B for Blockchain, B for Bitcoin, B for Bubble, B for Bust!

The following New York Times article is of interest given the focus on emerging blockchain and related technology in Barbados – Blogmaster

PALO ALTO, Calif. — Last year around this time, a toy called a cryptokitty sold for $170,000. A real estate agent remade himself as CoinDaddy, producing cryptocurrency-themed music videos. The man behind a company called Ripple became for a moment richer than Mark Zuckerberg. Kids barely out of high school were buying Lamborghinis because of a crypto meme. Experts went on CNBC to say Bitcoin was going to reach $100,000 per coin.

For a few sweet months of 2018, all of Silicon Valley was wrapped up in frenzied easy money and a fantasy of remaking the world order with cryptocurrencies and a related technology called the blockchain. A flood of joy hit the Bay Area. The New York Times ran with the trend in an article with the headline “Everyone Is Getting Hilariously Rich and You’re Not.” It was temporarily true.

And just as the American public had been given every possible blockchain explainer that could be written, the whole thing collapsed. The bubble popped.

Today the price of Bitcoin — $19,783 last December — is $3,810. Litecoin was $366 a coin; it’s now $30. Ethereum was $1,400 in January; today it’s $130.


One recent crypto holiday party offered “broken Lambo dreams and an open bar to drown your sorrows in.”

This December closes out cryptocurrency’s most exciting year, ending in a terrible, sober headache of a winter.

Read full New York Times article  – Remember Bitcoin? Some Investors Might Want to Forget

75 thoughts on “B for Blockchain, B for Bitcoin, B for Bubble, B for Bust!

  1. David

    Several BU regulars were warning you about this 4 or 5 years ago, maybe more. Those BU commentators have made broader statements about other major subsectors of the global financial architecture, even the entire system itself.

    Where was the NYT then? Why do you still presume that the mainstream media are still capable of leading us from behind? Why are you not quoting bloggers right here? Does this not represent a chink in the political armour of MAM? Will she not be stained by the certainty of the impending global economic calamity? And why is her government so intent on such a misguided course of action, when the signs of bumbles were so clearly emerging that even blind mice could have seen? And who are these idiots for economic advisors around her, lacking any modicum of vision, foresight?

    • @Pacha

      The article warns about Bitcoin. Blockchain the underlying technology continues to be integrated into establishment business. We need to separate the issues, Bitcoin versus blockchain and the utility of the technology versus investment. BU has never promoted Bitcoin, we are sweet on using blockchain to grow efficiencies in traditional business.

  2. David

    We can swear for your assertion that BU never supported bitcoin. But that was not our question/s. And the difference you highlighted does not obviate the possibility that ordinary people are the mostly to be exposed, should the government embark on this.

    This is all a blockchain is ……..

    ”’The blockchain is a decentralized ledger of all transactions across a peer-to-peer network. Using this technology, participants can confirm transactions without the need for a central certifying authority. ”

    In a financialized economy blockchains are monetized and that could still produce more of the problems currently in existence.

  3. @ Pachamama

    Our David 1/3, like many Bajans, like to hear it from” reputable” mouths abroad. The locals are Nothingnarians. If it is new ,it is good. Sad. But at least ,he allows Sam Coushie and the Duppy to air their views.

    • @Vincent

      You need to reread the last comment. The NYT article exposes Bitcoin as an investment, BU has never promoted Bitcoin. To repeat blockchain seems to be useful technology.

  4. @ David at 11:27 PM

    David you were advised that crypto-currencies, like derivatives, were “risk creating”.
    Anyhow. It does not matter. Your important contribution was in providing the opportunity to analyse the concept. Go to the front of the class.

    • @Vincent

      Blockchain is not a cryptocurrency.

      The blogmaster supports the mmoney concept which is a digital currency using blockchain has the underlying technology.

  5. @ David BU

    There is always a tendency for man, because of greed, to exploit an opportunity to make private profit. Derivatives were contrived to manage financial risks. Some clever sparks sought to use derivatives as investment vehicles and that caused the last financial melt down.
    Printing money/ quantitative easing was invented as a means of heading off deflation of an economy. Some bright spark used it as a means to avoid taxing the rich and it caused inflation. So man made contrivances are two edge swords very dangerous even in the hands of Nobel Laureates who invent them.

