There's Literally A 'Token' Called "Fuck" That's Up 370% In The Last 24 Hours

Tyler Durden's picture

Authored by Simon Black via SovereignMan.com,

I vividly remember having a conversation several years ago with a woman about her real estate investments in the United States.

It must have been around 2005 or 2006… the peak of the property bubble.

She was a psychologist from somewhere in the midwest, telling me about how she was flipping off-plan condominiums in Florida.

Basically she would put money down to secure a condo unit in a building before it broke ground, then sell her contract to someone else at a higher price when the building was closer to completion.

I remember as she told me this story she was practically cackling at how quickly and easily she was doubling and tripling her money, and at one point said, “It is just soooo easy for me.”

Those words stuck.

I remember thinking, “Investing isn’t supposed to be easy. There’s supposed to be risk and hard work involved.”

But she wasn’t alone. Legions of amateur investors were piling into the market doing exactly the same thing.

Everyone seemed to be flipping condos. And everyone seemed to be making money.

It didn’t add up.

I remember one investor explaining to me how he would flip his condo contract to someone else when the building was 30% complete. Then that buyer would flip the contract to another investor when the building was 60% complete. Then another sale when the building was 80% complete, etc.

“But who is the person at the end of the line?” I asked. “Someone has to eventually live in all of these condos and be willing to pay the highest price.”

 

“Oh there will ALWAYS be plenty of people who will live here,” he told me.

To these investors it was a foregone conclusion that required zero analysis: there will always be buyers, no matter how high the price gets.

One of the marks of a good investor is learning from his/her mistakes; when an investment performs poorly, a good investor will try to figure out WHY, and incorporate those lessons into future decisions.

But a GREAT investor will learn from his/her successes.

This is rare. Perhaps it’s part of our human nature. When we succeed, we automatically conclude that we’re really smart.

We seldom examine what really happened. Did we get lucky? Were we riding the wave of a giant bubble? Or, perhaps our analysis was spot-on and we nailed it.

It’s hard to say for sure without some serious self-reflection.

But again, it’s in our nature to presume that we’re brilliant.

And that may be one of the most dangerous things of all… because our infatuation with our own brilliance causes us to do irrational things.

Instead of thinking, “Whew, I got really lucky, I’d better take some money off the table before this market crashes,” we think, “I’m so smart… now I’m going to double down and make even more money.”

It’s like gamblers at the craps table– people delude themselves into believing that they’re on a ‘hot streak’ and ‘can’t lose’, so they keep increasing their bets instead of cashing in their chips.

Eventually the luck runs out… and the money vanishes quickly.

I’m telling you all of this because I see the same thing right now in the “ICO” market.

If you haven’t heard of ICOs, it stands for Initial Coin Offering. It’s a combination of venture capital and cryptofinance.

Traditionally, startup companies have raised the money they’ve needed from angel investors and VC funds.

These days, companies are raising money by selling digital ‘tokens’ to investors, most of whom typically pay in Bitcoin, Ether, or some other cryptocurrency.

Tokens often represent shares in the startup company, just in the same way that Apple stock represents shares in Apple.

And, just like shares of Apple, investors can buy and sell their tokens in the market.

There are countless startup companies now issuing tokens. And, just like the price of the cryptocurrencies themselves, many ICOs have soared in price.

There’s a token issued by Stratis, for example, that is up 101,168% since its ICO last summer. The NXT token is up 672,989%.

Those are not type-o’s.

There’s another token that’s actually called “Fuck” which is up 370% in the last 24 hours.

The returns are absurd… especially considering the assets are priced in Ether or Bitcoin, which have also soared to all-time highs.

So on top of a 1,000% return in Bitcoin, ICO investors have also made a 100,000% return in the token.

But I’m hearing exactly the same cackling that I heard from the real estate bubble days more than a decade ago.

– It’s soooo easy to make money in ICOs.
– It’s a foregone conclusion that the tokens will go up in value.

Sorry, but it just doesn’t compute.

If the tokens represent ownership in a business, then the only thing that matters is whether or not the underlying business performs well.

Does the company have a compelling long-term strategic plan?

More importantly– are the managers successfully implementing the plan and achieving milestones?

Is the company on a path to financial sustainability?

Nobody seems to be paying attention to these details. They just buy tokens with the expectation that the price will rise.

And even if a business performs well, it’s ridiculous to think hat a startup company can be worth 100,000% more in a year. Or nearly 700,000% more in a couple of years.

To put these numbers in context, Peter Thiel invested $500,000 in Facebook back in 2004 as the company’s first big investor. In 2012 he sold most of it for $1 billion.

That’s a return of 200,000% in eight years… pretty tame by ICO standards.

