Wow, a whole 2 TRX. Where do I send my info.
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
Actually the amount is unlimited also free is free,I someone were giving away 2 ethereum right now would you take it?Think about it,eth was worth about the same when it came outWow, a whole 2 TRX. Where do I send my info.
ETH has a supply of 100mil coins, TRX has a supply of 65 billion. To put that into perspective XRP has a supply of 39 billion and is the currently sitting at $.60 3rd on the market cap list. TRX is already #9 on the list has a higher trade volume than ETH. I would take massive volume to make the price worth it. Even in my wildest dreams which would be TRX hitting a few dollars, that still isn't much. Now if they were giving out 500 TRX like the initially didn't I'd be all over it.
Man ,i havent been followin tron much ,you have a valid point.Fuck it Ill still take the free coins
Yeah, the airdrop stuff can be lucrative though. There groups that just track airdrops and make money that way.
You should check out Corl,the first legal security token,easy airdrop,they are using the polymath protocol and working closly with tzero,poly gave away 500 tokens that was over 500 bucks at one point and will likely be $5000 soon.
https://corl.io/airdrop
We need more of this...free money!
Yeah, man. Looks like another buying opportunity on the horizon. Really hoping Ripple takes off. Any good buys out there?
Rsihunter.com
Generally speaking, anything 30 or less is oversold, anything 70 or more is over bought.
I like iotex, it's on idex and kucoin.
do what you want with your money, but i found this article about iotex very interesting.
https://hackernoon.com/finding-hone...ultimate-iot-blockchain-solution-205c5e9c5697
So I’ve been in this game for a minute, was in position to make a mil, blew it and I am patiently waiting for the next chance to repeat. With that said, trust me on this, there are a few keywords to look for when investing in a coin right now. They are:
Atomic Swaps
Side Chains (check for IOTX)
Cross Chain
Multi Chain
DYOR fo sho but go get it mane millions are coming
so is atomic swaps gonna kill all that know your customer bullshit?
looks like the shit of the future and folks could get to trading without worryin about the fuckin greedy irs tryin to fuckin nickle and dime them on every gotdam trade....
good info Im gonna research all that shit...
tks
I haven't been in it that long. I've only been in it some September '17. Even then it took me awhile to wrap my head around all of it. there have been lessons learned for sure. thanks for the heads up.
Think of it this way: we are moving from fiat currency to blockchain currency. Who is the king of the blockchain? BTC, ETH, XRP...if anybody tells you they know, they are full of SHIT. What we all know but overlook is society has to get on the fucking blockchain before any of that shit is settled. The intermediate coins that allow society to make the transition will be the short term (1-2 years) winners and they will do this with cross chain, atomic swaps. If anyone disagrees I would love to hear why...
On the real side, if the market doesn't go on a run soon, shit don't look too good. This ain't 2017. A lot of factors to think about. Crytpo was the talk at family tables last holiday season. Well, the last 5 months probably crushed all those new entries. They like,
"fuck this shit!" As each new supposed bullrun trigger comes and goes, more and more folks lose confidence. Just check the communities online.Other things to consider. Blockchain does not mean crypto adoption. If you been following the NBA playoffs, you've seen IBM commercials for its blockchain. That's just the start. If a run is to occur, it better be before televisions are flooded with big corporations talking about their own blockchains. Some folks in the game were already aware of private blockchains, but the combination of governments trying to crush crypto and private blockchains being ready isn't good for crypto. Especially when you see projects just hyped off speculation of partnerships and use-cases.
Speaking of use, if it were about that, why isn't steemit top five? Tron is fucking top 10 and doesn't have a mainnet. If that doesn't let anyone know it's all about hype and speculation, something's wrong. And if hype and speculation are killed at the same time, how can the market truly bounce back?
Governments are hellbent on killing speculation. Folks have to kid themselves into thinking regulation is a good thing. Think 2017 is going to happen with governments snooping around? I'm on record around here saying that 2018 was going to be the last year to make a 2017(and before) type killing. My main reasons were private blockchains and governments. Well, it turns out they might not even let 2018 get it.
Still money to be made. Just a lot harder now. Have to know when to pivot. As someone mentioned, people are milking the airdrop game. Catching dips and selling on the bullrun fakeouts. Offering services to those trying to get into the game.
Happy I got in during the wild, wild west days.
And June is an important ass month for crypto. Governments trying to crush the game before it even makes it to atomic swaps.
Folks talking that
'regulation is a good thing' going to see just how good it is when fiat exit points want their trade history even for punk ass $500 withdrawals. So even if DEX or atomic swaps are used, governments going to catch cats at the door. Shit ain't FUD either. Governments raiding exchanges. Looking for wash trading and price manipulation. Putting the screws to them.
As I said above, blockchain doesn't mean crypto adoption. Society can actually get on the blockchain without public cryptocurrency being involved.
Ok one more opinion (again I am wide open and hoping for debate, I am at work and bored as shit)
Right now everybody is making plays on which coin will be the big gainer....while that is coming, I am making a play for what the market bottom will be.
Specifically, forget one particular coin for a minute, but consider this: at some point, the market will catch fire. At that point there will be a floor. I think that floor will be in the $1 USD range but I am stretching out my investments so that if the floor is .10 USD my life still changes drastically.
There are a lot of solid projects with a legitimate use case that are in the .000x to .0000x range (yeah shitcoins). I am hedging my bets that at least one of these coins will get bumped just by the market shift. At that point I can sit in a hammock in DR and play the market more traditionally.
Thoughts?
Right now everybody is making plays on which coin will be the big gainer....while that is coming, I am making a play for what the market bottom will be.
Specifically, forget one particular coin for a minute, but consider this: at some point, the market will catch fire. At that point there will be a floor. I think that floor will be in the $1 USD range but I am stretching out my investments so that if the floor is .10 USD my life still changes drastically.
There are a lot of solid projects with a legitimate use case that are in the .000x to .0000x range (yeah shitcoins). I am hedging my bets that at least one of these coins will get bumped just by the market shift. At that point I can sit in a hammock in DR and play the market more traditionally.
Thoughts?
