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Chasing the Micro Cap Crypto Gems #4 – Skrumble Protocol – Why We Changed Our View On This?

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Micro Cap crypto Gems

The tricky thing about finding micro-cap gems is that we have to find something that fits our crypto framework criteria and still be under $10 Million in the market cap.   

The project that we picked today had a few flags while we were researching and we promptly reached out to the team to clarify.   

You will see our initial views/opinions based on publicly available information and the response from the company.

What is Skrumble Network?

What is Skrumble NetworkThe core concept behind Skrumble Network is that when data is stored in one centralized location (like a Server) it poses the greatest security when it gets hacked.

However, if your data is fragmented and stored on decentralized servers, even that particular decentralized server gets hacked, your data is still secured because the fragmented piece that got hacked is usually incomprehensible.

Skrumble Network helps decentralize the communication protocol by using Blockchain technology.

Skrumble Network helps facilitate File transfers, secure messaging, Video streaming and calling.

how Skrumble network works

Whitepaper describes: “Skrumble Network is a secure, communication-centric blockchain, decentralized communication application and a communication layer for developers to add into any application. With no middle entity or centralized server host in between to censor, block or manipulate any data, Skrumble Network will enable open, global private communication and transactions that are truly community owned and operated.”

One of the distinguishing factors about this project was that it was initially developed with an established company behind this crypto that has been in the business for more than half-a-decade and they know how to deliver a product that is used in the real business world.

Applying our framework

As is our custom, let’s apply the CryptoTapas framework around this project.

Problem

The security around our communications is as old of an issue as the internet itself.

This concern has become more pronounced in the recent years with the news of hacks and breach of confidentiality, and utter disregard for privacy.

Now that COVID has completely changed the way we work (especially working from home), the security around communications is now taking the spotlight again.

If Skrumble Network addresses this issue in a novel, scalable and easy to implement way – it might have a great chance at this massive problem.

Team

Eric Lifson seems to be working on Skrumble Network for over 3 years now, and he was quite accommodative when we reached out to him with questions. 

When we looked at the team page on the Skrumble’s website, with the exception of three members, everyone who is listed on their team’s page is no longer with the company (some since July 2019) and this disappoints us that they have not updated their own team’s profile.

Skrumble Network team

More importantly, if everyone jumped the ship, who is behind the project now?

The flagship app on Skrumble Protocol, GetAlly, shows the team members that are also associated with Skrumble Protocol, however, most of these team members are no longer with Skrumble.

Question for Skrumble Team: Who is working on this project? What is the current team structure?  

[Update: The project informed us that all these people have at one point worked on the project. While the team has downsized to a team of about 6 core people, SKM has a strong brand and past and present members prefer to maintain recognition of their achievements. Moreover, several are still contributing, just not on a full-time basis. Any who do not, the team offers to remove them at any time. This is now more in line with how ongoing DAOs (Decentralized Autonomous Organizations) seem to be operating.]

Partnerships

Skrumble Network’s Ally dApp claims to have a 150K user base.  They also teased about the upcoming partnership to take the DeFi initiative forward.

We actually like the advisor profile associated with the Skrumble Network project one of whom is Anthony Di Iorio, co-founder of Ethereum.

Apart from Anthony, Skrumble has Jeff Pulver who is the co-founder of $3 Billion communication company, Vonage.

That is quite a respectable name association with Skrumble.

Question for Skrumble team: Have there been any changes in the Advisor group (similar to team changes?).

[Update: No. We also still Jin Tu – former CTO of Aion, OAN boardmember and Cofounder of Axis DeFi, who is an Expert Blockchain Architect. 

Redouane Elkamhi,
PhD, Associate Professor at Rotman
Leader in Fintech & Blockchain at the University of Toronto 

Kevin Hsu,
Founder Partner at BlockVC
Investor in Ontology, RSK & QTUM 

Jiangang Wu, PhD
Co-Founder of Fusion
Professor of Finance & Blockchain Economics at Shanghai University] 

Addressable market size

Secured communications, whether it is simple file sharing service or video streaming or chatting is a huge market.

It has only exploded in value in the past few months when people were forced to communicate over the internet instead of in-person meetings.

