“Bitcoin and Cryptocurrency have seen more than $2 Trillion wiped out from the combined crypto market capitalization in just six months due to a devastating crypto crash that some feel could just be getting started.” Forbes Magazine
Between the months of October to December 2021 Capricorn Science published about 26 articles covering the components of Cryptocurrency. We went for the anatomy of Cryptocurrency starting with the White Paper that launched it and looking closely at the technical and fundamental analysis, the analysis in general, Tokens, DAO, Crypto Futures, Stablecoins, Blockchain distribution, Non-Fungible Tokens, Blockchain ledgers and DLT’s. It’s fair to surmise that we were and still are fascinated by Cryptocurrency. The reason for our fascination isn’t most likely what you think it is. We found big wholes in their concept.
Cryptocurrency had two outstanding questions that we could not find a logical solution to. First, what did brokers and analysts base their insistent, adamant premise that Cryptocurrency is recession-proof? Second, who owned and kept the inception money?
The current recession has proven beyond any reasonable doubt that Cryptocurrency is not recession-proof. Sorry to point out that you that you were sold invisible clothes and are now running around naked. The second issue, the missing-in-action suspense over who keeps the hard cash after you buy your intangible paper, labels this investment instrument, as a Ponzi Scheme. It does not even qualify for a junk classification. It’s nothing other than an idea that could have worked is elements that protect the investors would have been included in selling the paper.
Before you jump up like a monkey and tell me that your cousin made a killing I will answer that he got in and out before the big bust. That is exactly how the schemes work. When the music stops there are no more chairs. Splat! Thank you for reading.
Learn more about finance terms at Investopedia