On the real side, if the market doesn't go on a run soon, shit don't look too good. This ain't 2017. A lot of factors to think about. Crytpo was the talk at family tables last holiday season. Well, the last 5 months probably crushed all those new entries. They like,
Other things to consider. Blockchain does not mean crypto adoption. If you been following the NBA playoffs, you've seen IBM commercials for its blockchain. That's just the start. If a run is to occur, it better be before televisions are flooded with big corporations talking about their own blockchains. Some folks in the game were already aware of private blockchains, but the combination of governments trying to crush crypto and private blockchains being ready isn't good for crypto. Especially when you see projects just hyped off speculation of partnerships and use-cases.
Speaking of use, if it were about that, why isn't steemit top five? Tron is fucking top 10 and doesn't have a mainnet. If that doesn't let anyone know it's all about hype and speculation, something's wrong. And if hype and speculation are killed at the same time, how can the market truly bounce back?
Governments are hellbent on killing speculation. Folks have to kid themselves into thinking regulation is a good thing. Think 2017 is going to happen with governments snooping around? I'm on record around here saying that 2018 was going to be the last year to make a 2017(and before) type killing. My main reasons were private blockchains and governments. Well, it turns out they might not even let 2018 get it.
Still money to be made. Just a lot harder now. Have to know when to pivot. As someone mentioned, people are milking the airdrop game. Catching dips and selling on the bullrun fakeouts. Offering services to those trying to get into the game.
Happy I got in during the wild, wild west days.
Governments trying to crush the game before it even makes it to atomic swaps.
Folks talking that
Shit ain't FUD either. Governments raiding exchanges. Looking for wash trading and price manipulation. Putting the screws to them.
As I said above, blockchain doesn't mean crypto adoption. Society can actually get on the blockchain without public cryptocurrency being involved.
sounds kind of doomish and gloomish..
while I understand where you are coming from,
I just dont think crypto is going anywhere, it will always go through its stages, and big asshole brother and its mass media are only going to be able to contain it for so long..
they will never stop it, remember crypto currency was never govt friendly and the more govt pushs the more it will adjust...
and we are in an adjustment phase if you ask me....its a chess game and we are waiting for the govt to make its move..
On the real side, if the market doesn't go on a run soon, shit don't look too good. This ain't 2017. A lot of factors to think about. Crytpo was the talk at family tables last holiday season. Well, the last 5 months probably crushed all those new entries. They like,
Other things to consider. Blockchain does not mean crypto adoption. If you been following the NBA playoffs, you've seen IBM commercials for its blockchain. That's just the start. If a run is to occur, it better be before televisions are flooded with big corporations talking about their own blockchains. Some folks in the game were already aware of private blockchains, but the combination of governments trying to crush crypto and private blockchains being ready isn't good for crypto. Especially when you see projects just hyped off speculation of partnerships and use-cases.
Speaking of use, if it were about that, why isn't steemit top five? Tron is fucking top 10 and doesn't have a mainnet. If that doesn't let anyone know it's all about hype and speculation, something's wrong. And if hype and speculation are killed at the same time, how can the market truly bounce back?
Governments are hellbent on killing speculation. Folks have to kid themselves into thinking regulation is a good thing. Think 2017 is going to happen with governments snooping around? I'm on record around here saying that 2018 was going to be the last year to make a 2017(and before) type killing. My main reasons were private blockchains and governments. Well, it turns out they might not even let 2018 get it.
Still money to be made. Just a lot harder now. Have to know when to pivot. As someone mentioned, people are milking the airdrop game. Catching dips and selling on the bullrun fakeouts. Offering services to those trying to get into the game.
Happy I got in during the wild, wild west days.
Governments trying to crush the game before it even makes it to atomic swaps.
Folks talking that
Shit ain't FUD either. Governments raiding exchanges. Looking for wash trading and price manipulation. Putting the screws to them.
As I said above, blockchain doesn't mean crypto adoption. Society can actually get on the blockchain without public cryptocurrency being involved.
Ok. I hear you and to a pretty good extent agree. My bet, though, is that some guys out there who DIDN’T get paid via an ICO will come up with the pivotal technology to make the blockchain jump. I’m hoping they get scooped up for their tech but the buyer lets their coin thrive because it was the vision of the devs...just my thoughts but thanks for the feedback
Not doom and gloom. Just always have to look at things realistically in order to pivot and profit. Don't want to be bagholding in 2020 like
"When moon" meanwhile there's a private giant running blockchain in the area your project supposed to moon in. Don't think I'm saying crypto is going anywhere. It's just myself and some others thought 2018 was the last year for 2017 type gains. But looks like governments making sure that won't happen. Look for more realistic returns in the game. That's not bad. So folks double their money instead of 100-1000x. Still a game to be played, just differently.
Forget the government angle, most people don't want to go against the government. And the ones who can use crypto as fiat replacement most are labeled terrorist states. lol Iran. North Korea. Syria. It used to be much easier to move BTC. Back in the day, I could make an online purchase from any wallet, now I have to use bitpay or coinbase.
I know it was never gov friendly, but that's when it was under the radar. Now they will have specific laws and have strangled entry and exit. You can trade OTC, but best believe they will come up with laws to give the little guy 20 years for OTC.
My hope is June gives the market something. Gauging the community, this is the last thing folks waiting on in 2018. Just feel bad for those who got in during the winter bull. They need an epic run just to break even.
Well actually, you can still get paid via ICO if you launch from the right country. That's what people are doing. Fuck launching in the U.S., South Korea, or any other country acting an ass, they taking it to crypto-friendly regions. Problem is the market has too many ICOs.
I hear you on the icos. Like I said I would like to ride the market on some innovative tech and then do more traditional crypto investments. I just think non ICO developers are hungrier (i.e. poorer) and will be more cutting edge in the short term...
FYI....one of those “cross chain” tokens blew up today exrn/exrt dyor but it might be a good long term hold and there is a token drop if you get in by June 1
IOTX jumped today with a Binance listing...
IoTeX Token Listing Announcement
Hello our Dear Community! We are excited to announce that we are now listed on BINANCE! Trading for IOTX/BTC and IOTX/ETH pairs start at 10PM PDT on 5/31/2018. Check more details here:
https://www.bloomberg.com/crypto
Traders With Pockets Full of Crypto Quit Wall Street
Millennials who made money trading digital assets in their spare time are breaking away from top firms.
By
Alastair Marsh
May 30, 2018, 12:00 AM EDT
How Much Is Bitcoin Really Worth?
Whether cryptocurrencies and the technology that powers them will reshape the financial system remains to be seen. What’s not in doubt is their ability to transform the career paths of bright young minds on Wall Street.
