▶ WHY BIX TOKEN WORTH 20$ - AND ALSO IS THE BEST CRYPTO EXCHANGE TOKEN 📈
Hi peeps ! 😀 I Just talked with Big Investors about Exchange Token. Bibox are very VERY interesting right now ! No doubt Exchange token are still undervalued and became the new hype for the following months ! So Ride the wave 📈 We talked about Bibox, KuCoin, Binance, Huobi, Bitmax etc... but only Bibox has all the green flags we wanted to fully support and invest big capital ! No worry we love Binance too but we look MarketCap and undervalued exchange token with great potential first 💰 Here all the reasons why we're thinking Bibox will x100 (yes x100) from now the coming weeks/months :
#1 - UNDERVALUED MARKETCAP NOW 🎁
BIX is ranked 113 with $39 283 401 USD Marketcap (#5 top Exchange)
KCS is ranked 56 with $119 962 621 USD Marketcap (#62 top Exchange)
HT is ranked 55 with $120 296 699 USD Marketcap (#13 top Exchange)
BNB is ranked 7 with $2 377 528 149 USD Marketcap (#1 top Exchange)
So as you can see, BIX has more way to grow than any of its exchange tokens competitors like KuCoin and Huobi. Bibox is a top 5 Exchange with the #1 EOS volume on exchanges. More BNB marketcap will grow, More BIX will grow more too ! that's near x100 BIX price GUYS !
#2 - BIX HAS LOT OF UTILITIES ✅
With BIX you can vote to list new tokens on Bibox !
With BIX you can lock them to have weekly dividend rewards (~20% ROI and more)
With BIX you can have Airdrops (rare but it's on the Whitepaper)
With BIX you can have DISCOUNT FEES on trading
( With BIX you could even participate to futur IEO ) not official yet
( New utilities for the futur Bibox DEX ) not official yet
#3 - BIX BUY-BACK & BURN 🔥
One of the best way to increase BIX value for the long term ! Bibox is buying-back and burning BIX token each 3 months !! That's insane ! We saw Bibox burned ~1,500,000 BIX every 3 months with their profits !
Less circulating supply with time = value increasing 📈 You can't lose with BIX !
#4 - NEW BIX LOCK FUNCTION 2019 🤑
With the new BIX lock function you didn't have to trade once a week now ! All is automatic ! You lock BIX (min 500BIX) and that's all, you'll receive dividend each Fridays ! 💰 You can calculate/estimate your dividend reward with the last stats from the Bibox community holders ! Here the telegram link : https://t.me/biboxhodlers
It's very easy to setup and you have automatic PASSIVE INCOME. We love the UX/UI design ! Very clear and clean ! PERFECT !
#5 - BIX DIVIDEND REWARD ROI 📈
To be honnest we are well surprised to see here a better ROI than any POS coin (NEO, VET, ONT, etc...) and even Masternode !
According to our results BIX Dividend ROI in 2018 was ~27,89%, ROI in 2019 until now is ~14,53% !!! Let me clear, this is a HUGE ROI ! For exemple NEO is ~5%, VET is ~2/3%, ONT ~7% !
We all agree BIX ROI will skyrocket the coming months too because Bibox will have more profit to share with his BIX hodlers ! If BTC pump, Bibox will have way more profit to share than now.
#6 - BIX WHALES & COMMUNITY 🤖
Like I said previously Bibox hodlers created a BIX Hodlers telegram with many BIG investors here. Community is still new so it's easy to talk with them to know more about BIX and their reviews. All answered me BIX will be 20$, they constantly buy-back BIX and lock them with their Dividend rewards like Bibox is doing ! Seems very healthy and all now the run just started 👌
#7 - ARIES WANG - Bibox CEO 💪
The new CZ like Bibox hodlers call him ! He's more active on Twitter these times and show a great support behind Bibox ! Keep an eye on him, his name will be more present, no doubt ! He made a long & great interview for WORLD STREET - SMC capital :https://www.youtube.com/watch?v=ZQzqdjtoIPg
He's speaking English very well and know how is the crypto market with his experience. Very helpfull to make partnerships with the entire world !
#8 - BIBOX IS MORE RATED THAN BINANCE, BITTREX, KRAKEN, KUCOIN, ETC... ✋
It means more & more people will be interested in Bibox ! "Why Bibox is better than Binance ?"
With that, Influencers & Youtubers are now promoting the new Hidden Gem : BIX. Last days we saw for exemple CryptoLark (86K followers on youtube) talked about bibox like one of the best passive income : https://www.youtube.com/watch?v=GlYxC_7SSAc&t=
#9 - SAVE YOUR HEALTH ! SAVE YOUR TIME ! SAVE YOUR MONEY ! ☕
You will not have to FOMO or PANIC SELL anymore with headhache - Just Invest & lock BIX for the rest of your life that's all you need !
Dividend rewards are paid each Fridays with strong liquidity altcoins like (USDT, ETH, EOS). It's a very good point and rewards don't depend from the BIX market ! So Whales won't dump their rewards on BIX each friday, but they will buy & lock more BIX with their ETH/EOS/USDT weekly rewards 👏
If BTC price is hardly pumping (BTC rally) and alts are dumping, No worry your dividend will increase too 🔥
Save your time, your BIX are working for you all the week ! Buy BIX is like buying more employees for your business 😁
BIX is a token exchange so no worry about some delisting like the others cryptos because Bibox own it !
#10 - BIBOX IS LISTENING BIX HODLERS 👂
Some BIX hodlers asked the BIX lock feature on Telegram to reward hodlers. One week after Bibox released the BIX lock function ! Same with perpetual contracts feature !
Thanks for reading my post, don't hesitate to join the official Bibox Telegram and the Bibox Hodler group to know more about the project and ask some questions, we will be here to help you 💪 Gz to all of you who read this post & enjoy the ride 🌕 Official Bibox Telegram :https://t.me/biboxglobal Bibox Hodler Group :https://t.me/biboxhodlers
Hello! My name is Kristina Semenova, I am the Head of Investors Relation Department at Platinum, the world’s number one business facilitator. Our team knows how to start ICO/STO in 2019! Why are we so sure? Well, our experience speaks for itself: Platinum.fund But what is the difference between ico and sto? What is the cornerstone of ICO marketing strategy? You will know this after finishing the UBAI courses! Here’s just a quick preview of our Short Course lesson. Real World Examples Multinational accounting firm Ernst and Young found that $400 million of the $3.7 billion USD raised from ICOs (as of January 22, 2018) had been stolen. That is, up to 10% of all ICO funding is virtually being stolen from investors. Though ICO scams are the most common method of theft in the crypto world, some projects will actually operate for a period of time before disappearing with the money. Like in a Ponzi scheme, an exit scam may be planned for later, sometime after a manipulated pump; or some other time the team believes is most opportune to take the money and run. Giza: Giza marketed itself as a platform within which different cryptocurrencies could be stored securely. But after raising $2.4 million in one month, the team deleted the website and stopped replying to emails. Investors were duped by a very convincing whitepaper, and actors had been hired to appear in photographs promoting the project. No investor funds have ever been recovered. Centra: The SEC put an end to fundraising for the Centra ICO and charged the founders Robert Farkas and Sohrab Sharma with orchestrating a fraudulent ICO after they raised $32 million USD. They were promoting the ability to develop financial products backed by VISA and Mastercard, though it was later found that neither partnership was real. One of the major red flags in the Centra project was the use of celebrity endorsements for publicity, reportedly paying champion boxer Floyd Mayweather a significant sum to promote their project. Who wants to leave their Blockchain investment decisions up to Floyd Mayweather, regardless of his unbelievable skill as a boxer and regardless of his own financial success? He should still not influence where you invest your money! Ponzi Schemes: Bitconnect: This is the most infamous Ponzi scheme in the history of cryptocurrency, and certainly the most damaging. Bitconnect was a Bitcoin-based project that rose to an all-time high of $463 per token on the back of a fictitious trading bot. The Bitconnect scam operated by paying dividends to users, proportional to the number of tokens they held and the number of referrals they made. The BCC tokens were exchanged for the users’ Bitcoin, and the highly sophisticated and wildly successful trading bot would trade BTC for them and distribute profits as dividends. The value of the dividends offered was approximately 1% of the initial investment per day. In other words, that is approximately 3,780% per year in cumulative gain! The referral system was capitalized upon most heavily by many of the biggest crypto YouTube channels, including CryptoNick and Trevon James, both of whom are now under investigation by the Federal Bureau of Investigation. Shortly after the Bitconnect Token reached its all-time high, they received cease and desist orders from the security regulators of Texas and North Carolina, which caused the owners of the Bitconnect exchange to shut down operations, and the price to plummet. Davorcoin: Davorcoin was a lending platform very similar to Bitconnect. And Davorcoin was farcically promoted by the same Trevon James crypto Youtuber who promoted Bitconnect, and is currently under investigation by the FBI for promoting Ponzi schemes. The Texas State Securities Board, in likening Davor to Bitconnect, stated that “DavorCoin is telling investors they can earn lucrative profits by investing in a lending program based on a new cryptocurrency known as davorcoin. Investors allegedly purchase davorcoin and then lend it to DavorCoin”. Davorcoin promptly plunged from an all-time high of $180 to very close to zero after a cease and desist order was made against them on the 2nd of February 2018. Useless Ethereum Token: Despite brazenly stating in the name of the project that the token has no use, the UET managed to raise $340,000 in its crowdsale, and saw a significant pump of over 300% on the HitBTC exchange in February of 2018. The scam was an obvious case of pump and dump, with the total trading volume for UET crashing back down to as low as $3 per day, after reaching as high as $350,000 per day during the pump. It is currently an unfortunate consequence of the decentralized nature of cryptocurrency, but there is a distinct lack of recourse for scammed investors. It is wise to become as well-acquainted with the various indicators of good and bad ICOs as you possibly can. In weighing the factors that will allow you to avoid expensive mistakes, ask yourself in whose favor are the terms of the ICO slanted, yours or the teams? To what extent are you actually likely to profit from this investment? Cryptocurrency is inherently a grey area, whether you are investing in it or not. Investing is another inherently grey area, no matter what the area or object of investing might be. Laws and regulations are not always able to keep up. Trying to define and prove what was or was not a scam is not likely to be as simple as the scammed investor would want it to be. A project can be set up in certain ways to avoid being technically classified or provable as a scam, but the unprepared investor can still be burnt or scammed just as badly. Now we look at more individual indicators that can help you form a valid impression whether or not an ICO or even a fully-fledged exchange-listed coin is a scam or a bona fide investment opportunity. Common Signposts Contrasting Scam & Legitimate Projects Presale Bonus/Token Release If the ICO allots massive bonuses to team members, you may leave yourself open to getting dumped on by presale investors if you buy when the project tokens are listed on an exchange. Likewise, if the project has a short lock-up period for developers and founders, you run the risk of them selling as soon as the token is listed on a major exchange. The token release schedule for the founders of a worthwhile project should show long-term team commitment to that project. The Jibrel Network team tokens will be locked up for 5 years before release, and they had no early investor bonus in the main sale. Both of these factors instilled confidence in the JNT ICO investors, and the tokens were sold out weeks before the ICO was due to end. No Presale lock up If Presale investor tokens are not locked up at all for any period after listing, that could easily be a set up for an exit scam after the initial listing. No presale lockup for early investor tokens is a crystal clear warning, the project may be fatally rigged toward those in the inner circle, with little commitment to the long term health or success of that project. Unsolicited Offers or Unasked for Additions to Groups Characters running scam projects will often add you to Telegram groups out of the blue or send you unsolicited emails with information about their project. Telegram is the most widely used messaging app in the cryptocurrency community and you should familiarize yourself with it to keep yourself in the loop for specific projects in which you invest as well as all kinds of other relevant crypto info. You can adjust the settings on the Telegram app to disallow anonymous additions to cryptocurrency projects if you find yourself bombarded with offers by scammers. Reputable projects at the ICO stage will spread by word of mouth, or by eloquent and meaningful articles posted on their Medium page. A project with serious potential does not need to actively seek participants for their ICO like that. They will often be able to fill their ICO hard cap in a matter of hours, or even just minutes! Anonymous Team Alarm bells, again, immediately, if the project has minimal online presence. The individual team members could be mere fabrications. The entire project could be a farce by utterly inexperienced characters. What if the project leaders are simply unaware of the importance of a strong social media profile? That in itself would be too strange to ignore. Top-level projects will have team members with experience in crypto and the LinkedIn accounts for those members will be easily accessible right there on the project website. You should be able to easily see and evaluate each individual’s experience in their field and ascertain what they bring to the project team. Bitconnect’s anonymous team should have been the only deterrent prospective investors needed to discourage them from putting money into that doomed project. Ethhorse, a current project with anonymous founders and operators should be steered clear of at all costs for the same reasons. Community Atmosphere The subreddits or Telegram groups of scam projects will often feature moderators that do not allow any kind of criticism in the group chat. If, in the process of your due diligence, you encounter didactic admins that only wish to silence your questioning of certain aspects of the whitepaper or mechanism of the tokenomics , you should be concerned. Similarly if you see a coherent critical reply attacked by many different users who refuse to engage the substance of the point being made, that may be a subreddit infested with bots. Projects that have nothing to hide will allow free debate in the chat. Ideally, they hope to develop a positive community that is itself an asset to the long-term success and overall strength of the project. Good projects do not need to automatically brand all criticism as Fear Uncertainty and Doubt (FUD). Whitepaper One common tactic of scammers is to produce a whitepaper that uses too many buzzwords, and deliberately obfuscates and overcomplicates the explanation of the problem and/or its solution. A good whitepaper clearly and concisely lays out the problem and answer, as well as provides compelling arguments why a Blockchain solution is preferable to the current solution. Another point of concern is a whitepaper that gives unrealistic time frames and goals. Bitconnect’s almost comically optimistic profit projections are a prime example of this, as are the 1,354% yearly gains promised by Plexcoin. Respectable projects will set out development timescales in terms of quarters or years, rather than offering immediate profit projections, which are simply a red flag. Advisors/Connections in the Cryptoworld The most prestigious projects will already have partnerships made before the ICO stage, and the worst ones, i.e. the scams, will not mention any such partnerships. Icon (ICX) for example was spawned from a South Korean project named The Loop, a collaboration between 3 Korean universities and the DAYLIFinancial Group. They boasted an advisory panel consisting of the legendary investor Don Tapscott, Jehan Chu and crowdfunding expert Jason Best. On top of a solid team of advisors, good projects will also be visible at major Blockchain events such as the Consensus, and the World Blockchain Forum, etc. Scam projects will be unable to inspire this same level in confidence. As an investor, you should sense a certain presence and expect a certain feeling of trust that should guide you in your investments. After all, it is actually a people-to-people thing you are doing. Key Stress points upon the Timeline to Identify Scam Projects Post Whitepaper Release The period in the immediate aftermath of the release of the whitepaper can also be decisive in establishing the validity of a project. How a team copes with the roadmap that they have laid out for themselves is key. Valuable insight into the operational efficiency and commitment to the project can be gleaned from the quality of and amount of code committed to GitHub. If you have any experience in computer programming you can see how clean and orderly the code is, which gives insight into the skill of the developers, and in turn the quality of project leaders’ decision-making in hiring team members. Scam projects will have little or no code committed to GitHub, or at best it will be copied and pasted from other projects just to cover their tracks. Start of ICO Sometimes, a scam project, or other project in which you would be better off not investing, will change the terms of the ICO just before the ICO starts. The Key (TKY) ICO doubled the price of tokens on the day before the ICO was due to take place, because the price of NEO had risen so drastically. Currently, the TKY token price is still only half of its ICO price. Initial investors are faced with the prospect of a 50% loss on their investment. Exchange Listing Some particularly greedy scammers will create a scam project with the intent of selling tokens in the ICO for BTC and ETH, and then pumping and dumping their share of the tokens immediately after listing. The team of fraudsters behind Monero Gold used this method after the crowdfunding of their useless ERC-20 token. After listing on