Cryptocurrency Epilogue: Please No Cryptocurrency Bailouts!
In a previous post, I expounded on why I felt cryptocurrencies were one of the worst ideas and worst investments of today.
I realized I didn’t go far enough. We as a society need to draw the line somewhere for when we’ll bail people out of their own bad decisions, and cryptocurrency is a good place to start. I believe that cryptocurrencies are so stupid, that when cryptocurrencies do crash, people that are hit the hardest should not under any circumstances be bailed out. I think it would be very appropriate for the U.S. government to go on the record and explain that.
I also noticed recently that what’s perhaps the most cryptic of all is what you can actually buy from anyone or from any business with cryptocurrency. You can find anecdotal tales on the internet of one thing or another being purchased, or that some franchise somwhere accepts a particular cryptocurrency, but invariably those relevant business websites never advertise anything for sale in terms of cryptocurrency.