Bitcoin and its dangerous environment
I don't know about you, but I am currently getting bombed by promotions to buy and trade Bitcoin and all kind of other coins appearing like bad weeds.
There is a saying: Marketers destroy anything!
Bitcoin and FinTech are next! There is just one name for this SPECULATION!
Even traditional private banks here in Switzerland are launching their Bitcoin investment products and as I found out the canton of Zug is like Mekka for the FinTech industry due to sloppy regulations of the Swiss state.
Are we back in 2007 yet when CDO flooded the markets?
If private banks are launching products, this means, they also sell them to their private and institutional clients, including pension funds.
A new industry driving the stock market to all-time highs
Besides the big issue of immense energy consumption of the actual cryptographic calculations, we are facing a real danger in overvaluing an industry without any real value!
Founders and speculators praise the value of the new tech money for being detached from states. Do you think this kind of anarchy in the financial market is healthy? Our states are built on the foundation of financing themselves through taxes which is the main concept of our capitalistic world.
This is no bad concept and I actually don't see any benefit in the fintech industry to provide an alternative!
Now, this new FinTech industry is getting mixed into the classical market, falsifying the value of any good, currency and commodity.
A crash will not just burn the savings of Bitcoin- and stock owners but also cause unemployment, dead and useless infrastructure and a lot more problems in our economy!
I think it is time for all states to get together and stop this craze sooner than later by hard and strict regulations.
Regulations should be set on the side of the purpose of investments and declaration what can be a currency as well as on the energy consumption side of data centers.
Datacenters should be declaring operations running on their infrastructure.
Bitcoin and more generally the FinTech industry will destroy itself through the hype and investments made at a still overrated value will get lost.