Adrian Xinli Zhang was climbing the ranks at Deutsche Bank AG in New York when he discovered Bitcoin. The 29-year-old made enough money trading digital currencies in his spare time to leave the German bank in March, the same month he was promoted to director, people familiar with the matter said.
At Goldman Sachs Group Inc., Jonathan Cheesman, 36, and Justin Saslaw, 28, are among at least three front-office employees in New York who quit the bank this year after making personal profits from cryptocurrencies, said people with knowledge of the situation, asking not to be identified. In London, Asim Ahmad pocketed enough from investing his savings in Ether to walk away from BlackRock Inc.
Asim Ahmad.
Source: Asim Ahmad
“I’m in a position where it doesn’t make sense to work at BlackRock anymore,” said Ahmad, who advised pension funds on investments in alternative assets and hedge funds while at the world’s largest asset manager. “The one-day volatility of my portfolio is higher than my salary, so if I get a few investments right then I’ll have made the same as my yearly wage and everything else on top is a bonus.”
Officials for BlackRock, Deutsche Bank and Goldman Sachs declined to comment on their employees’ investments or their departures.
While the Wall Street establishment debates whether cryptocurrencies will become a profit center or a legal liability, some employees have gotten wealthy enough from personal investments in digital assets to turn their backs on promising jobs at top firms. A small but growing group of finance professionals has built up a big enough financial cushion to eschew the safety net of a monthly salary.
Instead of heading to the beach or squandering their trading proceeds on luxurious living, some of the new digitally-moneyed have become such ardent believers in the power of blockchain, the technology behind Bitcoin and other digital assets, that they’re starting their own businesses. Ahmad says he now helps run a fund that invests in blockchain ventures with a positive social or environmental impact. Zhang is working on a trading platform for digital assets, according to a person familiar with the matter.
Zhang, formerly a trader on the centralized risk desk at Deutsche Bank, started investing in cryptocurrencies in his spare time last year and has traded more than $1 million worth of the assets, the person familiar said. He exchanged tips and trading ideas with colleagues, including Yao King, head of program trading and exchange-traded fund trading for the Americas, who also made sizable personal profits from crypto trading, said people familiar.
“If you start mentally spending this money it will hurt you when it falls”
Aside from just buying and selling coins, some seek to profit from inefficiencies in the market, such as the variance in the price of Bitcoin on different exchanges and the difference in pricing for futures contracts of varying expiration dates. When the first Bitcoin futures started trading on a Sunday evening in December, King stayed up all night and at one point his trades accounted for a third of all open interest in the March Bitcoin future, according to people familiar with the matter.
When Ahmad first came across Ether in 2016, the same year he joined BlackRock in London, he invested all the savings he had available from six years working for an investment consultancy in Northern England, or 10,000 pounds ($13,250). While declining to say how much money he made from his investments, which included participation in initial coin offerings, he said Ether cost about $10 when he invested. It now trades above $500 and cost more than $1,400 earlier in the year.
“If you start mentally spending this money it will hurt you when it falls,” said Ahmad, who quit BlackRock in March. “If you enjoyed the volatility on the way up you have to accept it falls as hard if not harder at times.”
It’s not only financial professionals who saw the extreme volatility and immature market infrastructure of cryptocurrencies as a money-making opportunity. Scammers and criminals have also targeted the market, prompting regulators from China to the U.S. to scrutinize digital assets.
Authorities worry virtual currencies are susceptible to fraud because exchanges are not actively pursuing cheaters, wild price swings make it easy to push valuations around and digital assets aren’t currently subject to regulations like those that govern stocks and bonds. The Justice Department has opened a criminal probe into whether traders are manipulating prices, while the Securities and Exchange Commission is investigating initial coin offerings.
Read more: U.S. Launches Criminal Probe into Bitcoin Price Manipulation
The whipsaw ride in cryptocurrencies in the past six months, which saw Bitcoin trade between around $6,000 and $20,000, has fueled debate among laymen and Wall Street luminaries alike over whether financial institutions should seek to make money from digital assets or avoid them like the plague. Whether they embrace it or not, the rise of crypto has forced the biggest banks and money managers to acknowledge an asset class that could previously be dismissed as a side-project for libertarians or a playground for criminals.
While many on Wall Street preach the virtues of blockchain, opinion is divided on the benefits and longevity of cryptocurrencies. Digital assets have even proven divisive within firms, with managers often at odds with subordinates, said Adam Grimsley, a former BlackRock fixed-income specialist who co-founded a crypto hedge fund in London called Prime Factor Capital.
“You’ve seen a bifurcation internally at many larger houses where senior managers are very skeptical about crypto, while graduates and younger team members are very positive,” said Grimsley. “The youngsters may have less intellectual baggage and may be more open-minded, but they also have less responsibility for managing risk and working out the practicalities of bolting on crypto to the existing business.”
And while their seniors work out the institutional stance, the juniors are leaving.
“Crypto is certainly a market that’s pulling away real talent from financial services,” said Chris Matta, 28, who left Goldman Sachs’s money management unit last year to co-found an investment firm for digital currencies called Crescent Crypto Asset Management.
Traders With Pockets Full of Crypto Quit Wall Street
Millennials who made money trading digital assets in their spare time are breaking away from top firms.
By
Alastair Marsh
May 30, 2018, 12:00 AM EDT
How Much Is Bitcoin Really Worth?
Whether cryptocurrencies and the technology that powers them will reshape the financial system remains to be seen. What’s not in doubt is their ability to transform the career paths of bright young minds on Wall Street.
Adrian Xinli Zhang was climbing the ranks at Deutsche Bank AG in New York when he discovered Bitcoin. The 29-year-old made enough money trading digital currencies in his spare time to leave the German bank in March, the same month he was promoted to director, people familiar with the matter said.
At Goldman Sachs Group Inc., Jonathan Cheesman, 36, and Justin Saslaw, 28, are among at least three front-office employees in New York who quit the bank this year after making personal profits from cryptocurrencies, said people with knowledge of the situation, asking not to be identified. In London, Asim Ahmad pocketed enough from investing his savings in Ether to walk away from BlackRock Inc.
Asim Ahmad.
Source: Asim Ahmad
“I’m in a position where it doesn’t make sense to work at BlackRock anymore,” said Ahmad, who advised pension funds on investments in alternative assets and hedge funds while at the world’s largest asset manager. “The one-day volatility of my portfolio is higher than my salary, so if I get a few investments right then I’ll have made the same as my yearly wage and everything else on top is a bonus.”
