Monday, February 19, 2018

Cryptocurrencies: the warning of the creator of the ether :


Vitalik Buterin, the 24-year-old programmer at the origin of the creation of the "ethereum" (one of the most exchanged cryptocurrency after bitcoin), warned Saturday against the "hyper-volatility" of these units of account, "which could fall close to zero at any time".

"Cryptocurrencies are still a new and hyper-volatile asset class and could drop close to zero at any time," the young Russian-born Canadian programmer wrote Saturday, Feb. 17, on his Twitter account. "Do not put more money than you can afford to lose.If you ask how to put your savings, traditional assets are still the safest option."

Cryptocurrency is often associated with bitcoin, the most media-rich crypto-active and whose capitalization weighs the heaviest with 200 billion euros (+ 1.318% in 2017). However, there are currently some 1,400 other virtual currencies, and dozens are created every week, at a rate that thrills many experts and players in finance.

"ALL IT GOES TO FINALLY END"

The warnings, coming from the biggest names in global finance and regulatory authorities, have poured in for weeks on this speculative outbreak. Many insist that you should not "invest money that you can not afford to lose".

"I can say with almost certainty that all this will end badly," said Warren Buffett in January, considered "the oracle of the markets". "We have none, we do not bet on their decline, we will never invest" in these cryptocurrencies, he had said. The South Korean government triggered a market storm by announcing that Seoul was preparing to ban cryptographic currency trading platforms, before backtracking.

The ether price has gone from less than $ 13 a year ago to over $ 900 today. Vitalik Buterin's personal fortune is estimated at more than $ 400 million by Forbes magazine. "I am skeptical that people involved in cryptocurrency are better people than people involved in the banking system," he also said recently.
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