They tend to be sceptical about cryptocurrencies in general
Every news report, or newspaper article, I have seen calls cryptocurrency a risky market. Really? Just like penny stocks or the stock market itself isn't risky.
What gets me is how all these news reports and articles quote financial advisors who have NO IDEA how cryptocurrency even works or what it is.
They automatically downplay the future advantages and the monetary risk and call it a bubble. Again.. the credit card, student loan, sublime auto loans and housing market aren't, or have never been, a bubble?
If these news reports would get a cryptocurrency expert to speak and quote then maybe the general public would understand it. BUT the big banks don't want their customers or investors knowing of the positive when it comes to cryptocurrency. SO let's hush it and create this negative view of it.
It's still a pretty new field and far more volatile than the markets they know about. I'll see a story about Bitcoin crashing in the paper, but it will already have recovered by then. Blockchain has great potential, but few of the coins have really justified their price with real applications, so there is an element of bubble to it. The boss of Ripple was richer than Mark Zuckerberg this week, but he can't point to billions of users of his product yet. I find it all fascinating, but don't feel the need to gamble much on it myself.
Agreed, there is much gambling in the crypto-space at the moment. And it will last, like speculation in Fiat will never stop.
The fascinating thing is the blockchain itself and there will be much good things coming out of it. Like , for example, Steemit.
I want to see Steemit meet its potential to change the lives of millions. It can empower those in countries where a few dollars can feed a family or pay the rent.
We should develop Steemit to a point where it can feed europeans too :)
It'll convert to Euros? Great, it'll be worth a lot of pounds! :)
I have not invested a single penny into steemit or steem; or any other cyrptocurrency. Everything in my wallet has been earned; which in all honesty is why I like steem/it so much. It is my hard work, diligence and dedication. If it goes up, I win. If it goes down, I'm upset of course, but I am not actually losing my own money from the bank account.
I bought a little Steem with Bitcoin I made on faucets and things, but the rest has been earned. I have spent some. I wouldn't have my new guitar without Steemit.