It is interesting that crooks who had been involved in other scams are involved in some of the cryptos like Tether. It is always advantageous for crooks to make a scam as complicated as possible, so few people can decipher what is going on.
Cryptos came about from these factors:
Ever more intrusive governments making financial privacy difficult.
Ever-declining value of fiat currencies.
Huge creations of money supply during and after the pandemic.
The ageless desire to creat a “new thing” to make lots of money.
The government of El Salvador, an early Bitcoin booster, is now in trouble because of crypto decline.
An earlier generation would call a Bitcoin “Vaporware.”
Bitcoins do not exist physically. They are simply an entity defined into existence by the use of an algorithm that provides the ability to identify and track the bitcoin as a discrete series of numbers, symbols and characters. Just like anything else, it’s only worth what someone else is willing to to give you in exchange for it. To participate in this exchange you must own a virtual container which is also not a physical thing but is identified and trackable by an algorithm acceptable by the one that defines and controls the Bitcoins.
I heard stories of vaporware way back when. A company would advertise and perhaps even take orders for a product just to see if there was any interest in them actually developing it.
Does that still exist today? Some of the products on Kickstarter?
My personal feeling: An example is in politics with ‘trial baloons’, they float a proposal, see what the response is and then, if it is not popular, say “I never said that and I wouild never do that”. Well, of course not NOW…
To answer the OP question, I used t owork at checkin for a timeshare resort (we were not aloowed toi sell timeshares or I never would have been there). A woman told me that she owned 2 timeshares and still could not get the dates or rooms she wanted and asked if I thought she sould buy another? I think the OP is jumping out of the frying pan and into the fire. I personally dabbled in bitcoin (a couple hundred dollars) and lost half, sold and never looked back. (Actualli I just looked at Satoshi and see it is 1/3 of its opening price. It has been mostly going down. I wonder where all the profit is going?
The OP made the comment and title with tongue in cheek. I already hold a small fortune worth of Beanie Babies and have no reason to invest in risky investment trends.
You can’t go wrong with those. I’m sorry I missed out early on, I envy those who got in at the bottom. Next to a lottery ticket they’re the surest way to a secure retirement.
