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Reasons why you should NOT trade cryptocurrencies

Matt (BluePanther)
Jan 17 2018 at 17:17
1354 posts
Don't get involved.
If it sounds too good to be true, it probably is.



kieran (snapdragon1970)
Jan 17 2018 at 17:35
1945 posts
I would say there are a lot of buy orders at 10k with stops sitting just below,sitting ducks for whales.

"They mistook leverage with genius".
Matt (BluePanther)
Jan 17 2018 at 18:11
1354 posts
Matt (BluePanther)
Jan 19 2018 at 07:44
1354 posts
Matt (BluePanther)
Jan 20 2018 at 14:37
1354 posts
Bitcoin’s recent drop underlines a major fear: fraud in the cryptocurrency market (19 Jan, 2018)
https://www.marketwatch.com/story/bitcoins-recent-drop-underlines-a-major-fear-fraud-in-the-cryptocurrency-market-2018-01-19?siteid=rss&rss=1


CFTC brings two more cases against bitcoin fraud schemes (19 Jan, 2018)
https://www.marketwatch.com/story/cftc-brings-two-more-cases-against-bitcoin-fraud-schemes-2018-01-19?siteid=rss&rss=1


Now that’s a crypto crash: BitConnect Coin dives 90% as company shuts exchange (17 Jan, 2018)
https://www.marketwatch.com/story/now-thats-a-crypto-crash-bitconnect-coin-dives-90-as-company-shuts-exchange-2018-01-17


Why bitcoin is now the biggest bubble in history, in one chart (14 Dec, 2017)
https://www.marketwatch.com/story/why-bitcoin-is-now-the-biggest-bubble-in-history-in-one-chart-2017-12-13


Bitcoin is ‘a bubble that is bound to burst,’ analysts warn (27 Nov, 2017)
https://www.marketwatch.com/story/how-bitcoin-fever-is-like-the-dot-com-bubble-in-one-chart-2017-11-21


$4 Billion Crypto-Promoter Ordered to Halt Fraudulent Sales (4 Jan, 2018)
https://www.ssb.texas.gov/news-publications/4-billion-crypto-promoter-ordered-halt-fraudulent-sales


North Carolina Secretary of State - Cease and Desist Orders (9 Jan, 2018)
https://www.sosnc.gov/divisions/securities/Admin_Action


SEC Announces Enforcement Initiatives to Combat Cyber-Based Threats and Protect Retail Investors (Sept. 25, 2017)
https://www.sec.gov/news/press-release/2017-176


Staff Letter: Engaging on Fund Innovation and Cryptocurrency-related Holdings (18 Jan, 2018)
https://www.sec.gov/divisions/investment/noaction/2018/cryptocurrency-011818.htm


'Market manipulation 101': Wolf of Wall Street-style 'pump and dump' scams plague cryptocurrency markets (15 Nov, 2018)
https://www.businessinsider.com.au/ico-cryptocurrency-pump-and-dump-telegram-2017-11?r=US&IR=T


Could Bitcoin’s 'Whales' Manipulate the Market? (10 Dec, 2017)
https://fortune.com/2017/12/10/bitcoin-whales-market-manipulation/


One of the Biggest Crypto Exchanges Goes Dark and Users Are Getting Nervous (13 Jan, 2018)
https://www.bloomberg.com/news/articles/2018-01-12/crypto-exchange-kraken-goes-dark-and-user-anxiety-surges


WALKTHROUGH: How traders 'pump and dump' cryptocurrencies (15 Dec, 2017)
https://www.businessinsider.com.au/how-traders-pump-and-dump-cryptocurrencies-2017-11?


