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Anything related to bitcoin, crypto, blockchain


New Contributor
May 28, 2017
It's the strangest thing in the world when you're working with someone and they suddenly disappear. Or they show up late to a meeting.. by FOUR HOURS. I've met a lot of interesting folk over the past couple of weeks, both online and offline, and I have to say it's been one heck of a ride so far. I'm both excited and nervous for what's to come as more and more people keep coming into the crypto world.

You know how people are prone to spend a lot more with their credit cards, just due to simple psychology? They overspend and purchase random crap that's not needed just because they don't feel the pain of the money right then and there. Well, with Bitcoin or any other altcoin it's very similar but even more pronounced. There's people dropping bitcoins into gambling casinos like its nothing! Coming out -10 coin means you've just lost yourself a nice used Mustang, and yet some people treat it like its nothing.

I'll share some examples of the type of people I've met so far. The first one was an "investor", or wanted to be one at least. He had a good budget to work with, knew SOMETHING about cryptocurrency (which is a start!) and seemed very responsive to everything at first. He sent over some capital and we made good money on it, but when I asked when the rest of the capital would be sent over, he just kept delaying and stalling. The communication with this particular investor was horrible and eventually he just stopped caring about updates. I could've lost all the money and he wouldn't know until a month later. Why? He ignored my emails, my messages, even got a little ANNOYED that I was updating him too often. I've NEVER seen that before in my entire career. People getting frustrated over the fact that I'm giving them alerts as to whether or not they made money? I mean, I try to put myself in other people's shoes but.. I don't get that. How can you just NOT care about what happens to your money? I'd be on that DAILY, constantly curious to see what the next moves were.

The next person was one of the TOP sellers in the country, the #1 seller in the area. I wanted to buy BTC for the first time in real life. Just do a small test trade of a couple hundred dollars, see how it goes. I give him a ring and everything seems fine on Friday. I got a place and date for the next day, so I decide to go down into the city to meet up. As arranged, I give him a call an hour before to see what's supposed to happen in a little bit. Nothing. No response. I wait and call again. Then shoot over a text message. Strange..

So I decided to go into the office building and ask around. Nobody knows anything! I arrive at the place where the BTC company head's office should be, but everything is locked. So I go for coffee and wait for SOME kind of an update. I eventually get one through Localbitcoins which is... strange, considering he could've just gave me a call or text. Nope! We meet up a few hours later as the professional had slept in! He even admitted it himself, he could care less whether or not he loses a client as there's always more to work with. When I discussed a potential partnership (sharing my clients), he shaked his head and said he didn't need any more. What? How could you not... want.. well, I guess if you're lazy. If you're comfortably numb with what's currently happening.

After these guys, every other scenario just seemed funny. I've met so many people who took FOREVER to finally come to a conclusion. They eventually bought BTC but just totally didn't mind the fact that the price fluctuated like $400. I mean, hey, more money for me! But the fact that like 50% of my buyers could care less about the fact that they just bought in for MORE money due to the fact that they responded to my messages 12 hours late.. well, that shows either the lack of experience and knowledge in this field for potential investors and/or the lack of motivation. Maybe that's why I'm able to do 15-25% sell rates and people are happy with it. Because others do 30-40% and get away with it UNTIL the buyer realizes that their prices + horrible service definitely screw things up.

The reason some people are able to make an insane amount of money in cryptocurrency is very simple, there is a lot of competition but most of the competition gets too comfortable. The biggest exchanges (Coinbase, Paxful, LocalBitcoins, Poloniex, Kraken, etc.) ALL have their set of problems. They have horrible customer support (tickets are pending for WEEKS, no phone #'s, emails can take a few days or weeks to respond to, angry and unsupportive staff), require multiple layers of verification which can often slow down the process so much so that people would just rather pay 20% extra to get through the hassle, DDOS attacks that constantly either damage the servers or the exchanges are totally unprepared for, old and laggy servers, and a bit of market manipulation here and there certainly doesn't hurt after the chaos that was just listed above, ey? It's funny how even top exchanges like CRYPTSY (was great back when I was using it in 2014) turned out to be a total scam when the top executives just outright stole the money. Mt. Gox was a fun example too.

This is just hilarious:

This is the face of the man who master-minded a multi-million dollar theft from his own exchange:

Most of the people in cryptocurrency, or at least the big cases I've seen so far show that where the money comes, so does the greed. And sometimes people either get blinded by seeing GOLD everywhere they look, or they get so tired of dealing with others that they forget about the difficulties of starting up in the first place. I think cryptocurrency is stabilizing as time passes by (I mean, it's definitely much more mainstream and safer now than it was let's say 4-5 years ago), but it's still got a long ways to go.
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