    The road to hell is always paved with good intentions. Do you see any local candidates?

  6. @ Vincent
    You guys are taking long as Hell to see the green grass ahead…
    Bushie can already see the plimplers in the bushes……

    Blockchain, bitcoin, mmoney, greenbacks, US dollars … it makes VERY little difference.
    The END of the period of albino-centric, pyramid growth is at an end…
    Pacha is right…
    A new era is about to be launched …with all the attendant carnage…
    It will be rough…

    What a time to be alive…..

  7. This might further help separate the difference


    Of note is the GoB’s stated intention to go this route including the creation of a regulatory sandbox by the FSC and possibly including some levels of integration by the Central Bank

    I won’t bother to comment on the major (read only) player in the market being MMoney headed by Senator Rawdon Adams and Madame Dukharan.

    Another thought is the need for full technology (cell phone apps, e-commerce etc.) immersion and use for something like this to take route. Barbados has tended to be quite passive in this regard.

    Just observing

  8. So..will Bitt Inc change it’s name now that everyone will be RUNNING IN THE OTHER DIRECTION.. when hearing the name Bitcoin..and most people will now be WARY and rightfully so of any new age crypto or any other currency…

    Pacha…we are used to getting CUSSED for telling the truth on BU and for WARNING Bajans about these new age SCAMS…and the dumbass government ministers/PMs who run headlong into introducing and ENDORSING them without doing any DUE DILIGENCE on them and even changing the constitution to ENABLE THEM…..and their big head scammers.

  9. @ David 12.03 am
    Blockchain is not a cryptocurrency.

    From Observing 12.52 article…
    Blockchain is the technology that enables the existence of cryptocurrency (among other things).
    Bitcoin is the name of the best-known cryptocurrency

    Boss,… ANY shiite that cannot be explained CLEARLY in three paragraphs deserves to be flushed.
    Every article on this crypto shiite refers back to other shiite articles that refer back to other shiite articles in one big illogical circle.
    Bushie knows shiite by sight, smell and texture. (it comes from the lotta whacking experience…)

    The shiite money that we CURRENTLY use is crypto currency….
    It is really just a piece of fancy toilet paper with some idiot’s picture on it and a random number. The ONLY value it has is that which we assign to it IN FAITH.
    These new schemes simple create the situation where small groups of albino-centric sharks can have EVEN MORE control of our ‘faith’ and can act independently and in secret ..without fear of discovery.

    Our problems DO NOT reside with the technology – but with the ingrained PHILOSOPHY of greed and selfishness.
    Creating more sophisticated technologies only hastens the collapse of the pyramid…
    …some demented moron probably made billions from the bust that was described in this article..while millions of greedy idiots lost their shirts….
    The next stage will just be bigger and more devastating…

    BUT in the end, cryptocurrency deployment is simply an advanced case of putting ‘CLICO on steroids’.

    • @ Bushie

      We can always depend on you to make it pellucidly clear in a language they understand. The problem seems to be is that too many persons have a dog in this fight. I hope they lose their….

    •         @Vincent

      One has to be willing to standup and fight for what you believe in. Time will be the arbiter who is right.

  10. “It is really just a piece of fancy toilet paper with some idiot’s picture on it and a random number.”

    most of whom are DEAD IDIOTS…along with the LIVING DEMONS…they left to carry on their criminality..

  11. Pingback: B for Blockchain, B for Bitcoin, B for Bubble, B for Bust! - Think ICO

  12. @ David
    One has to be willing to standup and fight for what you believe in.
    Did David Thompson not say something somewhat like that ….when he vouched for CLICO…
    …and gave them $10M of our toilet paper money too boot…?

    Note that Bushie did not lose a single cent there either….

  13. @David

    Explain to the dumb Coyote how MMONEY is not a Bitcoin.

    Dumb Coyote does recognise that the new BlockChain Ledger technology appears to have promise in a number of properly applied situations. Blockchain has always promoted itself as UN-CORRUPTABLE, however there have been numerous instances, in just the past year, of various bitcoin “currencies” being defrauded of millions because their particular Blockchain were infiltrated/ corrupted.

