Why Everything You Know About Investing In Crypto Is Wrong

in crypto •  4 months ago

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So you want to make a million dollars, eh?

Well I got news for you bucko, that shit isn't going to happen any time soon. It takes a massive amount of work to get there. Not a very popular thing to say, but it's true. There's no magic pill you can take, no audio book you can listen to, no video you can watch that's going to suddenly spark your mind into a fire of success.

If anything, it's like learning a language from scratch. Takes an enormous amount of work. You have to be in many situations to blah blah blah.

Fuck I'm so over writing this article. So over it.

I'm over everything in general lately. Not sure what the fuck is wrong with me. Just affected by a general malaise.

In fact, I've tried to write this article many times but always end up deleting it. I figure if any of my remaining clients saw it, it would be bad for business. But thankfully they're all in safe hands now. And if this blog post is what prevents them from being successful companies, well then at least I'll be famous.

Malaise = Malaysia? Illuminati confirmed

So two weeks ago I lost a big client who was paying me a lot of money to work on their social media. Ok fine. Happens. It was a pain, but what can you do?

Then I had to go to Malaysia to renew my visa for Thailand. Without getting into too much detail, to stay in Thailand long-ish term, you have to do visa runs which is basically where you just cross the border and come back a few days later.

I decided to go to Malaysia because it was the cheapest flight. Looking back, I should have paid the extra hundred bucks and gone to Vietnam. The Malays I met were unfriendly and Kuala Lumpur is a dumpster of a city. I have absolutely no desire to ever go back there again. Sorry to any Malays reading this. I was not impressed.

This is especially true coming from a place where I have scantily-clad females walking around half drunk at all hours of the day. A place where there's a 2 mile stretch of beach, a walking street where people party 7 nights a week, and my own cozy little hostel with acceptable internet speeds and periodic visits from slutty European girls very, very far from home.

After four days in KL I was miserable. I wanted to come back to Phuket so bad. And finally I did.

This was about a week ago. But I was so shaken by the experience of not being able to spend 3 hours a day at the beach with half naked women that my depression lingered. I just couldn't shake it.

It was right about this time where the whole crypto market started deteriorating. I'm a bag holder extraordinaire, which for you non-crypto "investors" means I have a bunch of worthless tokens that I bought during the Great Crypto Boom Of Q4 2017. I've got so many coins that I don't even remember them all.

They're all down right now. So is Bitcoin. Everything is down. It's gotten so bad that I don't even check my portfolio anymore. I just wanted to focus on making new money and getting new clients. Not a bad idea, right?

It's not what you know...

Two interesting things happened around this time.

The first is that I was able to hook up with an international marketing syndicate that specializes in promoting ICOs on various social channels. These guys are what they call "shills" on Reddit. Basically they go places where crypto "investors" gather and talk about whatever company they're trying to promote. It's also sometimes called grassroots marketing or guerilla marketing.

When I made this connection I almost shit my pants. Without a doubt, this was THE MOST powerful way to promote any company, let alone an ICO, that I had come across during my time in the crypto space. With tens of thousands accounts across dozens of platforms in various languages, these guys can put any company on the map. And more exposure means more investors.

After solidifying this connection, I felt like I was walking on air. I remember walking through one of the main streets in Patong feeling extremely powerful. It was like I had the keys to the castle. I could make a king or destroy one.

Now here's the thing: people hate shills. They're essentially salesmen and everyone hates them too. And I say this as someone who has worked as a salesman for his entire professional career. I know everyone hates us. I don't give a shit though. I'm trying to make some money.

The thing with shills though is that they need to stay under the radar. They're 100% confederates and have to make it seem like they're just a random person talking about a random thing like people do.

Who you know > what you know

The second interesting thing was actually set in motion a few months ago as a result of the networking I've been doing in the crypto space. One of the connections I made was an individual who is very well-connected in the crypto space. After our first phone conversation I knew I had found my role model. This guy was a straight hustler.

You know that feeling when you meet someone and you're both on the same level? Like right away? That was me and this guy. Made me very optimistic, as this guy is worth mega bucks.

A few weeks go by and we exchange a few emails. Nothing much happens until I'm working on a deal with a new client who has an ICO coming up. I'm pitching him on my PR services as usual when he hits me with an amazing offer: he won't pay a monthly fee, but instead will give me a fixed % of the total amount of money raised during the ICO.

Now, I won't say how much exactly, but suffice to say that it would be a seven-figure payday for me. Just for a few months work.

