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Chinese crypto billionaire slams NEO, Tron (TRX), EOS and others

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The cryptocurrency world has woken up today with a bitter taste in the mouth after audio was leaked with some of the strongest declarations about crypto that someone has ever done. The attestation comes from Li Xiaolai, a very reputed figure in the Asian cryptosphere for participating in projects such as the promotion of Qtum, and the creation of Bitfund.online, a bitcoin faucet website that also integrates a game and provides free Bitcoins every 3 minutes.

Xiaolai it is also known for being a crypto investor himself. As per the estimates, he has a net worth of 3.5 billion US dollars, which categorize him as one of the wealthiest persons in the crypto world.

Concerning the declarations, Xiaolai has already raised his voice confirming the integrity of the leaked audio. Nevertheless, when it comes to the content itself, the investor has not said anything yet, a fact that has made a large part of the community, especially from China, feeling confused and concerned.

Tron and Binance a fraud, NEO is worthless and Qtum just garbage

Xiaolai leaked anti-crypto video is in the Chinese language, but if you translate that into English, the asseverations on the audio can are as follows:

  • All of the successful ICO campaigns are basically constructed with the creation of a pool of followers and an aggressive publicity exposition.
  • The primary factor to launch a crypto is to have followers, so if anyone desires to have a crypto on the market, the first thing they need to do is to become a celebrity.
  • Most of the popular tokens and exchanges are just scams.
  • NEO is a worthless project.
  • The two major scammers in the cryptosphere are without a doubt the CEOs of Binance and Tron (TRX). The success behind Binance relies mostly on the absence of other exchanges after the banning activity in September 2017, and Justin Sun (Tron CEO) only creates a hype on his social media by manipulating its followers.
  • Litecoin is a stupid coin that actually doesn’t differentiate that much from Bitcoin, there’s nothing different on the token and that’s something, Charlie Lee, CEO of the token is aware of.
  • Qtum is a valueless coin, after working in the promotion of the token for six months I can assure that the token is nothing but a scam.
  • During a bearish run, it’s impossible to gain money, the best thing to do is to create a hype and build a group of followers, once the market starts to go up you can use your followers to make a profit.

After the declarations of the crypto millionaire, many investors of the community are actually concerned. Even when some of the comments seem to be just hateful and mean, it makes sense that the market is built on foundations of speculation and manipulation, and that is precisely what we can see happening with tokens such as Tron (TRX) or EOS.

Many of the investors actually put their money on a coin without actually understanding why do they do it, so this, in fact, could be a good milestone to put ourselves together and understand better the market before placing our bets on a coin.

Of course, different experts have their very own perceptions even if they are in the same industry, what exactly is the situation in this case. Also, till now we only have leaked audio, Li Xiaolai has not attested that those are his final thoughts about Tron, EOS, Neo, and others. We are going keep a close eye on this story as it develops and will keep updating the information here. Stay tuned.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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