Rickards: “This $0.70 Crypto Game Changer Could Make You a FORTUNE in 2018… Starting Next Monday”

What's being touted as the first recommendation by Rickards' new Crypto Profits newsletter?

By Travis Johnson, Stock Gumshoe, January 22, 2018

Pretty much every publisher has jumped on the cryptocurrency bandwagon, and this latest one shouldn’t come as much of a surprise… Jim Rickards has styled himself as a currency guru, with his “Currency Wars Alert” and plenty of pitches about the impending demise of the dollar or other major currency moves in recent years, and now he has launched a new service about cryptocurrencies with Agora.

That service is called Rickards’ Crypto Profits ($2,000/yr), and he says he’ll be providing one recommendation per month… but that it’s just now that he has decided to recommend his first cryptocurrency.

So what is it? That’s the deep, dark secret that we’re teased with in the ads. Here are the clues he drops:

“A few days ago Jim Rickards told me he’s ready to make his first ever cryptocurrency recommendation…

“It’s a tiny crypto that’s trading for just around $0.70… [N.B. let’s check the price again before we record. Even if it’s higher, we still expect it to go much higher. It’s actually $0.53 as of Wednesday morning; a better entry point]….

“Jim says this window of opportunity to cash in BIG could close as soon as next Monday.”

OK, so there’s the urgency that every good teaser pitch requires — they know damn well that if you say, “this might rise 1,000% in a year” that you will probably take your time to think about it before giving them your credit card number… maybe even talk it over with your spouse, do some research, you know — be thoughtful.

But if they say “you’ve only got a few minutes to decide, this will be old news by Monday!” — well, then they’ll be able to convince quite a few folks to jump over the fence and come join their party right away, without looking around to see if maybe there’s an angry bull on that side of the fence… or even just a lot of cow manure to slip on.

That’s made even worse by the wild and crazy cryptocurrency markets, of course, since everyone has heard stories of the neighbors or in-laws or whoever else that got 10,000% returns on some cryptocurrency or another and is living on easy street… the “FOMO” trade (fear of missing out) is helping to drive even the stock market to wild new highs, but in the cryptocurrency world it sometimes seems like FOMO is the only thing driving prices. That discourages research, thinking, and caution, and encourages fast decisions and rash choices… like, for some people, plunking down $2,000 for a completely nonrefundable subscription like this new one from Rickards.

So at least slow down for a moment and think about that: How many things would you buy, sight unseen, for $2,000, with no recourse if it turns out that it’s junk? (or is even just completely different than you expected?) Some of you can afford that and would write it off with a laugh, I’m sure, but that’s a lot of money for most of the folks who see these investment newsletter ads — for the average person in the US, that’s about three weeks of take-home pay (or, worse, most of the money they had set aside for retirement savings for the year).

But enough preaching from me… what is this cryptocurrency that Rickards is pitching? Here are the hints I gleaned from the pitch:

“In the last few months of 2017, this coin already grew from around a penny to approximately 70 cents per coin….

“This $0.70 cent coin is better than bitcoin.

“Bitcoin doesn’t hold a candle to this coin….

“Some publications are already calling this crypto “the biggest winner” of 2018.

“CNBC calls it the “new hottest cryptocurrency of 2018.”

“And Fortune says we could see $87 billion flowing into this tiny crypto by next year.”

But the big urgency here, we’re told, is that IBM is “backing this currency” … and that there’s some kind of news expected:

“Soon, IBM is going to make a massive announcement regarding its plans with this coin…

“It could happen as soon as next Monday.”

And there is apparently other adoption happening, too:

“Deloitte has started implementing this coin for internal transactions and witnessed a 40% reduction in their costs….

“This is not just some random no-name company.

“It’s Deloitte, one of the largest accounting and consulting companies in the world.

“If you’re running a bank, wouldn’t you like to cut your costs by 40%?

“Of course you would.

“That’s why a dozen banks have already lined up to adopt this coin…

“With more on the way.”

