A flight to safety?

Remember all the hype about crypto-currency at the end of last year?

We were skeptical and the first nearly five months into the year things aren’t looking good.

What’s up?

Are crypto-currencies a store of wealth?

Only if you are OK with losing half your net worth in just a few months.

Are crypto-currencies a currency?

Not if you want to pay your rent or buy groceries.

Are crypto-currencies private?

Not any more. If the government gets a whiff you have some and you don’t report it, you have a good chance of getting audited and many exchanges are handing over their customer data to the IRS.

So everything we were promised about crypto-currencies turns out not to be true.