One year of crypto and?
Dear steem-bountiers
just one year ago, after the big affair of bitcoin bubble, where all newspapers and televisions was talking about, i joined in this crypto world and now i can say, another time the system got a fish!
Yes my friends, i already have experience of such situations and when televisions and newspaper starting to talk about some business, is time to get phished by the system!
It happens me the same in the end of 90's, in the same kind of bubble, named internet or web bubble.
In that time there was first time used Start-up words, which was meaning that some company start to get stock exchange market and in that time it born Nasdaq, which was the new stock exchange market for new companies, most of them connected with World Wide Web.
When i bought some of these shares, the company was involved in making optic fiber and it was seems the best investment for all says internet will be the future and nothing will be drived without.
The truth was half, because is true that internet get total explosion, but it is true too that only globalized company get really advantage and become strong, the rest has been disappered.
So WTF i have to do the same mistake after this experience???
Simply, because i was believing that crypto is the people power against system.
It was for me just like the life essence, how it could be first time in the human hystory that people can win against system?
Unfortunately it was just a fairy tale...
In the other hands i discover that crypto world is full of scammers, 100% of promises of last year end become smoke and now crypto market cap is a 20% of what was one year ago.
And who lost tears and blood?
You think everybody?
No my friends, only people like me who believed in this sentence, crypto is people power!!
Now when you hear about Ico, the hairs become like when a cat see a dog, so you can see how much Ethereum loose??
They was the promoter of Ico freedom and what is the result?
Thousands of people scammed and now value of ETH is 10% than was one year ago.
Everything is because when people have power, most that coming out are the liers, who have no problem to stolen others money, who have no problem to see their fucking face in the mirror in the morning!!
In one year i can count minimum 20 scam experience, from cloud mining to Ico's, from Hyip to dead coins, so what else i could expect from this crypto world.
Let say luckly i did not put all my saving into this world, because i am lucky that my country have stable fiat money, but what about Turkey and Venezuela?
I think most of tears and blood are coming from these countries brothers, because their goverment made their saving value becoming half than half, so many who have no possibility to buy strong fiat coins, believed in cryptos and now they are even worse than what they could be with their original saving.
I would like to get exchange opinion from who can give me some different view of my bad experience and as usual i will put a bounty.
Thats why i would support my beloved community of @steem-bounty.
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Thanks for dropping by my blog and leaving a comment. I think year 2018 and part of 2017 was the time of ICOs hype. While there are many projects that have good ideas, a fair share of them are scams.
Even among the good ones, the bear market is causing their progress to slow due to lack of funds. I think 2019 is going to be a difficult year for most of them. Good projects that cannot get extra funding is likely going to collapse.
Due to the failure of ICOs, STOs will get a lot of hype when they take off.
Posted using Partiko Android
I come from a country where scams are a pretty much all over. I don't think there is anything inherently easier about scamming in crypto than it is scaming in fiat. The scam ICO's of last year were simply a greed fest and if you didn't do your own research thats on you as the user. We always call for regulation when we get burned.
Thats not what decentralisation is about, we need to stop relying on 3rd parties to think for us and make up our minds and take ownership for our actions. Yes it may be an expensive lesson to learn but one I think many need to learn
ICO 95% is a scam, the remaining 4% is a 100-fold drop, the transaction price is less than 1/100 of the ICO price, if your ico win crypto with you really too great.
Dear my friend, but in 2017 It was not like this, why?
Posted using Partiko Android
Uh ah!
2017 is not!
Is it because of me?
I joined in 2018, I big Laughing!
Because too much ICO in 2018.
crypto currency Most are fired up,
Big BOSS change their coins form right hand to left hand,
Plus quotes Finally mad,
Fraud
Friend @intellihandling
Surely many will contribute interesting comments to your publication.
Others will not be according to your approach, it is normal.
Coincidentally I also have a year in the world of cryptocurrencies, I met them in December of 2017, I am also from Venezuela, so I know perfectly what you are talking about and your concern.
