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Email this8:26 am
December 17, 2016
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After the Bitcoin Boom: Hard Lessons for Cryptocurrency Investors
Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or $90,000, into cryptocurrencies last fall. She drew on savings, an insurance policy and a $25,000 loan. Her investments are now down about 90 percent.
“I thought that cryptocurrencies would be the one and only breakthrough for ordinary hard-working people like us,” she said. “I thought my family and I could escape hardship and live more comfortably but it turned out to be the other way around.”
11:17 am
February 4, 2017
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It's no ones fault but their own if they sold at a loss. It is a volatile game and holding on is the only way to make money.
If you gamble on the quick buck or buy into ICOs of the latest and greatest projects(which turn out to be scams 99% of the time) you will lose your shirt.
This is world changing technology in its infancy.
11:41 am
February 27, 2018
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Bitcoin. In canadian dollars, over the last year had a high of approximately $25,300. Today it trades at $8,450. Buy high, sell low is my motto.
3:56 pm
July 10, 2011
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By the time my generation passes away the entire world will be based off blockchain technology..
4:16 pm
December 17, 2016
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Saying that, the Cryptocurrency markets better have a way better plan than they have now, because currently it's NO where near an everyday currency.
4:46 pm
September 22, 2017
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Im in no way a block chain guy, I watched my father in law purchase up thousands of dollars in block chain up in the 12-18k range and hes currently sitting at a huge loss, praying it bounces back.
So heres my question for the blockchain guys. (rough figures)
If block chain hit 20,000$, and when it dropped to 10,000$ would 50% of block chain owners be at a loss? ontop of that, as more blockchain is unlocked, would that number keep increasing, as it would drop from 10,000$ to 9999, 9998, etc...
increasing that percentage of losses?
5:00 pm
February 27, 2018
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I have Canadian tire currency. Will it be worth more one day? Americans take it at par... 
10:46 pm
April 6, 2013
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Yatti420 said
By the time my generation passes away the entire world will be based off blockchain technology..
Companies that are selling blockchain technology would like people to think so. But, in reality, it is more of a solution looking for a problem to solve. Any such solutions will certainly not use the bitcoin blockchain.
Similar claims were made for public key infrastructure technology. Scotiabank actually deployed such a public key infrastructure years ago to secure online banking. It was secure. But, the server-side and client-side digital certificates was an overkill. Scotiabank dismantled it some years later after they realized that.
Like everyone else, Scotiabank now just has server-side certificates on their web servers and their customers use passwords (not client-side digital certificates) to log into their accounts.
6:52 am
July 10, 2011
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PKI is vastly different then the blockchain Norman1..
Tcharger who knows what he purchased (likely an actual crytocurrency).. and yes would of suffered big losses.. Buying it after a 2000% rise is risky itself lol.. As I always say.. Investing in pink sheets is risky.. Investing in BTC/Blockchain tech etc is like investing in the wild west / westworld today etc..
I would point everybody here.. I own some of this stock.. They have a good 101 for newbies.. https://www.hiveblockchain.com/blockchain-101/
8:43 am
April 6, 2013
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Yatti420 said
PKI is vastly different then the blockchain Norman1..
Not for the purposes of this discussion. Both were/are overhyped technological solutions looking for some killer problem to actually solve.
…
I would point everybody here.. I own some of this stock.. They have a good 101 for newbies.. https://www.hiveblockchain.com/blockchain-101/
I wouldn't take lessons from companies like them. According to Bloomberg,
HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining firm. It engages in the mining and sale of digital currencies, such as Ethereum, Ethereum Classic, and ZCash. The company was formerly known as Leeta Gold Corp. and changed its name to HIVE Blockchain Technologies Ltd. in September 2017. HIVE Blockchain Technologies Ltd. was incorporated in 1987 and is headquartered in Vancouver, Canada.
Looks like one of those sketchy penny-stock gold mining companies. Call themselves cryptocurrency miners now just because they bought some servers and put them in their office.
Used to "invest" in junk like that myself in earlier days when there was a Vancouver Stock Exchange, before I wised up to what I was actually buying.
1:56 pm
February 4, 2017
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The mention of hive miners takes me back to Gawminers and Zenminers. Possibly the biggest crypto mining scam ever. They say 20 mil but I think that's conservative.
I'm not inferring Hive is a scam. I know nothing about them and I'll keep it that way.
5:03 pm
July 10, 2011
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Again the widespread lack of understanding etc is why I think people end up losing alot.. There is alot of different ways for companies to be involved so always worth doing due diligence.. If you plan to invest in crypto just assume you are completely on your own and will receive no government assistance/backing etc.. If your still ok then invest 🙂
7:18 pm
October 27, 2013
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I am going on 70 years old. I really don't care if I can even spell crypto....whatever, never mind understand it. A few $1 stocks in the past cured me forever.
11:52 am
February 4, 2017
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Yatti420 said
Again the widespread lack of understanding etc is why I think people end up losing alot.. There is alot of different ways for companies to be involved so always worth doing due diligence.. If you plan to invest in crypto just assume you are completely on your own and will receive no government assistance/backing etc.. If your still ok then invest 🙂
I have to agree with most you say. Due diligence is a problem. Scammers are a little smarter than the average joe.
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