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Chinese crypto billionaire slams NEO, Tron (TRX), EOS and others - Global Coin Report
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Chinese crypto billionaire slams NEO, Tron (TRX), EOS and others

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NEO Tron EOS
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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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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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Crypto Market is Not Free from the Bearish Trend Yet

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bearish
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Investors and traders are still speculating over the bullish trend that shook the market this past seven days. However, amidst the joy of the price hike in the industry, some people are still cautious. A crypto trader with the twitter handle of BTC_Macro is advising other players in his tweet to be careful. According to him, the bearish cryptocurrency market is not over yet.

In the tweet, the user admonished players in the market not to listen to the people saying that the bears have given up. It went further to say that Bitcoin may still plunge uncontrollably anytime even if it breaks the $6K mark. When this occurs the twitter user continues, any scenario may occur. The advice is that players in the crypto market should be on the neutral side. According to the user, it is not safe to be on the bullish side or the bearish side. Instead, players should be on their toes without bias.

How Trader reacts to price movements

Over time, it has become evident that many traders usually go against the market majority during bearish or bullish trends. Well, there is usually some logic backing up the reactions.

It is true that we have seen the longest bearish trend in the history of cryptocurrencies. Everybody who has a stake in the crypto market is expecting the day of the bull’s rise…

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Altcoins

The Interoperability Problem of Blockchain May Soon Be Over

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Kardiachain
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Crypto traders have certainly had a rough time since early 2018. The markets have tanked resulting in large losses for nearly everyone involved in the market. While that’s bad, what’s even worse is the fact that many projects have failed to deliver on their roadmap. Blockchain technology has been hailed as the next great advance in technology. And while many companies are making strides toward fully implementing blockchain-based technology, there is still a long way to go. As promising as blockchain technology is, there are still limitations that need to be addressed.

Limitations of Blockchain Networks

Although blockchain technology is certainly the future, the existing technology will need to be improved before it can go mainstream.  A few of the current limitations include:

  • Limited Scalability – Blockchain networks have consensus mechanisms that require each node to verify a transaction. This verification requirement slows down the network and limits the total number of transactions that can be processed.
  • Limited Usage – Each blockchain network was created with specific usage in mind. Because of the limited number of use-cases, each network eventually suffers from a never-ending loop of limited adoption. In the end, this causes low awareness.
  • Lack of Interoperability – At present, individual blockchain ecosystems are unable to communicate with each other. If a blockchain network attempts to retrieve information from an external (outside the “chain”) source, each node would have to…
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