Our Two Cents on Crypto Currency

  1. It’s often associated with shady dark web transactions, but that’s not necessarily true. You can’t counterfeit it, so it’s a good exchange medium, theoretically good around the world, but the currency risk remains, since the value fluctuates wildly.
  2. Bitcoin is the major crypto currency, but not every company has transactions in the $35,000 range, so where can you use it?
  3. Even Elon Musk joked on Saturday night live that cryptocurrency seemed to be a ‘hustle’, and if an opinion leader like Musk thinks that, crypto won’t get wide circulation.
  4. Crypto can be moved around without intermediaries, such as credit cards, banks and forex, so it is efficient.
  5. The list of businesses that allow payment in crypto is growing, but so far it’s limited to those who deal in high-priced goods. I can’t see going to my local Ace Hardware or Home Depot to use it for their goods.
  6. We’re not going to opine on the investment potential of crypto, because that’s not the focus of this blog.