Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James,
I'm hoping you can explain why crypto seems to be becoming more and more mainstream as an "investment" class. As far as I can see you can't buy and sell physical goods or services with it (apart from on the dark web) and it doesn't actually produce a product that can be sold. To me it looks more like a gambling product that's relying on the Greater Fool Theory for its "value".
Carl B
Hi Carl,
We briefly touched on this very issue in Fridays morning report, basically I’m with you, I feel the vast majority of crypto currencies being traded today will end up worthless BUT, some will make it, and I think the premise behind crypto stacks up. Your point about ‘mainstream’ is the key, these sorts of things derive their value through acceptance, the more something is accepted, the more value it will have over time. At some point soon, I suspect more places (other than the dark web) will accept crypto as a form of payment.
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