With that in mind though, other digital currency forms like Dogecoin and Namecoin who people consider “joke money,” may actually be profitable in the near future. The creator of Dogecoin made the coin so that it gives a wider demographic than just Bitcoin. Dogecoin is always running updates and improving its blockchain system, completely independently of Bitcoin, to implement new features according to the architect behind the coin Ross Nicoll.

As far as getting scammed goes, usually people who have a lot of coins are abusing the use of it. A survey taken in 2015 by MarketsInsider shows Bitcoin users tend to be overwhelmingly white and male, but of varying incomes. The survey suggested that people with the most bitcoins are more likely to be using it for illegal purposes. According to Jason Bloomberg, and IT industry analyst, there are four primary areas of criminal activity lend themselves to cryptocurrency: tax evasion, money laundering, contraband transactions and extortion.

Read the entire article at https://uncagednews.com/6408/feature/cryptocurrency-a-risky-investment/.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to our Cortex & Brain Candy Newsletters!

Thank you for reading Intellyx thought leadership!

Please sign up for our biweekly Cortex and Brain Candy newsletters.

The Cortex features thought leadership on Agile Digital Transformation topics, and Brain Candy highlights disruptive vendors in enterprise IT.

We won't spam you and you can unsubscribe at any time.