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General News 8/6/2021 at 3:33 PM EDT

Going for Broke in Cryptoland

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From flickr.com: Row of cryptocurrency coins, none of which actually exist IRL.

Row of cryptocurrency coins, none of which actually exist IRL.
(Image by QuoteInspector.com) Details DMCA

The dream of instant riches has been around for as long as money. Only the source of the fortune changes. Gold, tulips and mortgage-backed securities have all taken a turn as the surefire investment vehicle of choice for investors in a hurry.

Now it’s cryptocurrencies. The uninitiated may have the sense that a couple of dozen of them are out there. The actual number is closer to 70,000, according to a site called Token Sniffer. About 100 are created each day.

Some hype coins mint instant millionaires. Others go bust. Why not take a chance?

Read the rest of the story HERE:

At www.nytimes.com

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Scott Baker Social Media Pages:

Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a former blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
http://www.americaisnotbroke.net/

Scott is a former and current President of Common Ground-NY (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of (more...)

Related Topic(s): Bitcoins; Cryptocurrencies; Investors; Money, Add Tags

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"The book is very well written...very important in this individualized capitalistic illusory world that enslaves us all within its tentacles and forces us to believe that we are atomized and disconnected beings. Indigenous Lakota people end prayers with "Mitakuye Oyasin...all my relations..." An ancient African proverb states, "A person is a person only because of and with others..." This instructive text is very useful for us living in what we are always told is the modern world, because it reconnects us all and reminds us that ultimately, the endless circle of the Universe binds and connects us all and the Earth is Mother to us with no hierarchy...the ones at the bottom matter the most...like the ants who build mounds and hills, all working in unison and harmony...the book teaches that we were created for community and our destiny is organic community...anything else is doomed..."

Julian Kunnie, Professor of Religious Studies/Classics at the University of Arizona and author of The Cost of Globalization: Dangers to the Earth and Its People

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