So I'm thinking "alright, that's a great offer - but how the fuck am I supposed to help this guy raise $20m?" I mean, sure I can run this guy's Twitter account and write him a few blog posts, but $20m? Nah. I'm good, but I'm not that good.

I reach out to Mr. Well Connected and tell him about the offer, adding that if he gets involved and works his magic then I'd split it with him 50/50. And not only that, I'd lay it on the prospect so thick that I'd even get him to increase the fixed % of the total raise. Mr. WC likes that and refers me to his partner.

So now I'm acting as a dealmaker for the dealmaker, pitching these consultants on why they should work for this guy for free. And on the OTHER end I'm pitching the CEO on why they should pay the consultants an exorbitant % of the total funds raised.

Long story short, both sides agreed. And just like that, homeboy is virtually guaranteed a successful ICO.

These consultants have mega connections with crypto publications, private investors, angel groups... fucking everything. And not just in the West either. They have their hands in the Asian markets too, which have way more money than we do.

Not only that, I was able to work out a deal between these consultants and each one of my clients. So take that deal that I told you about before and multiply it, plus add it to whatever I was making before.

Sounds good, right? So why the fuck am I so depressed?

I can't really put my finger on it, but I think it's because I realized that all this crypto shit is basically 100% speculation and bullshit. Okay fine, that's what everyone has been saying all along. But I was drinking the Kool Aid and didn't believe it.

Crypto was supposed to redistribute the wealth! It was supposed to be our generation's way of making the big bucks without putting in years of hard work. Like the Boomers who bought cheap houses and paid $500/year for college, this was our "right place, right time" moment.

But nope, looks like it was a bubble after all. We got taken for a bunch of fools. Suckered by Wall Street and beaten at a game we had no experience playing.

It's not even that, though. You have all these shit ICOs with their irrelevant ERC20 tokens that literally have 0 use case. Literally none of them are necessary. It's all just a cash grab pitched as "a way for people other than institutional investors to get involved with early stage projects."

Give me a fucking break. People were throwing money at blockchain startups just to create their own coins. I can make a hundred million tokens right now and sell them in my ICO for $0.10 and make ten mil. No product, no team, nothing. Just an idea and a whitepaper.

And the worst part? It doesn't even matter if my platform, token, team, website, idea, and whitepaper are ALL shit.

Why? Because I can use the paid shills to pump the ICO to the stars and get the few people who aren't bleeding to death to invest in it, OR I can just hit up my new best friends and be like, "yo bro, I negotiated another deal with this client. Tell homeboy to go to Asia and bring back $20m."

Why am I depressed? Fuck, I don't even really know. A lot of reasons I guess, but the main thing is that I realized that the project doesn't matter. The team doesn't matter. The tech doesn't even matter.

All that matters is the hype. Hype = money.

Time to find a new hobby

Now that the market is contracting, it's hard to BUILD the hype in the first place. The crazy thing is that even THAT doesn't matter, as I can put together a deal with these ICOs and some fundraisers and they'll get the money anyway. And once they get the money, they can throw some at the project until they have a working platform that changes the world (lol) or create enough hype to jack up the price of their token so they can dump it on an exchange and collect their money.

Don't get me wrong, my conscience isn't bothering me. I don't give a shit if you think this is unethical or not. I'm not promoting scams and all these companies truly 100% believe in the work they are doing. They're dedicated and work on their projects 7 days a week. At least the ones I'm working with.

I mean, I should be happy, shouldn't I? If these deals go through then I'm on track to make millions of dollars this year, just from a few emails. I guess I just didn't know it would be so easy. But now that the bubble is popping, what's the future for ICOs? I have no idea.

The worst part is that now I feel like I have nothing to do. No more ICOs to pitch, I lost my biggest client and I just don't have the motivation to write about crypto that I had a month ago. Why the fuck am I even writing this blog post? Steemit is just another cash grab by some people who were smart enough to make their own version of fake internet money.

Honestly, you know what I'm thinking of doing? Just starting my own ICO. Put together a website and talk a few developers into letting me put their picture on there. Tell my homeboys I want to raise, oh I dunno, $20m maybe. Yeah I think that'll do it.

You want to talk about instant fame, if you convince anyone to give you $20m you better believe TechCrunch is going to write an article about you.

But then the problem is that I'll have to actually do the work to try and build the company. I won't be able to do Muay Thai every day, spend 2-3 hours at the beach and chill with slutty European girls.

Decisions decisions.

What do you think of the current state of the crypto markets?

Let me know in a comment!

