That is what I said: Non Government Issued Crypto Currencies are doomed!
That includes all of the usual darlings:
1. Bitcoin (BTC)
2. Ethereum (Ether)
3. Ripple (XRP)
4. Bitcoin Cash (BCH)
5. EOS
6. Cardano (ADA)
7. Litecoin (LTC)
8. Stellar (XLM)
9. IOTA
10. NEO
11. Dogecoin
.... there are over 1000 of these black holes sucking in stupid investors.
Does anyone honestly believe that governments won't outlaw all of these un-minted government coins?
They will outlaw them but first they'll tax them. Then confiscate or eliminate them. They will create their own government minted cryptos and track and tax every transaction.
Fiat currencies are doomed too but governments will kill cryptos ASAP. Does no one understand Counterparty Risk any more?
The Pioneer Pipeline malware / ransomware attack was the final straw. I am sure that politicians around the world are having their lawyers liquidate their ill gotten crypto currencies into offshore havens as I type this. Once the politicians and big players are safely out of cryptos, the remaining suckers will be reeled in and gutted.
Counterparty risk is the likelihood or probability that one of those involved in a transaction or supply chain might default on their contractual obligations.
For those in the know, counterparty risk is minimized by having your asset directly in your sole control. No strings attached. That being said, the governments of the world will always try to take some or all of the asset from the owner. The best asset in dangerous times is the asset that no one else knows a person owns. Precious metals come to mind.
Roosevelt showed the governments reach for private assets in the 1930s:
Executive Order 6102 is an executive order signed on April 5, 1933, by US President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States." The executive order was made under the authority of the Trading with the Enemy Act of 1917, as amended by the Emergency Banking Act in March 1933.
Good luck with your crypto currencies. You are going to need it.
