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(Slashdot)   Over half of all new crypto-currencies offerings fail within 4 months. "Acquiring coins in an ICO and selling them on the first day is the safest investment strategy"   ( divider line
    More: Fail, Investment, Boston College study, safest investment strategy, coin offerings, token sales die, savings account, blue chip companies, long term buy  
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493 clicks; posted to Business » on 11 Jul 2018 at 8:51 PM (31 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2018-07-11 09:43:29 PM  
8 votes:
1.bp.blogspot.comView Full Size
2018-07-11 11:45:55 PM  
7 votes:

Ishkur: I should just start writing symbols on napkins, tear off pieces and start offering them at $10 a piece. "IPO of Napkincoin! The only cryptocurrency that has a physical denomination!"

"Once upon a time, people thought gold was intrinsically valuable, so they used it as money. Eventually they realized that carrying around pieces of paper that said "exchangeable for one gold" was more convenient than carrying around the actual gold, particularly if there were sufficiently robust legal mechanisms to make sure that the paper was actually exchangeable for the gold. And then the pieces of paper-and even more abstract instruments, like electronic ledgers listing how many pieces of paper each person owned-became just incredibly, incredibly convenient, a centerpiece of an economic life that was vastly richer and more efficient than the old economy where you had to cart around gold ingots. And then one day, after many years of this, the government said "you know what, these pieces of paper aren't exchangeable for gold anymore." And everyone just sort of shrugged and said, it's fine, we like the paper, it's not like we were exchanging it for gold much anyway, that was a nice idea but it's not really central to how the system actually operates. And now the pieces of paper work because they work, not because they reference some other thing.
And sure it says on page 1 of the textbook that the share of stock represents a claim on the future cash flows of the corporation, and sure that fact is in some sense the foundation on which the whole thing rests. But the whole thing is good,and people and business models and industries rely on it, and the notion of treating shares of stock as part-ownership in a corporation is so useful that it doesn't particularly matter if it's true. The shares of stock have a particular kind of value because everyone treats them as having that particular kind of value, and everyone treats them that way because that is a
collectively useful way to live. It turns out in practice that if you chip away at the foundation, the edifice is so artfully constructed that it will keep on standing in midair.

Incidentally this mostly explains initial coin offerings too."

From today's "Money Stuff" by Matt Levine.
2018-07-11 11:13:08 PM  
7 votes:
Face it... you didn't buy $1,000 in Bitcoin at 50 cents a coin and have $12 million now.   Get over it, it isn't going to happen again in crypto currencies.
2018-07-11 09:06:14 PM  
4 votes:
encrypted-tbn0.gstatic.comView Full Size
2018-07-11 09:02:36 PM  
4 votes:
Duh. Once the "founders" have the suckers' money, there's no need to carry on with the charade. I'm surprised there are any that last past 4 months.
2018-07-11 08:47:50 PM  
4 votes:
Having a Brinks armored car overturn on the road in front of you is the safest strategy
2018-07-11 09:33:33 PM  
3 votes:
I should just start writing symbols on napkins, tear off pieces and start offering them at $10 a piece. "IPO of Napkincoin! The only cryptocurrency that has a physical denomination!"
2018-07-12 04:15:02 PM  
2 votes:

Dick Gozinya: but that's investing in a nutshell.


If it ends up with me lying in bed with 1990s Elizabeth Hurley, I'll take it!
2018-07-12 12:30:19 AM  
2 votes:
Crypto currencies are pyramid schemes.
2018-07-12 08:32:28 AM  
1 vote:
People who buy random coins in ICOs make people who buy Bitcoins look like Warren Buffett.
2018-07-11 10:38:56 PM  
1 vote:
img.fark.netView Full Size
2018-07-11 09:08:57 PM  
1 vote:
steemitimages.comView Full Size
2018-07-11 07:35:08 PM  
1 vote:
Make sure to safe often and don't let Yorda wander off.
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