Bitcoin , biased journalism ,C.C.N. BitscamLast night, a journalist from C.C.N., while Bitcoin was still in freefall, urged and ADVISED people to buy in. Explaining that at around 4600 (and change, who can keep track - unless it's your JOB) Bitcoin had found it's bottom. The piece was marked as an Op-Ed , a disclaimer indicating that he is not a financial advisor - this was not to be construed as advice , and everything else that is verse and chorus in the "please don't sue or prosecute me" song. "Buy the dip."
If you are still in H.O.D.L. , and bought the "dip," depending upon what amount you bought you have that much less wealth. If you set a stop loss, you have that much less wealth. Fool me again??
Once upon a time Journalism was an entirely different entity. Conducted with respect , integrity and FACTS. Last nights article brought me too a surety that is making my blood boil. I didn't buy the dip. I'm not drinking the Kool- Aid. I had to quit. WHY?
We who make up the community of Tech enthusiasts and /or investors have been done a GREAT INJUSTICE for about a year now , perhaps longer. It's like Bernie Madoff squared.
If an untrained, self taught observer like myself can see that the traditional weights and measures do not and can not apply to crypto , Journalists working under aid in this very esoteric sector most certainly should have come to the same conclusion before costing people their hard earned money day after day with their arbitrary analysis and predictions. My blood is boiling , why?
The people of this world have been subject to the biggest scam , ponzi pump and dump scheme in the history of man!!! Biased journalism , naked price manipulation that can be SEEN if you watch an order book , perpetuation of f.o.m.o. , fomenting gambling addiction , lies about price direction , support levels, resistance points. Constant prodding with the baseless claims of imminent breakouts. The sickest part of this is that people are behind what is happening and they have grown very , very wealthy. Bernie Madoff wealthy.
Not everyone is guilty , and I am quite sure that journalists who work for crypto new companies are under pressure to sell these stories. After all , an entity devoted to crypto news exclusively wouldn't thrive if they told the real truth. I suspect bribery in one or more forms , job pressure , and a herd mentality that tends to cause these writers to agree with each other. They probably just re-word another article half the time.
I DO believe that a digital currency will thrive based upon it's technological merits and use cases, but that is a product of research and I am not going to do this community the disservice of mentioning which one.
Nobody has been talking about the human toll. Disclaimers aside , there are a lot of dreamers in the world. During the Great depression , or as it ensued , people became so distraught that they were jumping from buildings often enough for it to be etched into human history. The stock market eventually put protections in place so those events would be less likely. THERE ARE NO PROTECTIONS IN THE CRYPTO MARKET.
There are people so deep into this downward spiral they cannot make themselves cut their losses. Insanity is defined by repeating the same cause and effect actions again and again , expecting a different result. There is a human toll , taken by greedy fat cats and scam artists who have no qualms about killing peoples dreams , savings , retirement resources etc.
I'm done. No more writing. I will not inadvertently cause any harm to this community.
Mining for nothing, hash wars , halving etc. - there are digital transaction networks and their tokens that don't require mining, but like I did , you'll need to research that if you don't already know , and while that may be an advantage , I'm only sure about the fact that I am very , very unsure.
Caveat Emptor.
Best of luck and fortune to all of you.