Although I am currently living for 5 years in Bogota, Colombia, I can tell you that you are quite right in what you say.
From Venezuela there are many users of steemit, now less after the HF, and with the fall of the prices of the steem even more they spread their many well-known accounts.
It was a good source of income for many.
In my case, I studied trading, but with the fall of the market it became much more risky than it already is, and I got to steemit where you do not necessarily have to invest, so I write, I publish, but not for the purpose of producing money, because I know there are other conditions in steemit that lead to that, and particularly I do not have time to "hunt whales" to vote for example.
Getting rid of the system is complex, I do not know if at some point in history it could be, the battle is hard.
But you have to know and know the system so that you do not run over us, or at least not as often.
It is always the powerful who dominate the markets.
Regrettably.
I was a lot younger when i knew about bitcoin and other alt coins however being young was a disadvantage to me since i knew that bitcoin will reach high prices ome day before settling in and at that time i did not have a computer either so mining also wasnt an option 2-3 years ago i started to wonder what the best coin for use would be and everytime the answer was dogecoins the fast transaction rate and low prices + low fee made me kinda fall in love with dogecoin 😂 i completely changed my bitcoins (or what little i managed to get from faucets) to dogecoins then i started to invest them to see if it is a good idea turns out almost all of them were scam then i came across steemit i had a phone by that time but internet was not an option not to mention the camera quality was bad i had signed up and forgot about steemit for a while then i suddenly found a way to get more data for less prices which allowed me to interact on steemit (might be unrelated to the entire post but somewhat relateable) now my favourite crypto currencies are dogecoins and steem and you can see i love using dogecoins the way it is intended to be used for i have also recently found a great community of dogecoin lovers on telegram where dogecoin is used to tip users rain and also used in fun trivia games.
In conclusion what i am trying to say is if you use a cryptocurrency for its intended use the price of it will stabilize
Posted using Partiko Android
Many great projects actually fell more than 95% of the high. I was only a kid when the dot-com bubble happened. But I've studied it and the bloody thing was bigger than the housing bubble of 2008. One of the best things about the bubble pop was that all of the FAANG stocks (except for FB which wasn't around) and many other large behemoths we see today were utterly wrecked. People didn't know the value of them. They sold off everything in fear.
Like you said this is a good time to fish. I'm not sure we'll start a bull run yet. It could take Q2-Q3 2019 and I wish it'll take some time so that I can acquire more crypto.
I hope many people will take your advice and do the right thing. I only started trading in 2017 and I've already gone through a full tour of investment stress and it helped me in many ways. I don't think even a sport can give you discipline, patience, rational thinking and many other qualities that a good trader gain in a turbulent market.
I think we can take 2 important lessons from your post:
1- It is inevitable that the more power people has, the more chaotic the world becomes. I know it doesn't make sense, but history proves that...
2- Losers in crypto are the ones who sold their coins on the way down, not only it shows they don't understand about investments, but also they had no idea what they were investing into. So when you ask "who lost tears and blood?", I would say, only people who didn't make their research.
Couldn’t agree more! I think crypto needs some kind of regulation or centralised authority to stop the scams and greed. Oh wait! Is this not what we were trying to get away from...
Posted using Partiko iOS
Even I got into the crypto world in January this year. I know this space has a lot of scams but there are also very good stuff. Like rise of Security tokens, use of ripple in international payments from any part of the world to any other part. Crypto is also empowering a huge field of passive income which make a really good investment irrespective of its price because people expecting long term gains are normally hodlers and therefore such people can succeed. For example, Take NEO coin which is POS coin, has a lot of potential but what is it's faith at present. It surprises me that people are not rushing to such coins. You can research why I am talking and appreciating NEO. They actually are a very different and special POS coin. Crypto has potential. If you think crypto is a get rich quick scheme, you are wrong. It is a wide field of passive income and real world benefits!!!