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Friday, June 18, 2021

We are all crypto people now

All the while, true believers and 12-year-old digital currency industry veterans say that the underlying technology is real and transformative and ultimately – finally! – Ready to do nothing less than the global financial system and the Internet as we know it.

Everyone is getting rich or selling a token or predicting a revolution. Digital currencies are volatile, risky and prone to bubbles; Countless forts have already been built and lost. In some cases, many people are already using blockchain – the underlying technology of cryptocurrency – without realizing it or understanding how, in fact, they work.

“The bitcoin frenzy is not a fad,” Daniel Ives, an equity analyst at Wesbush Securities, wrote in a recent note to clients, “but rather the beginning of a new era on the digital currency front.”

At the very least, cryptocurrency is at the very least, now seen as a good place to park some cash. Everybody has read the stories of teenage crypto millionaires – or the pizza that was bought with bitcoin which will now be worth millions of rupees. Service No To join, in crypto-speak, is “fun to be poor.” In other words: Now we are all cryptocurrencies. Solution

With our index funds and 401 (k) idle, predictably, responsibly upside down, it’s hard to sit down, while an art-world outsider named Beepel sells the NXT of a digital collage for $ 69 million. For many, news of this transaction raised a simple question: Why not me?

Mark Greenberg, a photographer, thought of it in March when he auctioned the first unpublished portrait of Andy Warhol to NXT in 1985. The bids were seen to climb to $ 100,000, then were dropped. He could not do much work in the epidemic and this money could help with his daughter’s upcoming wedding and the house she bought. But then he started worrying.

His sales reward was stored in a digital account that only he had access to. What if that 69-year-old, with some health issues, died suddenly?

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