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SVTPerformance's Chain of Restaurants
Road Side Pub
Altcoin Discussion
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<blockquote data-quote="velocicaur" data-source="post: 15803878" data-attributes="member: 33335"><p>LOL.</p><p></p><p>I'm glad I am out of it now. I am not going to touch it again.</p><p></p><p>The more I look and think about it the more I don't like any of it. I am convinced the whole thing is rigged. The lower the price goes the more the big boys are able to control it. Too much manipulation by a few people. No regulation. Etc.</p><p></p><p>Futures control the market. Nothing will happen until they turn up and it might not happen due to price fixing. People cashing out at high values and then putting sell orders at extremely low values. Make money on the way up. Make money on the way down? Is that possible? Rinse and repeat. </p><p></p><p>The exchanges are absolutely bogus. Randomly shutting down or locking up coins. I have 100 dollars in ADA on binance. It's been locked the last few weeks. Withdrawal is suspended. I tried to exchange to ethereum to get out of it. "Exchanging was open." The trade "happened" but I never received ethereum and my ADA is gone. I mean, on Binance of all places. I'm never going to get that back.</p><p></p><p>Last but not least, all these alt coins are just garbage. Random apps and "ideas" using blockchain. They try to toss it on any feasible market but there is nothing behind it. Dentacoin worth a billion. LOL! All of these "white papers" are just pipe dreams. Q1 - Establish some new thing. Q2 - Expand new thing to the market. Q3 - ????. Q4 - Massive profits for everyone. A bunch of artificial value that is riding on absolutely nothing. </p><p></p><p>What prevents the founders behind the ideas from accepting a payout and just screwing everyone. Let's assume on of these is useful. Something like a market cap of 500m plus... say Dentacoin. Someone walks up to them and offers them 10M on the spot. The owners take it and walk. What would stop them from doing that? Nothing? The coins have absolutely no value after that? "Money is just gone." Something like bitconnect. Litecoin - CEO cashes out at all time high. Peace out guys. Good luck. Value has dropped in half. How is that going to recover? What kind of CEO would give up his whole share in his idea and company. I think that is only the first of many.</p><p></p><p>Of course, this is just my opinion. It is a pretty pessimistic one at that. I mean, I made some money over the last month which was nice, but I just don't see these alt coins being of any value long term. Internet start ups of 2000 all over again. Crash and burn.</p></blockquote><p></p>
[QUOTE="velocicaur, post: 15803878, member: 33335"] LOL. I'm glad I am out of it now. I am not going to touch it again. The more I look and think about it the more I don't like any of it. I am convinced the whole thing is rigged. The lower the price goes the more the big boys are able to control it. Too much manipulation by a few people. No regulation. Etc. Futures control the market. Nothing will happen until they turn up and it might not happen due to price fixing. People cashing out at high values and then putting sell orders at extremely low values. Make money on the way up. Make money on the way down? Is that possible? Rinse and repeat. The exchanges are absolutely bogus. Randomly shutting down or locking up coins. I have 100 dollars in ADA on binance. It's been locked the last few weeks. Withdrawal is suspended. I tried to exchange to ethereum to get out of it. "Exchanging was open." The trade "happened" but I never received ethereum and my ADA is gone. I mean, on Binance of all places. I'm never going to get that back. Last but not least, all these alt coins are just garbage. Random apps and "ideas" using blockchain. They try to toss it on any feasible market but there is nothing behind it. Dentacoin worth a billion. LOL! All of these "white papers" are just pipe dreams. Q1 - Establish some new thing. Q2 - Expand new thing to the market. Q3 - ????. Q4 - Massive profits for everyone. A bunch of artificial value that is riding on absolutely nothing. What prevents the founders behind the ideas from accepting a payout and just screwing everyone. Let's assume on of these is useful. Something like a market cap of 500m plus... say Dentacoin. Someone walks up to them and offers them 10M on the spot. The owners take it and walk. What would stop them from doing that? Nothing? The coins have absolutely no value after that? "Money is just gone." Something like bitconnect. Litecoin - CEO cashes out at all time high. Peace out guys. Good luck. Value has dropped in half. How is that going to recover? What kind of CEO would give up his whole share in his idea and company. I think that is only the first of many. Of course, this is just my opinion. It is a pretty pessimistic one at that. I mean, I made some money over the last month which was nice, but I just don't see these alt coins being of any value long term. Internet start ups of 2000 all over again. Crash and burn. [/QUOTE]
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