5 Truths no crypto investor wants to hear!
February 20, 2019 8:39 am,
There is no shortage of optimism in the cryptocurrency and blockchain world, harsh truths have become a rare commodity. 99% of the participants in the crypto market never took the time to learn and understand what they’re putting their money into. The 5 truths we will see are the facts that no crypto investor wants to hear!
- In the world of Bitcoin experts, nobody knows anything
In the crypto world, most experts are self-appointed. A set of personalities have won the trust of the average crypto enthusiast but those are few and far. The highest rated ICO experts somehow emerged at the same time as trials that were Initial Coin Offerings themselves. ICO ratings often turn out to be blind leading the blind or a self-perpetuating feedback loop where the demand from the readers pushes the project ratings higher and higher. We spend much of our time trying to discern the true motivations of the CEOs and self-proclaimed blockchain leaders. But the fact is that they are as clueless as us!
- You’re here because of emotions, not shrewd financial acumen
Most of us are here not because of any rational decision, but the buzz and the dream that led us here to make more money. The thrill of breaking uncharted ground and checking of what might emerge.
- Most “Expert” opinions are bought and paid for!
We are familiar to the cryptopress release, but we don’t know which of them are paid for and which aren’t. Bots have been a hot topic in US politics in the recent years. There is also a strong evidence that much of the cryptocurrency market is swayed by automated trading bots. But here the bots refers to the people who are getting paid to go out and encourage the scam coin being pushed at the time. This isn’t crypto specific falling since the same phenomena can be seen as reviews as well. Some first timers need to learn that they really can’t trust much of anything they read online in the crypto space.
- Decentralization is a utopian pipe dream
People want more autonomy, authority and self-control but when they realize that such things require discipline, then decentralization is something to be feared.
- Crypto is a bubble: atleast 95% of all projects will fail
The harsh reality is that a vast majority of these stocks will either fail or turn out to be the opportunists. The cryptocurrency space contains 2,068 coins and 95% of them are doomed.
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