for her next birthday, the Fed chief picked the former, saying cryptocurrencies are"like a giant garbage dumpster." Kashkari praised the dollar's stability compared to the relatively new crypto sector.
Cryptocurrencies are renowned for their heightened volatility, as their round-the-clock tradability and speculative nature keep prices from remaining stable for even a few minutes. Bitcoin's price swelled nearly tenfold in the second half of 2017, and just as quickly lost value as investors questioned the coin's true value.
"Maybe five years from now or 10 years from now or 20 years from now something useful will emerge from this, but so far, all that's emerging is burning garbage," Kashkari said.
Meanwhile my bitcoin value has doubled 😀
Might be time to buy some.
Warren buffet called them “rat poison squared” a few years ago. Something to think about