Latest posts of: iconoclast

Day#44: (24/05/19)

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I would not bother with this one. DGTX provides a zero fee exchange by constantly issuing new tokens to cover their expenses. That sort of model is highly inflationary and over time will drive the price lower and lower. You have a near zero chance of the coin going up in value since people will always be able to buy new the tokens at a price fixed by the owners of the exchange.

You already have something similar on Coinmarketcap. You can check exchanges by their adjusted volume or reported volume. Since crypto exchanges are largely unregulated it is very tempting for exchange owners to have a bot do wash trades to increase their volume and thereby the listing fees they are able to demand from new coins that want to capture some of that volume.

The bear market beat down the values of all coins, the good and the bad. Now that we have entered a bull market phase it is easier to see the ones that won't have a future. They are the ones that are still trading at their lows. The reason they have not risen in value like most of the top coins is that no one sees any value in purchasing them. If no one wants to own them then they are effectively finished.

Quote from: rationaltechoptimist on May 13, 2019, 09:08:28 AM

If upfront costs are low and there is revenue sharing model, would you like to start your crypto exchange and test your marketing/non-tech skills?

To be perfectly honest I think there are far too many exchanges and not enough good decentralized ones. If I could find a decent decentralised exchange that lists every coin and has reasonable levels of trading volume I would simply trade at that one exchange and forget about all the others. I have accounts at over 50 exchanges and my reason for opening the account in almost every instance was they were the only place to trade the token I wanted to trade. This industry needs consolidation not expansion.

Quote from: MOProgress on May 18, 2019, 09:03:30 PM

Time to time, we big financial players diving into the cryptocurrency industry, now big banks around the world want to invest $50 Million into cryptocurrency. According to this news... https://www.cryptoinformers.info/news/143-banks-set-to-invest-50-million-in-digital-cash-settlement-project

What do you think $50 million will add to this multi-billion industry?

$50 Million is not a great deal of money. I have seen many ICO's that have raised much more than that. What is however significant is that the banks are creating their own blockchain to handle settlement rather than using an existing block chain like XRP that we have been told for a long time is the coin that all the banks will be adopting. It would seem that rather than pay for someone else's overpriced coins the banks would rather mint their own.

I think many of these new methods of raising money by issuing tokens are lulling investors into a false sense of security. While the switch away from ICO's may eliminate one of the most egregious types of fraud. Namely using a fake identity and then running away with the money, it will do nothing to prevent fraudster like Andrew MacDonald from perpetrating a longer exit scam.

The project that I have been favouring are projects that are exploring what sharding technology can do to make blockchains faster. I have taken the approach of not putting my eggs all in one basket or trying to pick the one that will be the biggest winner and instead have been investing across the sector. The other areas I have also been favouring are projects involving exchanges and ones in decentralised gaming.

We have been in a Bull Market for cryptocurrencies since the beginning of the year. You can only see Bull and Bear Markets in hindsight. How high it will go and how long it will last is hard to say at this point. But if past history is any guide it will likely go higher than the previous high and when it does finally turn to a Bear Market it will not go lower than the previous bottom.

I think the problems with Waves is that it is so easy to issue tokens on the platform that many really useless tokens have been created and that has damaged the platforms reputation. I have about 50 different wave tokens in my wallet that I never asked for, they are just spam that got airdropped to me. The spammers did not even bother to give them decent names. They are called Atoken, Btoken, Ctoken, Dtoken....etc.

Quote from: mayax on March 19, 2018, 09:53:24 AM

- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.

- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.

- hackers who hack websites, wallets, exchanges, smart contracts

- scammers of all kind

- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals

- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.

- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.

- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.

- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.

You make some valid points but that is the nature of unregulated markets. Big Brother is not here to save you from your own stupidity. You need to do your own due diligence before you invest and take personal responsibility for the custody of your coins. If you are lazy or stupid there will be people who will take advantage of you. I assume everyone is lying and only believe the things I can verify and never leave my coins on an exchange. If you don't have the private keys they are not really yours.

I would say hold your BNB, at least for another week. Because by holding BNB you can participate in one of the most anticipated IEO's this year. Harmony is doing their offering through the Binance Launchpad and to participate you need to hold at least 50 BNB in your account over the next 7 days. Here is all the information if you are interested. https://binance.zendesk.com/hc/en-us/articles/360028476111-Introducing-the-Harmony-ONE-Token-Sale-on-Binance-Launchpad