Did you know that hyper inflation in Venezuela is so crazy that you have to bring a backpack filled with $100 bolivars to buy a $5 lunch. Or, you actually wire the funds before you show up. Hard to believe but true.
Bitcoin is going crazy in Venezuela. I suppose to escape the inflation and government control of the currency the citizens are forced to go crypto.
Bitcoin and other digital currencies are designed to de-centralize commerce and bypass third parties; governments and corporations.
Blockchain is the software that allows cryptocurrencies to be unhinged to governments and other entities that have a stake in controlling commerce.
This technology can allow buying stocks, bonds, etc bypassing normal toll booths like brokerages and banks or even allowing voting without any outside interference. The applications are endless, however, the jury is still out. This is very early…
Bitcoin, etc, might go to zero. I don’t know.
CryptoCurrencies might be the next big thing. I don’t know.
I don’t know enough to render an opinion, however, I am interested enough that I am considering dipping my toe in. I’m not sure which toe yet but I will let you know.
Not yet though…the Chinese government is trying to shut down the crypto exchanges in China so this may present a buying opportunity in the near future.
Moore’s Law is just ripping. That might be an oxymoron. I’ll let you decide. Hold on while I take a photo with my phone while I talk to you on my watch while I ride in a driverless, electric car while I pay for the ride with the “wallet” connected to my cloud…me to Equifax…Hey! You! Get Off of My Cloud.
Likely trade alerts this week. Stay tuned.
Continue to hold all open positions.
Trade Smart,
Don