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It's not over this is the result of simple economics if you have bitcoin and you see it crashing logically you trade for cash and wait, don't have to be a genius to figure that out. The cause is someone holding over a Billion dollars of BTC and must sell it off to fulfill his mandate . When will it end? My guess is after the MTGox guy has less than 10,000 BTC left to sell. Right now he has 166,000 to go. After that everything can go back to normal trading.

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166,000 what to go?

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166,000 left to selloff BTC and BTCC each. But it's manipulation big time just take a look, in 24hrs the market-cap increased 40 Billion do you really think 1Billion in coin made it drop 80 Billion? Well question is answered it was all caused by the G20 Meeting :)) were good

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I think the MTGox guy will wait till the next bull run to dump on us again.

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it's very hard to imagine But the Marketcap was 820 Billion in December and he sold off 400 million it just dosen't make any logical financial explaination, were talking over 400 billion drop on fear of someone selling 1 billion ?

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The marketcap is just a representation and interpolation of the current trade volume.
So it was only theoretically at 820 billion. This number might be way lower.
Tether is also contributing to the fact and you don't really know how much it is actually backed by real money. We might be looking at 1:10 , some people believe its 1:50 or even worse. If you consider this fact it doesn't look too suprising anymore that the market is in depression after 400 million USD worth of crypto were sold.

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https://steemit.com/bitcoin/@blockchainbeta/bitcoin-hit-by-regulation-expect-massive-dump

Read this article it basically says that at the moment crypto is speculative like the internet in the 90's-2000 @blockchainbeta

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Thx for the great insights into a crypto holders heart and soul.. in regards to the major coins and tokens IMHO nobody knows where it is going.. but having been an long time skeptic currently I can see that a lot of people have not been involved at all.. especially not institutions.. ist not over until they are in...
so I believe its a 50/50 chance between a further crash towards 0 oder another boom hitting higher highs..
but everybody should take care of good money management and only spend his gamble money... unfortunately boom and bust cycles always have the same news headlines... first lucky overnight zillionairs followed by mom and pops loosing their house and last shirt... yet I did not see the later headline... so fasten your seat belts in both directions..
I would especially recommend everybody: only buy what you understand... and yes that requires to read the whitepaper and secondly ask yourself the question: is the token really necessary for the ecosystem / business model described --> e.g. it will not work without application of blockchain technology or is it just a "oh OK.. we have a token.. now lets find a good story.."
..same applies for all doing promotions..

I have been reading and writing about crypto investment principles and wanted to take a break, so I looked for a 'blog' trending post. Guess what? Crypto follows me! Haha! Thanks for sharing these Info. Marketing hype definitely skews everything so, I agree with you totally about the sheer hard work. It's not a magic pill. It's not a solution for laziness and lack of school education. Cryptos is far from a get-rich-quick scheme. Those still thinking of it that way will get frustrated if they don't get extremely lucky.

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Please watch the markets in July your opinion will change then.

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We are hopeful that Market will repeat the history of last summer in this season.

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So, @yallapapi, are you now a depressed and dis-illusioned multi-millionaire counted in USD?

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So, @yallapapi, are you now a depressed and dis-illusioned multi-millionaire counted in USD?

I think you are DEAD ON. I realized this immediately. Now, need to ask more questions to the one person I know who IS connected. I'll work with you, I get this.

Hahaha have you seen Useless Ethereum Token? It's great

I think the market was long overdue for a correction but I hope the prices start climbing soon!

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That's how I view this too. I'm not expert, but just looking at the graphs you can clearly see that there was roughly consistent growth for a while, then it suddenly took off. Now we are back down near where we would have been if that consistent growth had just continued instead of a huge growth and crash.

I will say, not as exciting now though.

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Bubble...

Eventually BTC and all its brethren, turn around and gives us the middle finger.
All the shillers and experts, who talk up a coin, based on Elliott waves or Fibonacci levels, all of them, will eventually come to the realization that every chart eventually is one giant FUCK YOU!

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Congrats, you have now entered the 'Crypto Veteran' stage and you are now able to see through the bullshit.

You're now at the point where you no longer think market manipulations and such are 'nutty conspiracy theories' but in fact realize that this is exactly what's going on on a daily basis. News is being manipulated, shilled, and whatnot. 90% of the altcoins are indeed shitcoins, including some of them that sound great.

With regards to the paid shilling you really need to remember this too and most of all remember that it is not just in crypto where this happens. These paid shill tactics are 1000% also going on in political campaigns and other initiatives to try and attempt to change the public opinion. Most of the loudest voices on pretty much any subject have a big chance of being 'fake'.

