Crypto Carnage Continues

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Unrelated to this post, I want to mention again that Slope’s sudden popularity is crushing our servers; the whole team (as well as some outside consultants) are hard at work at getting us past this Slow Slope Situation.

I see that cryptocurrencies, perhaps the greatest scam in a generation, is continuing to plummet toward worthless. Here’s the “blue chip” bitcoin, featuring the image of the self-described Crypto Genius (remember all his ads a year ago?)

altuch

Of course, it isn’t just Bitcoin. The #2 crypto out there, Ethereum, has losses approaching 90%.

slopechart ETH

What’s sad is how many people bought into this “opportunity”. Altucher had put together a company called Bitzumi (do a Google search) which was ostensibly valued at $280 million. It’s been nothing but a blank page every time I’ve checked. But on the Facebook page for Bitzumi, there are all kinds of small investors breathlessly excited about this “macro opportunity” early in 2018. Pathetic.

bitzumi