I hereby retract my Envion recommendation!
FML
As if I'm not tired enough of seeing red day after red day, Envion has solidly screwed its investors. This report hit the web a few hours ago: https://medium.com/@TradoGmbH/envion-founders-sue-for-worlds-first-analogue-ico-hacking-4fa42a636104
Well, not actually Envion the company, but rather its parent. Read on.
Just as they were starting to come right:
Having just emerged from a "never give the investors updates" period of declining token price, Envion finally looked to be on the road to recovery. Not any more. News that Envion AG are suing Quadrat Capital - the company headed by the Envion CEO Matthias Woestmann (he runs both), has sent the price of Envion plummeting.
This leaves the future of Envion and its mining operation a little uncertain. The dip was caught and the price has stabilised (far lower than it was), but this comes as little consolation to those of us who have been patiently holding this token, without any really good news, for an unacceptably long time already.
What now?
I still believe the company Envion AG to be 100% legitimate. I think they will try their best to achieve the original vision. However, legal battles and perhaps funding too (I'm unclear on this) may delay things for a while to come.
This is either a great opportunity to pick up a mining coin at a fantastic price, or it's the last opportunity to get out at a semi-decent price.
As an holder with hands of titanium, I will not be selling mine. I'll be doing what I do best: ducking down while the storm rages and holding long-term. For the record; I had a nice cheap buy order in, it triggered a few hours back, only it doesn't look so cheap any more! 😅 I've put a lot of money into this coin and I've bought it many times. Hell, I may even be dumb enough to buy it again later, but I do not recommend buying it any longer. The risk is unacceptably high.
Who is to blame for my loss?
I am.
It's 100% my fault.
I did nothing wrong, I researched the living f... out of that coin and everything to do with it. I did my homework, your homework, my neighbours' homework and then some. But sometimes, despite all that, things like this still happen. That is the nature of crypto and it's one of the major reasons I always say diversify your portfolio, diversify it a lot!
I can handle the loss of my EVN, even if it goes to 0, because even though I was relatively heavily invested in it, I still have many other coins that are doing fine. I'll take a loss, but I'll recover. I knew the risks when I bought, so I have nobody to blame but myself. Clearly I'm not American! 😝
That's all for now.
As always: DYOR! - (now you know why I say that so often and why my disclaimer says what it does.)
Yours in crypto,
Bit Brain
DISCLAIMER:
I am neither a financial advisor nor a professional trader/investor. This is not financial advice, investment advice or trading advice. Unless otherwise stated, all my posts are my opinion and nothing more. Crypto is highly volatile and you can easily lose everything in crypto. You invest at your own risk! Information I post may be erroneous or construed as being misleading. I will not be held responsible for anything which is incorrect, missing, out-of-date or fabricated. Any information you use is done so at your own risk. Always Do Your Own Research (DYOR) and realise that you and you alone are responsible for your crypto portfolio and whatever happens to it.
I have to say, you do some fine research and you're always honest 8-)
You should have a look at that investors club thing if you're not a member already, this is exactly the kind of thing they look for and it seems to pay out well.
Thanks. I'm not familiar with any investors club. Is it Steemit based?
Yeah, link below. I'm not a member, but I follow them and comment on their members posts occasionally. It costs a 1SBD to join or something, but the post payouts and resteems etc seem quite lucrative.
Most of the content is the same as yours, not as good in most cases either so you'd be popular. It would be a great boost to your blog traffic / money.
I know I'm shilling it a lot, but I literally get nothing from it, just sharing the love
https://steemit.com/money/@investorsclub/welcome-to-the-investors-club-week-1-highlights
Many thanks, I appreciate it.
No worries, the only reason I don't join is because I don't post my trades for, ahem, 'tax purposes' ;-)
Just maintain your anonymity and you should have no worries.
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STOPUnrelated question, but in the absence of even a basic PM system I have to ask here, what do you think of mining companies ?
Every single video I watch on YouTube now I keep seeing ads for mining companies, one in particular constantly, "Ice Rock Mining".
What's the deal with those ? Obvs I'm not in the least bit interested but I wondered what your views were. Maybe a good topic for a new article ?
I covered them to a degree in my "Cryptocurrency Spotlight - Envion", Ice Rock Mining got a mention. I also happened to see a new one advertised on CMC today: HashCoin. The problem with mining coins (and also with cloud mining) is that there is an extremely high chance of fraud. There have been many mining pyramid schemes. Often it's hard to tell at first, which are legit and which are scams.
I would advise the inexperienced investor to stay well away from these, only hardened sceptics should consider mining coins, and even then the risk is still higher than normal.
For the record I'm not a fan of Ice Rock, I don't trust them.
Cheers, I just wondered because I get spammed constantly with their stupid videos on YT, either them or some other shady outfit
It must be all your dodgy search term metadata stored in the Google servers! 😅
Its probably because I search for 'mining' as in precious resources mining, not made up icky dicky dollar mining :-)
Hold those icky dicky dollars for 10 years and we'll see which form of mining makes better returns. Many of your non icky dicky mines already run at a considerable loss.
Those real mines will still be there in10 years time, making resources that are used in the real world that actually serve a purpose, not become a forgotten footnote on deadcoins.com
You sure about that?
All these from within the last year:
Silver: https://www.moneymetals.com/news/2017/08/07/primary-silver-production-plummets-001131
Gold: https://www.fin24.com/Companies/Mining/sa-gold-mines-are-on-the-brink-of-death-20170630
Coal: http://money.cnn.com/2018/01/10/news/companies/coal-mine-closing/index.html
Platinum: https://www.businesslive.co.za/bd/companies/mining/2018-03-05-closures-of-platinum-mines-gain-momentum-amid-underinvestment/