Jackson Palmer: The Cryptomarket Is All Wrong

Jackson Palmer: The Cryptomarket Is All Wrong

Australian entrepreneur Jackson Palmer is blown away by his cryptocurrency. You can follow him on YouTube . Dog ecoin was created as a joke, but this cryptocurrency has reached a market capitalization of $2 billion.

According to the entrepreneur, the altcoin-meme Dogecoin, created by him in 2013, was designed to help not advanced users to better understand the world of cryptocurrencies. Dogecoin was notable for its low price and friendly community.

Our top trading bots

But in 2015 the atmosphere in the crypto-world has completely changed, Palmer said - "possibility for the players with big money and obvious plans to earn even more. Technologies have come to the fore. From this moment, the madness in the cryptocurrency market began.

He recalled the classic stock market high: "When a taxi driver tells you to buy shares, you know - it's time to sell them." Palmer remembered this proverb when Uber drivers began talking to him about Ethereum.

I realized that we are entering a new period of speculative cryptomania.

This phenomenon is best characterized by the ICO, he said. In 2017, a boom in the ICO's began, many of which were outright fraud, PlexCoin as an example.

He said earlier that the cryptocurrency market is a bubble. The question, in his opinion, is not "when will it burst?", but "what will happen next?".

As soon as the crypto-bubble will blow away and all the hype with it, will the community be able to once again return energy to build a real innovative technology?

Earlier Ethereum and the general director of the blockchain company ConsenSys Joseph Lubin said that after deflation of the bubble in the market, the cryptocurrency will be updated. The founder of the altcoin NEO is of the same opinion.

Information Source: Motherboard

BitMEX execs reveal EU expansion with German bank acquisition
Founded by BitMEX Group CEO Alexander Höptner and chief financial officer Stephan Lutz, BXM Operations AG announced Tuesday its plans to acquire Bankhaus...
Indian prime minister Modi's hacked Twitter account attempts BTC scam
The official Twitter account of Indian Prime Minister Narendra Modi got compromised earlier today, which was then used to share misleading information about...
‘#DropGold worked’ — Grayscale ‘flippens’ world’s largest gold fund as AUM hits $60B
Bitcoin (BTC) and altcoin investment firm Grayscale now has more assets under management (AUM) than the world’s biggest gold fund.According to the latest...
The stablecoin scourge: Regulatory hesitancy may hinder adoption
The stablecoin market has been growing exponentially — from only $21.5 billion in mid-October of last year to $130 billion at the start of November; a six-fold...
BetaShares crypto company ETF smashes Australian records on opening day
Australian fund management company BetaShares’ new crypto company ETF smashed Australian Securities Exchange (ASX) records within the first 15 minutes of...
BTC price hits $57K five-month high — 5 things to watch in BTC this week
Bitcoin(BTC) is in top form — almost literally — as it heads into a new week less than 15% from all-time highs.A classic cocktail of factors has laid the...
Indian university joins Hedera decentralized governance council
The Indian Institute of Technology Madras (IITM) has become a member of the Hedera Hashgraph council for decentralized governance.IITM is one of the top...
Price analysis 9/8: BTC, ETH, ADA, BNB, XRP, SOL, DOGE, DOT, UNI, BCH
Analysts are attributing Bitcoin’s (BTC) plunge on Sep. 7 to the liquidation of over-leveraged positions. According to Bybt data, about $3.68 billion worth...
George Soros’ investment fund is reportedly trading Bitcoin
Soros Fund Management, the private investment firm of billionaire George Soros, is reportedly trading Bitcoin (BTC) as part of a broader exploration of...
John McAfee’s suicide reports raise disbelief, spark conspiracy theories
Often a figure of ridicule within the crypto community thanks to his outlandish predictions as well as being a larger-than-life personality, John McAfee...
MakerDAO moves to expand collateral assets and upgrade liquidation engine
Decentralized lending and stablecoin protocol MakerDAO has opened governance voting to allow new tokens as collateral.A number of new collateral types have...
XRP Falls 11% In Rout
Investing.com - XRP was trading at $1.50223 by 07:18 (11:18 GMT) on the Investing.com Index on Friday, down 11.48% on the day. It was the largest one-day...
For The First Time Binance to Open in Uganda, Touch Fiat
The international cyber-currency trading venue Binance is getting ready for the set off of its crypto-fiat “subsidiary” in Uganda. Changpeng Zhao, the top...
Japanese Electric Giant Tests Blockchain and Lightning Network for Charging Electric Cars
The Japanese electric power giant has decided to take on a challenge of using blockchain and the acclaimed scalability solution Lightning Network in the...
Mezzo Virus Threatens Cryptowallets
"Kaspersky Lab" revealed a new financial threat - the Trojan Mezzo, which can replace the details in the files of exchange between accounting and banking...