the logic above would apply in either case.