    Every programmer KNOWS that any encrypting code no matter how complex and secure can ALWAYS be broken. Any new financial technologies must be carefully and expertly vetted in their particular application over an extended period of time prior to widespread implementation. Barbados as a Country does not possess the capabilities to adequately perform the needed evaluations. GOB looks to technology as a cure all for thier minor to major failings from sewage syxtems to complex financing issues. Technology is merely an AID to be used to make day to day operations more efficent and less labour intensive. This in itself is an oxymoron for GOB, being efficient means less workers required however GOB maintains its nepotism system which increases employees, HUMMMMMM.

    • @Wily

      You are not reading the links posted?

      Bitcoin is mines using computers and free software. It is not regulated by the establishment read central banks.

      mMoney is a digital currency, the currency is backed by fiat dollars and transactions settled in the regulated system.

      A simple explanation.

    • @ Wily

      I agree with your insightful comment on the use of the Blockchain technology platform. It is still a work in progress which is being tested daily. Many of its early claims to incorruptibility have been disproved.

  14. @ David
    What is the difference between mmoney and the everyday bank debit card – except that mmoney runs on smart phone technology while debit cards don’t?
    If Barbados took the decision that we are not able to properly run an old-time bank (and sold out to foreigners)
    … who the hell will now trust them to be involved with an unregulated mmoney arrangement?
    … and who the hell is this ‘import’ that has suddenly arrived with this scheme?

    It it walks like a duck, quacks like a duck….
    Bushie don’t do duck….

    Why not one of the old reliable institutions that have been around for decades …AND have proven their trustworthiness and commitment to customer service…?

    There are some things that Bushie DOES NOT trust to/ from albino-centric strangers…..
    Food is one…
    Money is another…

    This is why Bushie likes Lawson.
    He is albino-centric in disposition (although not in Money Brain’s league….)
    BUT he is not a ‘stranger’….
    Bushie knows what to expect from Lawson…
    Bushie don’t know one shiite about Rawdon….

    Keeping the Debit.

    • @Bush Tea

      The debti card ties the customer to the established players read the banks.

      Integrating the emerging technology creates the opportunity to disrupt. Bear in mind the established players are starting to use blockchain technology to enhance operations.

      There is a big picture to see here.

    • Mr BushT , u just like to BS don’t you!

      You make the absolutely perfect point that “Our problems DO NOT reside with the technology – but with the ingrained PHILOSOPHY of greed and selfishness. Creating more sophisticated technologies only hastens the collapse of the pyramid…
      which can be applied to EVERY tech innovation but YET you (facetiously) embrace one such tech advancement now of course well in it’s mature stage…and YOU talk of the circutious illogical debate of block chain and crypto! Fah real 😂

      It seems that on one side @Vincent, @Cayote, you and others have adopted a stance that this tech is NOT already ingrained in world systems …Reality check: it basically is…thus nothing we do or do NOT do will change that one iota… one Bajan political scion attempts to forge his path in this tech area will not affect much… surely we can’t really perceive that MAM has the power or ‘stupidity’ to some how dissolve our current financial systems by turning everything to this mMoney folks or whatever ….that makes no sense whatever.

      His in one (well connected yes of course) to create the next fortune! He will be carefully watched no doubt.

      So to ur salient point… Are not PCs dangerous tools…surely u have read of how many people have had their lives stolen away by bugs or apps lodged on their PC…didn’t the world have this SAME style argument at the advent of the now ubiquitous PC.

      I certainly recall that and too much angst when that litttle debit card u now hold sacrosanct was seen as intrusive to lives…what of it’s sister credit card…The ‘big brother’ knows when we buy the durex or the Pampers if purchase one failed…and when they moved from gold to that fancy idiot faced toilet paper you mention was there not much gnashing of teeth.

      You and others have created an illogical argument…NO ONE can dispute that this nascent blockkchain and particularly crypto curreny will cause much pain to many but as you also so perfectly saidid …

      “BUT in the end, cryptocurrency deployment [may be] simply an advanced case of putting ‘CLICO on steroids”

      But bluntly to say wasn’t CLICO a free will choice by those who invested…what exactly is different here.