CoinExchange.io, the team dumped their tokens until the exchange finally ceased trading. Although it is not uncommon for ICO tokens to sold after listing (just like can happen with shares of stock after an IPO), if the price does not stabilize and massive sell walls are continually placed, a scam is likely taking place and the token is being dumped. Fake Ethereum Twitter giveaway You may have noticed Ethereum creator Vitalik Buterin’s twitter handle has been changed to Vitalik “Not giving away Eth” Buterin in recent months. This is because a group of devious scammers had created fake accounts with almost exact replicas of his profile (deviating by only one character). The fake accounts promised to deposit 1 whole ETH for every 0.1 ETH the potential sucker deposited into the wallet address provided by the scammer. These fake account “Ether giveaway” scam tweets were set up to be sent in just a matter of seconds after the real person tweeted, and usually always appear immediately after the tweet of the real public figure. Fake bot profiles then came into play, thanking the fake Vitalik, or fake Elon Musk, for holding up their end of the bargain and depositing the ETH as promised. One scammer, or group of scammers, managed to fill a wallet up with almost $20 thousand worth of ETH, which they transferred out, never to be seen or heard from again. Effect of Scam Customers, Upon the Affected Parties Of course, this is no fun for the targeted public figure either. They need to take steps to avoid being targeted again. This will mean changing their handle, their username, or making their accounts private. However, the injured party with whom we are most concerned is the unfortunate scammed social media user, who has no chance whatsoever of getting his or her funds back, ever. It is a harsh lesson to learn. But it is a fact of crypto reality. Nearly every one that trades crypto will at least be exposed to frauds or scams in one way or another. In this case, we think it is better to learn about scams by studying them, rather than learn from your own unfortunate and expensive experience. In the case of Mr. Buterin, these incidents were awful public relations for the Ethereum project. It had only been a few years since cryptocurrency as a whole was primarily associated with criminality and seedy transactions on the Darkweb. Any connection with unscrupulous behavior is best avoided at all costs. Negative associations could have been particularly damaging for Ethereum’s brand because the vast majority of ICO fraud is committed using the ERC-20 token as the template for the scam tokens. Any and all the scamming or fraudulent behavior in the cryptocurrency ecosystem is bound to have a negative impact on the speed at which mainstream uptake finally takes place. Cryptocurrencies, as an emerging asset class, will be painted in the worst possible light. Crypto is aiming to, and is in fact in the process of, causing great disruption in traditional centralized finance and business. Mainstream media organizations are also part of that traditional centralized economy. Press coverage will be damning. Something is happening here, but Mr. Jones doesn’t know what it is. Legal Recourse for Scams We clearly understand, there is a possibility of being scammed. We know the scams are happening. The SEC has made some arrests and actually charged people for operating fraudulent ICOs. But it is a struggle to deal with the flood of ICOs coming from anywhere at any time. The SEC filed charges against two founders of a purported financial services startup for orchestrating a fraudulent ICO that raised more than $32million from thousands of investors. As you know from the ICOs we have covered so far, the lack of regulation allows for direct contact and dealing between the entrepreneurs, business owners and potential investors. While we believe this is a blessing according to the founding principles of Bitcoin and other alternate Cryptocurrencies, because it frees us from traditional roadblocks, middle-men, and all kinds of time-consuming procedures; it also leaves investors in a place where there is often little to no hope of ever recovering funds lost in fraudulent schemes. Actions after a Successful ICO Good post-ICO practice is characterized by stringent security, well thought-out legal strategy and clear communication. Many projects have paid the price in damage to their reputation for failing to adequately guard customer information, leaving themselves open to phishing attacks by fraudsters. Investors in the Enigma project had half a million dollars stolen from them; and a whopping $8.4 million was defrauded from investors in Veritaseum via phishing attacks. After a successful token distribution, the team’s main focus is initially on switching the enterprise from one primarily focused on fundraising, to superficially at least, a fully-fledged, functioning business. This involves removing most of the token sale-related content from their main webpage, sending newsletters to all successful ICO participants, and sending refunds to those who may have missed the deadline or the hardcap. Then, with the stressful and complicated fundraising stage finally concluded, a portion of the funds raised can be assigned to fuel the growth of the project community. This can involve hiring community managers, forum admins, and social media managers to outsource the job of keeping investors in the loop. The founders can focus on growth strategy and product development. The cultivation of a thriving and energetic community is extremely important. The community will give you free marketing for your product and your business. Community members who believe in the project, and are engaged by professional moderators, can give you very effective promotion to other prospective investors. Communication with community members is a great way to test ideas and gauge sentiment related to various aspects of your project. The project leads must set aside adequate funds for lawyers. The project will need to address potential future or imminent problems with regulators, at the very least. The transition from fundraising project to full-fledged business can be incredibly challenging, and even more stressful than the ICO itself. The main thing to remember is that your pre-sale and ICO investors are not just silent investors waiting for a return. They are the early adopters of your solution, of your product; they are the community and promoters of your project; and they are the individuals with a vested interest in the financial success of your venture. The ICO environment is not as heavily regulated, so quarterly and/or semi-annual reporting is not required the way it is in the traditional world. That means your own style of effective communication about the progress and key developments on your project matters even more. In the ICO world, you communicate with your press releases, social media, and Medium posts. You also communicate by the very nature of your relations with your exchange, and relationships with your cornerstone investors. Effective communication and good business relationships can play a prominent role in the success or failure of your venture (by token liquidity and valuation). If your investors start to lose interest, and stop trading your token on the exchange, liquidity will dry up and cause increasingly volatile price swings. You need to keep certain things in mind, and follow effective practices to maintain a happy and motivated community. Social Media & Medium In addition to your website, your social media & Medium blog most likely formed a significant part of your ICO preparations. Your purpose pivots after the ICO from one of promotion to one of communication. Consistent, informative and material Medium blogs, also Facebook and Twitter updates, ensure that investors remain engaged and well-informed of what the company is up to. Frequent activity in this space makes investors feel much more comfortable. You can foster a kind of organic community expansion that is consistently advertising your project to potential new members. Cornerstone Investors & Exchanges As we mentioned, your relationship with investors in the ICO world is different from that of the traditional silent IPO minority equity partners. Consistent, Transparent & Honest communication is incredibly important here. Even if an ICO is struggling to overcome a problem or whatever issues are occurring, honest communication from the team is key to business survival. You should think of and treat your exchange like a business partner too, a very important one at that. Exchanges provide liquidity for you and your investors. That liquidity is like the blood for your business. Many top exchanges demand nothing less than absolute honesty and integrity, it is imperative to maintain strong and comfortable relationships with exchanges. Everything we have said so far, also applies to your Telegram channel and forums too. These give you another great opportunity to build a thriving community. Team members and investors can enjoy lively debates in their Telegram channels. This can be constructive discussion, or critical commentary too. But it is always valuable as a direct link between the team and the community. It is always good to know how people are feeling and what they expect from you and your project. You are able to use your Telegram channel and forums to consistently adapt your marketing and communication strategy. Keep your investors as happy and comfortable as possible, and you will be more likely to attract new investors and allocations. Other forums around the internet operate more or less in the same manner as Telegram. After a successful funding round with the hardcap reached and time to spare, legal counsel has been secured, and the community is flourishing, the team will prepare for their first listing by paying the exchange fee and waiting for the announcement by the exchange. Unless they are willing to pay exorbitant fees for an immediate listing on Binance for example, teams will usually settle for an initial listing on a second-tier exchange. The fee charged by an exchange depends on many different factors that we will cover in more detail in the next section. ICO Company actions after a Successful ICO Real World Case Study The Basic Attention Token (BAT) project, when used in conjunction with the Brave Browser, allows users to pay micro-fees in BAT to their most-used sites. The idea was conceived by Brendan Eich, the inventor of Javascipt and former CEO of Mozilla Firefox. Investors absolutely pounced on it at ICO and the project raised an amazing $35million in under 30 seconds. The BAT/Brave project has delivered on time on nearly all of its targets, helped in no small part by having a working product, the Brave Browser, for over a year before the token launch. The project secured a listing on the premier exchange, Binance, in November 2017. A project can suffer through a disappointing funding phase and, for example, fail to reach 75% of its hardcap. The team will be only partially funded. Though they may be able to initiate the project, the value proposition of the token has been compromised, potentially forever. The market has spoken. There is limited faith in the team’s ability to complete or carry out their project. Failure to reach a hardcap is a serious obstacle on the project road map. This will mean massive revisions to the timescales for development and listing. Such a project may have to be content listing on decentralized exchanges for a period of time and they will lose any post-ICO hype that could have helped the project price to “moon” early on. There is less money to be allocated. Each section of the business will be underfunded compared to the original plan. There can be delays in code development, exchange listing, marketing and community development as well. Calling the Tezos ICO a disappointment might seem strange considering they raised over $232million. But this open-source, smart contracts fintech platform became a victim of its own success post-ICO by devolving into multiple class-action lawsuits between the founders and its foundation chairman. They suffered from a distinct lack of clearly defined roles and expectations on key positions. There was infighting at the boardroom level. This all caused an as yet unresolved delay in listing and development. This is also one example why a capped ICO can be more desirable for investors than an uncapped ICO. If the team have a set amount of capital to work with, an amount that isn’t absolutely ridiculous, like in the case of Tezos, perhaps the resultant greed and discord is less likely. Although it may not be so easy for speculative investors to make a profit from an uncapped ICO with such a massive initial market cap, it is a very impressive feat of fundraising nonetheless. Tezos’s post ICO market cap of $232million is already 64th of all projects, and would have to perform brilliantly on listing to maintain this position. Company actions after a Failed ICO Failed ICOs can mean either fundraising initiatives that have failed to reach the softcap and will therefore not be economically viable, or fraudulent projects whose sole intention was to steal from investors and do an exit scam. We’ve already covered scams and fraud projects in detail, but what happens when an ICO just fails to raise the requisite funds? Projects that are legitimate, with honest founders and developers, refund the ETH or BTC deposited by investors as quickly as possible if the softcap is not reached. The same process that is followed by ICOs that are oversubscribed is employed by those that have failed to raise enough capital. The process of returning funds back to the sender ideally should take a period of days, but more likely will take a few weeks. The Sappy Network, advised by Dan Tapscott, failed to come anywhere near to their funding goals. They are currently in the process of sending all investor funds back to the wallets from which they came. The statement from the founders read as a textbook example of how you should react to failure with the founder stating “In the spirit of transparency and honesty, we are sharing with the community that we did not reach the soft cap, and thus we will be honoring our terms and conditions and returning the Ethers to all contributors” Exchange Listing A bottleneck developed in the ICO market after the explosion of crypto prices in 2017. There was a massive increase of ICO teams on all stages along the pathway from start-up to fully listed crypto asset. Certainly, a huge part of the value proposition for both the token and the project depends on securing a listing on an exchange. It is precisely the liquidity of the token as a valuable asset on a free market exchange, that determines or even defines its value. The liquidity is what makes tokens attractive to investors, but that liquidity simply does not exist without a platform for the exchange. Unfortunately for new projects, the balance of power is heavily weighted in favor of large centralized exchanges that can pick and choose which tokens to list, and the timescale within which listing will occur. Each large exchange has its own list of pros and cons as well as its own specific procedure for coin/token listing. They also have their own particular ethos regarding the type of projects they prefer to list. ERC-20 tokens will be available for trade immediately on decentralized exchanges (IDEX Forkdelta) but those platforms are generally quite low volume, and certainly not a long term solution. Projects must often pay huge fees to be listed on the larger centralized exchanges. At first those fees will be prohibitive. The usual route is to initially list on a more reasonably priced smaller exchange like Kucoin or Gate.io. Listing Process Major centralized exchanges have the power to list anything they want, and they also each have a unique structure that projects must adhere to if they wish to be listed. Each potential new listing will undergo a rigorous examination by the exchange operators to test the feasibility for listing the token. An exchange will likely have forms available on its website that you can fill out to give them all the necessary initial information. If a particular project and token qualify for listing, the team will invariably be put under a NDA, Non-Disclosure Agreement, to avoid any insider trading or other regulatory problem s. In the case of larger exchanges like Binance, there is a period within which owners of a newly listed coin or token can transfer them to the exchange in preparation for trading. This is a fantastic opportunity for traders to make use of the likely pump that occurs after a new token is listed on a large exchange. It is common to see up to 100% increases on the first day of trading, and a subsequent dump of up to 50% or more can follow. This allows traders holding the coin already, to sell for a good profit, and maybe buy back in at a much lower price too, if they think that is a good idea. Exchange Fees There are no definitive figures available to the public regarding fees that major exchanges charge new projects to list. Binance, Bitfinex, Kraken and Bittrex have all been quoted as saying that they do not charge any fee at all but this is almost definitely untrue. Knowledgeable industry insiders estimate between $500,000 and $1,000,000 USD for listing on a top-tier exchange. (There have been more rumors of 7 figure exchange listing fees since January 2018 too). This figure will vary greatly from project to project. Various factors can affect how an exchange determines the fee for a particular project. These are some of the most important ones: Market Maker Service Required Whether or not the client project requires liquidity services directly from the exchange, or can connect proprietary ones via API, will lead to a huge reduction in listing cost. Type of Token (ERC-20 NEP-5 or DAG) Not all tokens are created equal in the listing process. ERC-20 tokens and BTC based tokens have code architecture that will almost certainly be preferred by the exchange. NEO based tokens (NEP-5) such as Ontology will be far most costly to integrate because separate new wallets have to be built to facilitate NEO transactions. The costs involved in integrating Direct Acyclic Graph projects such as Nano into the exchange structure are even worse. Expected Daily Volume Exchanges derive their profits largely from transaction fees and withdrawal fees. The trading volume a new token is likely to bring in will have a great influence on the computation of the exchange listing fee. Exchange Listing Procedures Evaluation Different exchanges have different rules for new