Updated: Aug 24
It's been a long few years in the harrowing crypto winter. Broken on the wheel of reality, a lot of us have been hunkered down hoping that the boundless enthusiasm we felt in 2017 could return.
A number of times over the last two years there have been calls of the new bull rally...'just around the corner' , but each corner turned led to more stories of scams, projects failing to deliver and markets continuing to tumble.
Now in 2020 with the explosion of DEFI and Bitcoin seeming to turn the corner, the chat has turned once again to the potential 10X ,100X and even 1000X calls for new ICO projects. Didn't ICO's die in 2018 , as our documentary following the bubble showed ? It would seem not. The moon boys (and girls) are back and the call for crypto supremacy had once again been sounded with some new ICO's selling out in minutes ( check out Barter Trade) .
Loud , crass and annoying YouTubers have replaced the last wave of loud , crass and annoying YouTubers touting the call to 'fill your bags and make you rich'.
Filling their subscriber base with tens of thousands of desperate crypto wannabe millionaires ready for the next chance to ride the rocket 'To The Moon', presumably in some ostentatious Lambo as they rap their latest social media message to the hapless crowd running alongside trying desperately to get in.
Now listening to this you could be forgiven for thinking I'm a crypto hater, one of the many casting scorn from their ivory tower of moral high ground, or from a jealous rage at missing out on this latest money making machine, but no. We too are crypto YouTubers but not of the loud, crass and annoying nature (at least we think so).
As professional documentary makers we have been charting this incredible technology and even run a weekly webshow , but we are trying to do so in a more measured way.
Is blockchain technology and crypto currency and amazing technology? We think so yes. Is the space plagued by bad actors, loud crass wannabe experts and a dirge of players that reek of moral turpitude? Unfortunately it would seem like it still is.
Be smart people. Don't make the same mistake a lot of us made in 2017 (remember Populous?) Learn how these bubbles work and listen to people who can give you measured advice on how to benefit from the upswings ....and downswings.
When it comes to trading this space it's a zero sum game and as the famous poker adage states 'If you can't spot the sucker at the table, its probably you!!
Learn from the mistakes of the last cycle by reminding yourself of how it played out last time here:
The New Kids On The Blockchain provide this as information only and it should not in any way be considered investment advice.
ALWAYS do you own research and consult with professionals before investing.