Obviously those that know of my posts here on FGF will find a confused state of mind regarding the token, crypto world... I have had a large holding in FGF and did well, however I let go until Im convinced other wise... So I have created this post for the interest of others that aren't fully sure what FGF is achieving and invested in regarding crypto and alike.. It is fair to say First growth is putting their time and shareholders money into the world of blockchain, tokens and crypto as the main investment to increase MC and alike.
For a worth while read for those not sure of the differences between tokens and crypto click on the link below:
The difference between cryptocurrency coins and tokens
as you will read from the link at the time of this press release there were a total of 888 coins in existence. and this was in June of this year, so how many more continue to list?
There were 591 tokens listed on CoinMarketCap in June, not sure how many more have been added to that list...
This is my main concern, when does it stop? who will police their backing and worth... the volatility here is as witnessed by bitcoin... hitting over $20K to fall back to $6 in a short time... when does real currency do such a fall, the country would need to have been hit by a bomb or some extreme natural disaster.
At least with true curreency it is some what monitored and rated via the countries worth and governed practices to sustain wealth..
My concern with today’s ICOs is that they’re being fueled by the gold rush mentality around cryptocurrencies, and so are deployed in irresponsible ways that are causing harm to individuals and damaging the ecosystem of developers and organizations. We haven’t set up the legal, technical, or normative controls yet, and many people are taking advantage of this.
I do think the world of crypto and tokens is here to stay, but I strongly think it is a cash cow and easily manipulated by the powers that hold control...
Most of these tokens and crypto's arnt even being used as "currency", they are simply a gambling platform trading pips worse than Forex...
so this crazy bubble that is more than likely heading to over 2000 listed tokens and crypto's will eventually hit a brick wall, why?, many aren't backed by true assets, the world has yet to except a large scale of such currency to be used as literally currency (this is happening slowly, but snail pace)....
We live in a world of deceptive powers, where men of power become greedy and find ways to manipulate and gain more power while increasing there wealth at someones expense, usually the naive and gullible.. This world of crypto and tokens seems to be getting set up by random people, random companies, many not even going through back ground checks...
The bubble is increasing at an alarming rate, eventually it will explode IMO...
So now you see my thoughts and concerns. Try to avoid responding with belittling comments that lack integrity and a form of intelligence simply because of ones stock holding or investment, how about show me where I am wrong... what is stopping any of us setting up a ICO... 12 months from now who is to say there aren't another 2000++ crypto's and tokens? .... does this not concern you as an investor?...