This trend will only become the norm as the internet becomes more accessible (Elon’s Starlink reality) and companies start restricting travel.

File transfers, messaging, video streaming and calling verticals market size is in $100s of Billions, if not trillions.

Revenue model

Question for Skrumble team: How does Skrumble Network generate revenue?

[Update: The core problem for SKM has actually been the volatility of the utility token model in general. We will address this in more detail later.]

DeFi + Communication?

Skrumble Network’s official blog was silent since October of 2019, although remained very active on Telegram, and resurfaced with an announcement that Skrumble Network is going DeFi. 

The announcement about a partnership with Juggernaut reads “unique custom financial modelling and DeFi deployment, it can enable token projects to have real, sustainable, and modular business models built around their utility model.”

Is this another attempt to exploit the market craze around DeFi?

We asked the team this question directly.

Skrumble Network Roadmap

Question for Skrumble Network Team: What drove this decision to look at DeFi and what unique attributes do you think will help Skrumble succeed in this space? 

How does this Juggernaut help Skrumble’s vision?

[Update: Really, we see two sustainable business models so far in the space – 

  1.     platform tokens (for exchanges) with only room for a few like Huobi or Binance
  2.     DeFi due to the collective staking, lockup and general collateralization of new directions and ability to focus on new industries.

A two-token solution is the only way to do something meaningful and sustainable in my opinion with a utility token. One for utility and one for profit sharing. They are missing the sustainable business model. They don’t have enough usage to reach a critical mass and the DeFi synthetic at least has a chance to have something closer a traditional ‘share’ balanced approach. 

Most proof of stake with inflation models will reach a point where one has to ask where any utility token can be able to sustain beyond initial interest 

This is why we must change the game. 

Basing anything on a pure utility token that fluctuates is basically unsustainable. This is because when people are in the money they just leave to the next hot project. People who operate in DAOs want something more stable to base their livelihoods on. They want something closer to USD that can be more stable and scalable. 

This is an overview of how we see DeFi becoming a crucial component going forward:https://medium.com/juggernaut-defi/skm-partners-with-jgn-to-develop-first-defi-communication-network-20ba9a3ccf38 

What do we like about Skrumble?

We like the fact that Skrumble Technologies has been a technology company since 2014 and it has leveraged some technology and strategic guidance from them in their initial inception.  It has real business with actual clients in the market.  How many of the 6500 cryptos can claim that? 

Additionally, the company has patents to its name and helps them deploy proprietary solutions in the market. 

In addition, we like that the co-founder is quite active in working on building Skrumble Network up. 

You can go to the Telegram and see him responding to the questions posed by the community. 

When we reached out to Eric, he provided a quick ‘highlight’ of Skrumble for someone who is new to the project, we have reproduced what Eric shared with us below (we have not independently verified this information): 

Skrumble Network is reshaping freedom of speech and data privacy with a communication-centric blockchain due to our unique PoA architecture, formidable global community, robust proprietary chain, accomplished advisors, and top-tier exchanges. 

🤝PoA consensus model: Aligning incentives and encouraging active community participation

💪Innovative chain and base layer: Enabling other dApps to be built on top of Skrumble Network. First dApp- Ally already has 150k+ users with more coming soon

🙋🏻‍♂️Industry-leading advisors: Including Anthony Di Iorio (Co-Founder of Ethereum) and Jeff Pulver (Co-Founder of $3B Vonage), Jin Tu (CTO of Aion), Redouane Elkamhi, PhD (Lead of Fintech & Blockchain at the University of Toronto), Kevin Hsu (Partner, BlockVC)

🥇Trusted and premier exchanges. Won Huobi FastTrack vote last week with over 40 million votes. Counting Gate.io, Huobi Global, Bittrex, LBank, Coinbene etc as our exchange partners

🎖Ranked by ICO Drops for both top 5 global community and ROI in Q22018

🗳Won Huobi FastTrack with 40M+ votes on June 27 19

👑Massive dApp ecosystem coming soon with innovative token economic details

🦁DeFi component / partnership incoming 

Things to consider

Apart from the general risk that is inherent with the crypto space, consider the following when you DYOR on Skrumble Network. 

Competition

Few blockchain/crypto companies have tried to take a stab at the ‘secured communication’ aspect using blockchain. 

