Chinese Billionaire Leaves Cryptocurrency Investing

AlphaAtlas

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One of China's richest cryptocurrency tycoons, Li Xiaolai, announced his exit from the industry on the social media platform Weibo. Li is "one of the largest" Bitcoin holders in the country, and helped found the investment firm Bitfund. The billionaire stirred up some controversy earlier this year after a rant leaked onto the web, which he received considerable backlash for. However, his exit could also be related to the Chinese government's recent crackdown on Bitcoin.

"From this day on, Li Xiaolai personally will not invest in any projects (whether it is blockchain or early stage). So, if you see 'Li Xiaolai' associated with any project (I have been associated with countless projects without my knowledge, 99% is not an exaggeration), just ignore it," Li said in a Weibo post (our translation). He went on: "I plan to spend several years to contemplate on my career change. As for what I’m doing next, I’m not sure just yet."
 
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Lakados

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Digital Coins aren’t as good of an investment as they once were especially with an impending divide. Hardware speeds haven’t kept up, and new coin offerings are lost causes. As more countries and institutions increase pressure on them we will see what sticks around but most are either quitting while their ahead or just cutting their losses.
 
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noko

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Not sure when the big fail will happen, as in 90% or more of the projects fade away. Actually we are sorta in that stage. Many are expecting a big boom shortly, I expect only a few projects will expand.
 

Paladin21

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Hardware speeds can't keep up, it's part of the design. When a new hashing system comes out, the network steps up the difficulty to keep overall productivity the same. People who can't afford to keep up with the treadmill get left behind.

As has been my stance for quite a while: blockchain has some interesting use-cases for accountability and tracking purposes; current crypto offerings are half-baked at best and not a good implementation of this.
 

griff30

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Impending bubble pop and everyone looses their mind when the one with all the fake money cashes out.

The bubble is bursting and those left will suffer the most.
1 Bitcoin will be worth $ 50 in the year 2020
Ethereum might be worth $1

The rest will be worth less than Monopoly money.
 

DPI

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Impending bubble pop and everyone looses their mind when the one with all the fake money cashes out.

The bubble is bursting and those left will suffer the most.
1 Bitcoin will be worth $ 50 in the year 2020
Ethereum might be worth $1

The rest will be worth less than Monopoly money.

Been hearing this every day for nine years from uninformed casual observers.

Cryotocurrency is as much a "bubble" as the internet and TCP/IP.
 

Paladin21

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Been hearing this every day for nine years from uninformed casual observers.

Cryotocurrency is as much a "bubble" as the internet and TCP/IP.

Even for a crypto fan, trying to classify it in the same category as two of the fundamental technologies of modern life and any advanced economy is...a stretch to be polite. You aren't helping your argument to make these sorts of comparisons.
 

TorxT3D

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hes about to fud his way into buying in low, hes not out of the game hes trying to crash bitcoins value with his news so he can buy in at the lows (if it even happens)
 

NickJames

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Been hearing this every day for nine years from uninformed casual observers.

Cryotocurrency is as much a "bubble" as the internet and TCP/IP.

The Dot Com Bubble was a thing, the only difference is that most people were short sighted into realizing the internet was more than just an alternative to retail and it was able to recover quickly. When the Cryptocurrency bubble pops, you guys better figure out a better use for it.
 

ccityinstaller

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Impending bubble pop and everyone looses their mind when the one with all the fake money cashes out.

The bubble is bursting and those left will suffer the most.
1 Bitcoin will be worth $ 50 in the year 2020
Ethereum might be worth $1

The rest will be worth less than Monopoly money.

I am keeping this so that you can't go back and edit this...We will see what happens in 2020 but I made ~5K this week in week over week performance gains in Alt coins:whistle::whistle::whistle::whistle:
 
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