listings. A new project must of course abide by specific rules for that exchange before they are allowed to list there. There are procedures that must generally be followed for the most noteworthy exchanges. You can get a good idea of the hurdles to be overcome before listing can take place. Ongoing relationship with Exchanges Exchanges, usually Huobi or Kucoin, will sometimes make it essential for newly listed tokens to engage in “trading competitions” after listing. Competitions can last between 2 weeks, or a month or more, aiming to increase the trading volume for that token, thereby increasing trading fees collected by the exchange, and giving the project extra publicity too. The whales may have made a nice profit already and be very happy about it; but the project token can still get stuck in a long period of stagnation and a loss of post-ICO hype. Once a coin or token has been successfully registered for trading on a particular exchange, the project must focus on maintaining regulatory compliance and paying things like annual maintenance fees too. Exchanges can investigate and delist coins or tokens to see if they have fallen below a certain standard set by the exchange. The exchange is concerned about such things as: an extended period with an extremely low volume; a team member connection to an exit scam; or other such immoral/illegal behavior. Post ICO Company Evaluation After a presumably successful ICO, the necessary funds have been obtained, and the real business, the real team challenge is now, to bring the project to life as a bona fide disruptive Blockchain endeavor! The core advantage of the ICO method of funding business startups is the lack of regulatory hurdles to navigate with regards to fundraising and fund allocation. The funds that have been raised have, in effect, been freely given to the project leads to do with what they will in a no-strings-attached transaction. Of course, there are still strings attached in that the team are tasked with making that money grow for the investors. But there is no regulatory oversight of the process. The regulatory freedom is a double edge sword. It gives a good team freedom to work however they want; and it also allows for unscrupulous thieves to use the ICO process to defraud investors of their ETH and BTC. Advantages of being Post ICO From Investor Perspective You should have little to fear in terms of fraud from a project in which you have invested, if you have done your due diligence correctly. You can expect the tokens to be distributed, and the exchange listing to take place as expected. And you know your project is totally legitimate. There are different ways to think about your ICO tokens after the crowd sale has concluded. If you are a speculative investor looking for a quick flip, you can gauge the correct moment and sell anytime you like, assuming the ICO has been well-received by the markets. From Team Perspective The post-ICO period is, from the point of view of the team, a period where stress and responsibility for the safety of investor funds is passed, in the form of ICO tokens, from the team to the investors themselves. This responsibility for tokens is replaced with the stress of building the actual company itself, and succeeding in the business as planned. A small portion of the responsibility for the project’s success is also passed on to the exchange that has listed the tokens. This is especially true if market makers have been employed by the team or the exchange to provide liquidity. After the ICO has concluded, all funds are released to the project team immediately, so they can start building their business brand, and tackling each step on the road map right away. The freedom with which startups can operate is one of the main reasons behind the explosion in Blockchain businesses in 2017. With the ICO funds safe, and money being put to work on various areas essential to the growth of the project, and the tokens already distributed to investors, the risk of fraud is greatly diminished. If KYC and Anti-money Laundering procedures have been followed correctly during the ICO phase, the risk of phishing attacks and theft will also be marginal now. At any rate, with tokens safely delivered to all participants, the responsibility has passed from the team to the investor. From Team Perspective The release of all funds and the freedom to allocate them with no supervision, as cited above, is certainly a tremendous advantage empowering the team to fulfil the entire breadth of their vision unimpeded. But it does have its drawbacks. If there is a mistake made in the allocation of funds, or an unforeseen problem arises, there is nowhere to turn to, and no means of generating further money via crowdfunding. The ICO is over; it is finished. The project simply has to work with what it has. Your community can sometimes turn against you when the market is going down. Times like that just add to the already intense pressure of presiding over a startup Blockchain business. Solution: DAICO The DAICO, or Decentralized Autonomous Organization Initial Coin Offering, is a means to integrate a more specific, rigorous and regimented smart contract schedule into the ICO process. Doing so will eliminate fraudulent ICOs, exit scams, pump and dumps, and many of the other disadvantages listed above. The DAICO method, proposed by Ethereum creator, Vitalik Buterin, will merge the core concepts of both an ICO and a DAO to leverage the most relevant features of both, in order to solve the main problems in the ICO method. For example, to eliminate the risk of an exit scam, the release of funds will be spread out over a period of time, with the next allotment only being released when a certain set of parameters are met. Buterin explains that the DAICO method will provide user protection in a manner not present in the current ICO model, ensuring funds are not misspent or used in any way contrary to the intention of investors. In simpler terms the DAICO will operate as follows: The DAICO will start with a smart contract by its executors that can set whether this is to be a capped or uncapped round of fundraising (amongst many other options) as well as including KYC requirements. After these settings have been configured, the DAICO is set into “contribution mode” and presented to the public. This stage will function identically to a normal ICO with ETH exchanged for project tokens. Once the funding period has elapsed, or the hardcap has been met, investors will have the ability to set the “tap” for the collected funds. This will set the amount per second, or amount per minute, that will be available to the executor to develop that specific portion of the project to which those funds have been assigned. If investors believe at any point that the team is misspending funds or otherwise wasting time, etc., the investors have significant options to take. Of course they could choose to release more funds to the team. But, they could also stop the tap altogether, and stop the entire ICO, by voting, and actually release all unused funds back to their own wallets from which the investment had first been made! Learn more on how to market any ICO and STO, get better understanding of security token definition and learn what a scam project is! Follow the link to read the full article: UBAI.co Contact me via Facebook or LinkedIn to know more about our services: LinkedIn Facebook
Don't be a complete idiot with margin trading, and don't be the one holding large quantities of cryptocurrency when it reaches a small fraction of its current valuation. I am gonna go ahead and make a pretty long post giving some advice and things that I have learned before withdrawing all of my funds from GDAX (I have been out for some time now but just holding funds on there for whatever reason) and no longer posting in this subreddit for the foreseeable future. Many of you probably don't know or recognize me as a lot of new members have come around since May, after which I did not post very much. Additionally, I had only started to post in here around February of 2017, maybe even later, so I guess it hasn't been that long in the first place. I'm not hear to brag about predicting the huge bearish market before it happened, as I ended up losing a significant amount of money this week alone. It doesn't matter to me that I was right when I still suffered just as much losses as you guys through an alternative path, it is what it is. I am just here to impart some wisdom onto those of you that are still trading, still holding, still staying involved with cryptocurrency. The last half year has been a very remarkable thing for me - I remember sending a text to a friend of mine to ask him what his thoughts on bitcoin were, after which he replied saying he did not know much about it. I did not either necessarily, but remembered the hype back from the early 2010's about it and for some reason decided to investigate it upon seeing the recent gains it had made. I asked my mom what she thought (I am not so old myself, and thought she could share some of her investment experiences with me) and she told me that if I thought it was a good idea, I should go for it. Fastforward to the BTC ETF day, I sat at my laptop staring at the charts waiting for the eminent SEC decision. I saw BTC, at an all-time high of 1300, suddenly move down to 1280, 1250, 1220.. all of a sudden saw a notification from the slack group I was in stating that the ETF had been denied, hardly believing it at first due to talks of slack notifications being used as scams. One minute later, the price dropped 20% and the exchanges crashed soon after. I noticed that soon after this event, another asset I had looked into but only bought a small amount of at around 11 dollars, Ethereum, actually was doing WELL despite the fears that it too would crash along with BTC after this decision. So I bought in, and the altcoin rise begun. I cannot even begin to express how exciting these times were for me and how much I appreciate the insights, support, and fun from the traders on this subreddit. I could easily go on for hours and hours about this, but I am here to share what I have learned: 1 - When you are making profits, be sure to take gains over time, regardless of how much you believe in your investment. In this subreddit and many others, there are many people who will say not to sell anything because then you may miss out on future gains - what if ETH has a massive bull run tomorrow and you sold today and miss out on that? Who gives a fuck? You miss out on some more money, so what? At least you made some in the first place. We should all be grateful for the profits we have made and take out money from time to time to decrease our risk accordingly. You may miss out on some profits some day but at least you will have more security and won't have to be as concerned about your investments as you will simply have less at stake and have already come out positively. I have seen far too many people who bought low in say the sub-10 values and held through this entire debacle, and have now lost massive sums in unrealized gains because they were too vain to just take some gains and be happy with it. Don't be like them. I'm not saying to sell now necessarily, but when the opportunity strikes, at least take something off the table when it benefits you. 2 - Don't margin trade unless you see the most blatantly obvious price movement ever about to happen and for some reason, others don't see it. Otherwise, stay the fuck away from margin trading. I cannot begin to describe how terrible of a thing margin trading is. In theory, it gives you the opportunity to amass riches from another's fortune, a prospect which will make even the most humble trader foam at the mouth with greed. You can be reasonable and thoughtful all you want, but eventually most traders will at least try this out, and won't quit until they have suffered sizable losses. It seems promising at first but is just flat out stupid unless you are absolutely certain of something. Personally, I shorted ETH at 0.12 while everyone else was laughing at me saying it would go up a lot - I was confident it would go the other way, and I do not regret that decision. Nevertheless, I had to close my margin trade when Poloniex practically scammed me out of tens of thousands of dollars through a glitch in their system which removed large amounts of LTC from my account balance. While that did not work out for me, the trade itself is an example of a good one - again, you should only margin trade when you are EXTREMELY confident in things going a certain direction. If you are new to crypto or have not margin traded before, for fuck's sake do not use this at all, especially with large amounts of money. It's a grade A way to lose everything you had. And even when you have some idea of which direction the market will go, it's best to stay out. I still remember reading about the guy who must have made hundreds of thousands but lost it all to margin trading, trying to short dash which he was confident would go down - in most cases it's simply not worth the risk, especially if you put too much at stake. Lastly, don't margin trade large amounts (and especially, do not make your whole order at once). I know this defeats the purpose of it all, but if you have ever margin traded before you will understand. When you borrow say, 1000 ETH to go long, in order to close your position you must also sell that 1000 ETH at the very end of your trade. That means then when you go long 1000 ETH, you are going to almost instantly be suffering a huge loss in unrealized profits because selling all of that ETH at once would require you to bring the price down a decent amount. Maybe it's just a problem for the wealthier traders, but still it's something to consider. 3 - Do not sell in the face of blatant market manipulation. I will say now, I do not think the recent selloff of cryptocurrency is market manipulation, it is an outcome of an overbought market and people panicking to maintain some of their gains as everything collapses around them. But this is something that applies to all markets and investments. Generally, unless it is the part of an established trend, it is a very bad idea to sell at an local minimum, especially one without reason. I vividly remember a few months ago when I was heavily trading LTC and it went from either high 20's or low 30's to around 20 in a few hours, caused by constant selloffs and massive sell walls being placed at the lowest price possible moment and moment again. In times like that, you just have to keep holding and staying strong. It should be clear to you if you are watching carefully when market manipulation is going on - these people don't try to hide it, they know they won't get caught. Just hold on and wait for the run back up before selling. Now additionally, here is probably the most important thing, especially considering recent events: 4 - Know when to take a loss, and when it is the right time, take it. You make an initial investment because you believe you will profit from it. While there are many who invest in crypto because they believe it is their way of supporting a new system, to fight back against the powers at be, or whatever else, let's face it - most of us just want to make money, and most of us did. The thing is though, you may not be in profits forever. Maybe you will make an investment that has huge gains, maybe you will make one that suffers huge losses. No matter the situation, you need to be proactive with your investments and act accordingly. You may have invested in some other coin as a hedge, or perhaps because you heard somebody on /ethtrader pointing it out as something with strong potential, or which will have a good future, only to find out a few days later that you were the victim of a pump and dump scheme and are left to hold the bags. Maybe you read about Ethereum in the news when it had just passed 200 dollars, and thought you could still get in early on this remarkable investment but are now suffering some losses that you did not expect to suffer, and they are putting your mental health at risk as well as your finances. We can't all make huge gains off our investments, and sometimes things do not work out. Don't be the one on the sinking ship when it happens, regardless of how reluctant you are to admit you made a mistake or what other people around you are saying. Do what is best for you, and remember that no matter what there will always be a next day. As somebody who suffered from depression for a very long time, there will always be a next day. Maybe you lost a shit ton of money today, or yesterday, or you will lose it tomorrow. There will always be an opportunity to improve your life in the days to come. If you are upset, or depressed, or sad, or lost a lot, then I recommend you seek some help and comfort with friends and do not act emotionally on the markets - chances are that this will lead to even greater losses, and just worsen your situation. What I mean to say here is that even if things don't work out your way today, there will always be tomorrow. I am not trying to say that you will suddenly gain back the profits you lost, or anything alike it - don't go mad trying to regain what you once had. Just do your best to cope with the situation, get some help if needed, and take the next day in stride, continue doing your best to create the best future you can for yourself. Most of you were smart enough to learn about and invest in cryptocurrency and have since made recent gains. Appreciate that about yourself, and enjoy the fruits of your labor before they are gone - it may not be today, tomorrow, or the next day, but someday they will be if you stand still and do nothing. Thank you for taking the time to read this post and for all of your time discussing cryptocurrency with me in the past 6 months. I wish you all good fortune and that you enjoy the gains you have made in recent times. -ThisGoldAintFree
