Dark Horse Cryptocurrency Spikes 60% After Surprise Google Shout-Out (yahoo.com) 47
A little-known cryptocurrency spiked more than 60% after Google gave the project a surprise shout-out in an equally-unexpected blog post on how to use Ethereum and Google Cloud to build hybrid blockchain applications. From a report: That cryptocurrency, Chainlink (LINK), enjoyed a parabolic swing that launched its price as high as $2.00 on Binance. Just hours earlier, LINK had traded below $1.10. The Chainlink cryptocurrency spiked after Google showed how developers could use LINK to allow their Ethereum smart contracts to communicate with Google Cloud. As of the time of writing, the Chainlink cryptocurrency was priced at $1.86 on Binance, which translates into a 24-hour gain of 62%. That gives LINK a $619 million market cap, rocketing it to the 23rd spot in the market cap rankings and vaulting it past better-known crypto assets including Zcash and Dogecoin.
what is dark horse? (Score:1)
why does it say dark horse in the title and chainlink in the article?
Re: (Score:2)
a usually little known contender (such as a racehorse) that makes an unexpectedly good showing
An illiquid asset (Score:1)
With more than 2000 'cryptocurrencies', and most of them are 'illiquid'. Increasing the price is quite easy.
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With more than 2000 'cryptocurrencies', and most of them are 'illiquid'. Increasing the price is quite easy.
What makes crypto attractive to "investors"is that any one of them is inflation-proof. After the easy mining is done, the money supply is fixed. But the increasing number of cryptos out there represents an unlimited money supply - hence, inflation. And any asset that can inflate can just as quickly deflate.
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What makes crypto attractive to "investors"is...
...nothing whatsoever; the only folks who find crypto "attractive" are those mining [and trying to sell] it.
Much cheap. (Score:1)
Such disappoint. Wow.
Re: (Score:2)
In one day. I think you'll be hard pressed to find more than 1 stock traded on a major stock exchange that goes up by 60% in a day, per year.
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Re: God please keep "fools gold" whiners away (Score:2)
They are not usable as currency. One of the important properties of a currency is a stable value. People can't rely on a currency whose value swings wildly.
Satashi Nakamoto et. al. (Score:2)
In real life Satashi Nakamoto, Vitalik Buterin, and all the other cryptocurrency founders are just pseudonyms for just one person - Jen-Hsun Huang.
I like how they put LINK next to the name (Score:2)
and "ICO" began as an altcoin marketing gimmick (Score:2)
Back in the chum bait pools of cryptocurrency pump-and-dump forums some genius realized that a plain old announcement of another rigged casino game token wasn't going to stand out enough from the crowd.
so they came up with "ICO" for the same reason, to give their coin introduction a veneer of Wall St. legitimacy due to similarity with the term "IPO," and provide a pretext for selling premined "shares" to anonymous bidders, who definitely were not sockpuppets of the issuer themselves, helping their coin "fin
Pump Then Dump. (Score:2)
See where the money goes.
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You can bet one dick brain executive at google had a rush of blood to his little head and dropped the name on purpose.
Dogecoin Dogecoin Dogecoin! (Score:4)
Shoot me now (Score:1)
Also, I just lost my house and my car was repossessed.
Nice to see a classic in action (Score:2)
Pump and dump schemes will never die.
Yo dawg, I heard you like crypotcurrencies (Score:2)
So I exchanged your cryptocurrency for a cryptocurrency so you can... well, I dunno.
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So you can....
3. Profit!
As a Proud Dogecoin User (Score:2)
Such anger.