What's wrong with you people?!

[spartak_t]

The latest craziness is called BAT, which raised some USD $36 Million in 20 seconds. And now a day or two later comes with a USD $170 Million market cap + huge premine. People work for 20 years to buy a house (and this applies for a tiny % of the world's population, because for example, in my country (Bulgaria), a person with average salary will need to work at least 17 years and saves 50% of it to buy an apartment). Now every second 15-year old nerd who invested his lunch money in Ethereum (or NEM, or whatever...) some 2-3 years ago is now a f*cking godzillionaire and he can buy entire town. Not long ago I said we are in a bubble, but I was wrong. This is a f*cking disaster! Can you imagine the levels of inflation, which digital currencies can create? The great depression, Zimbabwe's inflation and housing bubble combined will look like a jokes. Maybe this was the idea behind Bitcoin. About 45 years ago Nixon ended convertibility of US $ to gold and it appears that after several years banks will "back" their fiat money with... Ripple or BallsCoin.

But hey, making money is a good thing, right? Enjoy the ride! 

[Boxxl]

LOL 
yes you are right

[btbrae]

Most of the ICOs I've seen have been a bunch of monkeys. Somebody is making a mint with these, the projects get a bit of development and then it all stalls and they disappear or dissolve. Look at how many projects have stalled, they leave maybe one developer on it and that's it, that's your money gone.

I was around for the dotcom bubble and the parallels are obvious.

I can tell you one thing I learnt back then...

Don't try to fight the stupidity. The ability for other people to be stupid is your opportunity to make money from them.

Also, we may not have even scratched the surface yet.

As someone else around here nicely put, when the shoeshine boy starts giving you ICO tips, it's time to sell.

[BTCwriter]

No one know what the world of crytocurrency will be in 5 or 10 years, but is sure a lot of millionaire and billionaire creating in a daily basis here. So, enjoy it or turn off your computer and walk away?

[spartak_t]

Not that I have tried getting in on any of these 20-minute ICOs, but, at this point, it's also important to start looking who is behind the projects.  The days where one would just look to see if the people behind a project are established in Cryptoland are over.  We got folks that could easily get a gazillion bucks going the traditional route that are intentionally giving the finger to the status quo.  Sure, us peasants can't get in easily and distribution sucks, but funding goals are achieved (which will make the tech a reality) and, hopefully, better our lives.

Better how? Making money out of thin air is creating inflation. How's that better? In the past few years I was trying to avoid everything, which I don't believe in (like all these ICOs) and missed millions of $, but lately I started trading again and made my 3-month salary in like 10 days (few hours in trading combined). I'm happy with what I have, but I'm also pretty scared and it's like I started to hate digital currencies, because now they look much more different...  

EDIT: And I started not to care about what will happen in future. This is wrong... very wrong...

[befrank]

Yes, you are right. At the rate the money keeps flowing in crypto, we will see a shift towards an economy empowered by the people. Not a person or a board of directors will decide the value of a company but the crowd.

[SimmonenY]

Well, those teenage nerds create a world for themselves in the future. We all admired the freedom and easiness of cryptocurrency now it's time to face the downside of it.

[Red-Apple]

Can you imagine the levels of inflation, which digital currencies can create? The great depression, Zimbabwe's inflation and housing bubble combined will look like a jokes. 

this is actually a very good point! and it is a bit scary if comes true.

but here is the question, how many are even making profit from these? mostly in total?
i don't think there are that many people who invested and made any real profit from these pumps.
* a lot of them sell soon and buy back when it is higher and get dumped on and actually lose money.
* a lot of them invest in ICOs that go to hell and lose a lot of money.

i guess we have to see how many are investing, how many are getting out with profit at the end of the day not with a bigger loss and just make a handful of pumpers rich(er).

[dissident]

It's not real until you sell it and withdraw into fiat. I've withdrawn $250,000 so far in my crypto adventures and still have $200,000 worth of cryptos.

[spartak_t]

It's not real until you sell it and withdraw into fiat. I've withdrawn $250,000 so far in my crypto adventures and still have $200,000 worth of cryptos.

That's true. Back in the days I was mining 130-150 Million TIPS with just 6 GPU's. That's like $3k worth of coins a day. Then in May 2014 I bought 7 x 60MH A2's ASICs for 48k euro and was mining $800 - $1300 (depends on prices) worth of coins a day. I've had 18k LTC, 3 Billion TIPS, 3 - 3.2 Million EMC2, 130k VIA, 340k VTR and 200K NOTE to name a few - all of them sold back in 2014, 2015 and 2016. Sold 200k BLK, which I bought for 1.5 BTC about a week before the huge pump and missed like $120k in potential profit. I'm not exactly like Laszlo and his pizzas, but still... Now I have a few favorites, but future will tell...  

[Proxik]

This is only NOW because of the market growing such hard!

Crypto is just a movement of money...There is no money making....When the market will stabilize in some years than there is no millionaire teenager anymore but just a x2 in a year maybe....enjoy it as long as it takes...we are all at the right moment just right now

[flash10101]

Ride the train as long as possible, but do not forget to lock in profits now and then 

[klf]

Ride the train as long as possible, but do not forget to lock in profits now and then 

It is a good suggestion. Always good investors will try to book the profits now and then instead of just watching the profit going up and suddenly if one day crash happened then these people will start worrying. I too usually book some profits but this time after I booked some profit the maximum pump happened and missed a chance to make more money but still got some coins so not so much worried.

[bitcointarget]

No one know what the world of crytocurrency will be in 5 or 10 years, but is sure a lot of millionaire and billionaire creating in a daily basis here. So, enjoy it or turn off your computer and walk away?

Good point!

It's not a human job to predict what's gonna happen in cryptocurrency sector next years, and also in long term. But, here the idea is simple. Make profit and withdraw as much as you can do.  

[European Central Bank]

It's not real until you sell it and withdraw into fiat. I've withdrawn $250,000 so far in my crypto adventures and still have $200,000 worth of cryptos.

this is the key. very few people seem to bother to make the link to the final bottom line. if it ain't spendable for something real it's nothing but numbers on a screen.

anyway dotcom bubble claims are laughable. this is nothing. 99.5% of the world's population still doesn't understand what bitcoin actually is, let alone put any money in. and only a modest percentage of bitcoiners have anything to do with alts.

if the people who are here right now wait around long enough they'll be richer than they dreamed possible. better secure those profits while they can though.

[chickenado]

For me this sounds so good to be true but i dont know this ico so im not countering your part,give me some links of their ico website and their future projects and all the information about their coin

[weggie]

Very good topic.
It's like Wall Street - by few clicks you make coffee cheaper, ruining millions of farmers.
Even stocks are in "to da moon" mood.

[TheCheek]

They are ,,, 

[TheCheek]

No one know what the world of crytocurrency will be in 5 or 10 years, but is sure a lot of millionaire and billionaire creating in a daily basis here. So, enjoy it or turn off your computer and walk away?

I doubt anyone has become a billionaire (in US dollars).

Quite a  few millionaires, though.

[couture]

as people have said its not real until its fiat... or until crypto buys products and services directly..


so it would be prudent to make a strategic plan for withdrawals and cashouts and stick to it

Plans built of maths fare better than plans driven by greed