“Spending Real Money to Get Something You Can’t Even Really Explain”: What the Hell Is Going On With Bitcoin?

  • 📰 VanityFair
  • ⏱ Reading Time:
  • 80 sec. here
  • 3 min. at publisher
  • 📊 Qulity Score:
  • News: 35%
  • Publisher: 55%

Is the Bitcoin bubble about to burst? Or are savvy investors about to strike it rich? As the cryptocurrency market blows up yet again, even experts can’t say.

United States Headlines News

United States Latest News, United States Headlines

could potentially make a small fortune on it, as have some of the world’s nerdiest nerds. There are economists who predict it’s going to be worth $1 million one day, while others say that it will be worthless any day now. If you’d purchased

of it in May 2010, that investment would be worth almost $5 million today. (When I did that math I uttered the same expletive you likely just did.)If you’re wondering what on earth is going on with the world’s first cryptocurrency (or any of them for that matter), you’re not alone.

. But while a lot can happen during any decade—10 years ago today, the iPad hadn’t yet been invented andwas still a washed-up reality-TV star instead of being a washed-up, twice-impeached president—the rise of crypto over the past 10 years has been one of the standout investment opportunities in human history, and yet, one of the most confusing and, perhaps, without merit since we started trading in Mesopotamian shekels.

Part of the problem with the crypto segment of tech and finance is that most forms of cryptocurrencies only make sense to a small handful of people, and are barely comprehensible to most of us. Just look at the description for any of the new up-and-coming “coins” that have beenreleased: “We are your go-to yield farm running on Binance Smart Chain and Pancakeswap exchange.” (Yes, exactly.

But while the potential return on investment can be staggering, so can the real losses. In December 2017, Bitcoin was riding high at close to $20,000 each, and then fell dramatically, and didn’t fully recover until December of last year. Now, crypto is going in the opposite direction, with the collective market capitalization of all cryptocurrencies being traded in the world today being. But there’s also real fear of a crypto bubble that could go pop at any moment.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Americans support Biden's spending and want him to spend more, polls showMore Americans say they approve of the $1.9 trillion Covid bill Biden signed last month, and his $2 trillion infrastructure plan is already popular. Do people buy this nonsense? 🤣🤦‍♂️ keep inflating, printing, spending and don’t look back!!! i’m sure nothing bad will happen to the integrity of money, or the entrepreneurs of a new generation. what’s the dollar again? bitcoin Of course. We are a buy now pay later society.
Source: CNBC - 🏆 12. / 72 Read more »

8 Men Reveal How Much Money They Actually Spend On Grooming ProductsMen of different ages, ethnic backgrounds and locations share how much they spend on skin care, hair care and more.
Source: HuffPostWomen - 🏆 27. / 68 Read more »

Hunger Rates Drop as People Spend Stimulus Money on GroceriesAccording to Census data, initiatives to increase access to SNAP benefits and the stimulus payments have shrunk adult hunger rates to about eight percent, the lowest level since the pandemic began
Source: Eater - 🏆 368. / 59 Read more »

Don't spend $1,500 on baby bassinet, and other new parent money-saving lessonsThe cost of raising a child can reach over $200,000 and it starts the day a baby is born. New parents need to know the ways to save and spend wisely.
Source: CNBC - 🏆 12. / 72 Read more »

How these 3 millennials making over $100,000 budget and spend their moneyMaking over six figures is an important benchmark for many Americans. Here's a budget breakdown of three millennials who earn over $100,000 per year. MakeIt
Source: CNBC - 🏆 12. / 72 Read more »

These 3 millennials earn over $100,000—here's how they spend their moneyBukola Ayodele, Roy Patterson and Brieonna Johnson live in different cities and work in different industries — and all earn over $100,000 a year.
Source: CNBC - 🏆 12. / 72 Read more »