It's like the early days of commercials where people were unable to seperate truth and lies in commercials either.

Now that you've discovered the dark sinister truths of crypto, it's time to seperate the crap from the gems and ditch the 'shitcoins' or simply start seeing them as ways to earn more of the gem-coins.

While much of crypto is a money-grab, there are projects which are solid and have actual purpose and value. For me, these are some of the more established coins. Bitcoin being the primary one, but coins like ETH and XMR have merit too. Personally I am leaning toward Bitcoin maximalism more and more, though the majority of my portfolio is in alts.

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Pro comment
XMR 4 lyfe

Hey yallapapi,
well done absolutley greate article... leaves me really thinking about some problems you literally hit!
I guess in the end you can rely on your stomach and the best thing is a) reflecting and evaluating for yourself what has potential b) finding various experts. Only if both points are hit by 100% you should go in! You maybe not in everything that booms but you higher your profit/risk-ratio :)

Thanks for sharing your Thoughts!
Absolutely the content I was looking for, great i discoverd your Channel :)
All the best from Germany my friend,
johannes (:

You on Discord mate?

Instant fan! Hilarious so honest bro! I super appreciate it!

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No problem. Even went back and edited the comment.

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lol was a joke brother. I don’t give a fuck

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😂

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Lesson for today: HYPE = MONEY
😁😁

Haha you won’t get that money until you see it in your bank account and frankly with the way the crypto market is going you are going to need some illuminati/4chan shilling, not that noob reddit crap. I highly doubt you will get anywhere near a million. More like a few thousand if it does take off, which is highly doubtful.

Good thing you’re in Thailand. Maybe one of the lady men will pay you to suck their dick noob.

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LOL bro I know you post on /biz. I can feel it in my bones. I'll see you on there. Go fuck yourself

Hey man, I am working on a blockchain product that will enable small-scale, self-governing neighborhoods to reach energy independence, and revitalize local economies. All using a blockchain platform that creates a locally specific coin for each neighborhood. This coin will be tied to the neighborhood's land values, and the residents will be given a share of the ICO to use as voting power in collective decision making.

This project is in the very early phases. I am looking for people who have more experience than I to help move this thing forward. Check out my article here:

https://steemit.com/blockchain/@tidnull/ut-arlington-s-engineering-challenge-my-proposal-rough-draft

Thanks

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Honestly brother I'm not particularly enthused by your project. I think it's stupid. But that's just me.

That said, once you get things going I might be able to help you raise money. Let me know when you're getting ready to launch your ICO.

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Thanks for your time at any rate! This would probably be years in the future that I could even think about launching an ICO.

Can you give more specific criticism?

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Yes. The problem with ideas like this is that they depend too heavily on beareaucracy and existing institutions to get any traction. Not only are you dealing with energy, but you’re also going to go around to local governments and try and get them to adopt your token? Call me in 20 years. Healthcare, insurance, energy.. they all have this problem.

The best projects are ones that develop platforms for people to create projects on. What you’re doing is just a bunch of ERC20 tokens. I could go do that right now, anyone could. It’s not special.

Look at projects like ethereum, Lisk, even steem is a good example. Look at all the new stuff coming out on the steem blockchain. These people aren’t being paid to create it, they’re just doing it to support the ecosystem. For all the problems on steemit you can’t deny that the steem project is growing and getting used by developers. Not sure what your background is and whether you’re a developer or not, but if you are then I’d say go for the good and try and create a full platform.

If you can’t do that, then just fork monero and make a new privacy coin.

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First of all, thanks, this is hugely valuable feedback. So what you're saying is that the platforms already exist to create something like a locally specific coin?

I envision people using blockchain based, self-governing neighborhoods as a way to eventually escape bureaucracy. Sure, it will take years of working within city governments, but eventually I see decentralized micro governments replacing large-scale, sprawling municipalities--I believe that's the ethical direction to go. I expect to spend at least twenty years working on a half-perfect product. But I cannot do this alone.

I am not a developer. My background is in construction and I am studying civil engineering. I am just now learning basic programming. Am I too late in the game to start studying blockchain development and make a platform specific to community building?

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Brother... I don't know what to tell you man. You can make a coin right now if you want. Make an ERC token or do it on the Waves platform. Not that hard.

You're never too late and anything is possible. I mean look at Coca Cola. That shit dissolves teeth in 3 days and is used to clean blood off the streets, yet it's more consumed than any other beverage in the world.

My personal preference is for ideas that can find traction immediately and become profitable with little effort. I would recommend you leverage your strengths and create something that could be adopted in the next few months. Shorten your timeline.

