Artemis Fowl
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- Mar 16, 2004
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- Certified Residential Appraiser
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- Michigan
Funny how that always seems to happen when the hype and frenzy peaks. Was so tempted...contrarianism won the day tho.
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Bitcoin Is Over $7,200!
- Thread starter Digger88
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Joe Flacco
Elite Member
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- Jul 31, 2013
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https://www.amazon.com/dp/8126556137/?tag=realestatappraat&tag=realestatappraat
Read this book. It is very good.
Elliott
Elite Member
- Joined
- Apr 23, 2002
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- Certified General Appraiser
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- Oregon
WSJ 5/17/18:
"Buyer Beware: Hundreds of Bitcoin Wannabes Show Hallmarks of Fraud
A Wall Street Journal analysis of 1,450 cryptocurrency offerings reveals rampant plagiarism, identity theft and promises of improbable returns
Investors have poured more than $1 billion into the 271 coin offerings where the Journal identified red flags, according to a review of company statements and online transaction records—nearly one in five of those reviewed. Some of the firms are still raising funds, while others have shut down. Investors have so far claimed losses of up to $273 million in these projects, according to lawsuits and regulatory actions."
"In a review of documents produced for 1,450 digital coin offerings, The Wall Street Journal has found 271 with red flags that include plagiarized investor documents, promises of guaranteed returns and missing or fake executive teams. Jeremy Boker” is listed as a co-founder of Denaro, an online-payment project. In investor documents for a public offering in March, which claimed to have raised $8.3 million, Mr. Boker boasted of his cryptocurrency startup’s “powerhouse” team. In his biography, he noted a “respectable history of happy clients” in consulting before he launched Denaro. In fact, Mr. Boker’s bio image was a stock photo, there is no evidence he exists and the rest of his team appears to be fictional, except for two freelancers who said they were paid by people unknown to them to market the project, the Journal found.
The principals behind Denaro couldn’t be identified and attempts to reach the company went unanswered. The real person whose image was repurposed as Mr. Boker’s turns out to be Jenish Mirani, a banker in Poland. Mr. Mirani, who had posted the photo on his personal website, said “it was really shocking” to find out about its afterlife."
"Buyer Beware: Hundreds of Bitcoin Wannabes Show Hallmarks of Fraud
A Wall Street Journal analysis of 1,450 cryptocurrency offerings reveals rampant plagiarism, identity theft and promises of improbable returns
Investors have poured more than $1 billion into the 271 coin offerings where the Journal identified red flags, according to a review of company statements and online transaction records—nearly one in five of those reviewed. Some of the firms are still raising funds, while others have shut down. Investors have so far claimed losses of up to $273 million in these projects, according to lawsuits and regulatory actions."
"In a review of documents produced for 1,450 digital coin offerings, The Wall Street Journal has found 271 with red flags that include plagiarized investor documents, promises of guaranteed returns and missing or fake executive teams. Jeremy Boker” is listed as a co-founder of Denaro, an online-payment project. In investor documents for a public offering in March, which claimed to have raised $8.3 million, Mr. Boker boasted of his cryptocurrency startup’s “powerhouse” team. In his biography, he noted a “respectable history of happy clients” in consulting before he launched Denaro. In fact, Mr. Boker’s bio image was a stock photo, there is no evidence he exists and the rest of his team appears to be fictional, except for two freelancers who said they were paid by people unknown to them to market the project, the Journal found.
The principals behind Denaro couldn’t be identified and attempts to reach the company went unanswered. The real person whose image was repurposed as Mr. Boker’s turns out to be Jenish Mirani, a banker in Poland. Mr. Mirani, who had posted the photo on his personal website, said “it was really shocking” to find out about its afterlife."
