Crypto doesn't have to turn into the next Tulip Mania - although I think that's likely. Nor will it necessarily boost the activities of criminal and terrorist organizations - although it's already used in those realms. But it's clear that Trump, Elon and Vance's tech buddies plan to push it and ride it to greater personal wealth. Personal wealth, not national wealth - although it might boost that, too.
The #1 question is whether Trump will (if he has the authority) declare crypto currencies as legal tender for paying taxes and debts. In David Graeber's excellent book, he discusses how making the currency of the state the only legal tender for paying taxes (in particular) strengthens the currency and the governments that do so. To me, that raises the question whether making an alternative currency legal for taxes will undermine the US dollar. I expect that it will.
All of that, of course, is irrelevant to whether investing in crypto is a good idea in the short term. It probably is - if you can afford the risk. People made fortunes on tulips, too - for a while.
So . . . which cryptos are the best bets?
The #1 question is whether Trump will (if he has the authority) declare crypto currencies as legal tender for paying taxes and debts. In David Graeber's excellent book, he discusses how making the currency of the state the only legal tender for paying taxes (in particular) strengthens the currency and the governments that do so. To me, that raises the question whether making an alternative currency legal for taxes will undermine the US dollar. I expect that it will.
All of that, of course, is irrelevant to whether investing in crypto is a good idea in the short term. It probably is - if you can afford the risk. People made fortunes on tulips, too - for a while.
So . . . which cryptos are the best bets?