As far as micro governments... who exactly are you going to pitch this to? Governments won't like it. No institution is going to back something that implies its demise. You going to go around to local neighborhoods and try and convince them why you should use their fake internet money? I don't know man... if you can make it work, good for you. I have no idea how that would happen though. Doesn't mean it's not possible, just means I don't know how it would work. Good luck.

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Thanks, I enjoyed your article , I hope you are wrong because I would like to make some money at some point, but will just have to HODL and see what happens.
Sounds like you are depressed though, I recently wrote an article on depression. Maybe you should go check it out?

https://steemit.com/music/@chickenburger/in-memory-of-chester-bennington-lead-singer-from-linkin-park-r-i-p

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Nah I'm good. I'd rather be depressed.

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Lol fair enough.

Some brutal honesty here... I think. Who is to know. I don't know you. I follow way to many so don't really check the feed often. Just happen to stumble on this post. In the early stages of planning vacation in Phuket. Sounds like its going to be great.

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You got to read one of my masterpieces AND you're going to Phuket? You are one lucky individual

I very much enjoyed your post, that was great just a question please, if you have a minute of your precious time. What do you mean with steemit is just another cash grab? My account did not cost me a penny and not planing to spend any and still taking advantage of a such great articule you just posted. By the way I bought Litecoin no as speculator but as a believer that crypto is the natural evolution of money thanks for the news.....

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The old way:

Be a developer
Create a web site
Try and put a profitable business on that website

The new way
Be a developer
Create a website
Invent your own "token" on the "blockchain" and tell people it's worth real money for some reason

I like your post which is blunt but also sees light at last...are you into a projects? contact me via steemit chat

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I don't use Steemit chat. My Telegram is @goldenkingmidas

How did you get into PR for crypto?

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Simple. You Google a bunch of crypto companies and send them an email telling them you do PR

@yallapapi, are you on discord or steem.chat? I would love to pick your brain on this. I was approached by an ICO group and would be interested to get your perspective.

Don't give up on the ride before it even starts, my man.

It might be wise to stick to your original, gut reaction, that this is a major wealth transfer event and keep at least a bit of your investment on the table. Think about it, if this is THEE wealth transfer of this century, or, hell, of the millennium, do you think that the total market cap is going to top off under $1 trillion?

I turned under $20K into over $1 million on bitcoin before and I'm fairly confident that I can turn a $20K bitcoin investment into another cool mil today.

It's just going to require patience, A LOT of patience.

Thank you for this topic

Netter Beitrag, an den ich mich erinnern werde;) Ich werde dir folgen, hoffe du tust das gleiche;)

If this bear market means that the number of ICO's drop and some shills give up and do something else, it's all good! :-)

Mastery of work is the basis for any successful person and ambition and laziness do not know his way

First I wanted to tell you to take a deep breath. You need to calm down to be able to see clearly.
I’m not an expert in crypto, I’m just a Compliance manager in a big investment company.
The only investment I made was$45 that I paid to open my steemit account. On the other side, my husband has a lot invested. I am glad that I put cap on the amount that he could invest.
The idea of decentralization was great in the beginning, now it is the big problem.
The SEC an FINRA rules created for the investment market were created to protect the public.
The government could intervene in a moment of crises, what is different I the block chain.
But one rule I learned in the stock market is that you only loose when you liquidate.

after this meme I will eliminate my steemit account and take my eyes hahhahahahahahaha

I feel the same way too about the coming up of so many ICOs, and it really devastating to think that the supposedly solution to wealth distribution is here but what I think now is that this becoming like more towards centralized money making machine of the rich and the powerful ones.

your point of view isn't the whole truth. That was the case in late 2013 but now there lots of usable constructions in crypto universe from technical piont of...

Personally, I hope all currency economic systems crash/fail/end. It's time for a non currency economic system. Perhaps Resource Based Economy? Something that has NEVER been done at a global scale because it does not allow for self interest profiting.

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We all need to be hopeful@faithwhite

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blockchain is not a currency, it is a distributed ledger technology. it could be used to deploy a resource based economy, whatever that means.

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As long as it does not turn towards what we have today. Wall Street is already trying to get hands into Bitcoin. With that aside, if we can keep the advancing technology of things and IoT out of the hands of the ones holding tight to this currently corrupt monetary system, they perhaps. RBE is an economy based off of resources and distributed like if you were to check out a book at the library for things desired. Instead of consumerism and ownership, we have usership or share programs. If you've never read or watched any words of Jacque Fresco (termed the meaning RBE) might I suggest a quick search on him?