Officials for BlackRock, Deutsche Bank and Goldman Sachs declined to comment on their employees’ investments or their departures.
While the Wall Street establishment debates whether cryptocurrencies will become a profit center or a legal liability, some employees have gotten wealthy enough from personal investments in digital assets to turn their backs on promising jobs at top firms. A small but growing group of finance professionals has built up a big enough financial cushion to eschew the safety net of a monthly salary.
Instead of heading to the beach or squandering their trading proceeds on luxurious living, some of the new digitally-moneyed have become such ardent believers in the power of blockchain, the technology behind Bitcoin and other digital assets, that they’re starting their own businesses. Ahmad says he now helps run a fund that invests in blockchain ventures with a positive social or environmental impact. Zhang is working on a trading platform for digital assets, according to a person familiar with the matter.
Zhang, formerly a trader on the centralized risk desk at Deutsche Bank, started investing in cryptocurrencies in his spare time last year and has traded more than $1 million worth of the assets, the person familiar said. He exchanged tips and trading ideas with colleagues, including Yao King, head of program trading and exchange-traded fund trading for the Americas, who also made sizable personal profits from crypto trading, said people familiar.
“If you start mentally spending this money it will hurt you when it falls”
Aside from just buying and selling coins, some seek to profit from inefficiencies in the market, such as the variance in the price of Bitcoin on different exchanges and the difference in pricing for futures contracts of varying expiration dates. When the first Bitcoin futures started trading on a Sunday evening in December, King stayed up all night and at one point his trades accounted for a third of all open interest in the March Bitcoin future, according to people familiar with the matter.
When Ahmad first came across Ether in 2016, the same year he joined BlackRock in London, he invested all the savings he had available from six years working for an investment consultancy in Northern England, or 10,000 pounds ($13,250). While declining to say how much money he made from his investments, which included participation in initial coin offerings, he said Ether cost about $10 when he invested. It now trades above $500 and cost more than $1,400 earlier in the year.
“If you start mentally spending this money it will hurt you when it falls,” said Ahmad, who quit BlackRock in March. “If you enjoyed the volatility on the way up you have to accept it falls as hard if not harder at times.”
It’s not only financial professionals who saw the extreme volatility and immature market infrastructure of cryptocurrencies as a money-making opportunity. Scammers and criminals have also targeted the market, prompting regulators from China to the U.S. to scrutinize digital assets.
Authorities worry virtual currencies are susceptible to fraud because exchanges are not actively pursuing cheaters, wild price swings make it easy to push valuations around and digital assets aren’t currently subject to regulations like those that govern stocks and bonds. The Justice Department has opened a criminal probe into whether traders are manipulating prices, while the Securities and Exchange Commission is investigating initial coin offerings.
Read more: U.S. Launches Criminal Probe into Bitcoin Price Manipulation
The whipsaw ride in cryptocurrencies in the past six months, which saw Bitcoin trade between around $6,000 and $20,000, has fueled debate among laymen and Wall Street luminaries alike over whether financial institutions should seek to make money from digital assets or avoid them like the plague. Whether they embrace it or not, the rise of crypto has forced the biggest banks and money managers to acknowledge an asset class that could previously be dismissed as a side-project for libertarians or a playground for criminals.
While many on Wall Street preach the virtues of blockchain, opinion is divided on the benefits and longevity of cryptocurrencies. Digital assets have even proven divisive within firms, with managers often at odds with subordinates, said Adam Grimsley, a former BlackRock fixed-income specialist who co-founded a crypto hedge fund in London called Prime Factor Capital.
“You’ve seen a bifurcation internally at many larger houses where senior managers are very skeptical about crypto, while graduates and younger team members are very positive,” said Grimsley. “The youngsters may have less intellectual baggage and may be more open-minded, but they also have less responsibility for managing risk and working out the practicalities of bolting on crypto to the existing business.”
And while their seniors work out the institutional stance, the juniors are leaving.
“Crypto is certainly a market that’s pulling away real talent from financial services,” said Chris Matta, 28, who left Goldman Sachs’s money management unit last year to co-found an investment firm for digital currencies called Crescent Crypto Asset Management.
https://www.forbes.com/sites/panosm...-is-warming-up-to-bitcoin-again/#5763557578c9
Bitcoin is an innovation China cannot say “no” to.
That’s the message of a Global Times editorial, which praises the digital currency. “There’s an increasing belief that just saying no to
Bitcoin won’t be the eventual solution to the cryptocurrency issue,” writes Xiao Xin, author of the editorial. “A more fundamental approach would be to
embrace the new technology without putting the country’s financial system at stake.”
This approach is a signal that Beijing is getting ready to tighten regulations around the digital currency, as U.S., Japan and Korea have done,rather than ban it altogether.
And that could be bullish for Bitcoin prices, which have been all over in recent months. Regulating Bitcoin is certainly better than an outright ban.
The Global Times’ editorial comes months after Beijing banned Initial Coin Offerings (ICOs) and cryptocurrency trading, crushing Bitcoin and other major
cryptocurrencies—see table.
Coin/Investment Trust Change 24H*
Bitcoin (BTC) -9.66%
Ethereum (ETH) -11.22
Litecoin (LTC) -16.92
BitConnect -7.81
*Friday September 7, 2017
Source: Coinranking.com
[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose
their entire investment. Disclosure: I don't own any Bitcoin.]
That was just the beginning rather than the end of growing efforts by big governments around the world to turn Bitcoin back into what itonce was—an
exotic currency for the tech savvy and romantic radicals, as was discussed in a previous piece here.
To be fair Chinese and other governments, big and small, have a couple of good reasons to regulate the process of creating and exchanging cryptocurrencies.
Like the protection of the public from market manipulation, and the ensuring of financial stability.
That’s something governments have been doing for years with conventional financial products and instruments. Why not with cryptocurrencies?
But shutting off ICOs and cryptocurrency exchanges altogether, as China did, reaches beyond traditional regulation. It questions the very legitimacy of
Bitcoin as a currency.
Why? Because it undermines the monopoly of government and the banking system on creating money and credit.
China more than any other country wants to have firm control of its banking system, and allocate credit according to a political agenda. This means that
a competing currency like Bitcoin would threaten its political system. Why not crush it sooner than later?
But crushing Bitcoin could also crush innovation, something China badly needs as it prepares to make the Great Leap Forward from copying foreign
technology to developing its own.