We have not yet heard the great success story in this space. 

This is good news and not so at the same time. 

It is good news because Skrumble Network could be THE project that penetrates the ‘success resistance’ in space. 

It is not so good news because the same reasons that lead to the failure of previous projects could plague Skrumble Network. 

Team changes

Exodus of team members from the Skrumble Network is a point of concern for us.  We are going to update this section with the response from the Skrumble Network team (without removing this concern from here). [Update: It seems that several are still involved in a part time basis, and they claim to have streamlined their operation. They are also actively working with the Juggernaut (JGN) team to implement the DeFi rewards system. For more details on JGN please see here: https://jgndefi.com/ 

Token supply

While the market cap is what matters the most in terms of the potential multiples, crypto space seems to be very touchy about the token supply. 

Token supply on Skrumble Network (SKM) is 1.5 Billion and might be looked at as quite high.

All tokens have been released to the market. In this space, the actual token supply amounts are becoming far less important. This was a pretty standard number in 2018 and was advised to the team. 

Team is expected to release more token utility and use cases as per the information alluded to by Eric and depending on the future use cases the market might respond positively. 

Moving to a more stable way of incentivizing operators may innovate the DeFI space beyond pure finance and into other industries as we rediscover how we share and perceive value. 

This is an overview of how we see DeFi becoming a crucial component going forward: https://medium.com/juggernaut-defi/skm-partners-with-jgn-to-develop-first-defi-communication-network-20ba9a3ccf38   

Conclusion

Our first impression is that Skrumble Network looks like a project with a lot of potential.  However, potential means nothing until it is ‘realized’. 

Will Skrumble Network realize its potential?  We do not know and that is the dilemma we have to ‘risk’ when dealing with micro-cap gems.

Thank you for reading and sharing this article. We appreciate you.

Also read:

Chasing the Micro Cap Crypto gems #3 Phantasma is Aiming to do it All!

Chasing the Micro Cap Gems #2: aXpire, a Blockchain Business with a Working Product

Chasing the Micro Cap Gems #1: TRIAS aims to bring Trust in Technology

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

CryptoSpace

Blockchain Among Technologies to Pave Way to Economic Recovery, McKinsey Report

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Bitcoin Digital Recovery

In a recent report titled “The recovery will be digital” McKinsey forecasts that the post-COVID recovery will be a digital one.

The report specifically talks about Industry 4.0, that is, industry enabled by technological innovations will be at the forefront of economic recovery.

“Data, computational power, and connectivity, such as sensors, the Internet of Things, cloud technology, and blockchain,” the report says.

3 Key Blockchain Insights

Of the three key insights into the blockchain future, McKinsey points out that to realize the strategic value of Blockchain, we have to realize that “Blockchain does not have to be a disintermediator to generate value, a fact that encourages permissioned commercial applications.” 

This is a great insight in terms of gaining cooperation from the established businesses to take Blockchain mainstream.  

The other two insights include:

“Blockchain is still three to five years away from feasibility at scale, primarily because of the difficulty of resolving the “coopetition” paradox to establish common standards.” 

And that, “Blockchain’s short-term value will be predominantly in reducing cost before creating transformative business models.”

Blockchain use cases address two major needs

In opining about the use cases of Blockchain, the report lists 6 uses cases which address two major needs.

The 6 use cases alluded to in the report are: 1) Static registry; 2) Identity; 3) Smart contracts; 4) Dynamic registry; 5) Payments infrastructure; 6) Other 

The two major needs that these use cases address are: 

  1. i) Record keeping: Storing static information
  2. ii) Transactions: Registry of tradeable information

Blockchain’s strategic value is ‘cost reduction’

We see that the blockchain’s impact will be different based on the industry.  While the technology can help increase the revenue in some industries, it helps reduce cost in others.

Overall, blockchain holds the potential to reduce costs in many industries as seen in the chart below.                    

Source: McKinsey

As seen in the chart above, blockchain also has the potential to drive social value in industries like Agriculture.

A major shift in the way we work is coming

The report talks about how there will be a lot of jobs that will be replaced by machines, especially those that involve data collection and predictable ‘physical’ tasks.

As we start relying on more and more things on machines, the need for an underlying secured platform becomes imperative.  

