WTC was an inside job

Sometimes, the people who rule our societies decide it's okay to change public opinion for their personal profit. Sometimes, they put their money where their mouth is, and usually when they do that they expect to get rich. Given the reality of how political and economic power entwine with one another, it's almost a fool's opinion not to expect their bets to go bad. The real game becomes chasing after the same money they do without getting in the way of their profits. What am I talking about? Did you forget? It's WTC. No, not that WTC, the Waltonchain cryptocurrency. If you recall my warnings about Ripple, they seem to be a boilerplate instruction to a whole class of currency:

"Ripple represents the big banks' money in this market, and its moonshot will enrich some of the nastiest people on this planet. Participate in it if you like; my day trading friend (we'll just call him "The Reverend" for now) tells me that he expects it to moon for three to four years before the reckoning comes. The Reverend has a long position in Ripple and is heavily invested, but he's aware his money's doing the devil's work. I do have to admit though, the devil's paying some decent margins right now. So invest if you're okay with some greasy people getting even richer than you."

This is all basically applicable to Waltonchain, which is having a bit of a hootenanny on the markets right now. 24 hours ago it was $14.83 for a WTC coin. It's currently exactly ten dollars more than that, $24.83. It's blowing up like Ripple was and if you want to make some money, get in now.

But let's look at who you'll be making money with. It's a who's who of East Asia's business elite. Lots of capital from China and South Korea both, lots of well-connected businessmen from Samsung too. In a way this is good; moreso than in America even, the presence of whales like these means that the fix is in and their investment will only be allowed to prosper, outside of extraordinary circumstances. If you're taking an investing tack that is agnostic to the power of concentrated capital, this'll be one hell of a wild ride. If you're icked out by helping billionaires get richer, or (more realistically) worried that they will cut you out of the profits somehow, you might want something not so explicitly controlled by a cabal of corporations.

In a way coins like these are one end of a continuum with coins like Litecoin on the other side. Some are explicitly designed to share the wealth, and they grow slowly and are stable and usually are good at transactions. Then there are coins engineered by banks and established interests to grow quickly and make them money. Grow they will, but be leery.

#LTC #WTC #cryptocurrency #China #SouthKorea #daytrading #XRP