Besides, banning Bitcoin trade in China won’t stop Bitcoin. It will just leave the country behind in the digital currency revolution. As Xiao Xin puts it,
“fencing off bitcoin exchanges can’t effectively end Bitcoin trade, and fears of a Bitcoin bubble will leave China behind in the digital currency revolution.”
And the digital revolution is what can help China make the transition from an emerging to a developed country.
That’s why Beijing seems to be having second thoughts on banning Bitcoin. I wouldn’t be surprised if the ban is lifted in the near future.
Bitcoin is an innovation China cannot say “no” to.
That’s the message of a Global Times editorial, which praises the digital currency. “There’s an increasing belief that just saying no to
Bitcoin won’t be the eventual solution to the cryptocurrency issue,” writes Xiao Xin, author of the editorial. “A more fundamental approach would be to
embrace the new technology without putting the country’s financial system at stake.”
This approach is a signal that Beijing is getting ready to tighten regulations around the digital currency, as U.S., Japan and Korea have done,rather than ban it altogether.
And that could be bullish for Bitcoin prices, which have been all over in recent months. Regulating Bitcoin is certainly better than an outright ban.
The Global Times’ editorial comes months after Beijing banned Initial Coin Offerings (ICOs) and cryptocurrency trading, crushing Bitcoin and other major
cryptocurrencies—see table.
Coin/Investment Trust Change 24H*
Bitcoin (BTC) -9.66%
Ethereum (ETH) -11.22
Litecoin (LTC) -16.92
BitConnect -7.81
*Friday September 7, 2017
Source: Coinranking.com
[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose
their entire investment. Disclosure: I don't own any Bitcoin.]
That was just the beginning rather than the end of growing efforts by big governments around the world to turn Bitcoin back into what itonce was—an
exotic currency for the tech savvy and romantic radicals, as was discussed in a previous piece here.
To be fair Chinese and other governments, big and small, have a couple of good reasons to regulate the process of creating and exchanging cryptocurrencies.
Like the protection of the public from market manipulation, and the ensuring of financial stability.
That’s something governments have been doing for years with conventional financial products and instruments. Why not with cryptocurrencies?
But shutting off ICOs and cryptocurrency exchanges altogether, as China did, reaches beyond traditional regulation. It questions the very legitimacy of
Bitcoin as a currency.
Why? Because it undermines the monopoly of government and the banking system on creating money and credit.
China more than any other country wants to have firm control of its banking system, and allocate credit according to a political agenda. This means that
a competing currency like Bitcoin would threaten its political system. Why not crush it sooner than later?
But crushing Bitcoin could also crush innovation, something China badly needs as it prepares to make the Great Leap Forward from copying foreign
technology to developing its own.
Besides, banning Bitcoin trade in China won’t stop Bitcoin. It will just leave the country behind in the digital currency revolution. As Xiao Xin puts it,
“fencing off bitcoin exchanges can’t effectively end Bitcoin trade, and fears of a Bitcoin bubble will leave China behind in the digital currency revolution.”
And the digital revolution is what can help China make the transition from an emerging to a developed country.
That’s why Beijing seems to be having second thoughts on banning Bitcoin. I wouldn’t be surprised if the ban is lifted in the near future.
https://www.bloomberg.com/crypto
Traders With Pockets Full of Crypto Quit Wall Street
Millennials who made money trading digital assets in their spare time are breaking away from top firms.
By
Alastair Marsh
May 30, 2018, 12:00 AM EDT
How Much Is Bitcoin Really Worth?
Whether cryptocurrencies and the technology that powers them will reshape the financial system remains to be seen. What’s not in doubt is their ability to transform the career paths of bright young minds on Wall Street.
Adrian Xinli Zhang was climbing the ranks at Deutsche Bank AG in New York when he discovered Bitcoin. The 29-year-old made enough money trading digital currencies in his spare time to leave the German bank in March, the same month he was promoted to director, people familiar with the matter said.
At Goldman Sachs Group Inc., Jonathan Cheesman, 36, and Justin Saslaw, 28, are among at least three front-office employees in New York who quit the bank this year after making personal profits from cryptocurrencies, said people with knowledge of the situation, asking not to be identified. In London, Asim Ahmad pocketed enough from investing his savings in Ether to walk away from BlackRock Inc.
Asim Ahmad.
Source: Asim Ahmad
“I’m in a position where it doesn’t make sense to work at BlackRock anymore,” said Ahmad, who advised pension funds on investments in alternative assets and hedge funds while at the world’s largest asset manager. “The one-day volatility of my portfolio is higher than my salary, so if I get a few investments right then I’ll have made the same as my yearly wage and everything else on top is a bonus.”
Officials for BlackRock, Deutsche Bank and Goldman Sachs declined to comment on their employees’ investments or their departures.
While the Wall Street establishment debates whether cryptocurrencies will become a profit center or a legal liability, some employees have gotten wealthy enough from personal investments in digital assets to turn their backs on promising jobs at top firms. A small but growing group of finance professionals has built up a big enough financial cushion to eschew the safety net of a monthly salary.
Instead of heading to the beach or squandering their trading proceeds on luxurious living, some of the new digitally-moneyed have become such ardent believers in the power of blockchain, the technology behind Bitcoin and other digital assets, that they’re starting their own businesses. Ahmad says he now helps run a fund that invests in blockchain ventures with a positive social or environmental impact. Zhang is working on a trading platform for digital assets, according to a person familiar with the matter.
Zhang, formerly a trader on the centralized risk desk at Deutsche Bank, started investing in cryptocurrencies in his spare time last year and has traded more than $1 million worth of the assets, the person familiar said. He exchanged tips and trading ideas with colleagues, including Yao King, head of program trading and exchange-traded fund trading for the Americas, who also made sizable personal profits from crypto trading, said people familiar.
“If you start mentally spending this money it will hurt you when it falls”
Aside from just buying and selling coins, some seek to profit from inefficiencies in the market, such as the variance in the price of Bitcoin on different exchanges and the difference in pricing for futures contracts of varying expiration dates. When the first Bitcoin futures started trading on a Sunday evening in December, King stayed up all night and at one point his trades accounted for a third of all open interest in the March Bitcoin future, according to people familiar with the matter.
