Why Buy Crypto? We Already Have Something Better

       For those that know me, you know i'm a long term growth investor. I like investing in companies that i understand, companies that are profitable, have good management and financial statements- I don't like penny stocks, speculation or buying a stock based on hype. To me, that's exactly what crypto currency is. There are no financials to back it up, there is no management, they have no business model and are influenced on just hype and speculation.

      With that being said- why would we do something as crazy as changing the entire global economy and making 195 countries change everything they know about money, and teach nearly 8 billion people something they have no idea about. Plus, 40% of the world doesn't have access to the internet- how would those people use their money? How about people that choose not to use it such as elderly that don't want to adapt to new technology. What about the security aspect of it, who is paying to make sure this stuff is not being stolen, and if it is stolen is it refunded?  What about small mom and pop shops that take cash only, how about small things like a gumball machine or parking meters? Well there may already be a solution out there.

     Apple pay. Apple pay makes it easy to make purchases online or in store with just a tap of the phone. It's fast, it's secure and is backed by one of the largest and innovative companies in the world. They are changing the way we see money, without changing the concept of money. And best of all- you don't have to worry about your money dropping 85% in value over a year span. It is widely accepted by all retailers and can easily be converted to cold hard cash if needed (yes there are still a ton of cash only business')


No comments:

Post a Comment

Reiterating My Bearish Position on Netflix

        The biggest news in the stock market last week was revolved around Disney (DIS) and it's unveiling of Disney +. A video streami...