      @the Blogmaster, I hail ur attempts to fully ventilate this subject…carry on smartly!

  15. Bushie
    Yuh right as shiiiite
    This bicoin/blockchain sew n sew has failed already.
    The shadow banks etc went in, then manipulated the markets to boost the value over 20k and dumped their investments. The classic pump and dump.
    When the recession comes, 2019, expect a total wipeout on the first day. Then watch emerging markets more generally on the second day.
    That a government
    of barbados to pay this foolishness any mind tells a lot.

  16. Ah surprise a yardfowl or 2 did not jump out YET to cuss me for asking if the Bitt…in Bitcoin is about to CHANGE IT’S NAME.. ..lol..

  17. And what about the 16 million dollars I think it was, that Overstock invested to acquire Bitt Inc…how ae they going to recoup that pound of flesh…cause they did not buy that scam from the majority population, so eyes will have to be peeled to see HOW..they plan to recoup…cause mMoney is also a BUST…people are warning each other to stay the hell away.

  18. Have they built hurricane proof buildings to house the computers / servers ?

    Will they have a fibre optic cable linking the servers to the ISPs / LIME ? cell towers can be blown down by hurricanes.

  19. @ David
    The debt card ties the customer to the established players read the banks.
    One can understand the attractiveness of being able to hide transactions from prying eyes…
    But why would Bushie be interested in this if he has not one shiite to hide in any transactions?

    Indeed, Bushie LIKES the fact that both HE and the bank have details of all transactions done – since (as has happened already) the Bushman has been able to detect ‘mistakes’ and to threaten brimstones and fire to have them corrected…

    Who, and with what, would Bushie confront in the case of losses with these secret transactions…?

    You think Bushie afraid to visit Uncle Sam or wuh?
    …we have a long time visitor there now who would have benefitted from the ’emerging technology’… no doubt…

    BUT not stinking Bushie.

    • @ Brother in Arms Bush Tea

      I really doan unnerstand why you doan tell dese fellers whu you know bout dis ting

      And i am equally concerned about DpD though, over the course of time, it becomes evident where his loyalties lie AND THAT SADDENS ME

      All uh Wunna MyMoney promoters are getting cuaght up in the hype between BittCoin and BlockChain

      Leh de ole man explain it fuh wunns people, sheeple and downright chvunts.

      If I am a car parts manufacturer, and I employ a blockchain technology, FOR THE MOSE PART, my system is advantageous for the to market cycle as i document component elements from design/manufacture to delivery to the shelf and sale.

      Blockchain is like my barcode in 3D or as the fellers here saying “Barcodes on Steriods”

      MyMoneyisYourMoney is NOT DE SAME EFFING TING!

      THis is switch and gram at the finest.

      When wunna chvunts start paying all uh wunna government bills via MyMoney what going happen is dat all de drug money going get laundered and when Mugabe ask for a snapshot at 9.30 pm pun Sunday 30th of December 2019 ANY RH NUMBER GOING PLAY BETWEEN 9.30 and tomorrow at 8 UNDER DIS RH SCHEME.

      Your DePedantic should be ashamed of yourself because you, moreso that all the rest here KNOW WHAT THIS SHY$E entails and how the trick that Rawdone and Mugabe going play.

      And you dun know that Bush Tea is correct.

      But i guess that you see the potential spill-offs for *** so you are now on the MyMoney bandwagon as well and May the Good Lord Help US


  20. @David

    Dumb Coyote knows very well exactly what crypto currurencies are, Bitcoin is but one. Not recognizing MMONEY as a crypto currency is a big FAILING of the BLOGMASTER. Coyote is continually amazed how easy it is for GOB to fog the eyesight of BAJANS. Your argument that MMONEY is backed by hard currency is naive. Anything being backed by whatever Caribbean hard currency is fraught with issues as these supposed hard currencies are themselves not realistic. If you start out with a faulty assumption all downstream scenarios are not valid.

    MMONEY is merely an attempt by a Barbados organization to setup thier version of PAYPAL to skim off revenues for themselves, claiming it will make inter Caribbean country commerce more efficient, LAUGHING ALL THE WAY TO THIER REAL BANK.

