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Toro Boro

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

In order to beat back the boredom invoked by this so-called “market” of ours, I have YouTube on quite regularly, playing music of one kind or another. I have noticed that lately I have been inundated with ads from eToro, featuring a getting-really-old Alec Baldwin touting the benefits of depositing money into a cryptocurrency trading account.

Liquidity moves markets!

Follow the money. Find the profits! 

As you might guess, he trots out his Glengarry persona (from thirty freakin’ years ago) to chastise you for not investing in Bitcoin. Because, hey, who wouldn’t want a piece of this hot, hot action in which, if you had the foresight to invest back around Thanksgiving of 2017, you’d have made $zero by now. Shame on you.

I glanced at the eToro site, and evidently their big feature – – – which they call “revolutionary” even though trade-copying features have been around for many, many years – – is that you can basically mimic all the trades of anyone else.

So let me get this straight………….you get a bunch of small traders who give their permission to push into cryptocurrencies a few moments after the top guy on the board does?

What a fantastic position of power for that guy to be in? If you look up “front-running” in the dictionary, surely there must have an image of CopyTrader, because that’s precisely what is going on. Good Lord! A guy places a trade, and bang, a bunch of other people automatically pile into the same market? That’s gotta be good for his purchase, right?

Anyway, this one chap ripped the ad apart, piece by piece:

So this crazy startup must be two guys in a garage, right? Nope. In this age of malinvestment, these folks have secured nearly a quarter billion dollars in funding.

It’s all quite strange to me, because cryptocurrencies are about as hot and relevant today as 3D Printing. It’s basically the fad that refuses to die.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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