If you can keep your head whilst all around you are losing theirs…
Rudyard Kipling wrote the poem “IF…” in 1895. It was inspired by a military mentor, and dedicated to Kipling’s son. The stoic advice for bold conduct and keeping a “stiff upper lip” in British society aside, the poem has been adopted by warriors, sporting teams, academics and also been heralded as “the essence of the Gita” by an Indian writer.
How does this apply to modern crypto markets?
We could be cheeky and say, “If you can keep your money whilst all around you are losing theirs… you are doing exceptionally well in crypto” and it would not be far from the truth.
In 2017, up to 50% of new ICO’s were declared to be “scams” by many media reports. This startling figure has been since upgraded by new reports out of the USA.
The New York-based Satis Group, a premier ICO advisory company which also works as a digital asset focused investment bank, conducted a study based on publicly available sources. They claim that “up to 80% of new ICO’s are scams”, with figures even going as high as 92%.
The Satis study results reveal that of the whole market, a whopping 81% of the ICOs turned out to be scams. Another 6% fell into the “Failed” category, and 5% had “Gone Dead”, taking the total for “Failure to List” group to 92 percent.
Obviously, there were many scammers in the crypto space, who took advantage of ICO-hype to “create their own bank” out of thin air and promises, and then rob investors blind. Many of these scammers were relatively easy to spot; if you knew what you were looking for.
Using the proprietary “C.O.I.N.” system, the ETF-like #BostonCoin has so far avoided all of the scams; an achievement which is the financial equivalent to tap-dancing successfully through a minefield.
Out of around 40 coins held by BostonCoin, we see that only nine are in the red this month, with negatives ranging from 1% down, to a maximum of 12% down for April. Considering that many investors faced a 90% chance of losing everything, the doggedly-determined team are feeling very good.
On the plus side, BostonCoin pricing is stable and secure, and the flagship portfolio holds several coins with huge 30-day April returns, such as:
There is a lot of Fear, Uncertainty and Doubt (FUD) in the crypto markets, and many scams persist in this unregulated industry. It is wise to Do Your Own Research (DYOR), ignore what random commentators are saying, invest into asset-backed coins (“stablecoins”) and use the “C.O.I.N.” profiling system wisely. See you on the beaches, cryllionaires 🙂