Cryptocurrencies: scams and skullduggery

Quantt said:
Bitcoin Exchange Kraken Goes Down for 40 Hours, Drawing Mt. Gox Comparisons
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. . . Aye, for every article highlighting the teething problems associated with cryptos, there's another that demonstrates that major companies are starting to take the space very seriously. This link is the article about Kraken: Ripple and MoneyGram Test XRP Currency Transfers. The freight train is steadily building up speed Quantt - how long will you remain standing in front of it?
😛
Tim.
 
timsk said:
. . . Aye, for every article highlighting the teething problems associated with cryptos, there's another that demonstrates that major companies are starting to take the space very seriously. This link is the article about Kraken: Ripple and MoneyGram Test XRP Currency Transfers. The freight train is steadily building up speed Quantt - how long will you remain standing in front of it?
😛
Tim.
Click to expand...

Actually I am remaining on the side of the train wreck: I am neither long or short, so I am just enjoying the **** show...

BTW, the Ripple XRP token is not a based on decentralized blockchain technology...
 
I know that headline is trying to imply that Bitcoin is so bad and dangerous that its irrationally causing people to get into debt but that's just the same for any trading/gambling. People max out credit cards and lose their houses on sports betting/trading/poker/snail races, so that's not really specific to Bitcoin.
 
brewski1984 said:
I know that headline is trying to imply that Bitcoin is so bad and dangerous that its irrationally causing people to get into debt but that's just the same for any trading/gambling. People max out credit cards and lose their houses on sports betting/trading/poker/snail races, so that's not really specific to Bitcoin.
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You are right, except in a situation like this, a lot more people do it to chase the bubble compared to the other gambling alternatives...
 
Yeah true, I know someone who has no interest in gambling but has actually bought Bitcoin in the last few months.
 
Bitcoin which was $19,000+ a short time ago is now just over $11,300 per coin.
Glad I resisted the urge.
 
Nope can’t find the amazing article I was looking for, it appears to have been washed into a million other articles all speculating about the greatness of blockchain and how it will change the world, oh well, next technology please, blockchain is officially old hat and is indeed, truly, currently a scam.
 
Pat494 said:
Bitcoin which was $19,000+ a short time ago is now just over $11,300 per coin.
Glad I resisted the urge.
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This is my bold prediction:

The big whales holding most of the crypto tokens will have to cook something up to drive the price and the hype up again... they need a new blood to sell to...

So my prediction is a new high profile ICO will come into play soon, big company name with multi billion offer and the hope of the whales is that the rising tide will lift all others + they will give themselves large portion of the new ICO (20% anyone) for free to sell to the gullible...

Just watch...
 
I've heard there's pump and dump groups operating out there... just look at Bitcoin Diamond the last few days.

I've read a few things about Tron/trx , that looks like it could be a promising punt. Links with Alibaba etc and only 6c right now
 
brewski1984 said:
I've heard there's pump and dump groups operating out there... just look at Bitcoin Diamond the last few days.

I've read a few things about Tron/trx , that looks like it could be a promising punt. Links with Alibaba etc and only 6c right now
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I would advice you to read about The DAO - the biggest crypto venture fund at the time, the biggest crowdfunded campaign in history, decentralized, democratic, open sourced, stateless, hyped to the Nth degree... and why now we have two Ethereum tokens (Ethereum and Ethereum classic)...

Very interesting story...

And all this happened in ancient history - less then 2 years ago...
 
Quantt said:
This is my bold prediction:

The big whales holding most of the crypto tokens will have to cook something up to drive the price and the hype up again... they need a new blood to sell to...

So my prediction is a new high profile ICO will come into play soon, big company name with multi billion offer and the hope of the whales is that the rising tide will lift all others + they will give themselves large portion of the new ICO (20% anyone) for free to sell to the gullible...

Just watch...
Click to expand...

I doubt it, all those poor saps that have invested on the way up and at the top of peak hype have just lost all their money, nothing left to invest and no doubt alot of them have been ruined, saddled with debts from the money they borrowed to invest, totally flushed.
 
Signalcalc said:
I doubt it, all those poor saps that have invested on the way up and at the top of peak hype have just lost all their money, nothing left to invest and no doubt alot of them have been ruined, saddled with debts from the money they borrowed to invest, totally flushed.
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Yep, agreed...

My prediction is only that there is going to an attempt to revive the interest with a new "monster" billion dollars ICO in the coming months, I am not predicting how successful or not it it going to be...
 
Quantt said:
Yep, agreed...

My prediction is only that there is going to an attempt to revive the interest with a new "monster" billion dollars ICO in the coming months, I am not predicting how successful or not it it going to be...
Click to expand...

Yes, it would be a good barometer of the state of the market, if it happens 👍
 
As bad as it is right now, the biggest selloff and panic will happen when people realize that the biggest exchange is in trouble, there are no 1.5 Billion dollars in a bank account somewhere to back Tether (they just "printed" 200 millions new tokens I believe yesterday, because of the demand as a "safe currency") and they cannot make a withdrawal...
 
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