Bitcoin’s Big Compromise Is Unravelling As a Contentious Upgrade Threatens to Split the Network (14 Oct, 2017)
https://fortune.com/2017/10/14/bitcoins-big-compromise-is-unravelling-as-a-contentious-upgrade-threatens-to-split-the-network/


Cryptsy Founder Paul Vernon Speaks Out About Millions in Lost Customer Funds (5 Jul, 2016)
https://www.miaminewtimes.com/news/cryptsy-founder-paul-vernon-speaks-out-about-millions-in-lost-customer-funds-8568540

Matt (BluePanther)
Jan 20 2018 at 15:38
1354 posts
SEC shoots down idea of bitcoin ETFs, citing volatility (18 Jan, 2018)
https://www.marketwatch.com/story/sec-shoots-down-idea-of-bitcoin-etfs-citing-volatility-2018-01-18


Beware Crypto Traders !! Pump & Dump Group on Telegram (1 Jul, 2017)
https://steemit.com/cryptocurrency/@aqfaridi/beware-crypto-traders-pump-and-dump-group-on-telegram


Know Your Cryptocurrency Scams: Pump and Dump Cryptocurrencies (Aug, 2017)
https://hivergent.com/know-your-cryptocurrency-scams-pump-and-dump/


China just banned initial coin offerings, calling them illegal fundraising (4 Sep, 2017)
https://www.businessinsider.com/r-china-bans-initial-coin-offerings-as-illegal-fundraising-2017-9?IR=T


UK finance watchdog warns on ICOs: Be 'prepared to lose your entire stake' (12 Sep, 2017)
https://www.businessinsider.com.au/ico-fca-icos-warning-very-high-risk-speculative-investments-2017-9



Whitepablo
Jan 21 2018 at 07:52
1 posts
@Matt

1) Everybody on Myfxbook has probably seen the newsfeed. No need to copy all of the content here.
2) Everybody knows Google and knows probably how to use it.
3) Everybody knows your point by now, and if they don't they're not interested.
 

Matt (BluePanther)
Jan 21 2018 at 12:19
1354 posts
Whitepablo posted:
@Matt

1) Everybody on Myfxbook has probably seen the newsfeed. No need to copy all of the content here.
2) Everybody knows Google and knows probably how to use it.
3) Everybody knows your point by now, and if they don't they're not interested.
 


@Whitepablo

To say 'everybody' is to generalise and make a big assumption, especially when you can only really speak for yourself.

I am glad to know you are well-informed. As for 'everybody' else, they may not be as informed as you or I - hence the reason for this thread. This thread will help them by collating much of the important information in one place as an easy resource.

You are welcome to contribute constructively to my thread by sharing relevant content to this thread's purpose.
If cryptocurrency is not a subject you are interested in, I suggest this thread would not be for you.

Thank you for your feedback.

I leave you with this quote: 'Bad men need nothing more to compass their ends, than that good men should look on and do nothing.' Edmund Burke

This thread is the least I can do to highlight the risks inherent with cryptocurrencies, so people are more informed.

Matt (BluePanther)
Jan 21 2018 at 18:10
1354 posts
Forget Tulips: Bitcoin Is The Biggest Bubble In History (18 Jan, 2018)
https://marketfixx.com/forget-tulips-bitcoin-is-the-biggest-bubble-in-history/


Don't buy the hype: some proponents still push 'pump and dumps'. Ask the question: who ends up losing their money? It may be you. Learn their arguments: then run a mile the other way!

Extreme Crypto-Trader: If you’re not doing this already, why not??? (Bitcoin down -12%, Flip Trade Portfolio: UP 44%)
https://signup.portphillippublishing.com.au/X920U177

Matt (BluePanther)
Jan 21 2018 at 20:58
1354 posts
Goldman Sachs CFO R. Martin Chavez:

'Blockchain will likely be added to the important drivers of innovation in a few years, he said, and will be more important than bitcoin or any of the other cryptocurrencies, or baskets of cryptocurrencies, that have been introduced on exchanges.'

'As far as trading of individual cryptocurrencies goes, there are a number of topics that must first be addressed...'

Now even Goldman Sachs wants in on cryptocurrencies and blockchain (21 Jan, 2018)
https://www.marketwatch.com/story/now-goldman-wants-in-on-cryptocurrencies-and-blockchain-2018-01-17

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