Hello! My name is Dmitrii Skripkin, I am the head of traffic department at Platinum, the company that can attract crypto community to your project, provides best ICO and STO marketing services and can be really helpful in teaching about crypto-economics. Learn more: Platinum.fund As for the teaching… Welcome to the UBAI! Here we gathered all our knowledge to share it with people who just step on the road of crypto success. If you want to understand the overall influence hype can have on a team and anyone involved with an ICO project, take a look at the summary of our lesson What is Hype in Cryptocurrency The English Dictionary defines ‘hype’ as extravagant or intensive publicity or promotion. Therefore it is only right that we define cryptocurrency hype as extravagant or intense publicity and promotion for any kind of cryptocurrency. Recent research suggests there is a 60% chance that people around you have encountered the word ‘bitcoin’, or ‘cryptocurrency’ from one source or another. This widespread publicity was also catalyzed by the stunning and sudden rise of the price of bitcoin in 2017 (and other times as well), which led to a frenzy in FOMO, fear of missing out, which drove otherwise skeptical people to eventually believe in cryptocurrencies. From that point, many people started to believe in the idea and potential of cryptocurrencies. This led to even further growth in optimism among members of the cryptocurrency community, which, in turn, drove demand and hype to absolutely atmospheric levels. There is an ongoing argument among financial experts about the nature and destiny of cryptocurrencies. One school of thought is that crypto is, in fact, the next evolution of money. Other people think crypto is nothing but a bubble or fraud and will eventually fade into oblivion. Roles of Hype It is a fact there is hype in the cryptocurrency industry. It is also a fact that investors often trade and hold positions based on that hype. But before speaking about the role and purpose of cryptocurrency hype, let’s take a look at the major causes behind it. Ever increasing media coverage has brought the entire crypto sphere into the limelight. Just the media calling bitcoin “Digital Gold” has coaxed people into buying and hoarding bitcoins for themselves. Increasing groups of cryptocurrency believers have spread the idea that cryptocurrencies are a unique store of value, uncorrelated to other more traditional asset classes. There is also a significant number of individuals who purchased bitcoins before the sudden rise in value and are now hoarding their currency like gold, seemingly unwilling to sell at any price. The money to be made in crypto has attracted a great number of miners. We have previously discussed the key role and value of coin miners to the integrity of the blockchain. These miners help support not only the price and the maturity of bitcoin, but also the blockchain technology on which bitcoin depends. Common ICO Narratives in a nutshell An ICO is a funding mechanism that a company uses primarily to raise early stage capital. So far it has largely been blockchain-based technology solutions which employ “Tokens” (cryptocurrencies or digital assets) that are functionally used in the company’s solution, so as to give them a relative value. These days, there are a large number of companies constantly ‘pre’, ‘on’ or ‘post’ ICO. But the first ever recorded ICO was by Mastercoin in 2013. Their campaign lasted for almost a month, with Mastercoin raising up to 5,000 BTC, then valued at $500,000 USD. A year later, Ethereum was launched. And in 2015, the Frontier, an experimental release of Ethereum platform was released. A month later, Augur Token was launched. Since then, many other ICOs have followed. In 2016 alone, ICO sales raised up to $103 million with ICONOMI and SingularDTV leading the sale with $10 million and $7.5 million. In many ways, ICOs were made possible by the ease with which companies were able to create their ICO tokens on the Ethereum Blockchain technology. With the success of bitcoin and the explosive growth of ICOs for various purposes, the market has shifted solely from the topics of blockchain tech and cryptocurrency solutions, to more specific and practical applications of these solutions to actual real world problems. But at the same time, there has also been a large number of scams as a result of the lack of regulation and insufficient oversight. This is something to always keep in mind when you are considering ICO investments. The Power of Perception People’s perception of an ICO depends upon several key factors. Due to the incredibly large amount of paper wealth generated by investing in cryptocurrency, people are inclined to invest with less stringent diligence, even regarding their own money. That is, for better or worse, generally more true for crypto as opposed to traditional investors. Intelligent investors pay particular attention to the following details when evaluating an ICO: -The quality and marketable potential of the idea. -The necessity of a blockchain solution to solve this particular problem. -The quality and commitment of the team to the company. -The tokenmetrics and tokenomics. -The ability to actually bring the solution to market as a viable business. Signs of Market Hype & Anticipation A solid understanding of the signs of market hype and any resulting hyper-anticipation requires a multifaceted approach to evaluating an ICO. All the circumstances, situations, prevailing market conditions, and other factors contribute in various ways and to various degrees, to each ICO. It is important to also understand why different investors are investing. Some are committing capital because they truly believe in the idea as a viable business and are planning to hold on for a longer term. Some people are pure speculators hoping to multiply their money and take a profit as fast as they can. There is nothing inherently wrong with either one of those approaches or reasons to invest! The point is, you just need to know with whom you are investing so you can make the most advantageous decisions about your own funds. The following are signs of ICO market hype: The Social Media Factor When an ICO is looking to build momentum among potential investors, social media is at the top of the list of ways to do it. Social media allows projects to market their product directly to investors without relying upon middlemen, and in many cases, basically, for free. Professional marketers have also appeared recently to help projects focus on developing their project-specific technology, or business connections; while the regular marketing team is able to continue building the necessary awareness and hype. Many ICO projects seek to build large Telegram communities, and of course, schedule their ICO at the most opportune time. If you are wondering how a project is being perceived by the market and general community, reading their Telegram and social media posts will give you useful information. You will see how they think, and a get a good look at actual market opinion. Hype’s Affect Upon an ICO Over the years, too many crypto lovers invested in hyped and overrated digital assets that promised a 10x ROI (return on investment). This incredibly large rate of return attracted many eager (sometimes a little too gullible) investors. They eventually learned that while the price of ICO tokens may in fact increase 3x or 10x; they can also fall just as much, and just as easily. Many tokens offered as a part of the early ICOs either never went to market, or failed miserably when they did. Of course there are no guarantees in traditional investing either, but crypto is still at a particularly volatile and treacherous stage of growth. Basically, an ICO token price should primarily be driven by business fundamentals, such as cash flow and profitability. But the wild swings in value, and the low barriers to launch an ICO, have grossly amplified the influence hype has upon an ICO token price. Naturally, investors are focused on their own return on investment more than anything else. So, that is where we will focus our attention now too. This return ultimately rests with the token price, and the ability of the investors to buy low and sell high. There are four key attributes or characteristics of hype which directly lead to stronger demand for a token, and thus, a higher price. If the ICO is backed by influential and well-known crypto investors/Venture Capitalists, the team is very likely to have a large investor base to which they can pitch the coin. This is also true for successful entrepreneurs with a good reputation and track record. Hype’s Effect on the Team Behind ICO The team structure behind an ICO plays an important role in the hype process. If an ICO is successful, the developers are likely to draw more attention to themselves, thereby becoming key figures in that success. In that way, an ICO allows a project to both fund an early stage idea, as well as to create a reputation among investors for the individuals involved. After having achieved success on previous ventures, as we have mentioned before, investors will be keen to invest based on an established track record. These factors encourage entrepreneurs to try new ideas as a benefit of having a greater funding profile and a tangible resume to use in all aspects of their business, not just fundraising. A strong resume like that encourages confidence that would allow an individual associated with a successful project to partner with larger, traditional firms. Such an individual would also be more valuable on other projects by both providing insight and access to more investment capital. If you stay tuned, you must have learned a lot about the hype going around crypto, but what are its cons or even Dangers? Bitcoin alone has about a $284 billion USD market capitalization with about 16.4 million bitcoin in circulation. Hype brings out the latent greed in every investor. On any given day, media people may be discussing the endless potential of cryptocurrencies, or the unbelievable returns from crypto investments. While cryptocurrencies have a solid future ahead of them, with strong underlying technological principles, greed and fear will always induce people to create a world of hyperbole. Most investors do not really look as deeply as they should. They do insufficient research, or all too often, almost no research at all, before investing. This is human nature. Most people do not want to feel like they need to do homework again. People also become mesmerized by the success stories, and they just want to get a piece of the pie at whatever cost. It is always important to stay calm and rational. Stay diligent. Keep your mind focused on the long term too, not just the present moment. If you become too enamored with a project, or try to convince yourself nothing matters because “it will all just rise in value anyway” then you have lost your rational decision making ability. You should take a step back and ensure you aren’t being caught up in the hype. Dangers of Hype Part 2 Hype and speculation give value to a newly launched coin. At that point you will own an intangible functional token in a very early stage company. The value of what you actually have is only what an exchange or someone else is willing to give you for that token on the open market. The price might move in your favor and earn you a fantastic return. But it can just as easily fall to zero. And in fact, this is exactly what has often happened. When you purchase a token without an underlying cash flow positive business, your entire investment is at the mercy of market expectations and the level of hype in a project. Future cash flows and success will either make or break your investment. The dangers of hype in cryptocurrency can never be overemphasized, and never be overlooked. After all is said and done, it is the average individual investor who will suffer most. Possible Downside from Exposure and Attention Speculative Investments Most newly launched ICOs depend upon the frenzy created by the primary cryptocurrencies (particularly BTC and ETH) hype for success. Most consumers/investors these days buy or invest in an ICO based upon speculative ideas about extraordinary returns. The hype can grow so much it does not leave adequate room for actual facts. The most unfortunate result of all this can be seeing your entire investment wiped out by unscrupulous characters selling you fraudulent coin offerings (ICOs) and scams. Hype can dazzle investors into making investment decisions they later regret. But there is no reason for you to ever make such an avoidable mistake in your own crypto career. Possible Downside from Exposure and Attention §2 Speculative Investments Continued For example, in January 2017, the Securities and Exchange Commission (SEC) shut down an allegedly fraudulent initial coin offering (ICO) from a company called ‘AriseBank’. The SEC alleged that the ICO was an “outright scam” which falsely advertised and promised FDIC-insured bank accounts to investors through nonexistent banks. The value of the tokens fell to zero. The incredible hype and seemingly limitless potential of cryptocurrencies at the time, as well as this particular idea, led a large number of investors to commit capital to what was determined to be a scam. It is not only that they made grossly fraudulent claims, but there was simply no protection for investors at all. The investors were left with nothing. Some investors were surely all-in on this one project. Some investors had surely leveraged themselves to the max, borrowed too much, and had to stomach an extremely unpalatable loss. These are incredibly important things to keep in mind. Speculative investments will allow you to make a tremendous sum of money, but they can, and all too often will, take away those funds just as easily. Hype can create Problems Real World Examples Only a small fraction of the total ICOs being promoted have a working and viable prototype. Yet, every ICO is looking to sell investors on the likelihood of future success on that project. The Bancor ICO is a real-life example from June 2017. It raised up to $153 million in a matter of hours, but since the sale its value has plunged 38%. Some experts have since found big loopholes in their stated plans and intentions. The demise of many ICO projects is caused by such common issues as no viable product, not adhering to timeline, or a team that is distracted and/or not productive. Other coin scams have also successfully skimmed money from investors as a result of cryptocurrency frenzy. Projects like Benebit which scammed investors of up to $4.5 million by claiming to unify customer loyalty programs via blockchain technology. Benebit proved to be an exit scam, despite all of the major review sites rating the ICO positively. It was widely followed across social media, including 9000 people in its Telegram channel. Many people are still in the project’s Telegram attempting to understand what went wrong, and why. In our previous posts we’ve talked a lot about the cons of the Hype, but have you ever thought if you can take it into your own hands? Managing Hype for ICOs You understand what hype is and what it does. You also need to know, what to do about it, how to manage it, either as a seller or investor aiming to be on the right side of price movements. Crypto is a recognized part of our financial landscape already. ICOs and the Blockchain are here to stay. The point of concern is, the course it will chart from here. It is rapidly becoming the new normal for entrepreneurs to get funding from communities of people or investors sharing an important unifying characteristic or value system. This has, as we have discussed previously, completely revolutionized “business” and the approach to starting, funding and growing a company. In 2017 alone, more than $5.6 billion was invested via ICOs. That huge sum brings real opportunity for growth, and equally real possibility for despair. You can learn from examples, how to manage hype for your own benefit and protection. In the whitepaper, the purpose of the ICO should be clearly stated and sufficient information should be given to investors explaining what the project is and why it deserves to be funded. This helps remove or discourage unnecessary speculation. A good and informative whitepaper helps encourage investors to make decisions based on reasonable conclusions as opposed to dreams and desires. Always Have a Road Map Many ICOs we see on the internet for example, do not really have any long term plan for their product. ICO whitepapers should produce sufficient information on the timeline of the product and the sequence of necessary steps to get there. Questions such as: “When will a marketable product be available to be sold?” “What are the key risks to achieving any goal or aspect of the timeline?” These questions should be explained in the whitepaper, and supplemented with possible plans and alternate avenues to take if certain major issues arise. 