Beware the Siren Call of Bitcoin, Ethereum, Litecoin, etc

I will tell you this cryptocurrency thing is crazy! Up and down like the most puke inducing roller coaster. Right now, it’s basically gambling you can do from your Smartphone.

For this to last it needs to add value. Will it make transactions and human exchange more efficient and transparent? Who knows? Will it be a store of value like gold?

Most financial experts say it’s stupid and right up there with the notorious Tulip bulbs craze in old holland. It can be hard to resist putting $1,000 into Coinbase, and the following week it says it’s worth $1,600!

My view is be careful and limit exposure. No one really knows where this is going. These “coins” are worth somewhere between $0 and $250,000. Just don’t pay $250,000 for something that someday could be worth $0.

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