Sometimes all you can do is ride it out. Cheer up it's all based on thin air just like any other currency.

If you have all the time to write this post about the 'shitty crypto', then you aren't going nowhere. We are all in this shit together will ride out the storm.
Cryptos to the moon.

Every time i buy any cryptocurrency, its rate started downward 😣
what the hell is this market, i am unable to undrrstand 🙄🙄

I think the crypto market is shit and going to go deeper into hell. But I'm not a master of it at all. However, it seems most of the masters of it aren't masters either, just risk takers with a lot of money and friends.

That being said, my intuition tells me that things are being leveled somewhat for a new growth spurt with new technologies and ways of using blockchain technology in different ways.

For instance, Steemit is very powerful platform. I think it's far more powerful than realized by anyone. But for the most part it was a scheme in a way and it paid off. Because folks have been focused on the money part, few realize it's actually a viable backbone for something like a real local economy. If someone cloned this and made some adjustments, it could be an economic/communication framework for a Mars colony for instance. Elon Musk would laugh though.

Other infrastructures can't do what this has done, despite corruption and how broken it is. Do we realize this emulated reality, the downtrodden, the 1% getting richer. This is a virtual economic reality simulation, live.

So, what we are seeing more now is a lot of new coins and social networks happen like minds and medium trying to find equilibrium. I'm not a smart person in any sense, but my gut tells me that the internet will move away more and more from corporations like FB "allowing you" to use their services for free (how nice of them) because other good ones make you pay— to an internet where if you're not paying people for their time and effort, your company is screwed.

In order for this to happen, people need to get into crypto- governments need to get into crypto. People hate this idea but it's going to happen. It's going to crash enough for Nations to build their own blockchains and for poor people to be able to play too.

How to make a million dollars, figure out a way to make fluid commerce happen. You can make a million dollars dropshipping products from thailand through Amazon, then find a way to clone this blockchain and literally make it Internet 3.0 that everything is built on.

I didn't even make a valid point here...

haha.. #shitcomment

I know it sounds like a cliché but it sounds like it's time to HODL, and focus on some other "hustle" for a few months maybe?

I guess "the current recession" could be a good investment opportunity, I have not invested much, but I was thinking of actually doing a substantial investment now that the prices are finally a bit lower, man I just wish I was a bit more "precognitive" crypto is not going to disappear, but it feels very hard to predict the market right now...

Thank you for your post it was very well written as always!

Cheers!

I think crypto currency is nice to have since the regular Fiat currencies of the world are getting a competition... meaning the bankers are loosing control...

Informative Artical.
Would like to Follow You on Instagram.
👌👌👍

After this person stops selling. It should start going up again. Check the below article link:

https://www.zerohedge.com/news/2018-03-17/bitcoin-tumbles-after-mtgox-trustee-denies-massive-sales-affected-price

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I agree. For the Ico you need a team and a good bullshit idea. I want to help!

I was in a simlar back and forth today about what is really going on right now and about how so many people drank the Kool-aid and don't have a clue. it is tough because people want to believe in something. I keep saying it is better to accept it now and figure out hoe to work it based on what is real, as opposed to setting yourself up to get hurt. Then I get accused of being a non-believer. No I just have decades in this and saw the exact same thing happen in the late 90s. Anyway, sounds like you got something great happening. enjoy it and the girls and the beach my friend. It's all good.

Hahaha. I like your "no bullshit" approach to this write up. Cryptocraze moments.

Haha...btc down go to bitmex and play short :D btc up play long. Trend is your frend.

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whats your prediction about btc, it will go up within week or month ??

Mmmmmmm the word , bubble has been used in connection with Bitcoin than any other word that you would think bubble is a synonym of bitcoin but alas the cypto world is waxing stronger. The market is in deep correction and will soon recover, then , there will be a new tune

What else can i say, aside to back and take a cup of chilled water to cool off. Its all imaginable

Check out Jordan Peterson's work, you might find a way out of your depression. That's all I'm gonna say. Take care.

When investing in cryptocurrency, you have to have hard nerves and a lot of patience.
Unfortunately, many media spread panic and bring people to sell.
Just hold the coins and wait

I think the bubble might have burst. but there is no way we can tell what the future holds. I've been folloing bitcoin for quite some time, I remember when it hit $1000 the first time. I've lost plenty of crypto and Ive tried lots of things. What I can tell you is: stop doing it for the money. Do it cause you wanna do it and try focus more on enjoying what you are doing. Maybe use your promotional sales skills perhaps to help promote a startup that is not in the crypto space. I'm also a bit over crypto right now to some extent so I'm focussing on some of my other hobbies and trying to learn new things. Whatching your portfolio can become like watching the news,rather depressing, so I might suggest take a break from it. Also if your depression continues I suggest go see a psychiatrist you might be suffering from some sort of burnout. Hope things look up for you again. God bless.

