Anyone who hasn't been living under a rock for the past year must have heard about cryptocurrencies by now. I won't put any money in them for a few different reasons, one of them being that it has wilder swings than a severely bipolar patient who went off their meds.
Bitcoin is number one and went up some ridiculous amount, 13,000% in a year or something stupid like that. One day it went down $1,000 or more per bitcoin. I don't pay much attention to these things so don't quote me on the amounts.
Second place is Etherium and it's had ups and downs too.
Third place is Ripple. Wednesday morning I saw some news about it online. One of the Ripple co-founders lost 44 BILLION dollars on it in the past 2 weeks.
https://www.cnbc.com/2018/01/17/ripple-co-founder-loses-44-billion-on-paper-during-cryptocurrency-crash.html So, you can make or lose a fortune investing in "currency" that isn't real money, and isn't backed by the government, the majority of the world's banks, or anyone else. You could declare Monopoly money to be acceptable currency and if enough other people agreed with you then you could spend it online and cash it in for real money at ATMs.
Anyone here investing in bitcoin or any of the 1,447 other crptocurrencies? If so, are you a millionaire yet?