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Reader: I agree with the statement that all cryptocurrencies will go to zero, based on these conclusions:

Posted By: RumorMail
Date: Tuesday, 7-Sep-2021 12:02:38
www.rumormill.news/181862

In Response To: Cryptocurrencies Are a Bubble - Legendary investor John Paulson,says all crypto is inherently “Worthless” and “Will go to zero (RumorMail)

Thank you. These are thought-provoking answers.

Lynda

*****************

Re: Cryptocurrencies Are a Bubble - Legendary ....

I agree with the statement that all cryptocurrencies will go to zero, based on these conclusions:

1) If any government needed to inaugurate a digital currency, they don't need to use cryptocurrency technology to do it, just credit card technology.

2) If any government wanted to use cryptocurrency technology they would simply license the technology from a crypto currency provider and/or hire persons out of one or more cryptocurrency providers.

3) If any government wanted to inaugurate a cryptocurrency, they would not encumber it by adopting an existing cryptocurrency and having to load it with debts to the users.

4) There are many reports that cryptocurrency was invented by bad actors in order to move currency around to support nefarious activities. This leaves every single cryptocurrency vulnerable to confiscation, once used to abet crime.

5) If any government wanted to establish a digital currency, it would be because they wanted people to use it, not some other private currency.

6) All governments worldwide have laws stating they and they alone can issue money.

7) There is no real right to issue private currency specified in law.

8) Cryptocurrency is essentially electronic blips, and as such has less real value than tulip bulbs.

9) The value of cryptocurrency is calculated in fiat currency, therefore its value depends on fiat, and it is essentially a fiat derivative with no statement that any government backs it with full faith and credit.

10) If the plugs are pulled on cryptocurrency servers, there is no legal recourse and no public explanation required.

*********************************




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