    Take time to SMELL THE ROSES.

  21. @ Pacha
    David likes the technology and the promised improved efficiencies.

    Unfortunately, technology is NOT our salvation (overcoming our evil predisposition is….)
    BUT it is the single greatest trap for mankind’s self-destruction.
    We are effectively climbing up and up an increasingly complex and frail ladder of technology,
    and when that final straw is added….
    ……the WHOLE shiite will come tumbling down like Humpty Dumpty.

    But we like the view from high up…..

    • Integrating technology is a continuous process how we advance as a people much the same way we have moved from steam to gas to electric etc.

  22. As explained to me, all new currencies using Blockchain are now impacted, programmers are keeping an eye out because the tech industry is experiencing some upheaval because of the pump and dump scam by those in the Bitcoin ling.

    What annoys the hell outta me are these ministers/leaders who are clueless about any of this, but jumped out to endorse what they have no clue about and their useless supporters, even more clueless….egged them on.

    Now this.

  23. It is a source of constant amazement: People who have written off the Caribbean and spend considerable time exposing thier knowledge of USA and Europe, are amazed when we take the lead from outside the region , on socio-economic matters.

  24. William Skinner

    We are critics!

    And believe that you mean us, maybe others too. We have never been afraid to make a visceral attack on you, William Skinner, or any rassoooooul body else. We give not a fuck about anybody!

    We criticize both Europe and the USA because the likes of you, and every body else in the Caribbean, are guided by what they do. For your information this writer studies the world. Our remit is not limited to the areas mentioned by you. Maybe that tells something about. A limitation of vision that is quintessentially Caribbean. There we go again.

    For us there are no sacred calves, like with you.

    But because somebody understands the world it should not mean that to criticize the shiiite people like you do in the Caribbean, and have always done, should be mutually exclusive.

    Unlike you, we will never committed to a view of the world which is based on a slavery epoch. And anybody doing that is an asshole.


    What would you prefer, for us to accept your dated thinking as ours. We have never held you in such esteem, or any rassouuuuul body else for that matter.

    Notwithstanding, we believe we know your underlying issue. Raise it!

    • Bushie was trying to tell David that …
      When you have an idiot driving,…
      it is MUCH better for EVERYONE,
      to let him drive a Model T ford
      …than to hand him a series 9 BMW…
      Even Maripoka probably gets that.

  25. @ David
    Bush Tea how is your example relevant if the Model T is not being supported today?
    Don’t you get it?….Model T is even better.
    Immobilise the idiot driver and we are ALL safe…

    Suppose (if you can) that Leroy P had remained with his Model T job (a driver)…
    You know how many CLICO victims would still have their money…?

    Suppose Owen had left the Chicken feed maker with HIS Model T (mixing chicken feed) – instead of making him drive a Series 5 BMW as Supervisor of Insurance…
    Shiite man… even Fruendel would still have his CLICO money…

    Come on David…
    Catch up….

    @ Money B
    Thanks bro…
    Sorry to be making you like Bushie’s rant… 🙂
    We are missing you on BU though…
    You must be too busy counting all that Christmas cash that you raked in….

    @ Piece
    Everyone will come to understand.
    Unfortunately, some only do so AFTER the shit hits the fan.

  26. Novices talk about Bitcoin/Blockchains technologies as thought this trick is not that, a trick.

    As tough these misanthropic schemes were not with us from the dawn of modern times.

    Yuh only got to get a ‘pretty’ Trinidadian woman up front, who all de men would like to *uck and a cul-de-sac for ordinary people gets a social pass.

    Is this not violence perpetrated by women on all of society as well?

  27. MMONEY is merely an attempt by a “…Barbados organization to setup thier version of PAYPAL to skim off revenues for themselves, claiming it will make inter Caribbean country commerce more efficient, LAUGHING ALL THE WAY TO THIER REAL BANK…”

    And in those words of Wisdom Wily Coyote you have assessed the crockery that is MyMoneyisYourMoney and exposed it as the Scam that would have cause a whole Prime Minister go import bak a man from ovah and away and changed the cuntstitution to mek he a Senator.