When Ahmad first came across Ether in 2016, the same year he joined BlackRock in London, he invested all the savings he had available from six years working for an investment consultancy in Northern England, or 10,000 pounds ($13,250). While declining to say how much money he made from his investments, which included participation in initial coin offerings, he said Ether cost about $10 when he invested. It now trades above $500 and cost more than $1,400 earlier in the year.
“If you start mentally spending this money it will hurt you when it falls,” said Ahmad, who quit BlackRock in March. “If you enjoyed the volatility on the way up you have to accept it falls as hard if not harder at times.”
It’s not only financial professionals who saw the extreme volatility and immature market infrastructure of cryptocurrencies as a money-making opportunity. Scammers and criminals have also targeted the market, prompting regulators from China to the U.S. to scrutinize digital assets.
Authorities worry virtual currencies are susceptible to fraud because exchanges are not actively pursuing cheaters, wild price swings make it easy to push valuations around and digital assets aren’t currently subject to regulations like those that govern stocks and bonds. The Justice Department has opened a criminal probe into whether traders are manipulating prices, while the Securities and Exchange Commission is investigating initial coin offerings.
Read more: U.S. Launches Criminal Probe into Bitcoin Price Manipulation
The whipsaw ride in cryptocurrencies in the past six months, which saw Bitcoin trade between around $6,000 and $20,000, has fueled debate among laymen and Wall Street luminaries alike over whether financial institutions should seek to make money from digital assets or avoid them like the plague. Whether they embrace it or not, the rise of crypto has forced the biggest banks and money managers to acknowledge an asset class that could previously be dismissed as a side-project for libertarians or a playground for criminals.
While many on Wall Street preach the virtues of blockchain, opinion is divided on the benefits and longevity of cryptocurrencies. Digital assets have even proven divisive within firms, with managers often at odds with subordinates, said Adam Grimsley, a former BlackRock fixed-income specialist who co-founded a crypto hedge fund in London called Prime Factor Capital.
“You’ve seen a bifurcation internally at many larger houses where senior managers are very skeptical about crypto, while graduates and younger team members are very positive,” said Grimsley. “The youngsters may have less intellectual baggage and may be more open-minded, but they also have less responsibility for managing risk and working out the practicalities of bolting on crypto to the existing business.”
And while their seniors work out the institutional stance, the juniors are leaving.
“Crypto is certainly a market that’s pulling away real talent from financial services,” said Chris Matta, 28, who left Goldman Sachs’s money management unit last year to co-found an investment firm for digital currencies called Crescent Crypto Asset Management.
And that's why the game is fucked up now
An old Alcoa plant in Upstate New York is going to be converted into one of the world's largest bitcoin mining centers
Despite bitcoin's price decline this year, a cryptocurrency "mining" company is moving ahead with plans to repurpose a 1,300 acre plot once used by Alcoa for aluminum smelting.
Coinmint said Tuesday it would invest up to $700 million in the upstate New York location, which it expects to be the biggest bitcoin mining center in the world. The project will create an estimated 150 jobs over the next 18 months.
After Alcoa shuttered its aluminum smelting operation there four years ago, the company was looking for a tenant. Following some back and forth and a few months of discussions, Coinmint said it signed a 10 year lease with options to renew.
Since they penned a deal, bitcoin prices have dropped about 30 percent and are down nearly 50 percent this year, according to data from CoinDesk.
"As long as bitcoin network exists we anticipate mining to be profitable," said Coinmint's Chief Technology Office Prieur Leary. "We've developed a process to get an edge in the market."
Part of that process was the move to Massena New York, just south of the Canadian border.
The town has access to clean and cheaper power alternatives like hydroelectric and wind. Leary pointed out that each computer used to "mine" generates 1400 watts — the same as one hairdryer. With hundreds of thousands of these hot machines operating at once, upstate New York's climate is ideal for reducing air-conditioning costs.
Cryptocurrency "mining" is essentially math done by high-powered computers. In order to trade bitcoin, transactions need to be verified through complex math equations, then and added to what's known as a "distributed ledger." In return for solving equations "miners" receive bitcoin.
Operations are already underway at the former Alcoa East Facility complex, and are projected to be at full capacity within a year. The 435 Megawatt mining center is expected to be the world's largest digital currency data processor, based on capacity, Coinmint said.
Most of Coinmint's competitors are overseas. Bitmain is the leader in the industry, and raked in record profits as bitcoin skyrocketed to almost $20,000 last year. The Chinese company likely made as much $3 billion to $4 billion in operating profit in 2017, as much as chipmaker Nvidia did last year, according to Bernstein analysts estimates.
Coinmint is looking to hire around-the-clock staff, and plans to tap the local community to hire staff from security personnel to electricians, to highly- trained IT staff.
"We in Massena, would like to welcome Coinmint to our town," Steve O'Shaughnessy, Massena Town Supervisor said in a statement Tuesday. "The thought of 150 jobs and revitalization of the Alcoa East Facility is exciting and what we have been working for. We are ready to provide any assistance we can to move this project to its full potential."
Despite bitcoin's price decline this year, a cryptocurrency "mining" company is moving ahead with plans to repurpose a 1,300 acre plot once used by Alcoa for aluminum smelting.
Coinmint said Tuesday it would invest up to $700 million in the upstate New York location, which it expects to be the biggest bitcoin mining center in the world. The project will create an estimated 150 jobs over the next 18 months.
After Alcoa shuttered its aluminum smelting operation there four years ago, the company was looking for a tenant. Following some back and forth and a few months of discussions, Coinmint said it signed a 10 year lease with options to renew.
Since they penned a deal, bitcoin prices have dropped about 30 percent and are down nearly 50 percent this year, according to data from CoinDesk.
"As long as bitcoin network exists we anticipate mining to be profitable," said Coinmint's Chief Technology Office Prieur Leary. "We've developed a process to get an edge in the market."
Part of that process was the move to Massena New York, just south of the Canadian border.
The town has access to clean and cheaper power alternatives like hydroelectric and wind. Leary pointed out that each computer used to "mine" generates 1400 watts — the same as one hairdryer. With hundreds of thousands of these hot machines operating at once, upstate New York's climate is ideal for reducing air-conditioning costs.
Cryptocurrency "mining" is essentially math done by high-powered computers. In order to trade bitcoin, transactions need to be verified through complex math equations, then and added to what's known as a "distributed ledger." In return for solving equations "miners" receive bitcoin.