Elliott
Elite Member
- Joined
- Apr 23, 2002
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- Certified General Appraiser
- State
- Oregon
WSJ 8/5/18--
"Dozens of trading groups are manipulating the price of cryptocurrencies on some of the largest online exchanges, generating at least $825 million in trading activity over the past six months—and hundreds of millions in losses for those caught on the wrong side, according to a Wall Street Journal analysis. In a review of trading data and online communications among traders between January and the end of July, the Journal identified 175 “pump and dump” schemes involving 121 different digital coins, which show a sudden rise in price and an equally sudden fall minutes later.“Cryptocurrency exchanges are unregulated markets, so the kind of market manipulation banned on, say, the New York Stock Exchange can essentially be carried out with impunity,” said Ben Yates, a cryptocurrency lawyer at London-based RPC.
Similar practices were outlawed in the 1930s when groups of traders bought and sold stock among themselves to inflate the price before unloading it on the public. Nonetheless, pump and dumps proliferated during the dot-com boom, pushed by “boiler room” brokerages like the notorious Stratton Oakmont, founded by “Wolf of Wall Street” Jordan Belfort. In 1999, Mr. Belfort pleaded guilty to charges of securities fraud for running pump-and-dumps affecting 34 companies and costing investors more than $200 million in losses."
Ahh the new coin of the realm.
"Dozens of trading groups are manipulating the price of cryptocurrencies on some of the largest online exchanges, generating at least $825 million in trading activity over the past six months—and hundreds of millions in losses for those caught on the wrong side, according to a Wall Street Journal analysis. In a review of trading data and online communications among traders between January and the end of July, the Journal identified 175 “pump and dump” schemes involving 121 different digital coins, which show a sudden rise in price and an equally sudden fall minutes later.“Cryptocurrency exchanges are unregulated markets, so the kind of market manipulation banned on, say, the New York Stock Exchange can essentially be carried out with impunity,” said Ben Yates, a cryptocurrency lawyer at London-based RPC.
Similar practices were outlawed in the 1930s when groups of traders bought and sold stock among themselves to inflate the price before unloading it on the public. Nonetheless, pump and dumps proliferated during the dot-com boom, pushed by “boiler room” brokerages like the notorious Stratton Oakmont, founded by “Wolf of Wall Street” Jordan Belfort. In 1999, Mr. Belfort pleaded guilty to charges of securities fraud for running pump-and-dumps affecting 34 companies and costing investors more than $200 million in losses."
Ahh the new coin of the realm.
Meandering
Elite Member
- Joined
- Feb 26, 2006
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- Real Estate Agent or Broker
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- Pennsylvania
When their IPO was declined by the SEC, I was reading someplace, that all of this started because China did not want the dollar to be the global medium of trade. Maybe I'll dig up the article later.
Big ole Boy
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- Tennessee
Joe,
Some of your outlook on stocks was interesting to me. You see a secular bull market for stocks as I remember. So many senarios to consider. If a secular bull market is stocks is in our future, then what kind of world would that look like?
Hybid PE ratios that go from 200 to 2000? Where companies hyper consolidate and the world also consolidates human intellectual capital. We build out an economic system that an Amazon becomes the current glimpse of a future where everything is absorbed.
A One road China policy that sweeps Europe and the US is vulcanized into a one world system. The stock market would be chineese owned world wide.
Joe Flacco
Elite Member
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- Jul 31, 2013
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- Certified Residential Appraiser
- State
- Maryland
Joe Flacco
Elite Member
- Joined
- Jul 31, 2013
- Professional Status
- Certified Residential Appraiser
- State
- Maryland
I have been leaning towards the thinking that blockchain is a subcategory of AI. It is kind of like a method of automation. What you you think about that?
Big ole Boy
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- Tennessee
It could be described this way. A method of automation where information is converted into capital in a way that bypasses needless older ways of doing things. A part of an evolutionary remixing.
Terrel L. Shields
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- May 2, 2002
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- Certified General Appraiser
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- Arkansas
Bitcoin, in my opinion, which with $3 will buy you a cup of coffee...or on!y $1 at Mc Donald's if you are a senior, is a speculative medium intended to skirt regulations that will eventually make it into a poor investment even for the beneficiaries of trading.
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