Tuesday, July 11, 2017

Secret trader turned $55 million into $283 million with crypto currency trading in one month

Bloomberg:

An unknown cryptocurrency trader turned $55 million of paper wealth into $283 million in just over a month.

The only clue about this person or persons, beyond a virtual wallet with the identification code 0x00A651D43B6e209F5Ada45A35F92EFC0De3A5184, surfaced on a June 11 Instagram posting, in Bahasa, in which he or she (or they) (or somebody posing as them) boasted about the 413 percent profit accumulated earlier this year from ether, the digital money of the Ethereum blockchain.

(snip)

Cryptocurrencies could become a $5 trillion industry, but they need to develop sound business principles to satisfy regulators and lend legitimacy, Novogratz said June 27 at a fintech conference in New York.

When I see articles like this I wonder if the crypto currency's are in a bubble. I sold my bitcoin a couple of months ago. I have subsequently began mining Bitcoin via Hashflare. I feel like I need to have a foot in the market for Bitcoin regardless whether it is in a bubble or not.

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