Operations are already underway at the former Alcoa East Facility complex, and are projected to be at full capacity within a year. The 435 Megawatt mining center is expected to be the world's largest digital currency data processor, based on capacity, Coinmint said.
Most of Coinmint's competitors are overseas. Bitmain is the leader in the industry, and raked in record profits as bitcoin skyrocketed to almost $20,000 last year. The Chinese company likely made as much $3 billion to $4 billion in operating profit in 2017, as much as chipmaker Nvidia did last year, according to Bernstein analysts estimates.
Coinmint is looking to hire around-the-clock staff, and plans to tap the local community to hire staff from security personnel to electricians, to highly- trained IT staff.
"We in Massena, would like to welcome Coinmint to our town," Steve O'Shaughnessy, Massena Town Supervisor said in a statement Tuesday. "The thought of 150 jobs and revitalization of the Alcoa East Facility is exciting and what we have been working for. We are ready to provide any assistance we can to move this project to its full potential."
How is it fucked up now in your opinion
I think the optimism is gone. The lack of optimism has caused those in the game not to speak on it to those not in it like we did all of last year. New blood is what keeps the market thriving imo and their is none.
https://www.ccn.com/bitcoin-drops-to-7200-while-ethereum-ripple-and-bitcoin-cash-see-losses/amp/
Bitcoin Drops to $7,200 While Ethereum, Ripple, and Bitcoin Cash See Losses
Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now!
Advertisement
Over the past 24 hours, the cryptocurrency market dropped more than $22 billion, falling from $343 billion to $321 billion in market valuation. Bitcoin fell by 5 percent, while other major cryptocurrencies recorded larger losses, dropping by more than 7 percent.
What Triggered the Drop?
On previous reports, CCN emphasized that while the cryptocurrency market has somewhat stabilized in terms of price movements, the volumes of most digital currencies remained relatively low. Bitcoin’s volume has not been able to rebound past the $5 billion mark, leading investors to become uncertain about the short-term future of the cryptocurrency market.
The bitcoin price initially seemed to be bottoming out at $7,500, building momentum around the $7,600 region and breaking the $7,700 mark. While prominent investors and experts including Peter Brandt suggested a short-term rally for bitcoin, the volume of bitcoin failed to pick up, disallowing bulls from taking over the market.
The prediction of Brandt was also conditional, as it relied on the BTC volume to increase substantially along with its movement on the upside.
Given that the price of BTC has dropped below the $7,300 mark and entered the $7,200 region, a further drop to $6,900 is more likely than a swift rebound to the $7,700 region. If the volume of BTC does not spike in the next 24 hours and BTC falls to the higher end of the $6,000 region, an entrance to $5,000 is also a possibility.
“I think we are gonna go to $5,500 – $5,700 next, I can’t see $7000 holding. Most likely we’ll balance a bit, then we’ll slide through. Long timeframes here, looking into June for rough timing of this to play out at a best guess,” Woo said on May 25, adding, “Volatility is still too high. I’m looking for a sustained low band of volatility which tends to be a signal for the end of the detox and the next accumulation phase. It’s still got some time to ride down.”
Short-term skeptics including Woo are still optimistic in the mid-term trend of BTC, as it is possible for BTC to experience a bull run triggered by a mania set up by institutional investors such as pensions and hedge funds in the upcoming months. But, because robust custodian solutions are necessary for institutional investors to commit, it is unlikely that institutional investors come into the cryptocurrency market before the fourth quarter of 2018.
BTC Fall Will Trigger Alts to Plummet
If BTC falls below $7,000 and eventually to the lower end of $6,000, alternative cryptocurrencies and tokens, especially those with smaller market caps and volumes, will drop substantially in value, as tokens tend to experience intensified movements on both the upside and downside.
Bitcoin Drops to $7,200 While Ethereum, Ripple, and Bitcoin Cash See Losses
Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now!
Advertisement
Over the past 24 hours, the cryptocurrency market dropped more than $22 billion, falling from $343 billion to $321 billion in market valuation. Bitcoin fell by 5 percent, while other major cryptocurrencies recorded larger losses, dropping by more than 7 percent.
What Triggered the Drop?
On previous reports, CCN emphasized that while the cryptocurrency market has somewhat stabilized in terms of price movements, the volumes of most digital currencies remained relatively low. Bitcoin’s volume has not been able to rebound past the $5 billion mark, leading investors to become uncertain about the short-term future of the cryptocurrency market.
The bitcoin price initially seemed to be bottoming out at $7,500, building momentum around the $7,600 region and breaking the $7,700 mark. While prominent investors and experts including Peter Brandt suggested a short-term rally for bitcoin, the volume of bitcoin failed to pick up, disallowing bulls from taking over the market.
The prediction of Brandt was also conditional, as it relied on the BTC volume to increase substantially along with its movement on the upside.
Given that the price of BTC has dropped below the $7,300 mark and entered the $7,200 region, a further drop to $6,900 is more likely than a swift rebound to the $7,700 region. If the volume of BTC does not spike in the next 24 hours and BTC falls to the higher end of the $6,000 region, an entrance to $5,000 is also a possibility.
Related Post
- Netflix ‘Explained’ Falsely Claims Bitcoin is Mostly Spent on Illegal Services
Jameson Lopp, a former lead engineer at BitGo and a prominent Bitcoin developer, has criticized…
- CFTC Demands Trading Data From Bitcoin Exchanges In Price Manipulation Probe
The US Commodity Futures Trading Commission (CFTC) has told certain bitcoin exchanges to provide extensive trading…
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“I think we are gonna go to $5,500 – $5,700 next, I can’t see $7000 holding. Most likely we’ll balance a bit, then we’ll slide through. Long timeframes here, looking into June for rough timing of this to play out at a best guess,” Woo said on May 25, adding, “Volatility is still too high. I’m looking for a sustained low band of volatility which tends to be a signal for the end of the detox and the next accumulation phase. It’s still got some time to ride down.”
Short-term skeptics including Woo are still optimistic in the mid-term trend of BTC, as it is possible for BTC to experience a bull run triggered by a mania set up by institutional investors such as pensions and hedge funds in the upcoming months. But, because robust custodian solutions are necessary for institutional investors to commit, it is unlikely that institutional investors come into the cryptocurrency market before the fourth quarter of 2018.
