Is Crypto Currency A Scam? Or Is It Gambling? Both.
Our government should not be involved in crypto. It is too volatile to invest in and has no value. Even if the
US government made a windfall on crypto, if someone wins, someone has to lose. The losers will be businesses,
farms, homeowners, cause foreclosures and the winners will be the ones that read and study the industry and
know when to buy and sell. The already billionaires will be the ones to come out as the winners. They all
have tax exempt foundations to get out of paying taxes and have their own crypto currency. The ones that bought
bitcoin at $1 are the ones that made money. I would pick a popular one that sells for less than a dollar.
There is 3.2 trillion worth of crypto on the market. These crypto currencies add nothing to our economy.
Bill gates' is one of the largest landowners in America. The wealthy buy homes that they never live in. Why because
land and real estate are tax shelters. Instead of using their money to create new businesses or industries
these crypto owners and billionaires are investing in tax shelters. which add nothing to our economy. Protect yourself by
using banks that are not involved in crypto. This is a good time in history to hoard cash. Get a safety deposit box
to keep your assets and don't leave money at home. Crypto has the ability to bankrupt our country if used as a
currency, it could go from $100,000 to $1 in one day and cause incredible loss. Basically, if used as
a currency it would be a scam. It should be considered gambling on a scale from 1 to 10 if you buy low and
sell high you can make a lot of money, but if you buy high and sell low you will lose a lot of money. but that
does not make it legal. Crypto should be regulated just like a gambling web site and share the same rules.
Crypto might eventually have to be banned from being used as a currency. If crypto crashes, the taxpayer
would be bailing out crypto owners or gamblers instead of real business's that manufacturer food products
or building materials and that could bankrupt our government. Congress should pass a bill to ban government
bailouts to crypto owners or their gambling losses. 1 out of 7 Americans are rumored to own crypto.