  28. Pingback: B for Blockchain, B for Bitcoin, B for Bubble, B for Bust! — Barbados Underground – Online Marketing Scoops

  29. C is for ex-Credit Suisse bankers
    Ex-Credit Suisse bankers arrested over ‘$2bn fraud scheme’

    Three former Credit Suisse bankers have been arrested over their alleged role in a $2bn (£1.5bn) fraud scheme connected to firms in Mozambique, according to US authorities. The men have been released on bail in London while the US seeks their extradition. The scheme allegedly involved loans to state-owned companies in Mozambique. Two others, including the country’s former finance minister, have also been arrested. The former employees of the Swiss investment bank were arrested in London on Thursday. The three – Andrew Pearse, Surjan Singh, and Detelina Subeva – were charged with conspiring to violate US anti-bribery law, money laundering and securities fraud in an indictment issued by a US District Court in New York. Prosecutors say that through a series of financial transactions between approximately 2013 and 2016, they created fraudulent maritime projects and used state-owned companies in Mozambique as fronts to raise $2bn. Some of the investors defrauded included US nationals, the indictment says. It added that they “intentionally diverted portions of the loan proceeds to pay at least $200m in bribes and kickbacks to themselves, Mozambican government officials and others”

    The U.S. has no friends. Only contacts.

  30. The wild fluctuations in cryptocurrency was temporary. The long term use of it is of more value and will eventually replace traditional currency.

    The banks are on their way out and will soon become mainly mortgage holders.

    However, they will be buying into cryptocurrency when the time is right, be sure of that. As soon as maturity hits and they realise that the traditional methods of money transfer has passed the parabola peak, the crytpocurrency market will ‘fall’ into certain hands.

    Banks have been their own worst enemy, shutting branches, getting rid of customer service, to go digital.

    But digital is a whole new ballgame and they do not, yet, control it. It seems that they initially assumed that it was a neat little closed shop, or else they would have been on blockchain long ago.

    The good thing about blockchain, is that it releases smaller countries form the strangling tentacles of a fabricated regulated system, in the guise of money laundering controls, that smother business and place control solidly in the hands of a few large countries.

    Remember that there was effectively a shutdown of correspondent banks for Caribbean countries, which severely constricts business.

    Now blockchain is answering the vacuum.

    All developing countries should embrace blockchain to continue growth unshackled and refuse to allow new regulations to create new shackles on a developing technology.

    This is good for developing countries, it comes at a time when China is also flexing its arms against international monetary control. China cannot be invaded unlike some other countries who seek to use an alternate currency as their standard.

    The banks have no interest in Barbados’s GDP. They have one interest…increaisng their bottom line. That is their one and only goal.

    Blockchain is the answer for the developing world, to artificial global constricts placed by those who have control of the traditional banking system.

  31. @WilyCoyote,
    (1) “MMONEY is merely an attempt by a Barbados organization to setup thier version of PAYPAL to skim off revenues for themselves, claiming it will make inter Caribbean country commerce more efficient, LAUGHING ALL THE WAY TO THIER REAL BANK.”

    I fully agree with the above statement. It seems as if someone has a good idea to position themselves between the customer and the seller and collect fees. From what I read it is more like a debit card than a credit card. I see words like blockchain technology, but they are just putting lipstick on a pig.

    BushTea’s assessment “What is the difference between mmoney and the everyday bank debit card – except that mmoney runs on smart phone technology while debit cards don’t.” is on the mark.

    (2) “Not recognizing MMONEY as a crypto currency is a big FAILING of the BLOGMASTER. Coyote is continually amazed how easy it is for GOB to fog the eyesight of BAJANS”

    I disagree here. The more I see of mmony, the less I believe it has anything to do with cryptocurrency. It may just be a debit card with the advantage of not being tied to just one country.

    (3a) “Your argument that MMONEY is backed by hard currency is naive.
    (3b) “Anything being backed by whatever Caribbean hard currency is fraught with issues as these supposed hard currencies are themselves not realistic.”
    Disagree with your(3a) and think the blogmaster called it correctly
    Fully agree with your (3b) assessment

  32. Ask Donna “I often claim to not know anything about a topic” But I am often able to detect when a blogger has even less knowledge on a topic than what I have.
    I think Crusoe at 4:07 a.m. is in over his head.
    If I knew what the hell he was saying, I would attempt a reply.