6.3e)Managing Hype for ICOs §4 Many whitepapers might tend to overuse technical terms that sound like gibberish to ordinary intelligent people or investors. If you are trying to sell an idea to a broad spectrum of investors, it is important to explain key terms and themes so people are actually able to understand you. If a whitepaper is overly technical, yet seems to appeal to a broad base of investors anyway, it could be a red flag that the investors are confused, and that was perhaps the purpose of the whitepaper. Alternatively, maybe the team just isn’t particularly experienced at marketing their idea. That could also could present either an opportunity or a problem. One way or another, communication with the market will greatly influence the future price of the token. Scam Projects Real World Examples Multinational accounting firm Ernst and Young found that $400 million of the $3.7 billion USD raised from ICOs (as of January 22, 2018) had been stolen. That is, up to 10% of all ICO funding is virtually being stolen from investors. Though ICO scams are the most common method of theft in the crypto world, some projects will actually operate for a period of time before disappearing with the money. Like in a Ponzi scheme, an exit scam may be planned for later, sometime after a manipulated pump; or some other time the team believes is most opportune to take the money and run. Giza: Giza marketed itself as a platform within which different cryptocurrencies could be stored securely. But after raising $2.4 million in one month, the team deleted the website and stopped replying to emails. Investors were duped by a very convincing whitepaper, and actors had been hired to appear in photographs promoting the project. No investor funds have ever been recovered. Centra: The SEC put an end to fundraising for the Centra ICO and charged the founders Robert Farkas and Sohrab Sharma with orchestrating a fraudulent ICO after they raised $32 million USD. They were promoting the ability to develop financial products backed by VISA and Mastercard, though it was later found that neither partnership was real. One of the major red flags in the Centra project was the use of celebrity endorsements for publicity, reportedly paying champion boxer Floyd Mayweather a significant sum to promote their project. Who wants to leave their Blockchain investment decisions up to Floyd Mayweather, regardless of his unbelievable skill as a boxer and regardless of his own financial success? He should still not influence where you invest your money! Ponzi Schemes: Bitconnect: This is the most infamous Ponzi scheme in the history of cryptocurrency, and certainly the most damaging. Bitconnect was a Bitcoin-based project that rose to an all-time high of $463 per token on the back of a fictitious trading bot. The Bitconnect scam operated by paying dividends to users, proportional to the number of tokens they held and the number of referrals they made. The BCC tokens were exchanged for the users’ Bitcoin, and the highly sophisticated and wildly successful trading bot would trade BTC for them and distribute profits as dividends. The value of the dividends offered was approximately 1% of the initial investment per day. In other words, that is approximately 3,780% per year in cumulative gain! The referral system was capitalized upon most heavily by many of the biggest crypto YouTube channels, including CryptoNick and Trevon James, both of whom are now under investigation by the Federal Bureau of Investigation. Shortly after the Bitconnect Token reached its all-time high, they received cease and desist orders from the security regulators of Texas and North Carolina, which caused the owners of the Bitconnect exchange to shut down operations, and the price to plummet. Davorcoin: Davorcoin was a lending platform very similar to Bitconnect. And Davorcoin was farcically promoted by the same Trevon James crypto Youtuber who promoted Bitconnect, and is currently under investigation by the FBI for promoting Ponzi schemes. The Texas State Securities Board, in likening Davor to Bitconnect, stated that “DavorCoin is telling investors they can earn lucrative profits by investing in a lending program based on a new cryptocurrency known as davorcoin. Investors allegedly purchase davorcoin and then lend it to DavorCoin”. Davorcoin promptly plunged from an all-time high of $180 to very close to zero after a cease and desist order was made against them on the 2nd of February 2018. Useless Ethereum Token: Despite brazenly stating in the name of the project that the token has no use, the UET managed to raise $340,000 in its crowdsale, and saw a significant pump of over 300% on the HitBTC exchange in February of 2018. The scam was an obvious case of pump and dump, with the total trading volume for UET crashing back down to as low as $3 per day, after reaching as high as $350,000 per day during the pump. Indications of Scam Projects It is currently an unfortunate consequence of the decentralized nature of cryptocurrency, but there is a distinct lack of recourse for scammed investors. It is wise to become as well-acquainted with the various indicators of good and bad ICOs as you possibly can. In weighing the factors that will allow you to avoid expensive mistakes, ask yourself in whose favor are the terms of the ICO slanted, yours or the teams? To what extent are you actually likely to profit from this investment? Cryptocurrency is inherently a grey area, whether you are investing in it or not. Investing is another inherently grey area, no matter what the area or object of investing might be. Laws and regulations are not always able to keep up. Trying to define and prove what was or was not a scam is not likely to be as simple as the scammed investor would want it to be. A project can be set up in certain ways to avoid being technically classified or provable as a scam, but the unprepared investor can still be burnt or scammed just as badly. Now we look at more individual indicators that can help you form a valid impression whether or not an ICO or even a fully-fledged exchange-listed coin is a scam or a bona fide investment opportunity. Common Signposts Contrasting Scam & Legitimate Projects Presale Bonus/Token Release If the ICO allots massive bonuses to team members, you may leave yourself open to getting dumped on by presale investors if you buy when the project tokens are listed on an exchange. Likewise, if the project has a short lock-up period for developers and founders, you run the risk of them selling as soon as the token is listed on a major exchange. The token release schedule for the founders of a worthwhile project should show long-term team commitment to that project. The Jibrel Network team tokens will be locked up for 5 years before release, and they had no early investor bonus in the main sale. Both of these factors instilled confidence in the JNT ICO investors, and the tokens were sold out weeks before the ICO was due to end. No Presale lock up If Presale investor tokens are not locked up at all for any period after listing, that could easily be a set up for an exit scam after the initial listing. No presale lockup for early investor tokens is a crystal clear warning, the project may be fatally rigged toward those in the inner circle, with little commitment to the long term health or success of that project. Unsolicited Offers or Unasked for Additions to Groups Characters running scam projects will often add you to Telegram groups out of the blue or send you unsolicited emails with information about their project. Telegram is the most widely used messaging app in the cryptocurrency community and you should familiarize yourself with it to keep yourself in the loop for specific projects in which you invest as well as all kinds of other relevant crypto info. You can adjust the settings on the Telegram app to disallow anonymous additions to cryptocurrency projects if you find yourself bombarded with offers by scammers. Reputable projects at the ICO stage will spread by word of mouth, or by eloquent and meaningful articles posted on their Medium page. A project with serious potential does not need to actively seek participants for their ICO like that. They will often be able to fill their ICO hard cap in a matter of hours, or even just minutes! Anonymous Team Alarm bells, again, immediately, if the project has minimal online presence. The individual team members could be mere fabrications. The entire project could be a farce by utterly inexperienced characters. What if the project leaders are simply unaware of the importance of a strong social media profile? That in itself would be too strange to ignore. Top-level projects will have team members with experience in crypto and the LinkedIn accounts for those members will be easily accessible right there on the project website. You should be able to easily see and evaluate each individual’s experience in their field and ascertain what they bring to the project team. Bitconnect’s anonymous team should have been the only deterrent prospective investors needed to discourage them from putting money into that doomed project. Ethhorse, a current project with anonymous founders and operators should be steered clear of at all costs for the same reasons. Community Atmosphere The subreddits or Telegram groups of scam projects will often feature moderators that do not allow any kind of criticism in the group chat. If, in the process of your due diligence, you encounter didactic admins that only wish to silence your questioning of certain aspects of the whitepaper or mechanism of the tokenomics, you should be concerned. Similarly if you see a coherent critical reply attacked by many different users who refuse to engage the substance of the point being made, that may be a subreddit infested with bots. Projects that have nothing to hide will allow free debate in the chat. Ideally, they hope to develop a positive community that is itself an asset to the long-term success and overall strength of the project. Good projects do not need to automatically brand all criticism as Fear Uncertainty and Doubt (FUD). Whitepaper One common tactic of scammers is to produce a whitepaper that uses too many buzzwords, and deliberately obfuscates and overcomplicates the explanation of the problem and/or its solution. A good whitepaper clearly and concisely lays out the problem and answer, as well as provides compelling arguments why a Blockchain solution is preferable to the current solution. Another point of concern is a whitepaper that gives unrealistic time frames and goals. Bitconnect’s almost comically optimistic profit projections are a prime example of this, as are the 1,354% yearly gains promised by Plexcoin. Respectable projects will set out development timescales in terms of quarters or years, rather than offering immediate profit projections, which are simply a red flag. Advisors/Connections in the Cryptoworld The most prestigious projects will already have partnerships made before the ICO stage, and the worst ones, i.e. the scams, will not mention any such partnerships. Icon (ICX) for example was spawned from a South Korean project named The Loop, a collaboration between 3 Korean universities and the DAYLI Financial Group. They boasted an advisory panel consisting of the legendary investor Don Tapscott, Jehan Chu and crowdfunding expert Jason Best. On top of a solid team of advisors, good projects will also be visible at major Blockchain events such as the Consensus, and the World Blockchain Forum, etc. Scam projects will be unable to inspire this same level in confidence. As an investor, you should sense a certain presence and expect a certain feeling of trust that should guide you in your investments. After all, it is actually a people-to-people thing you are doing. Key Stress points upon the Timeline to Identify Scam Projects Post Whitepaper Release The period in the immediate aftermath of the release of the whitepaper can also be decisive in establishing the validity of a project. How a team copes with the roadmap that they have laid out for themselves is key. Valuable insight into the operational efficiency and commitment to the project can be gleaned from the quality of and amount of code committed to GitHub. If you have any experience in computer programming you can see how clean and orderly the code is, which gives insight into the skill of the developers, and in turn the quality of project leaders’ decision-making in hiring team members. Scam projects will have little or no code committed to GitHub, or at best it will be copied and pasted from other projects just to cover their tracks. Start of ICO Sometimes, a scam project, or other project in which you would be better off not investing, will change the terms of the ICO just before the ICO starts. The Key (TKY) ICO doubled the price of tokens on the day before the ICO was due to take place, because the price of NEO had risen so drastically. Currently, the TKY token price is still only half of its ICO price. Initial investors are faced with the prospect of a 50% loss on their investment. Key Stress points upon the Timeline to Identify Scam Projects Exchange Listing Some particularly greedy scammers will create a scam project with the intent of selling tokens in the ICO for BTC and ETH, and then pumping and dumping their share of the tokens immediately after listing. The team of fraudsters behind Monero Gold used this method after the crowdfunding of their useless ERC-20 token. After listing on CoinExchange.io, the team dumped their tokens until the exchange finally ceased trading. Although it is not uncommon for ICO tokens to sold after listing (just like can happen with shares of stock after an IPO), if the price does not stabilize and massive sell walls are continually placed, a scam is likely taking place and the token is being dumped. Real World Example of Scam Customers Fake Ethereum Twitter giveaway You may have noticed Ethereum creator Vitalik Buterin’s twitter handle has been changed to Vitalik “Not giving away Eth” Buterin in recent months. This is because a group of devious scammers had created fake accounts with almost exact replicas of his profile (deviating by only one character). The fake accounts promised to deposit 1 whole ETH for every 0.1 ETH the potential sucker deposited into the wallet address provided by the scammer. These fake account “Ether giveaway” scam tweets were set up to be sent in just a matter of seconds after the real person tweeted, and usually always appear immediately after the tweet of the real public figure. Fake bot profiles then came into play, thanking the fake Vitalik, or fake Elon Musk, for holding up their end of the bargain and depositing the ETH as promised. One scammer, or group of scammers, managed to fill a wallet up with almost $20 thousand worth of ETH, which they transferred out, never to be seen or heard from again. Effect of Scam Customers, Upon the Affected Parties Of course, this is no fun for the targeted public figure either. They need to take steps to avoid being targeted again. This will mean changing their handle, their username, or making their accounts private. However, the injured party with whom we are most concerned is the unfortunate scammed social media user, who has no chance whatsoever of getting his or her funds back, ever. It is a harsh lesson to learn. But it is a fact of crypto reality. Nearly every one that trades crypto will at least be exposed to frauds or scams in one way or another. In this case, we think it is better to learn about scams by studying them, rather than learn from your own unfortunate and expensive experience. In the case of Mr. Buterin, these incidents were awful public relations for the Ethereum project. It had only been a few years since cryptocurrency as a whole was primarily associated with criminality and seedy transactions on the Darkweb. Any connection with unscrupulous behavior is best avoided at all costs. Negative associations could have been particularly damaging for Ethereum’s brand because the vast majority of ICO fraud is committed using the ERC-20 token as the template for the scam tokens. Effect of Scam Customers on the Market Any and all the scamming or fraudulent behavior in the cryptocurrency ecosystem is bound to have a negative impact on the speed at which mainstream uptake finally takes place. Cryptocurrencies, as an emerging asset class, will be painted in the worst possible light. Crypto is aiming to, and is in fact in the process of, causing great disruption in traditional centralized finance and business. Mainstream media organizations are also part of that traditional centralized economy. Press coverage will be damning. Something is happening here, but Mr. Jones doesn’t know what it is. Legal Recourse for Scams We clearly understand, there is a possibility of being scammed. We know the scams are happening. The SEC has made some arrests and actually charged people for operating fraudulent ICOs. But it is a struggle to deal with the flood of ICOs coming from anywhere at any time. The SEC filed charges against two founders of a purported financial services startup for orchestrating a fraudulent ICO that raised more than $32million from thousands of investors. As you know from the ICOs we have covered so far, the lack of regulation allows for direct contact and dealing between the entrepreneurs, business owners and potential investors. While we believe this is a blessing according to the founding principles of Bitcoin and other alternate Cryptocurrencies, because it frees us from traditional roadblocks, middle-men, and all kinds of time-consuming procedures; it also leaves investors in a place where there is often little to no hope of ever recovering funds lost in fraudulent schemes. Facebook
The LTC Pump, Dump and ? A Post-Mortem For Both Bulls And Bears
Our analysis on the recent market activities - http://shitco.in/2015/07/14/the-ltc-pump-dump-and-a-post-mortem-for-both-bulls-and-bears/ Text below (visit the article for images): In our last post, we outlined some of the shenanigans that were occurring in the LTC marketplace (specifically on BFX). A week and a half later, both bulls and bears are in tears, after some of the most extreme volatility the LTC market has seen in years. We don’t expect this volatility to die down any time soon (a gift for traders), but we feel that the community at large should have a more thorough understanding of the underlying fundamentals of the price action that we have been seeing. We have been performing a thorough analysis of the different market forces acting on the LTC (and to a lesser extent BTC) markets over the last few weeks, and are attempting to assemble the pieces so that traders can make an educated decision on what their next trades should be. There is a worrisome element to all of this (outlined in 1, below), and the last thing that the crypto community needs at a time when it is finally going mainstream is more traders/investors to get burned and have disdain for the crypto community because of a malicious actor.
The Chinese LTC ponzi (surprising, eh?)
Pump Team 6
Return of old players
New interest in Crypto/media coverage/Greece = new money
Irrational exuberance and margin trading
Of what we outlined above, we only consider point 1, the ponzi scheme, to be a malicious actor. The others are viewed as forces in the free market. More details on each below:
The Chinese LTC Ponzi – Our friends over at BitMEX published an excellent blog post two days ago outlining the ongoing LTC ponzi scheme in China. This is the address which is being used for the scheme, it has now received over 8.5 million LTC. Bitcoin Magazine goes a bit more in depth on the scheme, and the statements different exchanges have made in response.
An analysis of the wallet address shows that the deposits and withdraws are still increasing dramatically, so the scheme is still ongoing. 687cbd1b-db5c-4645-9074-78eb93461120h/t: @Legion for the data, you can view it for yourself here As stated in the Bitcoin Magazine article, some of the more customer oriented exchanges have taken steps to mitigate any damage from the ponzi, and have reached out to traders/investors to warn them of the unusual trading activity. Huobi posted the attached. While we believe that the LTC ponzi group has contributed partially to the dramatic LTC price and volatility explosion, we believe that the other market forces acting in parallel have amplified both the upward and downward moves of LTC, creating a potentially hazardous trading environment for those who are ill-informed. It is our belief that the LTC ponzi masters are the least sophisticated of the actors involved in the market gyrations.
Pump Team 6 – Starting on May 22, 2015, it started to become clear that LTC was beginning to undergo a somewhat sophisticated crypto pump. The coin had been beaten down during the bear market, and was primed for some upward movement. Subsequent pumps in PPC and NMC seem to exhibit similar characteristics, which may be a coincidence or may be totally unrelated.
