Let me red-pill you on what I've learned after a year of market study and networking and you can tell me where I'm wrong...
>The market is gamed by algorithmic trading >The algorithms are embarrassingly simplistic >These algorithms create patterns in the charts which 'TA gurus' then disseminate to their followers >Technical analysis then becomes self-fulfilling, if not further manipulated to break or fulfill the patterns >This works from the lowest to highest cap shitcoins
>Ethereum is broken and will probably never be fixed, but suffer and slow and tedious death that will be accelerated as wider adoption occurs. >EOS is destined for a similar fate but may have a longer lifespan as having just begun to see development. >With the exclusion of Bitcoin, no blockchain in existence supports a decentralized yet scalable ecosystem for mass adoption/development.
>The SEC does not fuck around. >The SEC's jurisdiction extends around the globe if any US investors is involved. >This gives the US government the right to prosecute any ICO they deem fraudulent if they took money from US investors. >This accounts for most shitcoins. >They will be pursuing litigation against these ICOs over the next six months. >This is already happening to domestic ICOs; I.e. Shipchain.
>The NSA has been tracking all Bitcoin transactions since 2013 >Anonymity for cryptocurrency is a joke >Privacy coins are a meme
What am I forgetting? I'm not sure yet.
>Jow Forums is the normie-tier layer of cryptocurrency and will never exceed beyond that despite the whales that lurk this board...
>Most if not all influencers are private shills and will probably be sued retroactively for their shilling once a stronger regulatory framework is introduced...
I've been in crypto since 2013, and have been a member at NuclearPhynance and other places quants and real traders frequent. The only thing that I can tell you for certain is that nobody knows wht the fuck is going on, or where it is going. I'm bullish on Ethereum. Bitcoin transactions are tracked and there are tools to zoom in on transactions of interest. Thats part of how BTC-E met its downfall.
Nice write up. What's beyond /biz? >Jow Forums is the normie-tier layer of cryptocurrency If we're normie tier than what the faggot is Reddit?
Michael Gutierrez
Ok I’ll bite. You say SEC will crack down.
ICO registered abroad, some US investors - how do you intend this to work?
Gavin Cox
Correct on most counts except: anonymity does not exist. I won’t go into more detail because I don’t want to get V&.
Ian Robinson
>With the exclusion of Bitcoin, no blockchain in existence supports a decentralized yet scalable ecosystem for mass adoption/development
Skywire isn't just a decentralized platform/ecosystem (and not only a coin) it is a whole new internet on which the ecosystem will exist. The NSA can't spy on you on a network that is designed to work like a TOR/VPN from the getgo.
Check my skycoin thread if you're looking for a redpill, shit's legit
Adrian Cruz
This is exactly why Bitcoin will never hit $10,000 in this lifetime.
James Flores
So I don't think you're entirely right by saying that no one knows what is going on. Market makers in traditional finance know what is going on. They can swallow the market cap of cryptocurrency at will. The issue is deep liquidity right now. Any movement creates too large of a splash. People who were made in crypto cannot diversify their wealth unless by OTC deals which are still rough to negotiate. However, projects like tZERO and trading platforms will remedy this. The existing crypto-oligarchs will either be bought or washed out through intimidation because they lack the caliber of sophistication/experience necessary to swim in these waters. I've seen this firsthand. If you want a clearer illustration, look at CryptoPuerto and the naive idealism of those involved. Figures like Brock Pierce will be further cast into complete obscurity as the suits entrench themselves and regulations come into play.
To an extent, you are correct, but there's also a lot of false confidence in anonymity and whether it will be possible as moving capital out of crypto and into fiat requires some gateway which entails registration/identification. If you purchase any commodities, you have to provide some form of ID or address. All the pirate/black-market networks are blown up as they expand. I just don't see how total privacy is feasible unless you're a nobody; in which case, who cares-- don't pay your taxes and watch your snuff films or w/e. Even VPNs can be doxxed...
The SEC has international jurisdiction. If someone hosted an ICO out of compliance in India and sold to foreign investors based in the US, the SEC can knock at the door of the Indian government and claim jurisdiction of the individuals involved. This exceeds to most countries. Just wait a few more months and you'll see what I'm describing. They're already investigating individuals and banks in the UK, which as the source for a lot of early BTC trading/manipulation.
You ought to remember there are several legitimate US SEC registered companies that have no issue and those that play ball will thrive.
Robert Martinez
Bitcoin was $10,000 less than a few months ago.... I'm not optimistic for $100,000.
Jow Forums is reddit-tier but I've gotten more reliable news off the subreddit pages of blockchain projects than I've gotten from Jow Forums.
Samuel Reyes
Right. I'm not saying the entire thing will collapse overnight. But, there are many ICOs which operated outside of compliance which are facing legal issues. The ambiguity of offerings now creates some issues. Many are already following the structure for STO's (Security Token Offerings) to stave legal complications. This will effectively shut-out non-accredited and low-level investors.
Daniel Ross
Traditional finance isn't in crypto, at all. People like Novogratz, or Cesares are as far from traditional finance as I am from being a professional basketball player. Traditional finance is dominated by an age cohort disinterested in cryptocurrency, but that will change over time.
You are the perfect example of what I mean when I say that Jow Forums is reddit-normie tier.
Adam Howard
Do you even understand what you posted? They invested in cryptocurrency exchanges, just like VCs invest in high risk startups like phage therapy or deep sea minerals. Traditional finance DOES NOT hold crypto directly and DOES NOT allow their clients to invest in crypto directly.
Luis Hughes
>Traditional finance DOES NOT hold crypto directly and DOES NOT allow their clients to invest in crypto directly. are you saying they already sold everything they had accumulated last year and that the bull is prepped?
Jose Reed
>Traditional finance DOES NOT hold crypto directly >being this naive
>2017, the accumulation phase pre-futures, "We don't want any part of this scheme and if you're involved or invested in any way then you're an idiot and a crook! >2018, post-accumulation and futures, "It's time to expand the gateways for fiat into cryptocurrencies. We're skeptical but we welcome change!"
