Cryptocurrency - Be Careful

[mrisha]

Be careful with cryptocurrency if you are involved with it..  Kim Kardashian West has been fined 1.2 million dollars for not following the rules.

[dreamyxo]

Good grief.  She can afford it though.  I still don't trust so I haven't invested in it.

[UGetPaid]

The cryptocurrency taboo out there is kind of ridiculous. Be cautious? YES! Like ANY other investment, be cautious. But the misinformation that is spread about it and the fear of it because it is the "unknown" is really very disturbing.

[fluffyubnny937]

Everything about cryptocurrency screams scam to me. So far the only use I see for it is to buy it and to hope the price goes up to sell at a profit. Which isn't to different from the stock market but at least when you own stock in a company you have some voting rights concerning things like who sits on the board of directors. Though the average Joe doesn't own enough stock to have much of a say. But with crypto you just seem to own this thing that you hope goes up in value. Kind of like buying art but at least with art buying and selling if the value doesn't go up you still have a pretty piece of art to look at.

[ssarber]

A REAL financial advisor told us that it was one of the most volatile things to buy into. Therefore, I wouldn't touch it. To each their own though.

[oldbuddy]

I don't buy crypto, but I don't mind earning it free and putting it on deposit to earn compound interest. Who cares if it's volatile? It only affects the price when you get ready to sell it and you are in full control of that.

[UGetPaid]

Be careful with cryptocurrency if you are involved with it..  Kim Kardashian West has been fined 1.2 million dollars for not following the rules.

Also - let's be a little bit more precise here.


KK got fined because she promoted and endorsed a particular crypto without disclosing that she was paid to do so. She is a celebrity with a lot of influencing power. The average joe isn't going to be paid six figures to give their public endorsement for a crypto. So the rules that she broke which prompted the fine are not rules that any of the rest of us need to give two *bleeps* about.


What you SHOULD be careful about is putting a dime into any shill crypto endorsements made by someone who has zero practical knowledge of the concepts involved.




(EDIT: I actually had to censor myself. Apparently the filter allows you to write and post slang words for defecation, but won't allow you to say more innocent words like b-a-l-l-s).