Topic: Cryptocurrency crash is coming, warns Dogecoin creator (Read 1755 times)

And on that bombshell, whilst the Bitcoin waters ripple with the news, time to bug DOGE and wait for the rebound  

Nowadays, Palmer is one of the voices that warns about a possible overthrow in the cryptocurrency industry. "What is happening now in the crypto world is what happened to Dogecoin. I'm worried because now it's on a much larger scale, "reinforces the developer. Recently, he started doing a series of videos on Youtube with the goal of explaining to the beginners what is behind the technology and how the crypto-coins really work. In his opinion, this bubble "will burst as it did with the dot-com bubble, but on a much more epic scale."

They can have a crash in price, some established coin may fail, but the blockchain is already embarrassed by the world and will not only remain but innovate to fulfill a wide range of needs.

Their could be a crash, there will certainly be a crash. The actual price of all the crypto is only a reflect of the hype around it. It is a bright newborn market with no regulation, and a kind of new far west where anything is possible from scams to big revolutionary projects. Big bad news could effectively make the price of the cryptos fall down. Bad news = scared investor = selling = SELLING = SELLING SELLING SELLING. Nothing new here. I hold, would wait the crash to buy more and still hold for a few years. Blockhain is a revolutionary technology that I think will go mainstream. Time to invest !

It's certainly that crash is coming. we are in the dot com bubble.

after the crash we will see born of serious projects

I believe he has stated in the past that he doesn't own any Doge and that he didn't make any money on it.


Is enforcement of securities regulation propaganda or reality?

You guys don't want the Koolaid greater fool punch bowl to run dry because your greed exceeds your ethics (you're stealing money from greater fools and know damn well that all of the ICOs are scams which produce nothing of merit which have any utility-of-significance other than harvesting greater fools). You're "rational actors" who defect from civilization and prefer a tragedy-of-the-commons. If you had any R&D of merit to fund, you'd care about the long-term legality of your development and thus do it with legal private placements or crowd equity that pay back legally issued tokens earned rather than creating illegal investment securities pump & dump tokens.

All the monetary claims on labor you've accumulated will be useless if civilization collapses into tragedy-of-the-commons Dark Age. I know you do not care and it isn't your concern. That is why we call it a tragedy-of-the-commons. You're "rational". Well rational only if you presume the authorities will not come after you ex post facto (i.e. later) for trading in and promoting MLM scams in defiance of MLM laws in some major countries and illegal investment securities.

The Shit Token is the epitome of daring the regulators to act. However, afaics the Useless Ethereum Token might avoid the issuance of securities if indeed the issuer isn’t being relied on by investors for any future managerial efforts (although the promise that the value won’t decline and promise to manipulate the price might be construed to be ongoing managerial efforts expectations unless most investors thought it was a joke), yet they’re still likely violating AML regulations by selling tokens instead of spending them on goods and services and possibly enabling MLM scams as an issuer. If investors are expecting ongoing development efforts, the if the issuer thinks that disclaiming future profit is going to protect them from breaking the law, the economic reality would be they are still selling and promoting an illegal investment security, because speculators will speculate on greater fools speculating.

No one know it's a bubble until it burst. But we are in need of more regulations. We are in need of better platform to launch ICO. For example, Slack is not built for ICOs, yet many ICOs use Slack as a form of communication. 

Doge is something that needs to be overhauled or it will crash anytime. That should be the one this man is trying to realized and do something about. The entire crypto thing is beyond his control and his business. He should be improving his very own invention which is stuck up somewhere.

blockchain technology is a revolutionary technology that here to stay
he can not compare his doge coin experience to the whole crypto world
doge coin is not that great

Probably this guys was salty cos look at dogecoin right now it crashed way hard. His investment is going to crash more in the future.

There are so many black propaganda against crypto world but still they can afford to face it and make them more stronger. Even though some altcoins are fail, but it isn't enough to crash cryptocurreny just for that issue.

He knew exactly what he was going when he created Doge. He is pretending he didn't know, for his legal protection. He's a very astute person who understands that crypto (so far) is only about mindless speculation, scams, and illegal activity. He created Doge to prove this point and laugh at all of you.

And he is giving you a prescient warning about the nature of scams, mindless speculation, and bubbles.

I warned everyone about the ICO crash two days before it happened. Are he and I both idiots or prescient?

Yup so a guy who made a funny meme CC said something is gonna happen and thats news? He didn't even know how to run a coin, it eventually had to be linked to LTC to survive.



LMAO! I wrote my post before reding any posts and saw yours after I wrote mine, great minds I guess. Lol

I read this the other day, and I agree with his viewpoint for the most part.
In addition to the above scammy behaviors, the crypto market just appears to me
to be way over inflated, and these days I think the 'common man' is finding his way
into the market...and you know when that happens, it's game over.  It may be a
few months until the bubble finally pops, but it's going to.  It's just a matter of time.

Crypto may see a set back but with all the hype and word of mouth around the world there is no way that people won't continue to invest.

Is he banking on a downfall of crypto due to China's regulations etc.
Or is he saying this because doge has been dumped a lot lately? 

First China bans ICOs. We're in a reprieve or deadcat bounce until the SEC, the UK or some other major country (Japan, Singapore, Hong Kong, Russia or South Korea?) bans or threatens enforcement against ICOs.

It's either coming or nations will have abandoned their regulatory power over fundraising...

I don't have any opinion on whether BTC is still going to exceed $5000 before the coming doom. Perhaps China will come out with regulations for ICOs making them legal but forcing them to trade only on regulated exchanges, and that might rocket up the market again. And then the market could get knocked down again if/when another major country adds regulation enforcement for ICOs. I lean towards eventually regulation is going to be enforced against ICOs in several major nations (if not all of the G20), which will make the ICO issued tokens illegal to trade, spend, and use (except on regulated exchanges for tokens registered with the authorities in each of those nations). This is why I'm contemplating another way to do fundraising that doesn't encumber the tokens with this future regulatory risk.

P.S. I don't think China's ban of BTC-fiat exchanges is permanent. I believe they will just tighten capital controls such that it's impossible to move fiat on to the exchange, buy BTC, and take the BTC out of the exchange over some threshold per individual per period of time. But even that is sort of pointless, as they would need to also regulate mining to prevent people from buying BTC with fiat. W.r.t to tokens which were not ICO issued, China mainly needs to control capital flight.

I think you didn't understand why he call Bitcoin a scam. Look back maybe 10-14 days, JP Morgan predict that Bitcoin will fall soon at 3000$ and it happen.

Now why that happen, JP Morgan want to enter into crypto market to play little with us and make big money. He say that Bitcoin is a scam to drop a price on 3000$ which was a support price, they make research for sure and then wait that Chinese make that announcement that will close all exchange. People was think that will go even more down.

At that moment it was Friday they start to buy big amount of Bitcoin and price jump from 3000$ to 3600$ i think in 24h or even sooner.

Ok, that's past. They have big amount of Bitcoin, what will they do or use them fore? to manipulate market, to make big profit ?

What you pointed out is correct that if the bitcoin and other crypto currency are fraud and scam then why Japan and other big country are implementing bitcoin and given bitcoin as currency and made it legal to use it and even setting up mining options. So this are just fud so that they can pull the market down and buy back in low before it moves to more high price.

in graphs there is 2nd shoulder in formation.

expect major dips from the next week ans a long bearish period