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Honestly, if this is what the bubble bursting looks like, it would have been a hell of a lot worse.

Definitely no reason to put all of our eggs in one basket though - either in terms of what we focus our lives on, or in terms of money.

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I agree with the eggs in one basket. I know allot of whales are buying cars and gold now (or thats what I heard), but I let's see what happens. I think people know that right now there are other things that are better to keep your money invested in for the moment. Till things go back to "normal" , whatever that is.

great ida, and nice post bro.

first, you should study. I think leg of knowledge about programming and computer science is great sin in crypto business. You will led those others into hell.

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BTCBitcoin7624.980$-7.99%-15.26%
ETHEthereum502.618$-16.72%-28.43%
LSKLisk11.342$-11.37%-20.57%
NANONano6.766$-23.53%-39.47%
RKTRock0.103$-15.1%-27.47%
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you have done well

I'm not kinda person just to say HODL HODL HODL!
BUT!
even Dow Jones with 7000 billions of dollar market cap and more than a century old, has falls and failures!

I believe having such corrections mean the market is getting mature and responds to technical indicators. I just had a completely technical analysis on BTC and STEEM couple of days ago (you can see posts on my page)

Don't panic! decentralization is the answer for more power for people against lobbyists and wall street wolves

That's a good post actually. But I only can say it's true that is very hard to be rich.

This post has received a 44.05 % upvote from @booster thanks to: @yallapapi, @yallapapi.

Some prediction about crypto is bullshit, when I believe the predictor in analysis and I buy coin. You know what I get??? Like burning my money In the hell.

Wrong totally in prediction I found

Guys who bought BTC at ATH. HODL! stay in the Fight!

hello friend why not do blog in spanish for latiinos understand about this type of investment

You got a 36.68% upvote from @postpromoter courtesy of @yallapapi!

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BUY ON RUMORS AND SELL ON NEWS, The Golden Rule of Crypto. I find the image with the dad and son extremely sad. I joined the crypto community few months ago, meaning in the bad time. I am an unlucky guy in general and sometimes I feel that anything I get close too must crash down. Maybe it's just a coincidence. Anyways, I fully understand your depression and how hard is it when you see your portfolio dipping. However, I believe that crypto will go back again to the top this year. 2018 will be a great year for crypto. When a ship sale in the ocean, to reach the destination it may encounter several storms during the trip. Crypto ship is currently fighting a hurricane. We see lately many scam coins on the market. I remember Bitconnect and how many people lost their life savings with it... Some people committed suicide because of BCC. This dosent help at all as people have no confidence anymore in ICO (it all sound like shit). When ICO is launched it always drop below the price before release! What a waste of money to buy it on ICO price. No? In addition, lately governments started a real war on crypto to protect their business. The latest news is Google banning Crypto and ICO ads. Well, a lot of news and rumors and sadly everytime there is a news or rumors prices dip due to panic selling and unexperimented traders working with crypto. In my opinion, crypto trading is like a casino and people got addicted to it. So impossible that crypto disappear. What crypto market need now are real projects that become at the reach of our hands. For example, the possibility of buying and selling on Ebay, Amazon or even Alibaba with the top 10 or 15 cryptocurrency. This will give confidence to people as they see that crypto is not fictive. When I trade crypto it's just like buying and selling ILLUSION. Something dosent really exist. Now it's time that crypto becomes alive and becomes really useful. Sorry for writing this long comment but felt in need to say those few lines...

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But why would the chance to buy stuff at Amazon using cryptos be good for the crypto market?
I mean, why should an average guy first exchance fiat with crypto... just to buy something? Wouldn't it be much easier to just buy using fiat directly?
Those new ways to spend you crypto will likely only be used by people already in the cryptosphere. But for rising prices, you need new money in the market.
There has to be something that makes Mr. Joe Average wanting to buy cryptos, as he is able to use them for something, that fiat can't do. In the moment, I don't see much like that, but maybe i'm wrong here.
And the illegal uses (buying drugs, laundering money etc.), that are one motor of the crypto markets won't exist forever.

