My dear Nemsters,
What we are witnessing today is a lame hostile take-over with no long-term success whatsoever.
Let me make it a bit more clear for you:
Chinese government: “Let’s spread FUD (fear, uncertainty, desperation) so we can buy Bitcoin at a sale price !”
Do you honestly think that China wants to ban Bitcoin? Most of Bitcoin’s mining power is in China! No, China doesn’t want to ban Bitcoin, it wants to own it, and cheap! That’s what all the fuss is all about.
Regulations…potatoe…potata… :slight_smile: Really? China didn’t even give a crap about regulations until the whole crypto market cap went off the roof. It’s mass manipulation feeding off the weak hands and traders who are in the game to profit on the short-term, meaning they buy today, and sell tomorrow for 20% or more. Obviously, at the opposite pole there are investors who are there for the long-run, who see the bigger picture and who in my honest opinion, will make a lot more money than doing daily-trading provided they invest into the winning horse.
JP Morgan’s Jamie Dimon & Charlie Lee (Litecoin founder): If I had those two in the same room with me, I would peel the floor with their teeth just for having the gut to make such outrageous claims. They knew very well that they have a lot of influence over investors in altcoins because of their social status and followers. What was the point? Their announcements came right after China’s ICOs ban!. They fueled the FUD, that’s what they did. Why? Because as China, they want to buy altcoins at a cheap price. Nobody can check them if they bought, right? That’s the whole point of cryptocurrency, therefore, they can score a couple of millions without nobody knowing it. Of course they know the market will go up again. Bitcoin and the rest of the major altcoins WILL NEVER fall due to rumors…due to gossip. Come’on, let’s be realistic here. This is a lame attempt to sink the prices to buy at sale, there’s nothing more than that. All we have to do is to keep NEM or other altcoins in our pocket and let the wave fade, because make no mistake, it will…and soon!
Ok, so it’s a dip based on gossip…now what? Since I entered heavly into the cryptocurrency world, I followed a couple of rules, and I want to share them with you:
Never invest in the market trend, invest in true value and most important, KNOW YOUR INVESTMENT!
Investing in crypto coins you have no clue of, just because the price is rising fast in that specific moment, is like buying a warehouse full of random old stuff. It might pay off, but most of the times, it doesn’t ! Know your investment ! INFORMATION IS POWER!Don’t be greedy! There is a time to place seeds and a time to harvest!
It’s fairly easy to just jump into the boat of trading and buy this, sell that, buy again…sell again…just to realize that at the end of the month, you made 50% profit. And that’s profit gained in a month of sweat, sleepless nights and most likely, losses and winnings in swings. Now, I’m not saying that enjoying a bit of thrill isn’t good to remind us all why life is worth living but daily trading can get you into the hospital. Imagine the swings, the unexpected outcomes below the expected value (EV) on the short-run, this can make you age in dog-years!.
Isn’t it better to just invest in a couple of coins you really studied about in terms of technology, team behind, road-map and draw a conclusion in which you decide to invest or not? What’s the point of investing into something if your only metric is the price trend? It’s like running for the bus that takes-off the station hoping to catch it and sometimes, the buss goes backwards. There is no logic to that. Invest smart, invest on the long-run, look at Bitcoin and other altcoins, how much ROI (return of investment) they provided in 1 year, not to mention more years. Be patient, and most of all, be selective with your investments.
Don’t play the lottery, play the game, and play it smart!
My advice: buy the coins you TRULY believe in, and forget about them for at least 1 year. You’ll see :slight_smile:
So, what about NEM?
NEM has been around a long time now, and it’s not going anywhere!**
First of all, with all the China fuss, NEM technically, should not be affected because:
NEM was not bourn in China, it has roots in Japan and Malaysia, being heavely backed-up by both governments. And most important, it’s fully compliant with regulations! Lon Wong made sure of that :slight_smile:
NEM was not an ICO, coins were air-droped!
NEM has a couple of years behind since its launch, it started out small, now it’s huge and about to get bigger.
NEM has proven its utility as the best blockchain technology in terms of security (surpassed Ripple), growth factor/year (surpassed Bitcoin), speed of transactions (surpassed most crypto coins including Bitcoin) and legislation (it’s a fully compliant company with a lot of projects on roll).
NEM is about to skyrocket due to: Catapult (a re-write of Java Software into C++), NEM Exchange (dedicated exchange in Australia), Trezor (hardware wallet for NEM), COMSA (exchange platform to change anything into everyhing having XEM coin as transaction fee currency, and also serves as a platform for LEGAL ICOs launch), and last, but not the least…
NEM will have its own debit card. Now, Uquid already made available a NEM debit card, but NEM will issue its own soon.
XEM being used as FIAT CURRENCY !
The quote goes like this from the lastest interview with Lon Wong:
"he has filed a patent on the utilization of the blockchain as a representation of fiat money. "
Full article here: http://www.crypto-economy.net/interview-with-lon-wong-president-and-founder-of-nem-foundation/?lang=en1
Needless to say, do you even imagine what’s coming for NEM?
My advice is this: Stop chickening-out, put-on your big-boy pants, and stick to NEM!
Due to this bloodbath of altcoins fueled by rumors, 80% of the ICOs will die, leaving investors with no other choice but to invest into the serious players, like Bitcoin, Ethereum, Ripple…etc…and NEM!
At the end of the day, the only digital coins that will survive to any FUD are the ones that truly deliver. NEM is one of them by far. When ICOs will go down, where do you think the money will go? Into the technologies that deliver.
Needless to say, this bloodbath might make most of you feel uncomfortable with NEM price going down but you need to understand that it’s actually good for NEM. A cleanse that wipes-out hundreds of ICOs where money that should go to NEM, go there, is a blessing for us. We might take a bullet right now, but when the waves calm, investors will actually seek the remaining players, the big boys, the value.
At the end of the day, the principle of investing in digital currency is investing in innovation and technology, not in speculation.
Keep your NEM and more than that, buy more while it’s a sale price! You’ll not get this chance again in the future.
Kudos!