In the crazy world of altcoin cryptocurrency trading.

[kafa88]

It was a Saturday morning and Adam felt brave.He made thousands of dollars in one trade the night before and felt lucky. But Adam isn't trading on NASDAQ, pumping GameStop stocks, or investing in a start-up.He is sinking $ 2,500 in a cryptocurrency called DeTrade.Seems safe Adam reviewed the coin's development team on LinkedIn and watched a video of the CEO planning work for the future of the coin.The newswire piece published on Yahoo convinced DeTrade's technology to advance enough to disrupt the cryptocurrency.Thanks to Bitcoin's all-time high of $ 40,000, which has nearly tripled in two months, the cryptocurrency is back in the zeitgeist segment, but as many people, Bitcoin is synonymous with. cryptocurrency But it's not something that crypto traders like Adam are interested in, under Bitcoin and Ethereum, the second most well known currencies, are their sources. cryptocurrencies Different

They are called altcoins, or sometimes "shitcoins," which are digital currencies that are primarily denominated in currency. And they're crazy.Bitcoin has tripled its value lately, but many altcoins have exploded 30, 40 or 50 times in a matter of days. The most famous of them is Dogecoin, which was recently fired with a combination of Reddit and the potent Elon Musk, but with thousands of altcoins forming Indiana Jones-esque's Crypto Wonders' den, the waste can change lives. have But there are traps around each corner, destiny can be created and lost in seconds. Cons and scammers are common, with traders vulnerable to scam at different stages of the process.To the point: Adam's attack on DeTrade, the technology touted behind it, is not true. Nothing about the project, there is no DeTrade for all intents and purposes, the LinkedIn profile is fake, and the CEO's video is a fake, built with AI, it's a scam. The man behind the run in the world of uncontrolled crypto has disappeared. Adam lost $ 2,500, but he was easily dropped. In total, the people behind the scam earned about $ 2 million.Adam just said a typical day playing with altcoins.

Million dollar jokes

Adam entered digital currency in slotxo September. When we talked about it, it felt like he had been cramming years into two months of trading, he put in $ 4,000 and lost it in a few days. He then converted $ 3,000 to $ 90,000 after withdrawing a third, and then losing a third, he now has around $ 20,000.Adam has seen intense trading in the past few weeks. One person can flip $ 2,000 into more than $ 40,000 in two different times. But lost everything at both times Another guy put in $ 150 and doubled his money in 15 minutes. The result is fine, but his $ 150 would turn into $ 28,000 if he waited just one more day.But despite the enthusiasm of the community But there are a few problems right now, cryptocurrencies. Did nothing Investing in stocks means examining value based on factors such as competition, risk and, above all, generating profits, then investing the money in lower-value stocks. If other investors follow you, the stock will increase, giving you the opportunity to profit.

Speculation is a natural part of this. Dot-com Bubble is all about pouring money into "pre-profit" companies in the hope that they'll make money someday. Causing speculation in the stratosphere For the most part, cryptocurrencies are pure speculation. People are investing in technology that is neither prone to use nor practical. As I write this, the so-called meme coin sells for $ 517, which is four times the price of Apple stock. Doge, the coin marketed after internet slang for "dog", has doubled in value earlier. This month after a porn star tweeted about it. After the price plummeted, the price soared again as Reddit wanted to make it the cryptocurrency's GameStop.This disconnect between price and purpose leaves many experts understandably skeptical.David Gerard was a skeptic, he first became interested in Bitcoin in 2013, reaching $ 1,000 for the first time, and wrote two books on cryptocurrencies. Most recently, he focused on Libra, Facebook's bad effort in cryptocurrency.

The driving force of Bitcoin and cryptocurrencies has nothing to do with technology," he told me during a Skype call. "It's all about the opportunity for people to get rich for free. It's all about the psychology of fast-rich schemes.Over the years he worked as an IT administrator, Gerard's job was to examine new technology and sort out what's useful and what's not. Cryptocurrency He told me not Bitcoin has burned the electricity bill across the country for the most inefficient payment network in human history," he said.That's not an exaggeration. Cryptocurrencies Mining using powerful computers and many enterprising types have gathered computer farms that were used solely for the purpose of mining Bitcoin.

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