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The main problem with Fiat currency is that you need to use your Master card or visa card, meaning a lot of fees and long transaction time. With crypto, these issues dosent exist as you don't need to involve your bank in it. Not to mention that if you are from europe and you buy on japanese site, in addition to you the credit card fees you have to pya the money exchange. This is also solved with crypto as you can pay with the coin accepted by the seller (BTC for instance). Another very important thing, with blockchain technology you can track all transactions that happened on a coin and in some cases history is really important. Anyways, this is what I believe.

now day this is good a qustion

Actually I'm completely new to this site but I too am disappointed in crypto. Not because I'm not making money (really, who fucking cares?) It was the POTENTIAL that it had to fix our world, to take the power away from the manipulators and put control and something akin to equality and integrity back into a system that is so essentially broken that it is indeed Humpty Dumpty. None of the kings horses and none of the kings men can put it back together again. But I quite honestly and naively thought that crypto could. And that makes me sad. Like everything else, it is owned by and controlled by whales. So unless you were the lucky geek who was ahead of the curve, crypto is likely to have little affect on your life. Another derivative that will crash the economy and leave more people homeless and hungry. Saddest thing ever.

From your writing I am very interesting and very useful to me ,, thanks and I hope you always make the next article about krypto iformation

I have been perusing and expounding on crypto speculation standards and needed to take a break, so I searched for a 'blog' drifting post. Prepare to be blown away. Crypto tails me! Haha! A debt of gratitude is in order for sharing these Info

Yeah, maybe they think that it is too risky when we mention about BITCOIN @yallapapi

This shit is real af. Can I buy your ICO if it goes live though? It's gonna moon right

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You can be the CEO

verry good post @yallapapi thanks

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Think about those who started in earlier days. They have faith in what they believed in. I have faith in what i started with.

I wish you the best and much success for you. What you publish is a great contribution, it continues like this. Thanks for sharing it with us. I will be following you.

Thanks for sharing these information. The current position of cryptocurrency is not that good so investing would not be wise if you don't have enough knowledge about it

Hmm, great idea!

I guess, if we treat bitcoin and crypto like a magic pill that would end anyone's poverty then that's the end for him. It's always the stupidest thinking to think you've won the fight without even starting. Just like crypto, if someones thinks it will make him millionaire in one night, then he's so stupid.

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If you already own 999,950$ it is easily doable! ;P

Excellent Post!!! Sure this shills did not liked the nice project fully functional ziber.io
Go on with an ICO. Need ideas...

great Post .... :)

jejejje really :V

Cryptos down right now, but it flies down every January. The overall market cap is up, and I think the down is pretty good. The reason why being so low is good is because it will really start to show who the ICOs scams are, and who the really one's are. The problem is innovation, and ICOs are not doing a lot to innovate. However, this is just like the 90s, and how lots of websites started, but only a few survived.

Just terrible. Who reads this crap? Sorry that you hear this from a stranger from the internet.

simply hodl

Why Everything You Know About Investing In Crypto Is Wrong

A write the inspiration me, thanks for sharing Mr, @yallapapi

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me parece que toda esta charada fue como leer el diario de una quinceañera despechada, que quiso hacer dar una clase de inversión o contarnos que se deprimió por ganar millones?? joder todos los mercados tienen sus pro y contras y la mayoria aqui solo espera ver resultados ya veremos que carajos dira a partir de julio...!! esto es un mercado de oferta y demanda todo tiene un punto de quiebre en algun momento

you are so inspiring sir. I will become like you someday. thank you for this content.

Wow eye-opening​ buddy, appreciate the honesty.

When markets were at 800 Billion U$D MC, i posted to SELL everything. In my last post i spoke about new lows. Big names will always keep you confused, and make videos and statements after things happen.. dont trust them, do your own research, dont be fooled by them.... They are no different then the mainstream media.

Very good article and given it an upvote, keep up the great work!

I think people are flocking to crypto because they see it as the new gravy train, I believe there are more ways that wouldn't be as stressful!

Hi @yallapapi, upvoted and followed you.

after reading you words, I feels that you are a real blogger. your content are good.

follow me at @kumarbishnoi.

So you've bought some cool coins to some incredible vending machines they've not finished constructing yet? And you're wondering how to mess around with them, juggle them and stuff to make this 'fast money' supposedly everyone else is making.

Investment = time.
How can you expect to get rich overnight? Bitcoin is up and running, and they're trying to make it faster.
Most of everything else including Ether? Early days.

New bubbles are coming. So hodl on and keep reading and waiting.
Join the communities of projects you believe in.

My friend convinced me to start trading. I accepted, and it's now more than two months that I am waiting for my accounts to get verified.