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RE: Vlog #52: The downtrend is real and Poloniex is not helping.
People have been calling cryptos all sort of things and have gone up because there is an elaborate pump and dump scheme going on. They do not understand that there are real businesses built on the back of cryptos by very smart people. It does not matter,
With Great Risk Comes Great Reward - T. jefferson
When BTC is back at its high, setting new records and seeing the next generation companies running on blockchain technology, people will think again and without second thought jump on the bandwagon.
Enlighten me my good sir, what "non-illegal" and "profitable" businesses are as you say:
I did not mention "non-illegal" or "profitable" businesses. But there are businesses built on the blockchain, Steemit being one. Others include Funfair, Populous, TenX, Iconomi, etc... So already you have a list of varied businesses with some in operation and other coming online soon. Their profitability is to be determined down the road and all dependent on the success of their business model.
Steemit is a business built by some very smart people on the back of cryptos.
Is Steemit profitable?
As far as I know, but It's a privately held company so the P&L isn't released.
That would be a question for @ned.
I guess Steemit would be one? BTS? Maybe Coinbase and the exchanges?
I guess it depends on how you define profitable.
Coinbase doesn't count, they are the smart ones, making money whether or not the market goes down or up. If you ever wanted a surefire investment, always invest your money in the house... it always wins!
Ah, yes, I learned that in my years supporting my self playing poker.
The rake is the only sure bet in the house.