Investing isn’t supposed to be easy, especially when speculating in startup companies. There’s supposed to be risk. Serious analysis. And lots of losers.

It’s not to say that there aren’t any good businesses issuing tokens. But it’s pretty clear this trend is a massive bubble.

 

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ET's picture

Physical Gold and Silver will protect your wealth for generations.

Cryptos are becoming a punchline. Penny stocks to be pumped and dumped.

dark pools of soros's picture

the punchline is gold still never hit $2000

Honey-Badger's picture

And it never will as long as the price is determined by a paper certificate market with a 200:1 to physical ratio in which bankers can sell as much naked certs into as they please to supress the price.

bwh1214's picture

There is some silly stuff going on that's for sure, but the space is for real.

Still no word back from the bitcoin bashing Chris Duane after he challenged the crypto community. Here was my video rebuttal for anyone that is interested in why crypto is an important PART of a crisis portfolio.

http://www.themonetaryreset.com/2017/08/duane-challenge-accepted-and-wag...

tmosley's picture

I thought I would check to see where this coin stood on coinmarketcap. Number 281, right behing Max Keiser's shitcoin.

But at least it is getting Tyler some clicks.

BaBaBouy's picture

This Coinz mania just shows how BAD the Paper Fiats Are ...

GOLD's gonna X-plode when they lose control...

There is nothing like a real GOLD rush.

Post-Truth Society's picture

"Fuck" token sounds like what Anti-Christ Trump is using to fund his "pedo-operation" in the basement of Trump tower.  Just ask Ivanka the jewess ring-leader.

Why won't Timid Tylers report this?  Too busy counting their shekels?

tmosley's picture

The Tylers don't have the inside track to your delusions, I'm afraid.

sincerely_yours's picture

One thing's for sure: no media and no politician are to be FULLY trusted.

Otherwise, one is DREAMING. http://wp.me/p4OZ4v-3nJ

Bastiat's picture

How about we get around to Trump after we finish with Pizzagate, the Clinton Foundation/Global Initiative quid pro quo corruption, the Clinton national secrets violations, the Awan Brothers, voter fraud, and Comey's coverup activities?

Mycroft Holmes IV's picture

Is that why more pedophile arrests have happened this year than during all of Obama's administration, bringing down major pedo rings in major cities, including LA? He's just snuffing out the competition?

No news coverage, except KTLA will cover it. 70+ women and children rescued from LA mansion dungeon (google it).

Typical leftist troll - accuse your enemy of the crimes you are committing.

Go back to jacking off to your Rules for Radicals.

swmnguy's picture

You must be talking about "Operation Reclaim & Rebuild."  It's an annual investigation, since 2014 at least.  This year, the arrests (474 of them!) happened in January.  So, all the investigation and warants occurred under the Obama Administration.  

I tried to Google your sentence about the 70+ women and children rescued from LA mansion dungeon and found nothing.

There was plenty of coverage of the January arrests; not just KTLA.  LA Times, NY Daily News, TV stations across California, etc.  Not a news blackout by any means.

And it wasn't all about pedophilia.  Many of the arrests involved regular ol' prostitution.

Hey, it sounds like a good thing and a lot of people were helped out of awful situations.  But it's not like you're making it sound.  

You must read a lot of Liz Crokin's spin.  She said a lot about how a wave of sex-trafficking arrests early this year were all due to President Trump, as if somehow massive investigations come about in a couple weeks' time.  Sometimes the people we disagree with politically aren't really all pedophiles, or Communists, or witches.

Mycroft Holmes IV's picture

I'm having trouble finding the dungeon story - I did find what you are referring to.

Since the start of this year, over 3,000 pedos have been busted: http://www.anonews.co/seal-arrested-pedos/

Another busy alone got 900 (not sure if number is included in stats above): http://www.collective-evolution.com/2017/05/09/another-giant-pedophile-r...

And another: http://www.neonnettle.com/news/2299-238-arrested-in-major-hollywood-pedo...

Here are the stats from prior years: https://steemit.com/crime/@stevescoins/increased-rates-of-pedophile-arre...

The year isn't out yet. The US is also invoked globally: http://www.dw.com/en/europol-fbi-arrest-nearly-900-in-crackdown-on-globa...

I don't know or follow the woman you speak of. I have found, in general, that leftists are more hateful, perverse, and intolerant of other's opinions than libertarians. Globalists and neocons don't care about anyone.

Fizzy Head's picture

Voted up because I see what you did there... LoL

PT's picture

Finally found someone who gives a Fuck.

radio man's picture

The silver-gold ratio at 75 is twisted enough.

Sanity Bear's picture

It is nice to know that you can actually give one though. But sometimes I only give a shit.

PT's picture

"I don't give a shit but if I did, you would be the first person I'd give it to." - apprentice to PT.  Yes, it was just for laughs.  He was a good bloke.

