This week’s ‘You Might Have Missed’ covers IEOs gone wrong, a misty-eyed look back to the promise of 2017, and the week’s best memes. We haven’t even got the time to go into the crypto security company who advised users to get their funds off MyEtherWallet even though it doesn’t hold any, or Craig Wright promising to sue anyone who defamed him and its obvious repercussions. Too much nonsense, so little time. On we go then…
Failure to Launch
Twitter took aim at the shambles that was the Bittrex IEO for RAID last week (or is it XRD? Who knows). The token sale was pulled with mere hours to go after it was revealed that RAID/XRD had tried to pull a fast one by claiming they had a partnership that they didn’t have (plus a particularly dodgy social media presence), leading to some questioning if Bittrex had done any research or just jumped into bed with the first token sale that batted their eyelids at it.
KuCoin’s Failed Dream
It’s always fun (in a sick and twisted kind of way) to look back on blog posts and tweets written at the peak of the bull run in 2017 and see how badly their predictions played out. One posted on December 23 regarding KuCoin and entitled ‘How Kucoin could make you retire in 2 years’ is a particular beauty. In it, the writer discusses the rise of KuCoin and the KCS token, which gives you a share of the trading volume in all the other coins on the platform. In it he makes a bold prediction:
‘Expect’. Oh yes, ‘expect’. We all ‘expected’, didn’t we? And what happened? KuCoin’s volume, like all the other exchanges, dropped off the face of the earth. We’re closing in on summer 2019 and KuCoin’s 24hr volume sits at around $19 million, some 52x less than you’d need for your $100 per day. But the good news in the post doesn’t stop there:
Now to be fair the KCS token has been on a bit of a tear in the last two weeks, but it’s safe to assume we’re still some way off this target. Let’s check. On December 23, 2017, one KCS token would have set you back $0.85. Shortly after this is went crazy and reached $20, a 2,252% increase. Ah, those were the days. As we know, the bubble burst, and the KCS token did what all the rest did, and the token is currently sitting at just over $1. Now there’s still nine months until December 23, 2019…can it reach $50-$100 in that time? With Ian Balina as your ambassador, nothing is impossible. Of course this isn’t a dig at the poster, we were all guilty of such euphoria, but looking back after over a year’s worth of bear market puts it into perspective.
In this week’s meme watch, the McAfee/Ayre war heats up, Harry Potter gets a crypto reboot, and newcomers to the space get an overview of what crypto is really like.
crypto in a nutshell pic.twitter.com/LZzl0jqfPA
— CryptoChimp (@Cryptanzee) March 15, 2019
— Ledger Status (@ledgerstatus) March 16, 2019
— Don Crypto Collector (@SmartTipps) March 20, 2019
— CryptoChimp (@Cryptanzee) March 21, 2019
That’s all for ‘You Might Have Missed’ this week. See you next Sunday for more crypto nonsense!