The pump team seems to be extremely sophisticated and precise with their actions, utilizing a variety of strategies across multiple exchanges in order to achieve their goals. It is our belief that the primary goal of the pump team is to accumulate BTC, with USD gains coming secondary. Between May 22 and July 9, 2015, we saw the btc price (on bfx) rise from $240, to ~$296. This is a roughly 23% increase. Screen Shot 2015-07-13 at 2.41.00 PMDuring the same time period, LTC saw a substantially more dramatic rise from $1.50 to ~$8.90, a roughly 493% rise. Screen Shot 2015-07-13 at 2.40.38 PMTraders have been talking about the “decoupling” of ltc and btc over the last few weeks, but is it coincidence? Our take is, no. Watching the market action over the last few weeks during the ltc pump, it became clear that an actor was cashing out cheap ltc that they had purchased for btc, with 1k – 5k ask walls on ltc/btc strategically placed the entire way up. Similar size ask walls were chewed through on ltc/usd, providing some small breathers in the bull market. At the same time, iceberg btc asks were being thrown on okc and hidden btc asks on bfx during periods of significant upward ltc price movement. What would the purpose of this be? If the pump team was able to successfully hold down the bitcoin market while pumping ltc, their btc earnings from the pump (via the ltc/btc pair) would be significantly greater than if btc were to pump at a somewhat steady rate during the same time period. One advantage of using leverage and/or futures to suppress the bitcoin market is that a player can have a significant impact with a small number of coins (this is why market manipulation in most markets ie: precious metals, is through futures). As long as the number of coins the pump team was accumulating through their ltc pump and subsequent ltc/btc sells was significantly more than what they were throwing at the market, it would be worth their while to perform this tactic even if their “shorts” were to be margin called later. Around the time of OKC futures settlement last week, the speed of the ltc pump began to die down, and traders started to wonder when it would end. News of the Chinese ponzi was leaking out, and mysteriously, exchanges began to be DDOSed. It was clear that the pump team had made their exit, and margin traders high on hopeium started to sober up to reality, and realize that they were going to be fucked when they couldn’t close their FOMO long in time to escape. As we believe that it was the ultimate goal of Pump Team 6 to acquire as many btc as possible, this is where we believe the second part of their plan came into play. Like we saw with their earlier ltc actions (reserving all swaps then pumping), these guys are experts. It is our belief, that at this time, they begun closing all of their btc “shorts”, while simultaneously pumping btc with the usd that they had earned during the ltc pump. You can see a large number of shorts which were closed at the time. Screen Shot 2015-07-14 at 1.00.38 AMThis generated a large amount of btc buy volume across all exchanges, which coincided with DDOS attacks and the situation we are all too familiar with regarding OKC’s margin calls. Our question is, did someone else realize what the pump team was up to, understand that they may be in a position to incur massive losses, and orchestrate some events in an attempt to mitigate getting rekt? New money is clearing coming into bfx, which has been leading the market as shady Chinese exchanges fade into obscurity. As victims (oops, we mean “traders”) migrate to other platforms, what lengths might actors in the bitcoin eco-system go to in order to attempt to save themselves? These questions may go unanswered for the time being, but as more information leaks in, it is beginning to seem as if some of the tin foil theories might not be too far off.
Return of old players – There has been a recent return of old players to the crypto community. Fontas is a regular on tv, and his return alone has hyped traders up enough to jump on the ltc bandwagon. While we feel that this impact may be minimum, it is important to note because there definitely has been a buzz around buying when he is present. Maybe this is just the newbs that weren’t around for his first rodeo, but either way this element can’t be ignored.
New interest in crypto/media coverage – This one should be obvious. Check out /bitcoin any day and you will see coverage by every major news media outlet. The situation in Greece, possible bail-ins and the msm pushing bitcoin have definitely had an impact on the market place. How much new money is actually flowing in? This is difficult to tell, but we suspect it isn’t a large sum at this time. As the bull market continues, we expect to see more new money flow in, and geo-political/financial events can always have a sudden positive impact in the amount of money flowing into crypto.
Irrational exuberance and margin trading – As with any mania, tears are shed by those left holding bags when we get a 404 buyers not found error. Combine the ease of margin trading in the crypto space with inexperienced traders and you have a recipe for disaster. Many got rekt buying the top, and hopefully will not be turned off to crypto forever from the experience.
So, where do we go from here? What should we expect? The Chinese LTC ponzi doesn’t seem to have slowed down, but we question what their end game is. All ponzi’s must collapse some time, but what is their proposed exit strategy? Were they screwed when everything collapsed? Did they realize that LTC was being pumped at the same time by other actors? The continuation of transactions to their wallet suggests the scheme is ongoing, but the price action in the market place (specifically on exchanges which made statements regarding the ponzi) seems to show that they are struggling with their own scare walls, and less dynamic forces acting on the market. We saw the ltc price continue to dip after the initial shock, suggesting that many traders cut their losses, but how many? Screen Shot 2015-07-14 at 1.23.48 AMWe expect there to be some pretty massive overhead pressure on ltc for the time being, but don’t discount the possibility of a move up as btc continues to gain traction. Our suggestion to new traders is to play the ltc/btc pair, unleveraged for the time being, in order to take advantage of price movement in the market place. For more experienced traders, play the markets as you normally would, but be cautions of the potential forces you may be dealing with. Although we all love making money off of that guy who buys our asks on the ponzi spike, the overall health of the crypto community is more important than making a few dollars. Every trader that is turned off to the space after being absolutely obliterated, is one less player in our daily game of stealing each others money. While we don’t suspect that the pump team planned on this collapsing as hard as it did, we wonder exactly who else knew what was going on? These questions should be answered in the coming days, as more information comes in regarding the “Mouse Group” and how OKC is going to end up settling with their customers. So far, as is clear on Reddit, everyone is getting shafted.
THE BLUEPRINT FOR FIXING AMERICA SOONER RATHER THAN AFTER IT IS TOO LATE
BEFORE going further with this, bear in mind it was a response to the previous post "WHAT IF LIBERTY WAS ATTACHED TO HUMANITY" and perhaps one might read that long list of QUESTIONS FOR HUMANITY before diving into issues on how one might repair our corner of the world...onward... Some people claim we are beyond a "tipping point" of no return. This analysis is commonly applied to global warming to describe the melting permafrost that is releasing methane gas which is believed to be 100 times more potent and lasting than carbon dioxide in causing global warming from the greenhouse effect. Others apply the "tipping point" idea to America's national debt; stating that if we switched from our fiat currency back to a gold standard, we couldn't pay off the interest, let alone our debt, based on current exports and GDP figures. Therefore, we have become a patently bankrupt nation contrary to the principles Thomas Jefferson and others warned us to follow to avoid the use of credit. A bankrupt America in a world of currencies based on a tangible asset like gold or levels of exports would be unable to purchase oil to feed our pathetic industries, let alone our levels of consumer consumption of energy. I managed to get through 2016 without using a drop of petroleum, propane or any other non-renewable source of energy. I studied and invested in solar and wind and it took me more than a decade to select and test the appliances, like a low wattage crock pot placed in an insulated cooler, to learn how to maximize my ability to live on minimal power. Americans don't have a decade to spare. Denmark did it well. They invested in wind and now boast regions with little or no use for petroleum; which is at the heart of both global environmental destruction, loss of rainforests, pollution of rivers, oceans, aquifers and war, which leaves its own lasting toxic landscape, enormous national debt, widespread death, loss of culture, physical and emotional scars. If poor little Denmark can cure its ills, why can't America accelerate our transition to renewables, save a bundle along the way and reduce our desire or need to engage in wars related to acquiring petroleum reserves, or our need to retain a fiat currency required to fund wars, oil purchases, bribe foreign officials and our own elected leaders. If the spigot of free money were removed, would America be as corrupt as it is today, or as destructive worldwide, as we've become? I believe part of the "Blueprint for fixing America" involves ridding ourselves of the patently corrupt, financially inept Federal Reserve and if possible, dismantling the BIS, IMF and World Bank, or at the least, installing a series of common sense policies to both upgrade these systems, regulate their actions through intelligent policies designed by a political body that relies on both public opinion through debates and analysis of performance driven QC metrics. The system of printing treasuries and taxing citizens was born, not from political debate or even a public vote, but by a small corrupt group in Congress and our banking system a century ago. It has failed to produce a healthy, debt free nation; the imperialism it funded has failed to produce a healthy, democratic, environmentally sustainable world, or even a world that views America as a true democracy, rather than the brutish arm of global corporations, and it has failed to produce a stronger middle class in America. Therefore, after 100 years of failures, perhaps it is time to replace the defective financial systems and taxes which fund defective military campaigns and patently defective, if not murderous systems of politics. What will replace "fiat currencies" remains to be seen, though models based on gold, silver and copper seemed to work pretty well before, and future models, such as bitcoin, or credits based on real production of exports, or levels of kwh power from renewables might also prove viable; something, anything, based on a real, tangible asset would be an improvement as it would eliminate the ability of a corrupt banker to simply press a button, create money from thin air, instantly indebting citizens of a nation seen as instant inflation, and then instantly buy their land or bribe their politicians: A person, corporation or group utilizing money for illegal activities would have to actually perform some kind of work to acquire it. Not so the case today. Whether it is to fix our energy policies, our role of the military in global affairs, our rapidly deteriorating environment, rapidly expanding levels of poverty, homelessness or levels of toxins we are exposed to either from the environment or self-ingested through legal and illegal drugs, our rapidly deteriorating mental health, intellectual capacity, shrinking middle class and standard of living; no matter what the policy is in America that needs to be changed, we aren't changing fast enough. We are like a deer caught in the headlights of a speeding automobile. The revelations of just how corrupt and dysfunctional our government, political and economic systems are has only recently been exposed to those who will study and analyze the evidence, and its so shocking they are either paralyzed or ineffective in bringing about effective change. You can't blame them too much. Faced with a new huge problem we really weren't aware of 20 years ago, and now faced with the prospect of trying to educate a sufficient body of Americans to create the change we must, the proponents for change stumble around testing different solutions; and more often than not, they fail. That is expected. Democracy as proposed by our Founding Fathers was the first of its kind and is an experiment. Experiments don't always work as planned; usually they do not. The trick in this democratic experiment is to recover before its too late. Whether or not we are past a tipping point is somewhat irrelevant as long as we don't give up. We must continue to innovate, to remain optimistic that we can and will prevail; and remain dedicated to the idea that our form of democracy can be shaped into a true popular democracy where every voice counts, where corporations cannot sway us from an honorable path, where people in other nations can become proud in their own quest to emulate our experiment in democracy without the need for our military to force our current corrupt brand of democracy on their citizens. That process has only exposed our defects to a wider geographic landscape and hardened the resolve of many citizens against mirroring America's brand of democracy. As that resistance continues to increase, our military will find it increasingly difficult to find willing souls in each nation who will undermine governments; and therefore our military and corrupt corporate agenda will need to employ hired guns to execute agendas; witness ISIS and CIA funding to topple Syria. In the old days it was easy to find citizens within a nation who were eager to bring American ideals to overthrow a brutal dictator. Today, the people of Syria living under a patently defective leader would prefer that brand of freedom to anything an "American Democracy" might represent. Today, the American brand of Democracy, as a valued export for nations to acquire, is worth less than toxic toilet paper. Dumping nuclear waste on a foreign nation would be less harmful and they know it. Its not that the original design of our democracy was either dishonorable, nor was it a bad idea or even poorly designed. In its day it was brilliant and even today it is far superior to the democracy Americans live with daily. We don't have a real voice in the process of electing our President, nor do we have a real voice in the way Congress operates, nor a real voice in the various emerging "secret courts" that increasingly preside over the actions of citizens, nor a real voice in public spending policies that are bankrupting future generations who have even less, if any voice, even faster than they are bankrupting current generations of our young in their 20's, who are far poorer than the older generation who at least had a chance at home ownership and developing a profitable business under some "free", "capitalistic", "market driven" middle class system that is all but gone in America today. What we are witnessing is not only a rapidly shrinking middle class and rapidly expanding population of impoverished, but a rapidly evaporating system of democracy, rapid expansion of our national debt and destruction of the global environment all taking place at the same time. Its an interlocking series of events that are quite telling in their synergistic effect on each other, yet complex enough to defy our ability to manage today's crisis du jure, let alone plan and execute an intelligent series of steps to bring a halt to these grave trends and thereafter, create a thriving, financially solvent, reasonably moral, non-violent America that can again become a shining beacon of Democracy for all the world to emulate without force; rather by simply becoming envious of our prosperity and the success of our middle class. Today, any envy foreigners might hold for American ideals are primarily focused on the celebs, and a level of wealth, few global citizens will ever attain; nor should they try. The lifestyle of the rich and famous is patently unsustainable and not very good for the financial health of a nation or the environment. Wealth in and of itself is no more evil than a car used in a bank robbery. Wealth, when properly applied can build schools, buy solar panels or wind turbines, or create innovative R&D facilities to invent new technologies that can foster new businesses and provide more Yankee exports. On the other hand, wealth applied to bribe politicians, build leaky oil pipelines or systems that pollute groundwater, or simply to buy a $50,000 dress for a Grammy Award ceremony is dangerous, destructive folly. Therefore, part of the path out of this mess needs to be a sense of modesty and reality based on what we've learned in the past 200 years about gross decadence and the ability of large groups of citizens to become easily hypnotized by fabulous levels of wealth most of them will never attain. Perhaps in a class entitled Personal Econ 101 we should both encourage people to develop ideas, invent, market, sell and manage a personal business, and include a section on prudent personal policies on how to manage their new found wealth; race tracks, casinos, bars and brothels are probably not good habits to hold if you expect to build and retain a thriving business, or nurture a reasonably sane, healthy family to carry your business and wealth forward to future generations. Teaching kids in any nation to acquire wealth merely so they can buy a new black beamer is not conducive to creating a sustainable society, sustainable financial policies, a sustainable environment, nor a sustainable government or society. Modesty, education and the prudent application of technology, financial resources, labor and mined or manufactured assets all have their place in creating a sustainable world or fixing what ails America and the world today. It is unfortunate, though easily predictable, that current generations all around the planet have generally lost all hope in obtaining that kind of world. They understand the government corruption; they see through the American Democratic farse and in their minds, if that enlightened nation is but a brutish scam based on corrupt political figures, extortion and murder, what hope does any human have of finding any peace or prosperity in any land? The result is an increasingly predatory nature of our tweens, teens, young adults and even middle aged folks who should know better, but are almost just as selfish and short-sighted as the desensitized generations raised on bloody TV and video games. Murder isn't really so bad as long as you're on the right side of the barrel; its expected in