One of the coolest people I’ve met online lost $100,000 because his company failed to launch during the huge boom of value in crypto. He needed to refund his initial investors money and taking all the hit in the process. I would not name the guy as he is in a depressed state now and collecting his experience in some remote area in the world.
He is not the only person who suffered massive losses lately. The sudden decline of market value caused a lot of headaches and heartaches to people who relied on the idea of “FOMO” or “fear of missing out” from the markets.
Though I don’t claim myself an expert in Initial coin offerings or ICOs, I just feel the world is being disuaded from the true power of blockchain technology due to this craze. I believe Switzerland is doing a great job at using crypto currency. They accepted it as part of their economy and you can even use bitcoin as a medium of payment. That is a true value of cryptocurrency, its ability to exchange value and not to appreciate value. An asset appreciates and depreciates in value in response to a valid market, thus when coins are sold in an ICO, it will be very difficult to determine the value of a currency since the coins are sold on a future market that is not yet created.
I just had hoped he listened to what I was telling to them before. But yeah, unfortunately he didn’t and he is now a casualty of the crash.
My advice:
- Invest not where the “crowd” is panicking to put their money.
- Be an independent thinker or..
- Listen and learn only from the best.
visit my website: https://migueldeguzman.github.io
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