I saw the above Natural News video that is talking about issue of most cryptocurrencies currently being very low in value. I disagree with most of what the video is saying however, because people who recently lost money should have realized the risk of what they are investing in, and they should have known how to guard against the dangers of periods of time when it falls in value. It is a sad situation when people lose money while investing in cryptocurrency, but ultimately it is their fault.
It doesn’t matter that “the coins are not backed by anything of intrinsic value” as the video says, people simply need to realize that fact and invest and make use of the currency accordingly. Also Dogecoin never pretended to be anything other than a “memecoin,” but its value at any point in time is genuine because you can exchange it for traditional currency.
Cryptocurrency is not a safe investment if you plan to simply buy it and wait for the price to hopefully rise over a long period of time. You cannot treat it as if it is a stock in a company, which is something that is completely different. You should invest in stocks instead if you want to invest in such manner.
You can still make money with cryptocurrency if you pay attention to what is happening and respond to the market conditions, therefore making use of its volatility. For example if you sell when it starts to go below a certain value you will at least not lose much money, however if you simply do nothing while it sinks in value you will lose your shirt if its value won’t rise again. You can’t go wrong by selling cryptocurrency when its value starts to go down because you can simply buy it again after its value starts to rise once more. Therefore the current hype about it supposedly being “always unsafe” is not accurate unless you are recklessly not paying attention to the market conditions. As long as you truly know what you are doing and you are keeping on top of it, it can be a viable method of investing. (Also I suggest making sure to keep in mind the general trend of what is happening— meaning sell your holdings when it is generally a bear market and start buying again after it is clear that it has become a bull market once again.) And of course there could be no worse idea than using cryptocurrency as a savings account!
As an example, people who were paying attention to what was happening with Elon Musk and Twitter recently could have timed investing in Dogecoin and then sold it after it spiked in value and started to drop again, thus making a large amount of profit in the process. For investors who are knowledgeable and savvy enough to do such a thing, cryptocurrency will always be an effective way to make money.
Be aware that investing in cryptocurrency is very risky though and you must take the time to learn as much as possible before you start to invest in it. If you are not very computer savvy, and not entirely familiar with all the nuts and bolts of how such investing works, you will almost certainly lose your money.
In any event, cryptocurrency is always important for its originally intended purpose even when it dips in value— which is to be an alternative method of making online payments. This is especially important due to the fact that online credit card payment processor companies often don’t allow payments to be made to people who talk about issues that the political Establishment doesn’t want to be known, such as to people who criticize issues with Islam. A recent example of that is MasterCard and the online fund raising platform GoFundMe stopping allowing payments to be made to the peaceful and accurate anti-Islamization activist Robert Spencer, where such blockages are instructed by corrupt Establishment organizations such as The Southern Poverty Law Center that make slanderous accusations of “hate speech” in order to give the political Establishment an excuse to shut people down who are standing up to its corrupt agendas. (Also see this article talking about issues with a similar organization The Anti-Defamation League.)