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Yorktown, VA/USA
Experience: Intermediate
Platform: NinjaTrader
Broker: Optimus Trading Group
Trading: TF, NQ
Posts: 47 since Sep 2011
Thanks Given: 11
Thanks Received: 22
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"Any financial instrument which is isn't regulated is an incalculable risk. I would bet there is a lot of insider trading activity that can't be seen. And everyone who trades this crap is contributing to their profits. It's a sucker's market."
No doubt this is a very volatile market, with fraud, but there are also regulated exchanges like CoinBase, GDAX and Gemini. The volatility is not all that different than say MS or Apple after their IPO's.
Incalculable risk ? Isn't the risk the capital invested?
Is it the trading that you don't trust or the underlying asset?
Is buying and holding a good investment? IE not trading?
Do you understand the technology or see any value in the platforms?
I understand the tech and am learning more all the time. The financial industry sees the value of this tech as they are moving towards decentralized blockchain technologies to enhance their businesses.
This is revolutionary technology and it is disruptive. So is there value there? Tesla is regulated yet hasn't made a profit since it's IPO.... is Tesla a scam? Tesla is selling shares with an upside down balance sheet, they are regulated... so is Tesla more legitimate?
I would say that Tesla is somewhat legit in terms of transparency and accounting. But even accounting standards are questionable in many "regulated" companies.
Granted 95% of these crypto's will not survive and many are out-right scams. But every investor must do their do-diligence. I admit that this is the difficult part....but I've invested in too many IPO's that are "Regulated" done my do-diligence, however most have failed. Many I believe were out-right deceptive in the assumptions and future prospects of value...always a hype when they want money from investors . and not really solving the day-to-day business operations and the hard work of creating a successful profitable business. More into selling an idea and a hope than real value.
Most of these cryptos are the same, but many are real profitable companies applying Blockchain technology to enhance their business model and gain market share.
It is the wild-west...hence the high returns.
"And everyone who trades this crap is contributing to their profits."
Do you mean the exchanges' profits, other traders, or investors?
I'm quite happy with my initial investment of 5 BTC at $450 now worth over $50K. I'm quite happy with my purchase of ETH at $40...now roughly $450. Or NEO at @2 now around $40
Respectfully..... guess I got suckered
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