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Crypto is unravelling


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#1 NAV

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Posted 10 January 2018 - 09:30 AM

Or i should say the fraud is unravelling. Now anybody who is older than 20 years vividly remember the scam of adding .com to the company names and launching the IPOs. Day trading high flyers had become a occupation all of a sudden. In the end, when the dust settled most of the day traders vanished into oblivion.

 

The game has become intense in the Crypto space since the beginning of Dec 2017. Bitcoin, the king of crypto topped at 20k, started a wave B advance and is now in a Wave C decline. While the King was in a wave B, the alt coins and the ICO tokens went into a frenzy - 400-500% gains in a matter of month. It's all unravelling now !

 

I see the same parallels to the dot com era. Same fraud going on by the tech companies in the ICO space. Adding the word "Blockchain" to their businesses. Crypto was all about decentralisation and moving away from the monster called central authority, eliminating the middleman and thus lowering the transaction fees. Today i was reading a whitepaper of an ICO offering. This company uses centralized servers for the data storage, but they claim to be a decentralized marketplace. LOL ! And worse it says if the transaction costs on Ethereum goes higher, they may even resort to taking the company from a public blockchain to a private blockchain to avoid costs. How does a private blockchain solve the horrors of a central authority ? Technologically speaking these folks are grasping at the straws - huge transactions making the business model unviable and a non-scalable technology . Many are centralized traditional solutions clothed in blockchain buzzword. Utter fraud going on and the SEC is all silent about it. When the investors lose their shirt, the SEC will come out and make a lot of noise.

 

And the crypto traders are in a virtual horror show right now. Exchanges getting overwhelmed and shutdown, no order confirmations, delistings of tokens - you name it. Again when the dust settles, there will be a few retail crypto traders left. Seen this movie before.


Edited by NAV, 10 January 2018 - 09:31 AM.

"It's not the knowing that is difficult, but the doing"

 

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#2 NAV

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Posted 10 January 2018 - 10:02 AM

And here's capitulation by our wall street fraud laugh.png

 

https://finance.yaho...es-tune-on.html


Edited by NAV, 10 January 2018 - 10:02 AM.

"It's not the knowing that is difficult, but the doing"

 

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#3 NAV

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Posted 10 January 2018 - 10:03 AM

Ripple is down 50% in 3 days. It's a horror show.


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#4 NAV

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Posted 10 January 2018 - 10:07 AM

Investors Intelligence -  Bulls 64.4 Bears 13.5. Nosebleed territory again.

 

Mark, hope you are watching this !


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#5 NAV

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Posted 10 January 2018 - 10:09 AM

 Ralph Acampora said he was so bullish he had to sit down and calm downlaugh.png  Oh boy !

 

https://www.cnbc.com/2018/01/10/this-bull-market-is-more-powerful-than-the-late-1990s-acampora-says.html?__source=Twitter


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#6 NAV

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Posted 10 January 2018 - 10:38 AM

There you go - porn joins ICO frenzy !

 

https://okoin.io/?ut...ampaign=network


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#7 da_cheif

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Posted 10 January 2018 - 11:00 AM

WWW or have you forgotten



#8 diogenes227

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Posted 10 January 2018 - 12:44 PM

"ALL CRYPTOCURRENCIES" - 1375 and counting?

 

And KodaK - no doubt heading back into the Dow on the back of a crypto camel.  laugh.png

 


Edited by diogenes227, 10 January 2018 - 12:53 PM.

"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#9 gm_general

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Posted 10 January 2018 - 12:59 PM

I had a flashback yesterday when someone on Yahoo declared he was making so much in stocks that he could retire in a few years (he was 32). That was me in 2000. The thought I had was if everyone can just buy and get rich why does anyone need an adviser? Just buy some ETF or throw a dart board, its easy peasy.



#10 Data

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Posted 10 January 2018 - 05:17 PM

It goes from one currency into another.  The total market has given back almost half of January's gains.

 

https://coinmarketcap.com/charts/