iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
16,854 Blog Posts

LiteCoin is the Latest Craze in the Cryptocurrency Bubble: CRYPTOFAGS MUST BE STOPPED

Litecoin is higher by 35% over the past 24hrs, pushing its market cap over $2.4b. The entirety of the cryptocurrency space is now worth upwards of $110 billion, which makes it a true systemic risk whenever it implodes.

Here are all the cryptocurrencies valued at more than $1b.

Litecoin enthusiasts attribute the rise thanks to mysterious Chinese and Korean buyers — saying it’s the next Ethereum. Truth is, the reason why the valueless currency is increasing is irrelevant — because when the party ends 90% of these faux stores of value will disappear from the planet.

How do I know this is a bubble? Because assholes like this exist.

Cryptofags need to be stopped. The degeneracy is a bit too much to bear; but I’ll keep an eye on this FUCKERY so that you don’t have to. For this, you owe me both greetings and salutations.

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18 comments

  1. thegametheorist
    thegametheorist

    Ha. I opened a crypto wallet a few days ago and was wondering why litecoin hadn’t took off like the rest. Lo and behold, there it goes

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  2. sarcrilege

    No fundamentals, pure gamble. Just like casinos – people know the game is stacked and odds rigged against them, yet they go and lose their shirts trying to beat the house. No fundamentals, pure speculation….don’t invest money you are not prepared to lose.

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    • goodgreed

      Blockchain is fundamentally a better way to transact assets

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  3. ho_chi_min

    this wanton degeneracy not seen since the tulip/dot com realm of faggots is just getting started… allocate a small portion for massive gains and yolo like movements

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  4. Dr. Fly

    CRASH THE MARKET; LEAVE NO SURVIVORS.

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  5. metalleg

    I bought a bunch of LTC last week around $28. I agree with you and I’ve said this before, most of these shit-o-currencies will leave death and destruction in their wakes. Not sure which ones make it, if any, but there is certainly some coin to be banked in the meantime for those who get out before the implosion. Will I be one of the lucky ones? Probably not. But, like the casino or race track, I look at it as if I’m paying for entertainment and if I win some money, I enjoy it a little more.

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  6. moosh

    The least that asshole could have done was draw a light at the end of that cool green wavy arrow

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  7. goodgreed

    Apologizes but this is fake news. Blockchain is the real deal, Litecoin is being added to Europes largest exchange on Monday… and it’s superior to Bitcoin because it’s scaleable, faster, and has cheaper transaction costs. The cryptomarket deserves more respect!

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  8. en1gma

    Litecoin is a fork of Bitcoin. They recently implemented segwit. Many people look at Litecoin as a testnet for Bitcoin.

    Here’s one scenario that could be related to the pump: Jihan Wu who runs Bitmain released a statement about the consensus on technical changes to the Bitcoin protocol scheduled to take effect August 1st. That statement basically said Jihan was gonna do whatever the fuck he felt made him the most money and fuck the agreement he agreed to (that guy is a tool of the first order).

    Then Charlie Lee who founded Litecoin left Coinbase to work on Litecoin full time. With the scaling war in Bitcoin looking to heat up this summer and a deadline for August 1st Litecoin is looking like a safe haven to some.

    Or it’s a random shitcoin pump. Could be that too. A 35% pump is not that big a deal. Happens daily. Yes it’s crazy. So were dotcoms. But the Internet matured and thrived and so will crypto.

    Resistance is futile. Will you bank coin during this growth stage?

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    • metalleg

      I hope to. I would like to buy a few of the lesser known names selling for under $10 to get some colossal %age gains when the crypto space ignites for real. I still don’t think it’s there yet but I’m not sure how to transact in BTC on the exchanges (Bittrex, Poloniex, etc) in order to buy some Jr coins. I have this fear that I’ll do something, lose my coins, and won’t know what to do about it.

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      • sarcrilege

        Very unlikely you will lose your “coins” (I even hate to use that term) if you backed up your wallet. You’re more likely to get ripped off by exchange insiders – it happened before, it will happen again if you take the risk and store your “???” on their server.

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  9. john_galt

    Blessings to the almighty Fly! Howdy!

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  10. moosh

    what is the deal with reporting crypto gains at the end of every year? I bet the banksters know

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    • goodgreed

      Only 600 people reported crypto gains to the IRS this year… seriously.

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  11. Cricket

    In one sense CCs have the potential to be a transaction interface to the Internet; the interface between physical/fiat and digital. This market, as credit card transactions, is currently about 3.5 trillion dollars and is growing. In another sense CC’s are behaving like a store of value (for now) – attracting those who are inclined towards gold but CCs are much easier to store and protect.

    While (1) real interest rates on offer from central banks remain in negative territory, and (2) there are high risks that debts cannot be repaid (under zirp these two are now interdependent in the sense that solving one makes the other worse), then a blockchain credit currency alternative to a negative real interest rate debt currency looks awfully attractive – especially to non-dollar denominated Asian nationals. Remember that Greenspan testified to Congress in the 2000’s his grave concern that another new competitor to the federal reserve note could arise that would threaten the dominance of the dollar? Could this be happening with CCs?

    The blockchain is what give CCs value as a utility – in essence like having a distributed banking service. Suppose there is a banking or dollar collapse. What will happen with CCs? Can there be a run on CCs? These are all interesting questions yet to be answered.

    Some say that CCs will be legislated out of existence. Therefore can CCs be stopped? Bill Gates does not think so. One would think that if they could be legislated out of existence, governments would have already done so.

    My view is that the next global crisis will be triggered by the run away from the banks to CCs. Central bank policies combined with political events will be the trigger – it is but a matter of time.

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  12. masteroneass

    The applications for blockchain are infinite. This is the early stages. It encompasses most tech and some financial and services. Self driving cars AI and blockchain are the future. Bank coin.

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