Whither Cryptocurrencies?

by Patrick Liew on September 25, 2017

I am deeply concerned about steep rises in prices of major cryptocurrencies such as bitcoin.

While their potential values may seem positive, the prices have risen comparatively higher and not in tandem with many asset-backed financial instruments.

Are cryptocurrencies worth the value?

As it stands, there is still a lack of widespread utility for cryptocurrencies.

There’s also a lack of proper control of their governance and usages.

Are current prices a true reflection of their utility and inherent values?

Securities regulators are watching cryptocurrencies closely.

They can come down hard on cryptocurrencies if they are concerned that social stability is being compromised, especially when cryptocurrencies are being used for illegal vices and money laundering.

What will happen when securities regulators take a hard approach on controlling cryptocurrencies?

The euphoria for buying cryptocurrencies is growing too strongly for comfort from a growing mass of people who have no prior knowledge about cryptocurrencies.

How many of these investors or gamblers in cryptocurrencies know what they are doing?

Are they buying cryptocurrencies based on any logical and reasonable basis?

My fear is that if anything untoward happens, there are little that international financial institutions, central banks, securities regulators, and other authorities can do to mitigate the fallouts.

They may not be able to offer a safety net for the resulting victims.

If you are investing in cryptocurrencies, you may be playing a game of pyramidical musical chair.

Are there dark forces playing up the prices and preying on greedy and ignorant buyers of cryptocurrencies?

When the music stops, can you handle the final outcome?

Asset bubbles have been formed and they have burst in the past.

Are we seeing another bubble forming?

Will such bubbles cause harm and damages again?


I hope this message will find a place in your heart.

By the way, I have also recorded other reflections.

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