The Western monetary system is tottering
Fearing demonetization and forced expropriation as a result of the European insanity policy, many people are looking for ways to protect their old-age provisions, personal reserves, nest eggs, in short - their savings. Gold and silver is one possibility(in the past always a very good one...) Cryptocurrencies are another, a new one, a very promising one.
Cryptocurrencies are calculated
Cryptocurrencies are electronic currency units that are calculated using algorithmic techniques and can be uniquely assigned. These currency units do not exist in real terms, only the calculation result is documented in the form of a distributed transaction database on the Internet and exchanged between the owners. This database is called the BlockChain. The exchange of cryptocurrencies, i.e. buying, selling or exchanging them for goods, is usually done by using electronic wallets called wallets. As a rule, each cryptocurrency has its own wallet.
Market laws remain in place
Unlike paper currencies, cryptocurrencies cannot be multiplied at will. They are (still) free from government manipulation, largely anonymous and tradable worldwide. As with any currency, the value of a cryptocurrency is derived from trust in its acceptance as a means of payment and the result of supply and demand. The best known cryptocurrency is BitCoin. It is the currency with the largest market capitalization. In addition to BitCoin, a variety of other cryptocurrencies exist. An overview can be found here... and here... .
The temptation is great - stay alert!
As it is, man is man's wolf and when something new, something unknown appears on the fairground of possibilities, the crooks and shell players are not far away. In the existing financial system, central banks and governments are the grifters established by law. Cryptocurrencies are virtually counterfeit-proof, much like gold and silver. But with deception and good nature, the con artists work here too, similar to our government coercive currencies.
Recently, I have been receiving more and more inquiries as to whether "this" or "that" cryptocurrency is "okay", or how its performance is to be estimated. How the value of a cryptocurrency will develop, even I can not predict. But the scam is quite easy to spot. Fraudsters take advantage of the ignorance of investors, they use a word salad of technical terms of cryptocurrencies, spice with some academic financial voodoo, garnish a few deliciously fragrant lies on top and ready is the cotton candy menu for a peppered Ponzi scheme.
Please note the following:
Cryptocurrencies do not have payout bonuses or redemption rates. There are also no special bonuses, joining bonuses or welfare shares. So if you receive unsolicited messages and one of these vocabulary words is used in German, English or gladly in Bulgarian, Russian, Indian or Chinese, then you should become suspicious. Very suspicious!
