Verge has been stealing all the headlines recently (since the market has been pretty dull) as the network is being attacked and the developer continues to struggle with the problems the cryptocurrency faces. Meanwhile, a group of scams based on "Proof of Weak Hands" aren't considered scams because they admit they're scams / a joke? Brilliant! Lastly, we discuss the whole deal with Tron being better than Ethereum according to Justin Sun (the CEO of Tron).
Time-Stamps for Easier Viewing:
0:00 - Introduction
0:34 - Verge Rant
5:46 - Proof of Weak Hands Rant
9:10 - Tron Rant
14:53 - Conclusion
There seems to be some kind of mass psychosis in the crypto space that attracts people to these kind of "vapour ware" coins. As an investor when you allow greed to triumph over common sense and reason and you actually invest in these coins then don't be surprised when it all goes belly up. A good crypto eco-system is both well specified and well implemeneted. Consequently if the white paper is rubbish then that crypto has next to no chance of being a success.
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I think Crypto Lounge is a pretty cool handle. There could even be some different hangout rooms within the Lounge. I'm sure we could come up with many ingenuities which you could employ as sub-titles.
"The Hopeium Room" for dreamers probably woudn't be found in your lounge but the "Sober Salon" or the "Realist Room" might be. There could be "The Fundamental Forum" for taking a look at the Big Picture of Infrastructure Build-out, and so on. And when you're P.O.ed, like today, it could be sub-titled "The Rant Room" or the "Venom Venue."
One last observation is that the Mainstream Mindset is so far from the truth, that truth itself is intolerable. Only lies can be given free-reign. And the crypto sector is heading straight for Mainstream adoption...?
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Hi Crypto investor, I have been watching your channel since you first started out on youtube. I have watched every single video. I remember when your sub level was tiny. I should have listened to your video more when you said we should never be so greedy as to lose your intial investment, this saved me an immense amount of money during the correction.
so thanks for the good work, you are up there with the best.
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This series is a great addition to the deeper analysis stuff. A+ as usual.
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@scottwehman,
I came to Steemit because I'm a Cryptovestor fan, so I agree he's A+
I'm interested in details about what you've call the "deeper analysis stuff". Sincere inquiry
Regards,
Rick
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Nice post. Looking forward to your thoughts on Soros entering the space.
I'm not a fan of him but he is a very smart and very ruthless operator. Calling BTC a bubble while buying Overstock (OSTK) hand-over-fist. What's his next move?
BTC to $500 and then $500K or $500K first and then $500?
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Soros has already been in the space.... the market cap didn't go from $100B to 800B on JoeCrap the Rag Man's (our money). They drove it up, then shorted it with the futures market and made a killing tanking the market. That simple IMHO.
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This is the main reason why Bitcoin dominance has continued to rise despite the declines in the overall market. More people are realizing that there is a large probability that most assets in the space will fail. Particularly considering the ongoing uncertainty of the regulatory impact of the SEC investigations going on with some ICOs. Even viable projects that have honest proposals and intentions will fail due to lack of interest and funds given the downturn. Some are just pure scams. There will continue to be a flight to quality as the bear market continues. I am not saying that BTC will get back to 80% dominance but I think that other major coins with projects that have launched will outperform those that do not demonstrate their seriousness.
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Glad to see you back in front of the camera again.
I enjoyed both crypto lounge rants.
I just read the Ambt token whitepaper, was impressed, and considered trying to invest in the pre-sale. But...
I'm a US citizen and can't.
Interested to learn your thoughts about Ambt token, US citizens being blocked, and the type of government Georgia has.
Still doing my dd and looking for a European to possibly partner with.
Regards,
Rick
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always good information
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So you think, that companies, that reinvent themselves are joke, and should stick with whatever they described to their investors in the first place, despite anything? Just imagine – Nokia, still selling rubber boots. Western Union, instead of launching commercial satellites (they did that first) and being world's largest money transfer service – still a telegraph company. IBM still sells PC's, and don't do cloud. Shell still selling actual shells. Did you know that Nintendo was founded in 1889 and didn't do game stuff for63 years? Instagram also started as app, that let users check-in to locations and wanted to become next Foursquare. Also, Apple and many more companies reinvented themself more than once and stayed away from original idea.
Roger Ver thinks that bitcoin isn't following Satoshi's vision. So why it's bad, that Tron don't do? Chinese people are cheaters, if they can cheat (copy-paste whitepapers) to achieve something faster, they will do that every-time. It's their culture. So in my opinion, it's good that Tron keeps reinventing. Also, there's nothing wrong with moving on. A lot of people start something, build a strong foundation and go on with different things in their life. Did Microsoft become crap after Bill Gates left as CEO? Of course it did, but Microsoft was crap all the time :) But in general, a lot of companies have CE who steps down and moves on. Google, Apple, Oracle, etc...
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right? I can't believe that these joke coins have a higher market cap than Nano for example.
even considering that Nano was hyped too much and had suffered a stolen due to a hobbyist running an exchange.
people don't seem to care about technology, only about what the marketing team says, because that's easier than actually understanding what makes the crypto work. and in Nano's case... well they don't really have a marketing team, but great tech, and people realize that once they read the whitepaper and dig deeper into it, to understand what differentiates it from Bitcoin and all other cryptos.
smh, rant over
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It breaks my heart to see things like this. I truly believe in crypto, like Bitcoin, Ethereum and some other really great projects (like ICX, NEO, EOS, Steemit, SNM and a couple of others). But to see Justin Sun, claiming how much better Tron is and people buying that shit like crazy, because they trust him. Every project can fail, but Tron or Verge almost have a zero probability of succeeding. And it hurts because it damages the credibility for the whole crypto segment and hinders adoption.
Proof of Stupidity is a really good term, because the only usecase of Tron and Verge is to find someone more stupid than yourself, who buys it from you with a higher price. Seeing Bitconnect a couple of months ago in the top ten hurt more, but I guess people havent learned from it...
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When you say steemit whats you meant is Steem
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I think so @newsflash, success continues for you. you are incredible
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Please explain to me what use case Litecoin has? (I plucked that one out the hat)...and Dash...let us try Monero? And then tell me what you KNOW about Verge? It's origins, it's Dev team... can you tell me how much they raised through their ICO? What % the Devs are holding? .... I take it this is more scam coming through...
.... I wrote about Verge 9 months ago here if you are interested..or not. Neither here or there to me.
TRON on the other hand is toxic waste.
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Love the new format also, and cool name btw (crypto lounge). Good that there is at least one rational Crypto Investor who debunks the greatest scam/shit/coins of all time.
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I'm very surprised you didn't mention XVG's exploited code, where a group of hackers exploited the mining protocol for 14 hours straight, mining 1 block per second (as opposed to 1 block for 30s). There are so many red flags for XVG but the penny value is attractive to the average Joe... their motto is "remember when Bitcoin was 1 cent".
Also on top of this XVG tried to patch the exploit with a hardfork but the code was so bad it desynced the wallet so now the coin is no mans land. Not sure if they've found a fix. I actually surprised this thing hasn't dumped to 50 sats yet.
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A massive redistribution of wealth, what else is new — lol yeah...
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Much respect Crypto Investor! For, just like Vitalik, having your BS detector at full blast at all times.
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a very great post ... thanks for sharing ... you are very extraordinary
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