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I looked into this more, did a little research and talked with my financial advisor for 1 1/2 hours which has led to me now having an opinion. LOL
Opinion: Cryptocurrencies are most excellent for laundering money and moving money around which needs to be untraceable.
As more people use it banking institutions and government will get wise and want their share and want to regulate it.
However it will very likely become the monetary form of the future.
One's in existence now will likely fold into each other or get taken over until only a few remain which will then be heavily regulated.
Investing in them currently has no guarantee or insurance in case of scam, there is no FDIC or other large financial firm to guarantee the invested funds in case the crypto currency form owner decides to run of with our money and buy a private island in international waters.
It's the 'wild west' money form, you may strike gold or you may get shot at High Noon by the OK Corral.
Consider it a Highly Volatile stock with no backing of any type.
Or this is how I know consider it personally :) I am however pretty risk adverse, I'll gamble but only if the odds are in my favor.
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