They are not currencies, and the crypto part is there only to make it sound like they can be hidden. (crypto = hidden, in Greek.).
You are not going to be able to hide money from the government with bitcoin. It is a payment system. Some businesses accept it as money. There is no FDIC insurance on it.
It is an investment as long as most people think it is, and they keep buying it, jacking up the price.
It can all disappear in a flash, and you will have no recourse. Don’t expect the government to track down the source of the loss.
People who have been dealing with these crytographic currencies understand all of that.
Except, the name. You clearly do not understand where the name comes from. Your assumption is humorous.
And if you rely on the FDIC to take care of your “investments” you are going to be really really disappointed if this next crash is worse than the last one.
Where do you think the FDIC is going to get the “money” to cover the losses? Does it appear out of thin air?
Crypto refers to PKI, or signing with a private key. When you own a CC you own a private key with value alloted to the corresponding public key (converted to an address). Nothing is hidden, and you say, they are not hidden from the government.