  33. https://theoofy.com/19232/is-bitcoin-dead-btc-a-bubble-or-a-stable-investment-is-crypto-dead-is-cryptocurrency-dead-cryptocurrency-predictions-2018-2019-2020-2025-sat-jan-05/

    Kind of long… but worth a read and remember this,,, blockchain is not a cryptocurrency……… cryptocurrencies are created using blockchain technology. Some have confused the two,

    “Over 800 cryptocurrencies are now dead as bitcoin is 70 percent off its record high
    Over 800 cryptocurrencies are now dead and worth less than one cent.
    New digital tokens are created through initial coin offerings but some of these projects have been scams and many have not materialized into real products.

    Bitcoin has fallen grealy since its record high near $20,000 last year, adding to bearish sentiment around cryptocurrencies.
    Cryptocurrency projects have been popping up left, right and center in the past 18 months, but over 800 of those are now dead, adding to comparisons between the current digital coin market and the dotcom bubble in 2000.

    New digital tokens are created via a process known as an initial coin offering (ICO) where a start-up can issue a new coin which investors can buy. The investor doesn’t get an equity stake in the company, but the cryptocurrency that they buy can be used on the company’s product. People usually buy into an ICO because the coins are cheap and could offer big returns in the future.

    There has been an explosion in ICOs. Companies raised $3.8 billion via ICOs in 2017, but in 2018, this number exceeded $12 billion, according to CoinSchedule, a website that tracks the market.

    However, hundreds of these projects are now dead because they were scams, a joke or the product hasn’t materialized. Dead Coins is a website that lists all the cryptocurrencies that fall into those categories. So far, it has identified just over 800 digital tokens that it considers dead. These coins are worthless and trade at less than 1 cent.”

  34. Someone mentioned a story in the Nation newspaper about a possible scam related to ‘mining’.

    Barbadians now see their few pennies being eyed by government, private companies, online and offline scammers…

    It seems as if the word has gotten out ‘A Bajan and his money are soon parted’

    Avoid quick rich schemes
    Try to understand what you are investing in
    Know the reputation of the person who is handling your money
    Don’t be greedy
    Ignore the few who come here and pump up things they know nothing of

  35. https://nulltx.com/2-billion-stolen-2018/
    Headline: Inside Jobs Dominate as Crooks Steal $1.7 Billion in 2018, 360% Higher Than 2017″

    “Last year was the worst yet in regards to crypto crime, a new report reveals. The industry lost more than $1.7 billion to crypto crooks, three times the 2017 tally. In what has become an ever-evolving menace, the thieves have continued to refine their methods. Crypto exchanges are still targets of choice for the crooks. However, the landscape is slowly changing, with inside jobs becoming a significant new channel. Exit scams by ICO issuers and SIM swapping have also gained traction as the thieves diversify.”

  36. Well, we can’t always see the positive or negative side. Every process here is sinusoidal. There will be variation but we need to look beyond- what is our primary need?
    1. Ownership
    2. Transparency
    3. Integrity
    4. sustainability
    Blockchain is being developed to address these issues.
    If you have something to contribute by presenting, sharing your views, join us at: https://www.meetingsint.com/conferences/blockchain
    #blockchainconference #blockchainsummit #blockchainmeeting

  37. Positive note————————-
    Visited the link by Vikash Kumar Jha and had a pleasant reaction to it.
    A next positive, the meeting is in August, so you have time to google names, companies, events mentioned, date
    Going to give him a passing grade for 1. Ownership and 2. Transparency
    He may be genuine

    ________________Now for the bad news________________________________

    TheO’s rating: Still a scam


    “XC, a popular cryptocurrency trader on Twitter, shared his thoughts on Bitcoin in a recent tweet, explaining that he expects BTC to see another “scam move” up to the upper-$5,700 region, at which point it will be pushed back down.

    “Seeing weak bearish moves all across the board here, think we get one more scam move up with a harsh peak around 5777,” he explained.”

Leave a comment, join the discussion.