Cryptocurrency crash is coming, warns Dogecoin creator - page 3.

hv_

legendary

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Merit: 1055

Clean Code and Scale

Quote from: Hyperme.sh on September 17, 2017, 08:28:36 PM

Quote from: NoiseBoy on September 17, 2017, 08:15:21 PM

Something like 10% of the money being directed at ICOs is being siphoned off through scams, cons, phishing, or outright hacks of broken multi-sig wallets.

Security and due diligence are sooooo important!

Due diligence? All the ICOs are scams. All of them.

Agreed - and I wonder when ETH is declared criminal, starting in China ?

You've warned us that this crash will come somewhere - it's coming .....

Hyperme.sh

member

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Quote from: NoiseBoy on September 17, 2017, 08:15:21 PM

Something like 10% of the money being directed at ICOs is being siphoned off through scams, cons, phishing, or outright hacks of broken multi-sig wallets.

Security and due diligence are sooooo important!

Due diligence? All the ICOs are scams. All of them.

NoiseBoy

sr. member

Activity: 266

Merit: 250

Sound. Fury. Signifying.

I mean... he's basically right.

Something like 10% of the money being directed at ICOs is being siphoned off through scams, cons, phishing, or outright hacks of broken multi-sig wallets.

Security and due diligence are sooooo important!

monkfishy

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It's kinda inevitable that there will be one or several big crashes coming up. However, it's far from trivial to say when. Perhaps when the market reaches 200b, 1t or 10t - who knows?

The technology has a lot of use cases, meaning even a crash or two won't eliminate the market. But it will kill a lot of the altcoins I'd wager.

The dot-com bubble didn't result in the internet becoming worthless, just a bunch of the companies trying to profit from it (the bottom lot)

bbc.reporter

legendary

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Do the whole cryptocoin community still listen to Jackson Palmer? We have seen different characters appearing in news sites saying that the bubble will now burst beyond doubt this time. Bankers, financial analysts and now a founder of one of the early scams in the cryptospace.

The article mentions that he used dogecoin to show the absurdity of wagering huge sums of money on unstable ventures. I do not believe that. He must have known that the market was ready for another cryptocoin to pump.

He hoped to use Dogecoin to show the absurdity of wagering huge sums of money on unstable ventures. But investors did not get the joke and bought Dogecoin anyway, raising its market value to as high as US$400 million (S$538 million).

Along the way, the currency became a magnet for greed and attracted a group of scammers and hackers who defrauded investors, hyped fake products and left many of the currency's original backers empty-handed.

Today, Mr Palmer, 30, is one of the loudest voices warning that a similar fate might soon befall the entire cryptocurrency industry.

"What's happening to crypto now is what happened to Dogecoin," he said in a recent interview. "I'm worried that, this time, it's on a much grander scale."

Read the full article http://www.straitstimes.com/business/companies-markets/cryptocurrency-crash-is-coming-warns-dogecoin-creator

Topic: Cryptocurrency crash is coming, warns Dogecoin creator - page 3. (Read 1755 times)