There will come a time in the future world when the system may face an outage and all ATM and Interac bank machines may not work, and you are holding a certificate that shows how many crypto coins and/or Tesla coins or whatever Apple coins and currencies that you may have in the system, but the system may have found some glitches that may wipe out all that you have and the platform you have invested in.
You may find yourself unable to buy anything because the bank and Interac machines are not working, and all that you have is a certificate of coins/currencies value which no one can verify its existence, and you can't buy food, not even toilet paper.
The system outage may also forbid you to use your iPhone because the internet isn't working either as a result of the outage.
You may find yourself stranded on the streets, unable to digitally work on your front door to get inside your own house. You have to wait for the "system glitches" to be fixed before you can do anything. The hotels may not take you in because they cannot verify the existence of your coins and currencies certificate.
Your electric car may be dead on the spot, as none of those features run by software programs that you have paid to use monthly would work. You hope you can still open the car door to get out and pray that the system glitches will get fixed soon. And who knows how long it will take for the system to get fixed?
Good advice, I am certain, even though they are holding their value pretty well in this choppy market. Personally, I wouldn't touch a Crypto or Bitcoin with a bent coat hanger.
An article with some good advice. As convenient as these crypto currencies are, they are dependent upon the Internet, like most business, these days.
Like we found out here in Texas with the power grid down over four days in the dead of our rather warm winter, a time without the expected necessities can be difficult to weather. It's always good to keep at least a month's supply of food and water if needed as well as cash or even gold or silver for if it gets tougher because of the cascading effect that might happen from one system like the grid, shutting down the Internet and more.
It is so dangerous when you don't know enough to invest in something. Anything that sounds too good to be true it usually is. There are too many instances that I read about people getting scammed out of their life savings. Just a week or so ago I read from the yahoo front page news that a guy who sold his home to buy the coins and lost his life Savings. He then borrowed 100K from his mother to buy more and lost that 100K as well. When he tried to retrieve what was left of his investment the Platform was nowhere to be found. All these coins things are scams, they are nothing but the old pyramid game. They use the money from the new investors to pay the old investors. The pyramid is bound to collapse at any time.
I will not buy into these scams no matter how enticing they may be, and I won't regret it one bit!
This is a very wise write Sandie. I personally cannot see the logic of this type of currency. Since there is nothing tangible to back up the currency, it sounds like a good old fashion Ponzi scheme. Time will tell if I missed out on the deal of a lifetime or I was one of the smart ones. lol
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Gav
Like we found out here in Texas with the power grid down over four days in the dead of our rather warm winter, a time without the expected necessities can be difficult to weather. It's always good to keep at least a month's supply of food and water if needed as well as cash or even gold or silver for if it gets tougher because of the cascading effect that might happen from one system like the grid, shutting down the Internet and more.
Ron
It is so easy to be drawn in…
Thanks for the info and the warnings…
Progress? Definitely not!
Diana…🍃
I will not buy into these scams no matter how enticing they may be, and I won't regret it one bit!
Sandie
PS