today's world. Get over it. We have become a mentally sick species destined to extinction if we don't change that attitude. We are living in the 6th great extinction and there is no guarantee our species will survive the process; in fact, some historians and anthropologists note there is a group of wealthy elite who are encouraging a mass die off to bring the human population down to 100M to perhaps 1B from the 7B level today. Perhaps we should let them proceed. Perhaps the earth will be better off after that horror show is over; but the really big question then becomes, if that sick group who would wage global genocide and continued environmental destruction to accomplish their agenda is the primary ruling elite after the bloodbath, what sort of future for habitats, let alone our own species, can we expect from that twisted group? Its another global problem staring us, the educated, enlightened 21st Century Human in the face, like headlights in the eyes of a deer; and we just don't have all the answers required to put humanity and the planet, or even our own nation, back on a predictable, moral, ethical, sustainable course. And so life in the 21st Century has become a giant hedonistic free-for-all suicide party; the population of predators and sociopaths is growing at a logarithmic rate, while those who would embrace charitable or democratic ideals are quickly being marginalized, or easily used and abused by those with power and money to do so. I personally believe the only way to halt, then reverse these dire trends is for the few remaining souls with a moral compass to unite and develop an action plan to first fix America. But with so many internal challenges, and personality conflicts even between "good souls"; we have failed to unite, we have failed to even be able to clearly identify people of moral fiber, as the many wolves in sheep's clothing are all around us. Recently I did a cursory audit of a huge, wealthy environmental group aimed at "saving dolphins, oceans and the environment", and found they had neither the wisdom to create prudent policies, nor any real effective activity, save their ability to sell t-shirts and expand their member base and revenue streams; very sad. And so the blueprint to cure America must include QC metrics; how many kids passed a high level math test as a result of your after school, charter school or public school program? How many of them are employed while in college because they clearly understand the student loan program in the U.S. is a patently defective system designed to enslave them? How many understand that trappings of financial slavery and are attempting to live intelligently within their modest means, rather than "...spend money they don't have for things they don't need." (George Carlin). We need to teach our young that the hypnotic glitz and glamour of the celebs and elite is not nearly as nourishing as a camping trip to a pristine forest that we need to keep pristine. We need to teach them that throwing money at an environmental charity is not quite as effective as simply picking up your trash, as well as some extra trash when visiting a beach. We need to teach them that car pooling is both fun and profitable, and we need to teach them that mending clothing to squeeze the last day out of a pair of shorts can be financially more sustainable and even a lot sexier than trying to acquire a $500 leather jacket, or 7 inch plastic pump cowboy boots. We need to find our roots as a blue collar worker, and Ag sector economy, rather than a nation of dog walkers, maids and gardeners serving the wealthy. Unfortunately, the population of families able to make a living in the Ag sector is also vaporizing, due to regs related to GMO seeds and USDA policies that have almost eliminated the ability of small farmers to survive. Meanwhile, our blue collar "MAKE SOMETHING USEFUL" jobs are all being outsourced to overseas sweat shops, as are our innovative White Collar Silicon Valley jobs in a world of a rising population of programmers, leaving only a dwindling white collar sector of financial management jobs (who produce few if any useful, tangible, sustainable products we really need, save a thriving toxic derivative market), and a bunch of dog walkers and real estate agents who only sell what already existed; a bit of dirt with some wood and a splash of new paint - the American Home - which is a center for consumption, doesn't actually produce anything useful, including intelligent, caring, charitable kids with any sort of skill set required to fix our nation, let alone our planet. I know of mothers who are so so so proud their son or daughter is a top notch dance champion, and as a musician, I am proud to be able to play rock, jazz or classical piano pieces, even sometimes at public gigs, but if I didn't make something tangible, useful, sustainable during the bulk of the hours in my week I'd feel useless; I'd just be another consumer instead of someone who manufactures SOMETHING tangible that others can use to both improve their standard of living, and reduce their impact on the environment. Folks who install solar panels do that sort of "honorable, ethical, blue collar work". Granted, they aren't manufacturing something, but at least they are doing some work that leaves a real, tangible asset on a structure that has the immediate effect of reducing America's reliance on petroleum; and that has long-term, positive financial and environmental consequences for the family, community and nation. Turning back to our stellar "Entertainer" kids, or kids studying to become real estate agents, you have to wonder if those grads will be surprised when they wind up as baggers at a grocery store trying to pay down a student loan that will never end, while paying off child support payments for kids they couldn't afford, nor spent time with to educate them on what mistakes to avoid, (nor ever went camping with them to teach them the value of minimalism, or pristine environments), while paying for social programs like Social Security and Obamacare our poor, bankrupt nation that exports almost nothing simply cannot afford. I praise our artists for their studious habits and wonderfully inspiring productions, cutting edge journalism and screen plays that cause us to reflect on ourselves and humanities journey through time; but with an overwhelming onslaught of advertising, high fashion, porn and violence, it might be prudent for every artist to also hold down a "day job", at least part-time, that actually contributed to creating a more financial, environmental and ethically solvent America. Even a part-time daily contribution by every breathing American towards these objectives might help reverse dire trends and create a united population of educated citizens who both care and are doing something constructive to counter-balance our highly destructive, unsustainable way of life today. Parents and schools need to educate kids on balancing selfish, personal agendas with activities that contribute to society in real, tangible production of products and services focused on deploying technologies that move America towards curing our ills before the "tipping point" trends running amuck today topple us over. The "Stockdale Principle" outlined in the book Good To Great embodies some of these ideals; taking a harsh, honest audit of where we are today and then designing effective management plans to get through the horrid state of affairs and emerge victorious through action based on optimism, and not Pollyanna optimism alone, nor on a fatalistic, hedonistic, careless, if not predatory attitude that seems to enshrine American values at every level of our society. A little discipline is a good thing, when balanced with creative abandon to invent something no one has seen before. A champagne party to celebrate a financial victory is probably also a good thing, IF - key word - you actually accomplished something that helps heal the world or provided some relief to your local community, our nation or a wetlands marsh. Drinking champagne every Sunday morning or buying a new pair of 7 inch plastic pumps just because your debit/credit card allowed it, and you think you deserve it after a 60 hour work week, is a rather short-sighted, if not myopic way of life based on endless consumption, that ignores the increasingly pressing problems of your life, your local community and the global village we all share. Perhaps that $10.00 price you paid for that cocktail might have made a difference had you had saved it to buy a PC keyboard for a child without a computer. Perhaps that $49.00 price for those dress shoes you didn't really need would have been better spent on buying a motherboard for a kid who could learn to install that board into a recycled, dented desktop case, then plug in that new keyboard you also bought them, and build their own PC, complete with a recycled monitor that was headed for a landfill and is now part of a child's at-home education system. Perhaps the parent in that home might remind their child with prudent guidance, that WHEN their math homework was done, THEN they can spend a short time playing some video game on that PC, before they move on to complete their history and science homework, and further remind them that if they fail to keep their grades up, that suite of video games can be uninstalled or blocked altogether. Perhaps instead of turning on the TV to gather the family, which only serves to fracture the family after kids begin wanting consumer items they can't afford, so they begin exploring methods of acquiring capital, like drug dealing in alleys, parents would leave the TV off and focus their energy on helping their kids get through those homework assignments, learn a little math, science and history along the way, learn what it means to create a sustainable home, community and financially solvent nation, and clearly learn what happens if we do not. Perhaps if more parents spent more time educating their kids, and got smarter along the way, more American adults would realize just how under water our nation is, and with some hope derived from that education, learn to fix the mess in their own lives one step at a time. Its a tall order and I am not sure Americans are willing to give up their baseball games or detective dramas in exchange for spending several hours each evening exploring socially relevant topics; whether political, scientific, or even charitable. But if American consumers don't modify their behavior and levels of consumption, and their hit list of acquisitions, most of which are unattainable due to our shrinking middle class and utter lack of any export industry able to finance our debt without utilizing our defective, bankrupt, imploding global system of fiat currencies; there is no hope for the generation that follows who will repeat the same mistakes because they don't know any better, or weren't educated soon enough to avoid those same mistakes. The painful truth is that as our society finds it increasingly difficult to acquire these sought after luxuries, and we continue to plunge into the financial abyss and political chaos of a third-world nation, we will have both blown the once-in-a-species democratic experiment, and our own ingenious potential to both cure our nation and help heal the planet torn by the industrial age and environmental destruction that is the legacy of a petroleum age. Petroleum was a blessing and a curse. It allowed a great global brain trust of 7 billion to be created and all the wonderful technology that mass invented, along with 7 billion mouths to feed and feet to shoe, who unfortunately also want 7 billion shiny black beamers we can't afford to build, let alone fuel. Elon Musk of Tesla once said to build 500,000 EV's would require all the lithium the planet can produce. Therefore, we need to invent and deploy another alternative and do so quickly, and while we're at it, utilize simple, affordable, practical technologies and habits like car pooling, mass transit and shopping only for what we really need, while recycling as much as possible, and ensuring our time spent is focused on educating our young so they don't make the same mistakes our generation did. All of these fundamental changes are part of healing America and the planet we all share and whether or not we do it or embrace it, the reality is this Spartan lifestyle IS coming sooner, rather than later, to every community on earth. Get used to it. Get used to the pain of rapid change and a deteriorating social fabric, social services, a rise in unethical, predatory conduct on every front, and a high risk for a rapid implosion and die off of humanity that will be horrific. This IS our future if we do not mend our ways and no amount of technology can save us from wanton, unbridled consumerism, or our universal tendency to ignore harsh realities. A little discipline and practical, effective planning, balanced with our artistic, humanitarian and spiritual agendas is required. So, curing what ails America is a complex idea that won't be completed by simply electing another corrupt official. You can't cure America by electing a new Mayor, Governor, Congressman or President. You won't accomplish it by switching banks or moving to a community sponsored credit union. You won't do it by simply installing solar on your roof and then pouring yourself a glass of champagne to celebrate the money you'll save on your electric bill or patting yourself on the back for reducing your need for petroleum, nor should you put the money you might save by car pooling into a fund for your annual trip to a Vegas casino where you can blow it in a weekend of heated hedonistic abandon. That sort of wreckless behavior might make sense to a 20 something kid who has never dropped five grand on a crap table, but in today's world that population of wealthy empowered young is also evaporating, and for the rest of us, prudence should guide nearly every action on this high wire act of trying to save humanity from itself. One good mistake, or worse, a continued series of imprudent mistakes, is all that is required to blow our last chance to avert the economic storm already at our door. In fact we don't even need to make a mistake; just continue on as we are doing today and there is little hope of any real, effective change for the better anything in the next 100 - 500 years of humanity's journey on this earth. Since much of this transformation must embody fundamental changes in how our federal government operates and the QC metrics that need to be installed to change its underlying principles of operation, bloated budgets, imperialistic campaigns and lack of focus on improving the plight of America's middle class, let alone provide much relief for America's impoverished, I suggest that a huge part of "the cure" involves finding and installing politicians who can "Get 'er done". We haven't seen anything like that anywhere in America for several decades, if not for more than a century. Sure, there are a few rare politicians who actually have a reasonably solvent, financially prudent, moral, ethical, perhaps even legal game plan, but they are quickly overwhelmed and marginalized, frustrated or assassinated, or through some other means, ejected from office; a process which leaves only the corrupt or inept left behind. This begs the question, "Would America's recovery be accelerated if a popular driven vote of no confidence by citizens could quickly remove politician's from office?" I don't mean impeaching a President after a billion dollar televised trial that requires Congress to stop dead in its tracks to handle a process that distracts them from more critical resolutions, rather I mean that if 60%, 70%, 80% or more Americans were polled each month, and were found to absolutely PRESS THE REJECT BUTTON, then the President in the Oval Office bowed out on Friday, the V.P. took the hot seat, we held an impromptu election to replace them from viable candidates, and the same rapid, low-cost process was enacted for Congress, State Governors and Legislators, County Supervisors and our Mayors and any other elected official. Put another way; when 80% of your constituents think you're doing a crappy job, odds are you saw that figure rising and the moment it hit 51% the warning shot was fired over your bow. When it hit 70% you had a hole in your boat and probably should have both modified your course and began polling citizens, civic planners, scientists, artists; hippies, bankers, anyone and everyone, on what you might do to improve your performance, and heal your reputation by delivering real solutions to real problems citizens are faced with every single day. Granted, a rapid change in high level leadership can create chaos; but we already have that today, so there's no big loss there. Granted, Americans can be a fickle group and a popular President today can easily become vilified the moment the food stamp program get slashed, or health insurance rates take a hike. Granted, if our currency goes into a freefall, as many economists predict, and we can't get the oil we need, if we begin experiencing brown outs and black outs like many developing nations endure daily, and if our highways continue to deteriorate just like our system of healthcare, ag and manufacturing sectors, its going to be pretty tough to stay in the Oval Office when such a system of rapid REJECTION is in place. That said, these negative trends are already with us across the board and I don't see either Presidential Candidate really mentally capable of fixing any of them; not one. To assume Hillary will fix things is insane; she's a known felon with absolutely no remorse, and though not convicted in a court of law, every American paying attention knows it. To assume Donald can fix it is to believe a businessman who often bases his profits and retained earnings on bankruptcy laws, and who would alienate a huge Latin American population, gays, women - name the group - is equally insane. Donald might actually be good for America, as he might be able to gut a lot of the bloat in government today, but at the end of the day, would you rather have a surgeon or a wreckless butcher performing your open heart surgery? The answer, I believe, is to enact a series of laws that require a politician at any level to step aside quickly when a massive, popular vote of NO CONFIDENCE appears; whether its a poll taken weekly, then summarized and enacted upon on a monthly or quarterly basis, or whether we simply employ such a law to regulate Congress, quickly removing Legislators who refuse to impeach any President who acquires a massive level of public wrath measured by frequent, regular, popular vote driven surveys managed by a known, impartial, trusted audit team; i.e. your local librarian staff. Perhaps if the libraries around the nation benefited financially from educating our young and at the same time, acting as a central community gathering place for political and charitable action committees, we'd see some improvements. Frank Zappa said "If you want to get laid, go to college. If you want an education, go to a library." and with the emergence of google, wikipedia and thankfully, the retention of libraries in our