SILVERGEDDON's picture

Fuck Coin at least sounds like it is worth something. 

Tmosley Coin wouldn't be worth the value of a flaming paper bag full of dogshit on the neighbors porch.

Unless you rang the door bell.

Then, entertainment value only.  

tmosley's picture

What's it like to be destitute with no future because of your refusal to reevaluate your life choices?

I forgot.

Fizzy Head's picture

It is not a coin..its not money either..more like math on a sand stick.

tmosley's picture

And yet you continue to subject yourself to it, and yell at anyone who dares to question your actions.

Are you a masochist?

83_vf_1100_c's picture

tmosely, anagram for mostly (a dick)? Yeah, I know I ignored the e.

tmosley's picture

When I come up with a trainwreck of a joke like that, I refrain from hitting the save button.

Fizzy Head's picture

Finally Found something I can agree with you on.????

tmosley's picture

Excellent. No excuses for bad humor. The old folks used to cut that shit out physically.

NoDecaf's picture

Are you taking any profits on this crypto hockey stick, or are we going to hear about you jumping off a highway overpass when this mania corrects?

tmosley's picture

"Take profits"?

Did Weimar Germans that held gold backed dollars "take profits"?

Fuck off with that shit.

It might crash (little bit too popular now for that, TBH, unless it gets way out ahead of the trend, say $15K or so), but history has shown it comes back. I don't put in anything I can;t live without for a few years.

Eager Beaver's picture

According to Doug Casey, that's all just a conspiracy theory, and there's no evidence of any manipulation or wrong doing in the gold market, even though GATA has personally put evidence in his little (((hands))).

https://www.youtube.com/watch?v=pXSBIDx_EV4

Anyone else notice that the controlled opposition always mixes 75% truth with 25% psyop?

https://www.youtube.com/watch?v=fUTYufnvzyM

Madison's_Ghost's picture

The real punchline is that people who invested in crypto are stacking gold 10 oz at a time while the naysares scrimp to get a 1/4 oz.

Heavy McNuggets's picture

The only reason I bought cryptos is so that it can grow and I take gains to purchase physical gold.

Lumberjack's picture

Nope. Hillary is behind this one....

tmosley's picture

>Up a bajillion %

>On less than $50K in volume.

Wow, it's fucking nothing.

The Cooler King's picture

mosley! ~ it's time for you to shapeshift!

 

It's the only way you'll be 'gettin any' FUCK tonight unless your girlfriend gets turned on by a SUBWAY sandwich.

tmosley's picture

Shapeshift doesn't deal in no-volume shitcoins.

The Cooler King's picture

I guess you lucked out this time then

38BWD22's picture

 

 

Just bought some Au from JMBullion, paid by BTC (at $4705).

All the BTC I have left are pure profit.


TCK, I was very lucky.  Probably will HODL the rest of my BTC unless it gets to, I dunno $7000?

tmosley's picture

See you in a few weeks, then!

38BWD22's picture

 

Maybe...

I sold BTC at $2200 and $2600 for Pt and Au (respectively) back in May.  My timing was not the best, but I truly did luck out.  I am OK if BTC gets to $7000 (or more) quickly.

It's unlikely I will ever sell all of my BTC...  Very unlikely.  I'll keep a few shekels...

 

EDIT:

tmos, do you code?  If so, have you (or anyone you know) reviewed BTC's source code at github?  I can't program, so that is a bridge too far for me to KNOW.

tmosley's picture

I do not, but I understand that the code has been almost completely rewritten since it was first published, so not much opportunity for backdoors. LOTS of eyes, including very HOSTILE eyes are on that code looking for weakness, and as yet they have not found any.

Post-Truth Society's picture

I'm sure if anyone found a weakness, they would be sure to tell YOU about it.

You are probably a filthy Muslim just like your boy Trump, Ivanka, Kushner. We will defeat you all in the final battle.

tmosley's picture

Are you retarded?

If they found a weakness, they would EXPLOIT IT and become multi-multi millionaires OVERNIGHT.

The Cooler King's picture

Kushner didn't need bitcoin to get Ivanka to suck his dick... Not that that makes him a hero or anything, by your standards.

 

Who knows, a couple more Fridays and maybe you can get Ivanka to suck your dick...

Mr. Universe's picture

Ivanka is more plastic than my love-bot wife Lenore...wait a minute. That's hot.

valjoux7750's picture

Wow, really? LMAO  I thought I'd seen the worst comment of the day till yours. Don't freak out man, stay calm.

The Cooler King's picture

I guess they're waiting for that 'BOUNTY PAYMENT' right?

valjoux7750's picture

I'm sitting on my tezos, futures already up to 4 times ico.