This only proves that millennials like technology ... but they don't really understand it ... or markets.
China controls over 60% of bitcoin mining. Effectively, they own the bitcoin network and can assume authoritarian control over it at any time they choose to do so.
Also, the crypto "exchanges" are opaque, unregulated black boxes --- nothing like the regulated stock and currency markets. In effect, this makes fraud and manipulation not only easy but likely.
China controls over 60% of bitcoin mining. Effectively, they own the bitcoin network and can assume authoritarian control over it at any time they choose to do so.
Also, the crypto "exchanges" are opaque, unregulated black boxes --- nothing like the regulated stock and currency markets. In effect, this makes fraud and manipulation not only easy but likely.
https://cryptobriefing.com/tether-bitfinex-must-stand-trial-...