Blockchain can address the ‘how do I trust machines’ dilemma by the very nature of its security and immutability layers.

Conclusion

No one knows what the world will look like after the COVID or answers to these questions:  

Will we have jobs that we had before the pandemic started? 

Will there be a V, W, L or K shaped recovery? 

One thing is becoming clearer by the day and that is that the technology will pave the way forward.  

Blockchain could be a direct beneficiary of a world embracing a technological future.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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A Beginner’s Guide on How to Build a Steem Bot

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How to build steem bot

Steemit is the first blockchain-based blogging and social media website that rewards its content creators with the cryptocurrency STEEM when they publish or curate content. 

Top 5 Cryptocurrencies 2020

Bots were first introduced in the Steem ecosystem in 2016, and have since then come a long way. The most common Steem bot development is done for upvoting posts – in simple as well as complex conditions. A Steem bot developer can create an application over blockchain to perform tasks that are simple, but structurally repetitive. There can be certain pre-programmed conditions under which the bot functions and produces results. If too many conditions are levied, it creates complexity and the bot could run for long periods of time until the specific criterion is met and satisfied. 

Steem bot development involves real-time automation over Steem blockchain with the help of simple APIs. The Steem bot developer can simply bootstrap an automated task with Steem without having much understanding about the node’s mechanism and tricky API.

Steem Bot Development – How to Build a Steem Bot

There are plenty of operations that you can simplify by learning how to make a bot for Steemit. In fact, you can even make money with a Steemit bot if you are adept at building one. This tutorial guides you on how to build a Steem bot that can perform the function of auto-voting. 

  • Outline

An auto-voting bot can automatically upvote posts from the selected list of usernames. When new people join your platform, you can upvote their milestone to encourage them with the help of this Steemit bot. 

  • What You Need

A plain text editor

Your private posting key – this is available in your wallet which can be accessed through the permissions tab on steemit.com. The private key feature allows the bot to vote.

Goals

  • specify a list of usernames (your friends)
  • connect to the Steem-js API
  • check when a new post is posted to the Steem network
  • check if the post belongs to any of your friends
  • send a vote to that post

Once that the basics are outlined for you, let us begin with the development:

Step 1: Set Up

For the purpose of this tutorial, we will have the bot run in the web browser (However, a more effective way to use this bot would be on the command-line, but this one is simpler and a good place to start from for a beginner).

Set up a blank HTML file and link it to the steem.js library. The library does most of the work as most of the commands are already present in it, talks to the Steem network, and means that we need to write very little code ourselves.

<html>

<head>

<script src=”https://cdn.steemjs.com/lib/latest/steem.min.js”></script>

<script></script>

</head>

<body></body>

</html>

You can go ahead and save this file as bot-tutorial.html. Although, if you run this file right now, it’ll only show you a blank screen.

Step 2 – Create a list of Friends

This step will enable you to store a list of names to the code. Whether the names should be up-voted or not can be decided later.

const FRIEND_LIST = [‘June’, ‘Zoe’, ‘Karen’, ‘Sarah’]

Once the bot is running, the list of names cannot be changed. So create an expansive list.

Step 3 – Connect to the Steem-js API

Connect to the Steem network and check all new transactions. Each block on the Steem blockchain holds transactions which can be anything – transfers, votes, comments, profile updates, and many more. Once we connect to the Steem network, we’re sent new data from the blockchain every few seconds. 

The API is very consistent and follows the same set of rules.

Whenever you interact with the steem-js library, specify steem.api and then the action that you want taken. In some cases, actions need to provide extra information. This information is called arguments. 

SteemBot constructor after declaration will provide some methods as events, which you can use to trigger different behaviors for different users. The first argument of every event method is always targetUsers and the second one is handler function. If you omit targetUsers the first one will be handlerfunction.

Targetusers could simply be a string with the username of a Steem account, or it could be an array of usernames. Omitting this parameter will require the event to trigger all users.

Step 4 – Check for the Names in Your Friend List

Once you’ve connected to the Steem-JS library, you need to check if the names that you get from the blockchain match those in your list of friends. To do this, create a function. Functions allow us to create blocks of code that we can reuse over and over.

