tl;dr
As traditional paths to upper-middle-class stability are being blocked by debt, exorbitant housing costs and a shaky job market, these investors view cryptocurrency not only as a hedge against another Dow Jones crash, but also as the most rational - and even utopian - means of investing their money.
Investors must have enough familiarity with and trust of the internet to send money through a cryptocurrency exchange, such as Coinbase or Poloniex.
Assuming one's money is protected, there are, of course, the standard risks of investing, amplified by the volatility of cryptocurrency.
https://www.nytimes.com/2017/08/03/style/what-is-cryptocurrency.html
It is an interesting article but why the hell is it in style section!!!?!
Perhaps because Bitcoin is becoming 'style'. A style that is defined by innovation and (decentralised) trust in each other through hard rules set by transparent code as opposed to an undefined club of men in a dark room. Trust in centralised institutions is remarkeably low among youth. They understand the flaws of current organisation of money and are more than happy to do things in a different way.
This style will continue to find more supporters, putting pressure on existing institutions to do better. Perhaps Bitcoin can even become a stable numeraire against which everything else will be measured.
Once the credibility line has been crossed, it will happen quickly. John McAfee is no fool...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @showmemoney! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @showmemoney! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit