Correction: This story has been edited and some claims regarding the origins of crypto-currency have been removed from this revised edition.
Crypto-currencies were hit hard this past week with the most well known crypto-currency Bitcoin falling from a peak of over $68,000 per Bitcoin to less than $35,000 per Bitcoin. The fall in Bitcoin spilled over into other less well known crypto-currencies like Ethereum and Doge-coin, as well as varioius “Non-Fungible Tokens”, which are basically like old fashioned “verification of authenticity” certificates that nerdy collectors obsess over, only now the certificate is kept online where most people have no idea how to access it.
Crypto-currency supporters claim they have legitimate uses, but skeptics note that crypto-currencies are strongly favored by the criminal under-world, and are a key component in many drug, weapons and human trafficking operations. Currently, many crypto-currencies are popping up and have the appearance of Ponzi schemes, and could lead to substantial losses for low level retail investors who get caught up in an investing fad.