culture, there's little or no excuse for Americans not to continue obtaining an education, especially during this period of national crisis. With the technology that exists TODAY there's little or no excuse for failing to develop the polls, surveys and rapid voting mechanisms that would provide politicians with a "HOW AM I DOING?" answer, and if a rapid REJECT mechanism was built into every political office, things would probably get better much faster than any other method we could devise. Put another way; a drunk surgeon shows up to do your heart surgery and you happen to wake up just as they have begun cutting you open. You realize that person is patently unqualified to both perform the job ahead, let alone care for your life along the way. No matter how many other expert healthcare professionals might be present, wouldn't you vote to "STOP EVERYTHING. EJECT THIS CLOWN AND BRING IN ANOTHER SOBER, QUALIFIED TEAM LEADER?". Do you really think repairing our fragile, torn, crippled, dying nation is any less critical than your open heart surgery? Do you realize Washington D.C. has one of, if not the highest rate of alcoholism in our country? That's a huge "in-your-face" clue as to why things are as bad as they are in our nation and communities today. We have TV shows like the Apprentice or Survivor where only the best make it to the final episode. As Donald himself knows all too well, substandard performance gets you "FIRED!". There's no big trial; no long expensive paperwork trail. Its done with a smile, perhaps a pat on the back for those good things you were able to accomplish early on, but if you lack the stamina or ingenuity or prudence to continue making progress, guess what? You're done. Get out. Let someone else take the ball and run from wherever we are towards the goal line. Some will argue, and rightly so, that in a nation where the top political leader can be rotated like a pair of shoes, the only real power lies in a military Junta of corrupt, power hungry Generals and those who serve them or are "taken out". Well, if you've intimately studied American politics, that's what we have today anyway. Get a clue. Ike warned us about the Industrial Military Complex, wives of military officers and the officers themselves have come forward and revealed the way things work, so its no big surprise to see Obama swearing he's going to reduce deployment, then not long after he's in office, continue America's occupation in foreign lands. Its no big surprise to see every nation on earth condemn Israel for the situation in Palestine, and then see the U.S. is the only nation to veto resolutions that might force Israel to mend its ways. Its no surprise to see Orthodox Jews making overtures with Iran, while the government of Israel and Hillary threaten to bomb Iran into oblivion. It is no surprise to see rising rosters of homeless in America while we spend trillions fighting wars to acquire oil at a time in human history when we've already proven we can get all the energy we need to run entire nations from wind and solar projects; if we actually built them. And so the question of whether or not a rapid rotation of Presidents or Congressmen, Governors or Mayors might lead to a nation led by military leaders has already been answered; we already are. Perhaps only by putting someone in the Oval Office who understands this problem early on can we expect American streets to look less like battle grounds, and American Cops to look and act less like U.S. troops in Iraq. I may be wrong, but the system in place is patently corrupt, patently defective and completely ineffective. Whatever Democracy and America were SUPPOSED to be 200 plus years later it surely has not become. The solution? Throw the bums out and do it with less fanfare, less budget and less lost time. Hey, we might even make a weekly TV show out of it. Why do we have to wait forever for a State Of The Union address? When a nation is as messed up as we are today, a weekly 15 - 30 minute BOARD MEETING with American Stakeholders - every citizen - seems more appropriate. Like any board meeting, it should cover Old Business; i.e. programs being implemented and their QC Metrics produced by third party citizen bodies, and available online for download and analysis, and New Business, proposals for new programs, budgets, and a selection of innovative ideas that were gathered from the citizens themselves. A true representative of Americans would embrace their people, their ideas, their audits, and actively seek their opinions of their performance in office. A true representative of Americans wouldn't need a LAW to leave office if they knew their performance sucked and an overwhelming majority of Americans wanted them out; they'd just apologize - quickly - and step aside. And so the BLUEPRINT to fix America quickly, if not in time to avoid a complete meltdown, probably includes a rapid REJECT/RE-ELECT process. Its like a Jehovah Witness I know explained, as they are looking for good honest souls; "You have to sift through a lot of mud to find a few flakes of gold." Its a lot like the kids I teach in hard-core neighborhoods; you have A students, B students and F students. Very few kids are C or D students for long in a well run class. They are either encouraged and want to learn, and soon rise to the B or A level, or they are not encouraged or lack the desire and in a well run class they fail within a week or two and are asked to go spend their time in some class, some where, that they actually want to participate in. There is little sense in wasting time trying to teach a kid something they really do not wish to learn. The old saying "You can't teach a Pig to sing; you waste your time and just annoy the Pig." applies. And so the BLUEPRINT also means putting the right students in the right classes, and ensuring ALL STUDENTS understand the value of useful, productive work that requires skills America needs to remain competitive; unfortunately, ballet isn't one of them. If a kid wants to learn to play guitar or piano; great. Let them learn it like I did and study at home after finishing their math and science homework. They'll know it better and learn it faster at les cost than mommy having to spend hundreds or even thousands on piano lessons or instruments for a school marching band. I was also in a marching, orchestra and jazz band and while I have fond memories of it and wish America was so wealthy it could continue to afford these types of electives, those days are long gone. WHEN we have a balanced budget and WHEN we have kids no longer living in cars with their mothers anywhere in America - and I mean ANYWHERE - and WHEN we have cured our nation of our addiction to oil and plastic clothing; WHEN we have enough spare renewable energy to drive desalination plants to irrigate our fields to replace the crops lost due to global warming and ever-widening regions of drought, and WHEN we have desalination plants - 100's if not 1,000's of them - that do not produce dead zones from brine discharge, do not run by burning coal, LNG, petroleum, or require any process that produces nuclear waste; WHEN we have a planet that is not engaged in wars over in ground assets used to drive unsustainable economies and consumer practices, and WHEN we have Judges, Mayors, School Teachers, Governors, Legislators and Presidents all keenly aware that if they screw up a POPULAR VOICE can hand them a Pink Slip in a blink, THEN I will happily support schools with music and painting electives. In the meantime, the basics please; its all we can really afford and any child who really wants to learn to carve wood can take a class online, get a paper route or learn to repair computers in a free class they study online at their local library, then save their pennies to buy their first chisel, paint brush, ballet slippers, guitar or upright piano as the case may be.
[uncensored-r/Bitcoin] BTC vs BCH is Brexit is Trump
The following post by kit_hod_jao is being replicated because the post has been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7d22h2 The original post's content was as follows:
Although it seems crazy to bring politics into the already toxic BTC vs BCH debate, I can't help but notice the parallels. First, a wild-card outsider (BCH/Trump/Nigel Farage) promises to replace the sinister established Cabal (BlockStream "Core" devs / Deep State / EU) with a new system (bigger blocks / America first trade rules / no EU payments & rules) that's better for the little guy (those wanting cheap p2p payments / coal miners and disenfranchised workers who can't afford Obamacare / Fishermen and farmers caught in EU red tape). Second, massive FUD & bot campaign on social networks (TwitteReddit/Facebook) about the existing world order (Blocks are full, txs costly and slow / Hillary will start a war with XYZ / Moslems refugees from Germany will eat your babies). The outsider seems to have widespread grassroots support, but on closer inspection they speak ??????? ???? or are unable to maintain a coherent technical argument, demonstrating they are repeating talking points but have no deeper understanding. Third, complaints of oppression & censorship - the outsider rallies the converts with exposes of how their argument is being systematically suppressed and censored, and if only everyone knew the truth they would join the revolt. Finally, the trap is sprung on the poor dupes who believed the lies: We have the huge BCH pump and dump, which burns anyone who converted (including ME, I'm a foolish weak hodler). We have the republican healthcare debacle. And we have the pending collapse of the UK health system all of which are caused by the forces of the outsider having defeated the established order. In all these examples, the outsider is funded by shady groups of super-wealthy oligarchs (Chinese miners / Russian+Chinese governments, Mercer, Kochs / Russian government, Mercers, Dacre). Ladies and gentlemen, it's taken me nearly a year to recognize it, but this is how wars are fought in the 21st Century. Trust no one, it's the Bitcoin way.
There will be more progress in the next 30 years than ever. Even in the next 10 problems like vision and speech understanding and translation will be very good. Mechanical robot tasks like picking fruit or moving a hospital patient will be solved. Once computers/robots get to a level of capability where seeing and moving is easy for them then they will be used very extensively. One project I am working on with Microsoft is the Personal Agent which will remember everything and help you go back and find things and help you pick what things to pay attention to. The idea that you have to find applications and pick them and they each are trying to tell you what is new is just not the efficient model - the agent will help solve this. It will work across all your devices.
Sewage is a problem. Since it costs money to process it just gets dumped in slums in poor countries. The system the rich world uses of pumping in clean water and pumping it to a processing plant is too expensive. I challenged engineers to create a processor of sewage where the costs could be covered by the energy and water (clean water) that it outputs. We have made progress on that. One team, Janicki, which was written up in Wired, is send a prototype machine to Senegal later this year. Getting rid of sewage helps a lot to reduce disease and improve living conditions.
Bitcoin is an exciting new technology. For our Foundation work we are doing digital currency to help the poor get banking services. We don't use bitcoin specifically for two reasons. One is that the poor shouldn't have a currency whose value goes up and down a lot compared to their local currency. Second is that if a mistake is made in who you pay then you need to be able to reverse it so anonymity wouldn't work.
Overall financial transactions will get cheaper using the work we do and Bitcoin related approaches.
Making sure that it doesn't help terrorists is a challenge for all new technology.
Government aid funding from rich countries to develop new seeds and help the countries educate their farmers and provide credit to them can make a huge difference. Canada does some of this like the United States. We need to raise African productivity by 1.5 to 2x in order for them to avoid malnutrition and be able to lift themselves out of poverty. It is strange a continent with 70% adults as farmers imports food from countries like the US with 2% farmers. Africa spends $50B net buying food today. With productivity improvement they can offset the weather getting worse and feed their children enough to thrive.
It is quite a coincidence but my gift arrived this morning. I got three cool things - a great quilt that a group of people did with a Snoo on it. A great jug of maple syrup and the book The Promise of a Pencil. All very thoughtful. Last year I waited and nothing came.
EDIT 2: Reddit just let me know that I did get a gift last year: a generous donation to Heifer International, a great non-profit that helps fight poverty and hunger around the world. So, thank you SailorKingCobra, my Secret Santa!
There are a lot of great causes. It is important not to be frozen trying to pick since it is important to specialize and really learn the area you are trying to help. We picked health inequity as our global thing and educational inequity as our national thing and most of our projects fit into these areas. Part of the beauty of philanthropy is the diversity of causes and approaches that get tried. It is far more risk oriented than government or private sector spending which makes it special when it is done right.
Polio eradication is a big focus for me. Our last case in Africa was 6 months ago and we are hoping no more show up. It takes over a year to be sure. We still have cases in Afghanistan and Pakistan. Until we get rid of it there it can spread back to other countries. Pakistan is starting to take this seriously including the army and the government. They need to do the same things that were done in Nigeria. The Taliban makes it very difficult. They have killed women going to vaccinate kids many times.
I feel pretty stupid that I don't know any foreign languages. I took Latin and Greek in High School and got A's and I guess it helps my vocabulary but I wish I knew French or Arabic or Chinese. I keep hoping to get time to study one of these - probably French because it is the easiest. I did Duolingo for awhile but didn't keep it up. Mark Zuckerberg amazingly learned Mandarin and did a Q&A with Chinese students - incredible.
We have two dogs. One is Oreo and the other is Nilla. I will say I spend less time with the dogs than the kids do but I really like them (when they are not barking at night and not eating things they are not supposed to and when they are well house trained). I have resisted getting a third dog.
Fortunately as people get healthy they choose to have less kids. We have already had the maximum number of births - that number is starting to go down. We still need to help provide health and contraception in poor countries but all of the global population growth is coming from people living longer. Hans Rosling talks about this in the clearest way at Link to vimeo.com
Technology is not making people less intelligent. If you just look at the complexity people like in Entertainment you can see a big change over my lifetime. Technology is letting people get their questions answered better so they stay more curious. It makes it easier to know a lot of topics which turns out to be pretty important to contribute to solving complex problems.
Vaccines make the top of the list. Being able to grow up healthy is the most basic thing. So many kids get infectious diseases and don't develop mentally and physically. I was in Berlin yesterday helping raise $7.5B for vaccines for kids in poor countries. We barely made it but we did which is so exciting to me!
However the toughest thing is helping teachers learn from the best teachers. There are great teachers and the kids who get them are lucky. We should be able to spread those skills but the current system doesn't do it very well.
Research is very underfunded compared to the ideal. Society captures so much benefit from innovation that inventors don't so there is not enough risk taking. Government (and Foundation) funding of research helps but it still should be more. The United States funds a lot more than any other country even relative to its success. It should do more medical and energy and educational and other research. Politicians often think short term unless the voters tell them to avoid that. Perhaps the most outrageous thing is we have not raised Energy research funding to help solve climate change!
Crypto Callz currently has about 5,729 members, and it's one of dozens of pump-and-dump groups that have set up shop on Telegram, one of the world’s most popular messaging apps. Their goal: to conjure speculative buying frenzies around new digital currencies and cash in on them. These groups are easy to find, mostly free to access, and largely unpoliced by Telegram, which has become the go ... 1- Amazon , Google , facebook and big giants already have BILLIONS in Bitcoin parked and they are reaping the benefits, and will do more in the near future. Bitcoin positive. 2- Pump and dump is a ponzi scheme .. True.. However AI is changing the rules and even if it is still a Ponzi scheme it is a new beast, Just go to this site : “Pump and dump” scams form the core part of stock market thrillers like the Wolf of Wall Street and 2000’s Boiler Room. Jordan Belfort, the real-life inspiration for the Wolf of Wall Street ... In our recent work on cryptocurrency pump and dump schemes (Hamrick et al. 2018), we quantify the scope of these schemes on Discord and Telegram, two widely popular group messaging platforms with ... 10-14 19:47 - 'Telegram BTC pump/dump scam?' (self.Bitcoin) by /u/paulmc0 removed from /r/Bitcoin within 3-13min . submission-bitcoin ''' Can anyone tell me if they know about or are in a telegram group called “B i t c o i n W h a l e s P r i v a t e” and if it is genuine? (I typed it like that so if it is a scam it will be harder for them to find this post and give a false answer) They ...
OMG!!!! BITCOIN PREIS PUMP & DUMP!!!!! WAS JETZT???
U.CASH (UCASH) - Showing all the signs of a pump and dump, this coin is only 24 hours old and already sitting at rank 26. 1 Billion market cap and tons of people online talking about it. I am ... ALTCOINS PUMP & DUMP - Bitcoin Steady - Binance US - XRP on CNN - Ripple Pakistan - BitPay Ethereum Thinking Crypto. Loading... Unsubscribe from Thinking Crypto? Cancel Unsubscribe. Working ... New Crypto livestream location! Bitcoin Pump, Dump, or Short squeeze? Livestream recap ----- Check out my other channels: My other channels and... #Like #Comment #Subscribe #Bitcoin #Crypto #Livestream #DigiByte #Litecoin #Invest #Cardano #Ethereum #Binance #Crypto #Invest #Elastos #Vechain #PundiX #Tron #Ethereum #IOTA #Ripple #XRP #Neblio ... Bitcoin showing very bullish move to our important key level which has rejected Bitcoin plenty of times! Now if the same rejection is taking place then the price correction is imminent!!!! This is ...