Some say cryptocurrency is the future of money, and the technology it's built on is destined to revolutionise the internet and the society. Others see it as one big fraud. Whatever the truth, it's impossible to escape the hype which creates the value because there is no real underlying value.
I believe cryptocurrencies are just one big Ponzi scheme. They have no underlying intrinsic value other than what people believe they are worth. And the main reason that people invest in cryptocurrency is because they believe that there's a greater fool out there than them.
"Despite claims of 'decentralization', the cryptocurrency industry is controlled by a powerful cartel of wealthy figures" who pump and dump. Before you get dumped, watch this ABC Four Corner's clip.
