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Scams have made headlines since the inception of the internet and with the advent of cryptocurrency, the topic is still trendy. The scam in the cryptocurrency space, both recorded and unrecorded continues to multiply on a daily basis with recent updates suggesting that about $9 million is lost daily to cryptocurrency scams. The most popular types include Ponzi schemes, fraud, phishing, initial coin offering (ICO) scams, hacking, fake application, and even theft. Although this is heartbreaking, it is believed that individuals who indulge in this awful activities both the investors and the operators of the schemes are forced to do so by their station and financial status. Cryptocurrency enthusiasts hope that the scams in the industry will be reduced to a minimal level as technology advances rapidly.

 

However, it is clear that with the advancement scams also advances in frequency and sophistication. New strategies to scam investors are devised on a regular basis and the population of individuals who engage in these schemes grows bigger. It is believed that the scams in the cryptocurrency industry are what has set the government of many nations as well as financial institutions and experts against the notion of digital coins. In recent times, financial institutions and even search engines and social media platform have taken active steps to reduce or ban transactions and ICO ads from their platform.Financial experts have also dedicated time and resources to educate investors across the globe of the risk involved in putting cash into digital coins. Meanwhile, the number of investment in this virtual currency continues to multiply.

 

A few financial experts have taken a different stand, stating that investors are not to blame for putting their money into something as uncertain as cryptocurrency investment, rather their impecuniosity should be seen as the culprit. It is true that a substantial proportion of the population has closed to zero investment opportunities. The heat of this situation can be safely blamed when such individual decides to invest in get-rich-quick schemes in the cryptocurrency space or even partake in such activities. For instance, Ponzi schemes promise to reward its investors with a substantial amount of money within a short period of time, which sounds exciting to individuals who tirelessly search for ways to make ends meet.

 

It is believed that the risk in the cryptocurrency space is not half as much as that in the lotto and gambling industry, yet the government legalize it and forbid cryptocurrency transactions. Statistically, it is estimated that about half of United States adult play the lottery, with official lottery data providing that the population who participate in betting regularly is about 3 million in the Republic of Philippines. This a large number and if an average lottery player wages a dollar daily, it will amount to $365 annually, which is a guaranteed net loss. This invariably means the average amount spent on lottery by bettors in the Philippines is the annual amount spent by an individual multiplied by three million which amount to $1.095 billion lost annually.

 

It is important to state that this figure does not include the money spent betting on illegal gambling schemes such as cockfighting and Jueteng where the figure may be quadrupled. Cryptocurrency, on the other hand, is believed to be a risky exercise that offers no guarantee or consumer protection, but this point can be safely argued otherwise. A smart and intelligent cryptocurrency investor can convert a meager capital into a substantial sum of money in the digital coins space, but no matter how disciplined a gambler is, the improbabilities in the betting industry are unimaginable. There are over 800 cryptocurrencies and this number is rapidly increasing on a daily basis. After calculating the possibility of growth and profit, an investor can easily purchase the digital coin he desires to own right from the comfort of his home with no intermediaries or involvement of any governmental or financial institutions.

 

Cryptocurrency investment provides ample unprecedented opportunities for investors. Storing cryptos in vaults or online wallets, waiting for its value to multiply may sound like a child’s play to many financial experts but it is better than the lotto as it gives individuals a total control over their assets. Furthermore, no matter how little your investment or how risky cryptocurrency investment is, a skilled and hardworking person can make substantial returns in no time. New investment opportunities continue to evolve in the cryptocurrency space. This even gets better as digital coins are now easily procured with the development and installation of cryptocurrency automated teller machines (ATM).

 

In March, reports states that two cryptocurrency ATMs where installed in Georgia in other to make the exchange of bitcoins and Litecoins hassle-free with support for Ethereum and Dashcoin expected in the nearest future. Many online stores now allow customers to pay for goods with digital coins with lower fees compared to the traditional currencies. In addition, a new concept known as Bitcoin IRA provides investment opportunities for retirees. It helps to create a cryptocurrency IRA investment account that can be benefited from at retirement. Retirees will only have to pay fewer fees compared to that of the traditional currency plus, they just have to sit and watch their investment grow in the cryptocurrency space.

 

Cryptocoins are rapidly growing in terms of awareness, acceptability, and investments. It can now be used to make payments for products from local and international stores ranging from the purchase of groceries to the management of online contents as well as the procurement of digital assets. Even with the risks, high volatility, scams and hacking activities in the cryptocurrency space, it still provides innumerable investment opportunities for its users and it is believed by many cryptocurrency enthusiasts that this is just the beginning. The industries are projected to grow like wildfire over the next 15 years, providing new investment opportunities and revolutionizing financial institutions in ways that were practically impossible with the traditional currencies. Digital coins provide everybody with equal opportunity to own it and take part in the growth of the industry over a period of time.

 

 

 

 

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STILL POSSIBLE??? What's your say?

