I wanted to believe the platform was doing right by its investors until i hit that little release button and saw the sorry you have to wait two weeks to get your loan back. Two weeks in Crypto world is a lifetime. The only thing i purchased was a valuable lesson about crypto lending platforms. I guess Homeblockcoin and the rest are all lining up to sell tickets as well. The real question i have is who was selling on its decent? Only savvy investors or the company itself? After Bitconnect everyone wanted to exit but loans were locked so it was what it was. The recent letter does little to alleviate investor angst when the coin is now worth a whopping 1 cent in BTC. My only regret is i didn't get the free liquor like when you gamble in Vegas; That and the fact that i ignored fundamentals like how can you make money enough to insure 1-2 percent investment returns daily for every one of you lenders consistently for almost a year? Many smart people including myself(i have a doctorate degree in science and own my own business so i know math and the fundamentals of money) believed in the land beyond the rainbow and we all got our asses handed to us. The real study here is a psychological one in how do you get seemingly intelligent people to believe in investments that fundamentally have no foundation other than hype, speculation, and yes likely PONZI SCHEME level support. The second question is does a bear market built on an overall bubble in non crypto and crypto land signal something more ominous about a country's economic system that was originally built on sweat blood and tears now being rife with magical money thinking, bubbles, and little to no true infrastructure to support asset valuation like say a Tesla or Apple who also lose their investors money but overall not as much and not as bad depending on timing of course. The original asset is of course in the case of companies like Tesla and Apple solid and tangible with obvious value. Mining was the original way of making money off cryptocurrencies which required a lot more than online gambling skills.Knowing how to read charts on shit coins doesn't make them golden coins. It required knowledge of the block chain and the ability to set up hardware among other skills. My hope is that some lessons in life are learned the first time,, and don't need to be repeated.
Conclusion: buy the ICO sell after price goes up. Don't be greedy and never in with more than $1 pear coin. Now all lending platform are in shock. King is dead, Long live the king, but who will be next king ???
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