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Is crypto really going to crash? (Yes). By Robert Reich.

Crypto is crashing and could take your savings with it.

Recently, major cryptocurrencies like Bitcoin have plummeted in value -- with nearly $300 billion wiped out across the entire market in a short period of time.

In the murky world of crypto decentralized finance, known as DeFi, it’s hard to understand who provides money for loans, where the money flows, or how easy it is to trigger currency meltdowns.

There are no transparency requirements. Investors often don’t know how their money is being handled. Deposits are not insured.

It’s a Ponzi scheme, where getting rich depends on how many other investors follow you into it -- until somebody’s left holding the worthless crypto coin.

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LiterateHiker 9 Aug 16
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5 comments

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0

Many people like using Exolix [exolix.com] as their primary bitcoin exchange. In addition to Bitcoin and Ethereum, there are numerous more cryptocurrencies that customers may buy. The ability to link a bank account is only one of several helpful features it provides.

1

Thanks for sharing this video. But I don't quite agree with Robert Reich's opinion. I don't think that crypto will ever crash. Or if this will happen, it is not shortly. Now all crypto currencies are in continuous development. Yes, there are times when their value decreases but then increases. This is what investing in crypto consists of. That's why you must be brilliant and take some intelligent steps. I have been investing in BTC for a long time and have often heard such fake news. But here we are today when crypto is in a perfect situation, and my investments are going very well, and even more so, I started bitcoin mining.

0

It seems to me that cryptocurrency is our future, cryptocurrency can and probably will replace our real money in the future, since we need to preserve forests and resources that are spent on printing money to save the environment and our nature. Analysts from TokenScope claim that this can happen in five to six years, and the cryptocurrency will become a complete replacement for real money. I believe this and completely agree with them, because I really care about our nature and I believe that electronic money and cryptocurrency are much more convenient than the usual cash that we use on a daily basis. Good luck to everyone and take care of yourself!

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It seems to me that cryptocurrency is our future, cryptocurrency can and probably will replace our real money in the future, since we need to preserve forests and resources that are spent on printing money to save the environment and our nature.

3

I don't know much about crypto currency, but I've talked to others who have invested, and my take is that they're speculators and it's very risky. I absolutely will not invest in crypto. Maybe I lack imagination, but I just haven't seen anything that gives me any warm fuzzies about crypto. I want safer havens for my investments.

Same with NFTs, which seem repulsive to me.

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