Watching FOX Business Channel this afternoon...
A big banner across the bottom of my TV screen said "SBF set to testify to Congress" and also "Growing Calls for Crypto Regulation".
Larry Kudlow interviewed US Senator Tommy Tuberville of Alabama. He said - "90% of the people that invest in Crypto cannot explain it to you". He's absolutely correct. The most the Average Joe knows is they think they'll get rich off it.
Ask yourself these questions - Do I really understand what Crypto is? Could I easily explain it to someone else? If your answer is no to both of those questions, then why in the world would you ever invest in it?
I have a basic level of understanding of crypto and I wouldn't touch it with a ten foot pole. I know what "Coinbase" is... it's the largest Crypto Exchange and it's a website where I could set up an account to buy and sell various crypto's. My account is called "a wallet". I know the name of the software technology used to buy and sell crypto online - It's called "The Blockchain" but after that I've no clue what Blockchain does or how it works. I also know that the Blockchain programmer (nobody knows who he/she is) set it up to process a buy/sell transaction and then delete all visibility/traceability to the transaction. No wonder organized crime money launderer's love crypto so much....
There are many crypto "coins" but the big three are Bitcoin, Ethereum and Litecoin. There's also something called Dogecoin (I think that's how you spell it) but the funniest coin of all is "Shxtcoin", which some say really stinks as an investment...
Next holiday party you're at tell somebody "Bitcoin? Hell I bought Shxtcoin and I hate to tell you how that worked out!" G5