Says Who?

“While there are thousands of cryptocurrencies — including the Elon Musk tweet-fueled Dogecoin — Bitcoin and ether account for nearly two-thirds of the entire $2.2 trillion global crypto market.”

Who decides what it’s worth and for how long?   I noticed a question about crypto currency on this year’s tax form, but how is it tracked?   How are publicly-traded companies verifying the value of crypto on their balance sheets? Trillions of bits and doges equal how much in actual dollars out of the old school economy? It seems like a high-tech Ponzi scheme, but it also seems to make as much sense as the legalized gambling operation we call the stock market.

“But Ethereum has enjoyed an even bigger surge than Bitcoin because it is the cryptocurrency of choice for the purchases of many non-fungible tokens, or NFTs — which have taken the art and broader collectibles world by storm.“

NFTs seem more tangible, but as with all collectibles, the market may not always be there.