RE: BITCOIN (BTC) Update: A reason or an event shall arrive to justify the forecast: China!
I will tell you why those coins are holding on. I have been saying this for a while now, and I'm in the middle of a huge write up on LAToken again because I truly think there's a reason a coin like THC and Cannabis Coin and Paragon soon will hold their own (not completely) in the face of these times. There are many types of coins, but most of them are completely useless. This does not take away from their value that we have assigned to them, but they have no use besides trading or some strange way someone tried to work the token offering into their business just to raise capital with no responsibility to the investor. If you read the website for Useless Ethereum Token, you will see that most coins, although profitable to traders, are utterly and completely useless outside of that. The marijuana trade has a need, and that need is to keep cash holdings at a minimum, as they hold more than banks on most days....very risky. These coins actually provide a real world use, along with the market value.
When something has real use, it doesn't sway with the winds of change, it is only solidified and made better. Purchasing those token is much, much more like actually buying a product (in this case they are used to buy marijuana), so essentially, as long as people have this cash on hand issue, and people smoke weed, the coins value will not be determined by pairing with bitcoin. Rather, it will be determined by the dollar (US in this example) because that industry has basically set prices that have been established over a long period of time against the dollar, so those coins represent the dollar pairing rather than the bitcoin pairing....even if they can only be traded in bitcoin. This will also be the case of LAToken. REAL assets that back up your token purchase. Not an idea for a future phone service, ad firm, or just like Useless Ethereum Token, an idea for nothing at all. That guy told everyone EXACTLY what the purpose of that token was, and it was nothing. He claims to be the only honest ICO ever (kinda funny), and told people DO NOT buy this, it is worthless and useless. I believe his crowdsale made close to 200k - https://uetoken.com/
@scarlet7 DO NOT buy this, it is worthless and useless! and they still went into this! Unbelievable!
Thanks for the reply, yeah I was thinking... what the hell are these coin's used for and came to the conclusion that it's a kind of Pump and Dump.
I'll be honest, I'm sure a few of us wouldn't mind taking a bit of profit on one of these! :)
I know I wouldn't, but the problem is while they are paired with btc, you're still losing. I had a coin I was flipping for 10-20% profit two nights ago, by the end of the bitcoin drop, I hadn't made a dime, almost dead even. But if you get those tokens and can take them out and get some weed at a dispensary, the more the better, and who cares if it trades back to bitcoin lower.