The function can be created like this:

Friend(name){

  return (FRIEND_LIST.indexOf(name) > -1);

}

Out function takes one piece of data ‘name’ and returns us a yes/no or a true/false answer. 

With the help of this code we are taking our FRIEND_LIST and looking for the index (the position) of the name we entered. If the friend name that we ask for is in the list, it will say 1 or 3 (to show the position at which the name is at) for example if not it says -1. checking if the answer is > -1 gives us our true/false for friends. 

Step 5 – Send Votes

Once the above steps are completed and the structure set up, the final step includes coding to send votes. For this, use the following command:

function sendVote(author, permlink){}

We can create another function which is slightly more complex and specific. In this function, the data we need is the author and the permlink. This function will specify the author and the post that you shall vote on.

function sendVote(author, permlink){

steem.broadcast.vote(ACCOUNT_POSTING_KEY, ACCOUNT_NAME, author, permlink, 10000, function(err, result) {

        console.log(result);

   });

}

With this function, you can enable a ‘steem.broadcast’. The data that you need to share includes the posting key, account name, the author, the link and a voting weight. Note the voting weight does not use percentages so 10000 is the same as 100%.

Finally, you can update the function to add the sendVote function instead of just a message. We’re taking the data from the transaction and using it in our send vote function.

That’s it! With the help of this simple tutorial on how to build a steem bot, your friend’s post will automatically get upvoted in your post.

You can use this simple exercise to create simple function and for steem bot development to help you in making your programs a lot more personalised. The bot will automate repetitive tasks of upvoting content each time without the need for your assistance. The bot will automatically start scrolling and fetching more content, then analyze everything and eventually upvote. Then it will refresh and do it again, and again, and again, and again.

Thank you for reading and sharing this article. We appreciate you.

This is a guest post by Vin Boris.

Author Bio:

SteembotVin Boris is a Social Media Marketer and Content Writer at Steem Blockchain Experts , a Blockchain and Steem currency based development, consulting and marketing firm. Vin Boris has been Outshining in the Blockchain Tech. industry for more than 10 years.

 

Stay safe and healthy!

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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FOMO and FUD

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Fomo and FUD

What you can expect to learn?

  • FOMO and FUD Test
  • What is FUD, FOMO and factors causing them
  • Strategies to tackle FOMO and FUD 

Before we begin the article, let’s do something fun. It will take less than a minute. Give a shot at this quick FUD/FOMO test and see how you score.

Fomo Fud Calculator

There are two arch enemies in life in general and trading in particular, and more so specifically in crypto trading life:  Fear of Missing Out (FOMO) and Fear, Uncertainty, Doubt (FUD).

What is FOMO?

When we think that the train is going to leave the station and try to jump on it at any cost, that is parallel to acting out of Fear of Missing Out (FOMO).  

We forget, temporarily, that there are more trains to catch and that the market is here in the long run.

When you fall for the hype and do not follow the facts, like this guy that Jordan Belfort is seen conning in Wolf of Wall Streets.

What is FUD?

When we let negativity and false information drive us out of the market or keep away from good opportunities, we are facing Fear Uncertainty and Doubt (FUD).

A real life example could be, letting some false information blind us completely from reality and lead us to make irrational decisions.

For instance, this gentleman who is reacting to a VR immersion to a totally false reality.

Difference between FOMO and FUD

Crypto trading, for that matter any trading, is a zero sum game.

What that means is, for you to win, someone has to lose.  For you to sell at a profit, someone has to be willing to buy at a higher price.

Is FOMO and FUD bad?

Not all situations of FOMO or FUD bad when they are backed by a process.

For instance, when Chainlink dropped to $1.8 we jumped on the opportunity to buy a few.  At this point, Chainlink was already 600% from its initial listing price a year back.

Because we had done our research and have established our target entry points, buying into an asset that is already 600% high was not a bad decision.

Similarly, when you get disillusioned through research and new information that the project you thought was going to the moon is actually a piece of scrap, it is ok to FUD out.

As long as we keep our rational hats, FOMO and FUD can help us make timely decisions.

What causes FUD and FOMO?

Following blindly

When you choose to simply follow someone’s advice without validating the facts just because someone said it, then you become a victim of FOMO or FUD, depending on what is fed to you.

