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Blockchain Trilogy - Parts I, 2 & 3 + Easter Egg - By TrendFollower

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First of all I agree with some of the points in the article. I would go as far as suggesting that 90% of ICO's and IEO's are garbage and to stay well clear of them. That does not mean every single one is. It is no different to the AIM Market which houses nano, micro and small caps. 90% of companies listed on AIM is trash. But that does not mean they all are. A good investor / trader will try and identify the quality and stay away from the rubbish. Full stop. 

To support IG, they do not offer the tokens generated from ICO's which are trash (the 90%) on its platform to trade. They are only offering a small selection which are supported by the largest market caps and liquidity. Now that still does not mean they will succeed or are quality. I accept that. 

Let me offer you a different view. Those who put their hard earned money into Litecoin, Bitcoin and Bitcoin Cash are sitting on phenomenal profits. They have beaten every other asset class across the globe. @TheGuru12, have any of the assets you have traded since December 2018 to date beaten Bitcoin, Litecoin or Bitcoin Cash? Don't forget there is something called a 'Stop Loss' to manage your risk and loss of any capital just like trading any other asset.

You should try complaining to IG about offering Cryptocurrencies and request they remove them and see how far you get!

Let me put it another way. Traders should be wary of putting their hard earned money into the wrong side of trades (directional) and end up losing on those trades, regardless of asset. 

Thank you for participating in this discussion and though you are on the opposite side it is fine to have a different view. I think what you need to do is provide evidence, data or information from credible sources that may support your view that all of Crypto is junk. I do not agree all of it is junk but if you genuinely think that then you need to articulate with some detail to demonstrate why. Remember I agree with you in the sense that the majority of the ICO's are useless and will disappear in the coming months and years. 

I trade to make as much profit as possible so I only want to try and identify and trade the strongest trending assets. Can you name me an asset class which is trending stronger that Cryptocurrencies and the coins that IG offers on its platform? If you have a good trading strategy and trading system then you should be able to trade most asset classes and Crypto's are no different. In fact I see a lot of similarities (volatility) with Commodities. 

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Yes but these returns are NOT sustainable. It lures people in to a false sense of security. 

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First of all, no returns are sustainable on any asset. That includes a share or commodity. If you trade based on price action then it really does not matter what the asset is and whether the returns are sustainable or not. You are trading based on the direction of the trend and the price action.

The trends for Bitcoin, Litecoin and Bitcoin Cash have been running for six months now. Therefore they have been sustainable for six months. What time period would you consider sustainable? The downturn in 2018 lasted around a year so there was a shorting opportunity for Bitcoin et al. For me that demonstrated sustainable returns on the 'Short' trade. 

If it lures you into a false sense of security then do not trade them. Full stop. No one is forcing anyone to trade an asset such as a high risk Cryptocurrency if they do not wish to. This asset class is very high risk and those not comfortable with the risk should absolutely stay away.  

There is something called risk management. Every trader should be applying this to their trading strategy. This will help to manage your risk and minimise your losses on any asset you trade whether that be a share, commodity or bond. Cryptocurrency should be no different.

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Here are some more articles that I wish to share demonstrating real life applications of Blockchain by real large and well known companies across the globe. 

IBM, Maersk’s Blockchain Platform TradeLens Is Shipping to Russia


Insurer L&G Uses Amazon Blockchain Service for Pension Deals


The real life use cases for Blockchain take time. It will be the very largest companies around the world who will adopt the technology first as they will have the biggest R&D budgets and employ the brightest people. It will then be filtered downwards to the smaller companies but this will take many years. Patience will be required. 

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