BTC Fall Will Trigger Alts to Plummet
If BTC falls below $7,000 and eventually to the lower end of $6,000, alternative cryptocurrencies and tokens, especially those with smaller market caps and volumes, will drop substantially in value, as tokens tend to experience intensified movements on both the upside and downside.
https://www.ccn.com/bitcoin-drops-to-7200-while-ethereum-ripple-and-bitcoin-cash-see-losses/amp/
Bitcoin Drops to $7,200 While Ethereum, Ripple, and Bitcoin Cash See Losses
Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now!
Advertisement
Over the past 24 hours, the cryptocurrency market dropped more than $22 billion, falling from $343 billion to $321 billion in market valuation. Bitcoin fell by 5 percent, while other major cryptocurrencies recorded larger losses, dropping by more than 7 percent.
What Triggered the Drop?
On previous reports, CCN emphasized that while the cryptocurrency market has somewhat stabilized in terms of price movements, the volumes of most digital currencies remained relatively low. Bitcoin’s volume has not been able to rebound past the $5 billion mark, leading investors to become uncertain about the short-term future of the cryptocurrency market.
The bitcoin price initially seemed to be bottoming out at $7,500, building momentum around the $7,600 region and breaking the $7,700 mark. While prominent investors and experts including Peter Brandt suggested a short-term rally for bitcoin, the volume of bitcoin failed to pick up, disallowing bulls from taking over the market.
The prediction of Brandt was also conditional, as it relied on the BTC volume to increase substantially along with its movement on the upside.
Given that the price of BTC has dropped below the $7,300 mark and entered the $7,200 region, a further drop to $6,900 is more likely than a swift rebound to the $7,700 region. If the volume of BTC does not spike in the next 24 hours and BTC falls to the higher end of the $6,000 region, an entrance to $5,000 is also a possibility.
“I think we are gonna go to $5,500 – $5,700 next, I can’t see $7000 holding. Most likely we’ll balance a bit, then we’ll slide through. Long timeframes here, looking into June for rough timing of this to play out at a best guess,” Woo said on May 25, adding, “Volatility is still too high. I’m looking for a sustained low band of volatility which tends to be a signal for the end of the detox and the next accumulation phase. It’s still got some time to ride down.”
Short-term skeptics including Woo are still optimistic in the mid-term trend of BTC, as it is possible for BTC to experience a bull run triggered by a mania set up by institutional investors such as pensions and hedge funds in the upcoming months. But, because robust custodian solutions are necessary for institutional investors to commit, it is unlikely that institutional investors come into the cryptocurrency market before the fourth quarter of 2018.
BTC Fall Will Trigger Alts to Plummet
If BTC falls below $7,000 and eventually to the lower end of $6,000, alternative cryptocurrencies and tokens, especially those with smaller market caps and volumes, will drop substantially in value, as tokens tend to experience intensified movements on both the upside and downside.
Bitcoin Drops to $7,200 While Ethereum, Ripple, and Bitcoin Cash See Losses
Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now!
Advertisement
Over the past 24 hours, the cryptocurrency market dropped more than $22 billion, falling from $343 billion to $321 billion in market valuation. Bitcoin fell by 5 percent, while other major cryptocurrencies recorded larger losses, dropping by more than 7 percent.
What Triggered the Drop?
On previous reports, CCN emphasized that while the cryptocurrency market has somewhat stabilized in terms of price movements, the volumes of most digital currencies remained relatively low. Bitcoin’s volume has not been able to rebound past the $5 billion mark, leading investors to become uncertain about the short-term future of the cryptocurrency market.
The bitcoin price initially seemed to be bottoming out at $7,500, building momentum around the $7,600 region and breaking the $7,700 mark. While prominent investors and experts including Peter Brandt suggested a short-term rally for bitcoin, the volume of bitcoin failed to pick up, disallowing bulls from taking over the market.
The prediction of Brandt was also conditional, as it relied on the BTC volume to increase substantially along with its movement on the upside.
Given that the price of BTC has dropped below the $7,300 mark and entered the $7,200 region, a further drop to $6,900 is more likely than a swift rebound to the $7,700 region. If the volume of BTC does not spike in the next 24 hours and BTC falls to the higher end of the $6,000 region, an entrance to $5,000 is also a possibility.
Related Post
- Netflix ‘Explained’ Falsely Claims Bitcoin is Mostly Spent on Illegal Services
Jameson Lopp, a former lead engineer at BitGo and a prominent Bitcoin developer, has criticized…
- CFTC Demands Trading Data From Bitcoin Exchanges In Price Manipulation Probe
The US Commodity Futures Trading Commission (CFTC) has told certain bitcoin exchanges to provide extensive trading…
- Cryptokitties’ Decline Resembles That of PokéMon Go
After peaking at its launch, CryptoKitties has been steadily losing its momentum, showing Non-Fungible Tokens…
- Netflix ‘Explained’ Falsely Claims Bitcoin is Mostly Spent on Illegal Services
“I think we are gonna go to $5,500 – $5,700 next, I can’t see $7000 holding. Most likely we’ll balance a bit, then we’ll slide through. Long timeframes here, looking into June for rough timing of this to play out at a best guess,” Woo said on May 25, adding, “Volatility is still too high. I’m looking for a sustained low band of volatility which tends to be a signal for the end of the detox and the next accumulation phase. It’s still got some time to ride down.”
Short-term skeptics including Woo are still optimistic in the mid-term trend of BTC, as it is possible for BTC to experience a bull run triggered by a mania set up by institutional investors such as pensions and hedge funds in the upcoming months. But, because robust custodian solutions are necessary for institutional investors to commit, it is unlikely that institutional investors come into the cryptocurrency market before the fourth quarter of 2018.
BTC Fall Will Trigger Alts to Plummet
If BTC falls below $7,000 and eventually to the lower end of $6,000, alternative cryptocurrencies and tokens, especially those with smaller market caps and volumes, will drop substantially in value, as tokens tend to experience intensified movements on both the upside and downside.
Tempted to hop in during this crash... Waiting for the proverbial bottom.
Problem is no one knows where the bottom is. If it's true that whales are dumping, shit has a long way to go. People who got in this time last year and before are still up big time. Shit is crazy. For example, Icon ico price was 11 cents. Shit can tank to $1 from it's current $2 and folks still up when they dump.
The recent obsession the U.S. government has with market manipulation and tether is fucking terrible for crypto. The runs were built of massive market manipulation and tether is important to the game. Crazy that one fucking country can fuck it up for everyone. Funny how one country can ruin in for everyone. They going to force everyone to gamble on Bitmex.
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