Wow!😮 just heard a fantastic monetary statement..

Jace said:
on the news..
There are 70,000 new millionaires
due to crypto currency.

Do you 'do' crypto currency?😉
Click to expand...
Sounds to me like the classic bubble that will one day burst. Since it is mostly unearned income, I won't consider that event a calamity unless the actual workers of the world take the hit.

Here are some of the most significant financial bubbles in history:

Tulip Mania (1634–1637): A speculative frenzy in the Netherlands over tulip bulbs, leading to exorbitant prices and a subsequent crash.

South Sea Bubble (1720): A British stock bubble centered around the South Sea Company, which collapsed dramatically.
https://www.bing.com/ck/a?!&&p=091b...dC1lY29ub21pYy1idWJibGVzLWluLWhpc3Rvcnk&ntb=1

Railroad Mania (1845–1847): A period of excessive speculation in railway companies in the UK, resulting in a market crash.
https://www.bing.com/ck/a?!&&p=091b...dC1lY29ub21pYy1idWJibGVzLWluLWhpc3Rvcnk&ntb=1

Dot-com Bubble (1995–2000): A rapid rise and fall in the stock prices of internet-based companies, leading to significant financial losses.
https://www.bing.com/ck/a?!&&p=091b...dC1lY29ub21pYy1idWJibGVzLWluLWhpc3Rvcnk&ntb=1

Housing Market Collapse (2007-2008): A major financial crisis triggered by the bursting of the housing bubble in the United States

These bubbles illustrate the cyclical nature of financial markets and the potential for speculative excess.
 
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Jace said:
Do you 'do' crypto currency?
Click to expand...
Not that I know of, though I suppose I might be invested in something that itself has some crypto. If I'd bought Bitcoin I probably would be one of those people who accidentally threw away the hard drive they had it on!

Now that it can be purchased within a Bitcoin fund at regular investment firms I suppose that would be safest for someone like me. But, I'm not sure I feel confident in something that only has value because of its rarity (though I guess that is why gold is valuable).

My retirement money is invested in companies and in bonds. All of which may crash next year (or not).
 
There is a dark side of course.

Exchanges can "just vanish" without warning—368 have closed since 2014, 161 abruptly.
Cyberattacks are rampant—$3.1B+ was stolen in 2025 alone, with centralized exchanges being prime targets (71% of breaches). The Bybit hack in February 2025 wiped $1.46B due to a private key leak.

This is the nightmare scenario. Exchanges can "just vanish" without warning—368 have closed since 2014, 161 abruptly.
That is crypto's wild side. decentralized promise meets centralized pitfalls.
 
I don't do the currency but I do have a couple of crypto based ETFs....very few shares, but now they are doing well, which makes me wish I had held on to more shares. I'm also very sorry that I didn't buy bitcoin when it was around $1 a coin. At that time, like @KSav I didn't understand the concept nor how it was saved (stored). Also crypto had a very bad rap back then as being currency used by those who were committing crimes.
 
Warrigal said:
Sounds to me like the classic bubble that will one day burst. Since it is mostly unearned income, I won't consider that event a calamity unless the actual workers of the world take the hit.

Here are some of the most significant financial bubbles in history:

Tulip Mania (1634–1637): A speculative frenzy in the Netherlands over tulip bulbs, leading to exorbitant prices and a subsequent crash.

South Sea Bubble (1720): A British stock bubble centered around the South Sea Company, which collapsed dramatically.
https://www.bing.com/ck/a?!&&p=091b...dC1lY29ub21pYy1idWJibGVzLWluLWhpc3Rvcnk&ntb=1

Railroad Mania (1845–1847): A period of excessive speculation in railway companies in the UK, resulting in a market crash.
https://www.bing.com/ck/a?!&&p=091b...dC1lY29ub21pYy1idWJibGVzLWluLWhpc3Rvcnk&ntb=1

Dot-com Bubble (1995–2000): A rapid rise and fall in the stock prices of internet-based companies, leading to significant financial losses.
https://www.bing.com/ck/a?!&&p=091b...dC1lY29ub21pYy1idWJibGVzLWluLWhpc3Rvcnk&ntb=1

Housing Market Collapse (2007-2008): A major financial crisis triggered by the bursting of the housing bubble in the United States

These bubbles illustrate the cyclical nature of financial markets and the potential for speculative excess.
Click to expand...
Don't you wish you were one of 70,000 new millionaires?
 
Just heard an interesting 'statement'...
80%of.people think about being rich...(at.least) once a day!

 
 
Bitcoins came out in 2009. In the early days, no one quite knew what to do with the bitcoin they were mining. On May 18, 2010, Laszlo Hanyecz an early Bitcoin enthusiast tried an experiment and posted a message on the internet offering 10,000 bitcoins for pizza. “I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that,” Hanyecz wrote.Three days later, Hanyecz wondered if he needed to up the price. “So nobody wants to buy me pizza? Is the bitcoin amount I’m offering too low?” he wrote.

But the next day, Hanyecz said he’d successfully traded his bitcoin for pizza. Another bitcoin enthusiast from California had paid for the Papa John’s pizza in exchange for the cryptocurrency, according to a book about bitcoin’s early history, “Digital Gold.” This was the first recorded transaction using cryptocurrency.

Today that pizza would be worth over $1Billion
 

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