Originally Posted by
rickair7777
My attitude towards crypto is that that there's a lot of unknowns, as far as investment potential.
There are a variety of arguments as to what makes it special, and my brother who has expertise in the field will fully elaborate on that, but personally I'm not sold.
That's mainly because I'm not in a position to do highly speculative investments.
As was mentioned, once your financial security is accounted for, no harm at all in dabbling with discretionary money. Some people go to Vegas. I enjoy travel and toys.
The one clearly solid case for crypto is if you actually have something to hide, ie professional criminal. As opposed to an airline pilot who suspects the NSA is out to get him.
Your observation regarding the relationship of crypto to crime, fraud and corruption is very important and deserves greater publicity.
The criminal aspect of crypto should make a person pause.
EVERY transaction involving government currencies for crypto reinforces the ability of horrible and harmful people to profit off illegal activity which is compensated/traded in crypto.
It is sort of like buying a condo from a group that you know makes its fortunes from drug trafficking and kidnapping. While the transaction is legal and on the surface innocent, the purchase of the condo is how they complete the laundering of the drug money. The buyer of the condo is a required actor in these crimes.
Crypto is no different.
Buying crypto funds North Korea, Russia, drug lords, and untold others ranging from greedy hackers to viscous monsters.