is the blog of an Orthodox Christian and is published under the spiritual patronage of St. John of San Francisco. Topics likely to be discussed include matters relating to Orthodoxy as well as other religious confessions, politics, economics, social issues, current events or anything else which interests me. © 2006-2024
Saturday, December 04, 2021
Bitcoin Plunges (Again)
Crypto craziness was on display again with the latest huge sell off in Bitcoin, which dropped around 17% over the last 24 hrs. Yet its proponents continue to tout it as a "safe haven" for currency volatility. Meanwhile in Turkey; the lira continues its rapid decline with inflation now running around 20%. Turks are rushing to convert their money... into dollars and gold.
Not nearly enough. Two things bug me about cryptocurrency:
ReplyDelete1)The energy requirements needed to realize the stuff.
2)It becomes worthless when the lights go out.
I continue to be mystified by its appeal.