For instance, take the News channels.  In this day and age, they are mere propaganda promoters.

Many people either are clutched by fear or act carelessly based on what is fed to them.

If these channels say that the market is heading for a crash, people following these sources will take hasty decisions.

When they report something rosy – market responds by going euphoric, irrespective of facts.

This is exactly what we are witnessing today with COVID crippling the economy while the stock market is rallying to new heights each day.

Greed

FOMODuring the 2017 crypto bull run, some people who made millions of dollars couldn’t exit the market because they thought they could time the market.

So they kept playing and lost their gains and in some cases capital to the crash.

Greed generally makes people make irrational decisions that ultimately lead to their own peril. 

Lack of research

Who wants to read a boring 30 page whitepaper when you could let a YouTube influencer give you his opinions?

This convenience has resulted in relying on influencers without understanding the underlying intentions.

Do you know if the influencer has any conflict of interest?

Are you getting an unbiased view of facts or are you just getting biased opinions?

Lack of research is one of the biggest reasons why people are forced into making irrational decisions.

Sensation for facts

In the world that floods us with millions of bytes of information, the one that grabs your attention wins. 

In this race for attention, we have become victims of ‘clickbait’ headlines.

I have read in some forums that people have executed a wrong trade by just reading a clickbait headline only to realize that the actual news was not as rosy or dire.

In the online world of stimulation, sensation sells.

Unfortunately, we cannot make investment decisions based on sensation.

Investment is mostly a boring activity.  It involves reading a lot of dry sources, following through on due diligence, carrying out research, executing decisions and being patient for the right time.

How to tackle FUD & FOMO?

Curiously, the tools to tackle FUD and FOMO are the same, that means, you tackle one and you tackle the other.

Using FOMO and FUD against one another

When you are faced with FOMO, go out and seek negative information on the project that has you in the FOMO grips.  

Create deliberate FUD for yourself.

If you are suffocated by the clutches of FUD, then remind yourself why you were interested in the project in the first place.  

Has anything changed about the project that got you interested in the first place?  

If yes, then you have to simply take the next logical action.  If nothing changed, you can motivate yourself by seeking FOMO angle.

This strategy will help you remain sane while the market goes nuts.

Breath

I am not going all spiritual on you but trust me when I say this helps.

When you are running after or away from something you take short breaths, this is a good indication that you are going to make some hasty decision.

When you are faced with a FUD or FOMO situation: BREATH. 

Consume the information without reacting.  To stay rational, practice conscious breathing and then put your head down to ‘dig for the facts’ before you take the decision.

Research

There are over 6000 projects in the market.  You cannot learn about every project fully.

However, you can learn about a few projects as fully as you can.  This research will help you gain insights that will help you to make the right decisions.

Fundamentals

Technology has changed but us humans have remained the same blob of biology. 

Human nature, gravity, north pole, south pole, have remained unchanged.  

Similarly, the fundamentals of a good project are the same whether you are looking at  a company in the crypto space or traditional space.

Look for these solid fundamentals. If your project has these fundamentals – then the temporary ups and downs should not bother you. 

This will help you sleep better at night.

Beware of confirmation bias

We usually seek out what we want to validate.

Read that again.

We as creatures of habit want to reduce the world to fit our view.  

This is particularly true about our investments.  It is important to consciously seek out contrarian views that of yours.

This will help you gain greater perspective and make all round decisions.

Follow the money

More often than not, mainstream media will be saying one thing and the big money is doing something else entirely.  

Even if the news of FOMO or FUD is true, it is usually an ‘after-the-fact’. 

No one will actually let you in on the secret before they place their bets.  

For instance, someone will talk about how this startup is going to change the world AFTER that company has already gone public.  

This means, the VCs are ready to dump their stocks onto unassuming noobs while they 1000x their seed investment.  

A classic example of this in the crypto space is when JP Morgan publicly condemned Bitcoin and threatened to fire anyone at the firm who buys bitcoin.

Secretly, JP Morgan was buying boat loads of Bitcoin and shortly they even introduced their own cryptocurrency.

In this short video Teeka Tiwari reveals all the hypocrisy of these big players who manipulate the market into FUD and FOMO depending on what benefits their deep pockets.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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