Monday, February 26, 2018

Cryptos Could Drop To Near-Zero Any Time, Says Founder of Ethereum #Bitcoin

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Cyrptos are neither legal tender or safe. The world already uses electronic money, it's call the USD, Euro, Australian Dollar, Yen, and so on. Only 4% of transactions use cash, and to the surprise of many crypto traders, the remainder is electronic.

So what are cryptos? Speculative assets based on a lot of assumptions and hope. I'll trade it following the discipline of the tape, but I'll leave the assumptions and hope to others.

Headline: Cryptocurrencies ‘could drop to near-zero at any time,’ Ethereum founder warns

Cryptocurrencies are a nascent asset class and could fall violently at any time, the founder of blockchain network Ethereum warned on Saturday.

"Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time," Vitalik Buterin said on Twitter. "Don't put in more money than you can afford to lose."

Buterin added: "If you're trying to figure out where to store your life savings, traditional assets are still your safest bet."


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