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A Small Fintech Stock Surged 2,600 Percent in a Week After Announcing It's a Crypto Company (bloomberg.com)
An anonymous reader shares a report: Fintech plus cryptocurrency equals about $7 billion. That's how much the value of LongFin surged to after the microcap's stock rocketed by as much as 2,600 percent since debuting Wednesday. Most of the gains came since Friday, when the company issued a press release saying it bought Ziddu.com, "a blockchain-empowered global micro-lending solutions provider" that transacts only in cryptocurrencies. LongFin joins a growing list of little-known companies that have seen their values soar after simply announcing plans to join the digital currency craze that's pushed the value of bitcoin past $300 billion. The microcap rallies are reminiscent of the height of the dot.com bubble, when virtually any company that put tech in its name found favor on the public markets.
And not that ponzi money scheme? AMIRIGHT?
Yes. But it's not a proven bubble until we see on the cover of TIME magazine, or if that guy Mr. Allen starts pitching a book called "Multiple Streams of Cryptocurrency Income with No Money Down."
Same shit as back then. A lot of people with more money than brains find something where they think for some odd reason that will generate money. How? They don't know. They don't understand it. But somehow that's gonna make money.
Everyone who DOES know also knows that this can't work. At least not in the long run. But there's idiots with money throwing it at me, should I really tell them?
I may be honest. But I'm not stupid.
We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
ANNOUNCING:
*My weiner is a cryptocurrency"...
Now...we wait for the 2600% increase!!!!
Fintech plus cryptocurrency equals about $7 billion. That's how much the value of LongFin surged to after the microcap's stock rocketed by as much as 2,600 percent since debuting Wednesday.
Wow, it feels like the dotcom boom all over again. Companies with shitty business models getting astronomical valuations because they put .com after the name of the company. Too many greedy people chasing too few real businesses. If you need evidence that there is a bubble, here you have it. Only question is when will it pop.
We now have mainboards that ain't good for nothing but mining cryptocurrency.
That's even weird by my standards.
We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
Porter Industries will henceforth be known as Porter Blockchain Bitcoin Cryptocurrency Litecoin Dogecoin Much Crypto Hype Very Wow Industries.
echo -e 'global _start\n _start:\n mov eax, 2\n int 80h\n jmp _start' > a.asm; nasm a.asm -f elf; ld a.o -o a;
How is PayCoin doing?
Nah its just some dickhead trying to make affiliate money.
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a/s/l?
film at 11
This is probably nothing more than a pump and dump scheme in action. They happen all the time and they tend to happen a lot during bubbles. The dotcom bubble was positively loaded with them.
You keep saying that and I keep making money..
Sure you do. We'll all pretend we believe you are getting rich.
Litecoin is going to break $500 by the end of the week.
You sound like all the fanbois on yahoo finance message boards shouting "to the moon!" trying to pump up their investment.
I'm diddling myself reading this, does that count?
And that is it. Unless you are stupid and desperately tying to sound "hip". Using the already well defined short form "crypto" for "cryptographic currency" is an utter fail.
Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
Yep it’s a hotbed of pedophilia.
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Time to start looking for the last greater fool so you can cash out on all those tulips.
Only the magnitude is much higher.
During the dotcom, it was the pump and dumps getting dozens of millions of dollars, or in a few semi-legit cases that eventually went bust, hundreds of millions of dollars. It wasn't all that long ago...
This company that no one heard of before today is suddenly work 7,000 million dollars (7 Billion)? Of what? How? Crazy. There are whole established industries that aren't worth that.
This whole thing is blowing my mind. I have a feeling it is going to get bigger, maybe even much bigger, and people are going to start really looking around nervously about what the end result will be, that will inevitably be what we all think it is going to be, but may have a lot of unanticipated economic fallout.
A simple question. Where is that 7 Billion dollars coming from? Only private investors? What happens if the Banks that are all poo pooing the whole idea are greedily gobbling up as much crypo coin as they can get their grubby little hands on? Sound familiar?
We now have mainboards that ain't good for nothing but mining cryptocurrency.
That's even weird by my standards.
They're just regular gaming motherboards for the most part, no matter what the marketer says.
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It's possible that Fintech holds patents in the field of cryptocurrency. Just to name a few companies: Goldman Sachs, Mastercard, Bank of America, and Coinbase. I think it's time we all take this cryptocurrency seriously and stop comparing it to tulips and dot.com bust. Thousands of public companies are valued in the hundreds of billions. Fact is, people are fed up with rising costs and falling incomes. It doesn't help when the money that people depend on is own by a cartel of banks who honestly have no interest in the people or our government by the people. USDebtClock.Org You tell me what the alternatives are.
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