If you're invested I wish you the best. But here is why I think all cryptocurrency is worthless: It is backed by nothing.
The USD is backed by the courts of the USA, which in turned are backed by people with guns (law enforcement and the military). The YEN is backed by guns. The GPB is backed by guns.
What is BTC backed by? If someone literally steals your BTC, what recourse do you have? There is no court to go to, no one to back it up.
Even the most hard core Libertarians acknowledge the need of a court system and force to back up contract law.
So I will never invest in cryptocurrency because of that. Maybe I'll be wrong and miss out, but that's a risk I'm willing to take.
Distributed ledger is a good thing, but it isn't a store of value in and of itself.
The USD is backed by the courts of the USA, which in turned are backed by people with guns (law enforcement and the military). The YEN is backed by guns. The GPB is backed by guns.
What is BTC backed by? If someone literally steals your BTC, what recourse do you have? There is no court to go to, no one to back it up.
Even the most hard core Libertarians acknowledge the need of a court system and force to back up contract law.
So I will never invest in cryptocurrency because of that. Maybe I'll be wrong and miss out, but that's a risk I'm willing to take.
Distributed ledger is a good thing, but it isn't a store of value in and of itself.