The collapse of cryptocurrency exchange FTX amid reports that at least $1 billion in client funds disappeared. Alright, I haven’t ever pontificated on the crypto craze, but this FTX failure is a cautionary tale of buyer beware – at the very least. In this writer’s humble opinion, as with anything else, whatever exists in the digital world is prone to manipulation. Come on, folks – just look at history. Have people learned nothing? During the crash of 1929, how many millionaires took a dive out of their penthouse window from atop a skyscraper because their fortune, which only existed on paper, was wiped out, leaving them penniless? All one has to do is look at the correlation to modern daily life. How many scam-filled emails do you get daily? For any readers that need advice – if it’s digital, it can be hacked, and there’s no shortage of people out there that’re trying to take your stuff. Need an example? On this website alone, not to mention my personal email accounts, I receive an average of a dozen comments a week that aren’t comments at all but spam-filled drivel with links to shady sites just waiting to be clicked on. And while some appear to originate in the United States, most are from Russia or China. What’s the moral? If you’re gonna buy a herd of cattle, you might wanna ride out and take a look at them in the pasture before pulling your wallet out.
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