We’ve taken a look at a few coins over the last few months, from the infamous and currently disastrous Tezos to the mind blowing EOS, so we felt that it was time to look at one of the World’s most well known coins, the USD coin. Is it a scam or a hot investment?
The US Dollar came into existence somewhere in the 16th century, initially known as the ‘Daler’. In it’s early days it was purely an exchange note for precious metal. Traders got sick and tired of hauling big rocks of gold and silver across the planes of America and decided a promissory note would be a far more intelligent way to trade. Up until as late as 1970 you could exchange your 10 dollar bill for its worth in gold, however those days are gone and now it is worth whatever the economy believes it to be worth at any given time.
The supply of the dollar is infinite and at the last count back in 2013 there were around $10.5 trillion in circulation, which is rather baffling since the US Government currently have around double this amount in outstanding debt. The USD mining operations are performed by those good old boys over at the Federal Reserve, when more money is needed for War and destruction on a grand scale they just power up the machines and start printing.
This USD on demand setup however is naturally a time bomb waiting to happen, like all ponzi schemes eventually those at the top of the pyramid will do a runner with the cash and collapse everything else below.
When it comes to funding criminal activity, look no further than the USD. It has been widely accepted as the choice coin for murder and destruction across the World for decades. The USD has funded more deaths than any other currency before it and after it. If you see a missile heading towards your town or village you can be pretty confident that it was purchased using US Dollars and you can also be certain that the people who launched the missile are being paid in USD.
The USD is every criminals favourite coin, they even put pictures of criminals on the coins and notes!
To Invest Or Not To Invest
Well, the ICO has long gone so any major gains on this coin are a thing of days-gone-by. The USD is a useful coin if you want to invest in a more viable currency such as Bitcoin or Ethereum, so it does have it’s uses – but as far as HODL’ing on to your USD – well, lets just say I think you maybe a little disappointed on the returns.
Whatever you decide to do, always follow the number one rule and never invest more than you can afford to lose.