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Sunday, 07 January 2018 06:51

Crypto Bad Players Featured

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My guess is that by the end of January 2018 the coin named Bitconnect will no longer be.

Hard core believers in this coin will have a rude awakening when hey shut it down but shut it down they will in my opinion.
This reminds me of Enron which also was a target by the Government.

The US state of texas issued a cease and desist notice just prior to the UK government deadline date to show proof by the 7th of Jan. that it's has a ligitimate income stream.
I expect that this coming week will bring down Bitconnect as it's quite clear that increased pressure from government officials will presure the UK to take action.

Hard core believers will be out in the cold as no matter what evidense is presented to them they still think bitconnect is bullet proof.

This event may scare others out of the Crypto markets as it is quite a sizable amount of money at 46 billion USD which is invested in this bad boy coin.
There have been many stock scams in the past which did leave a bad taste for many but things always moved on.

Are there other scam Crypto coins? Most likely yes there are as it's very easy to start up a new coin.
There are many companies on the OTC which have no product and never will have one.
But they exist as the FTC does not spend much time investigating the OTC.
Very liitle money there to interest them.
With Crypto coins there is no one regulating them.
Coin startups don't need much money as they can use the coin they issue to fund expenses.
All they need to get off the ground is to be listed in an exchange.

I for one check the website of a coin and if we see penny pinching at this level then this is a bad sign.
For instance if it's hosted in a University or low cost hosting company.
I have found one that was hosted in a university - seems they didn't have permission as it was shut down.
Was this coin started by university students which managed to get the website on the university servers?
Maybe it was a good try by some get rich quick scheme cooked up by students.
I would think twice to invest in a coin which has a site hosted by Godaddy as I would expect they would have their own server and not a shared hosting account.

Investing in Crypto coins is no different than investing it the stock market.
Your either going to invest long term or short term.
I prefer long term and try to find long good solid term gems.
Invest wisely and stay away from get rich schemes.

Read 3401 times Last modified on Sunday, 07 January 2018 08:00

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