 

Cryptocurrency Analyst Predicts That Bitcoin Price Could Hit $25,000 This Year

 

A cryptocurrency analyst predicts that bitcoin price could skyrocket this year. According to reports the CEO and founder of digital assets investment fund BKCM LLC, Brian Kelly suggests that bitcoin could set an all-time high record before the end of this year by hitting $25,000 per token price. The cost of the cryptocurrency dropped at the beginning of this year thereby making several investors worry about the future of their assets.

 

Financial institutions and experts also seized the opportunity to air their opinions about the unreliability of the future of bitcoin. However, the fears of fans and investors were mitigated at the beginning of this week as the cost of the digital coin increased by about 13.5 percent. Bitcoin has maintained the same price range ever since with no significant increase or decrease in its cost.

 

It’s believed that this led Kelly to predict that the volumes of transactions in the cryptocurrency, as well as its cost, will likely increase significantly before the end of 2018. He made the prediction during an interview with CNBC earlier this week. Meanwhile, the analyst isn’t the first to predict an increase in the price of bitcoin. Many strategists including Thomas Lee and Tim Draper have suggested that the price of the cryptocurrency will hit the roof over the next few years.

 

During Kelly's interview, he made a remark with regards to the forecast made by draper stating that it isn’t unrealistic. Draper predicted that there are possibilities that the price of a BTC token could hit $250,000 by 2022 which is about 3,000 percent increase over a period of four years. Kelly supported this prediction and added that considering the fact that bitcoin recorded a 4,000 percent increase in the past couple of year, the cryptocurrency would likely hit this record by 2022.

 

If cryptocurrency enthusiast could remember, Draper predicted in 2014 when the price of bitcoin was about $320, that the cost of the cryptocurrency would skyrocket in 2017 to cost over $10,000, which turned out to be true. It may seem that Brian Kelly isn’t the only one that has high hopes that the price of bitcoin could skyrocket before the end of this year as the management of Pantera Capital - a cryptocurrency hedge fund revealed in their April newsletter that the price of bitcoin will hit the bar before the end of the year.

 

According to reports, the management added that the price of bitcoin which was about $6,500 at the time the statement was released is probably the lowest cost that the cryptocurrency could hit and that the price will increase significantly to hit $20,000 before the end of 2018. This isn’t the first time the management of Pantera Capital is making a prediction with regards to the price of the cryptocurrency.

 

 At the fall of 2017, the CEO of the company, Dan Morehead reportedly predicted that the price of bitcoin would likely drop about 50 percent before recording new high figures. This prediction partly came to past as the cost of the digital coin fell drastically below $7000 in the past couple of months which is about 65 percent decrease. However, bitcoin price has risen and has maintained the same range throughout this week.

 

It’s still unclear whether these predictions are based on some reasonable data or just a wild guess, but the bottom line is that they turned out to be true. Morehead also stated in the newsletter that this is just the beginning of the price increase as a wall of institutional money will contribute to the continuous increase in the price of bitcoin. Other reports earlier this week revealed that many different Wall Street players ventured into the cryptocurrency space, one of which is the venture capital arm of Rockefeller - Venrock that partnered with Coinfund, a cryptocurrency investment firm.

 

It’s also reported that the executives of Goldman Sachs has left the company to join a cryptocurrency merchant bank operated by Michael Novogratz. Additionally, Soros Management Fund is reportedly prepping to venture into cryptocurrency trading. Morehead added that the current increase in the cost of bitcoin is a rare buy signal because it isn’t bad to buy something at $7,000 which previously cost about $20,000 and which is expected to cost more within a short term.

 

The CEO holds a strong opinion about the imminent rise in the cost of bitcoin and he blamed the post new year decrease generally on the unintended tax position created by the cost of the token. This tax position opinion compliments that made by Tom Lee, who stated that tax could be the culprit behind the general downturn of cryptocurrency market since the beginning of 2018.

 

Many cryptocurrency analysts have submitted different opinions stating the reasons they believe to be behind the downturn in the cryptocurrency market, which is treated lightly by crypto enthusiasts who are now looking forward to the outcomes of recent predictions. There is no assurance whatsoever on whether these predictions will turn out to be true but fans are hoping that it will.

 

Even with the fall in the cost of bitcoin over the past few months, the cryptocurrency is still the biggest in the digital coin space and as already stated above, there is a rapid influx of investors. In addition, bitcoin is growing rapidly in terms of awareness and acceptance. Bitcoin enthusiast holds strong opinions that the cryptocurrency will grow even bigger. A blockchain marketplace executive stated earlier this year that the price of BTC will skyrocket sooner rather than later.

 

Although he didn’t state specifically when this price increase will take place, the CEO of distributed marketplace Shopin, Eran Eyal noted during an interview that the price will grow bigger to surpass $100,000. The predictions from analysts are followed by the recommendation that this is the best time to invest in cryptocurrency profitability, but so many investors are yet to recover from the post new year price drop.

 

The negative attitude of financial institutions and experts toward the cryptocurrencies is also a contributing factor to the reluctance of many other aspiring investors.

 

 

 

 

 

 

 

 

 

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People have lost a lot of money due to the virus attacks, malware attacks, and hacker attacks on the crypto markets. The scammers have taken full chances to make the people fool due to their lack of knowledge and experience. Am I right?

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