“All Cryptocoins Are Risky At The Moment”

July 16, 2014 in Excerpts, Science/Tech, Urban Studies | Permalink

Edward Castronova, Indiana University telecommunications professor and student of video-game economies and cryptocurrencies, just did an Ask Me Anything at Reddit. One exchange that cuts to the heart of virtual money:

“Question:

If you had $500 to invest in a virtual currency if your choice, which one would it be and why?

Edward Castronova:

I would not invest in any coin at the moment. I don’t like risky investments at all. All cryptocoins are risky at the moment and, from 60,000 feet, they do not show enough signs of better or worse right now. It’s like social network software in 2005. Would you bet on MySpace, Friendster, or Orkutt? It turned out that Facebook was the winner.”

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