Does anyone here follow cryptocurrency?

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    • The most important thing is to know on what you're investing. While I do agree that every investment has its risk, however with crypto coins you are "investing" in currencies. The appropriate phrase should be: You exchange euros/dollars in coin xyz.
      Currencies values are based mainly on "trust", the value is skyrocketing because people buy the coins as an "investment" not because they actually trust this currency. When you buy/earn euros, you trust the EU central bank and the governments of EU states even without thinking about it. Why? Because it is commonly agreed upon. When the people realize that their "investment" is not accepted anywhere because businesses do not trust your fancy dogecoin troll currency, they will eventually sell and most of these coins will go extinct.
      Note that I set the word investment in quotes. Because there is a difference between investments and gambling. If you do a bad investment e.g. in stocks and that stock falls, you will lose some money but not everything (in general). You are investing in a company which has people working there and they pay taxes and have regulations etc. And most importantly a product they sell. Some actual material value. With currencies you don't have a product, there is nothing to regulate, nothing with actual value. You don't help the economy, don't create any jobs. Hence the gambling theory.

      I really don't like communism by any means, but I believe this is what Karl Marx meant in "Das Kapital".
      Crypto currencies gave your average Joe the opportunity to be a shady investment banker even without a degree or using cocaine. :P
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