So what little cryptocurrency are we being teased with here? This is almost certainly the Lumens token, from Stellar (often the cryptocurrency itself is called Stellar), usually abbreviated XLM. This one has grown quickly, now it’s a top-ten coin when measured by the size and dollar value of the circulating supply (the “market cap”, per coinmarketcap.com, is about $8.5 billion now — still tiny compared to bitcoin or ethereum, which together account for more than half of the dollar value of all cryptocurrencies put together, but much larger than most of the thousands of “tokens” that are vying for cash and attention).

And yes, Stellar has partnered with IBM and Deloitte — the goal is to build a network for fast transactions across currencies, with Lumens being the interim currency that is used to make everything work quickly. It is a cryptocurrency, but it’s not one that’s built on mining or on work — the participants in the system don’t earn tokens, but everyone who wants to use Lumens to facilitate transactions will need to have some inventory of the tokens in the future. The security of the system seems to be built on their own “consensus protocol,” whereby different participants in the network and choose who to trust to verify transactions. So it’s a blockchain, a public and distributed ledger still, it’s not a private or proprietary network (like Ripple is, apparently), but it’s one that is supported by partners and participants, not by miners who compete to participate.

Sounds kind of interesting as a concept, though I have no idea what kind of math you have to do to try to determine what a “lumen” should be worth. The transaction fee is set at .00001 XLM for each operation, and I guess the assignment of “trust” and the actual sending of a payment would be two operations, so that’s .00002 XLM for a basic transaction, or at the current price of something close to 50 cents per XLM “token”, that would be a fee of one thousandth of a cent. Each account is required to hold a reserve of XLM as well, at least 0.5 XLM (about 25 cents), so in order to participate in this network as a sender or recipient you’ll have to have at least a quarter “invested” in Lumens. Both of those requirements seem to be set solely to discourage bad actors and hacking, the actual fees go back into the pot and, essentially, help to fund stellar’s R&D and create the 1% annual inflation that is written into the network, from what I can tell.

So yes, it is a real cryptocurrency that is being tested by some real technology and financial services companies — though those relationships are almost certainly not exclusive in any way (IBM is doing a lot of blockchain work, presumably with many of the existing networks as well as in building their own proprietary software). I have no idea whether that means XLM has any kind of edge on becoming the foundation of the global money-transfer system in the future, every large bank and financial institution is researching blockchain integration or implementation or creating their own blockchain-inspired protocols and it’s probably going to be a while before any consensus emerges about what blockchain or cryptocurrency protocols become valuable business tools or get effectively “built in” to the next generation of internet protocols.

Here’s how Stellar describes itself, in bitcoin terms:

“The main differences between the Stellar network and Bitcoin are the following:

  • Stellar is based on a consensus algorithm rather than mining. This means transactions confirm in a few seconds.
  • The supply of lumen increases at a fixed rate of 1% a year.
  • Stellar aims to let you transact in your currency of choice (fiat or digital).

“The hope is that the currency itself will be mostly a behind-the-scenes currency, and that the Stellar network will help provide more liquidity between currencies.”

They even have the beginnings of a graphic novel that illustrates their notion of “consensus,” which even a dummy like me can appreciate.

I can’t tell you which cryptocurrencies will go up or down, of course, because there’s almost no economic rationality tied to any of the cryptocurrencies. I can’t tell you with any certainty why bitcoin should be at $100 or $1,000 or $100,000 per token, which means that, as far as I’m concerned (and yes, my brain is limited in its ability to process these ideas), these are simply speculative barometers of sentiment.

Which isn’t to say that blockchain or distributed ledgers are a passing fancy or a fad — I do think there’s a chance that they could form the foundation of the next internet, and that we’d all probably be better off if that’s what happens… but drawing any kind of line between that sentiment and a price, in US$, for any particular cryptocurrency is nonsensical to me. And any guesses about “valuation” are, frankly, even tougher for a token like Stellar Lumens, where there is not even a reward to be earned for building and maintaining the network.

What does that mean? Most cryptocurrencies are, to my way of thinking, really a distributed reward system, with the benefits of creating a new web protocol “token” being shared among those who invented it, those who work to support it (the miners who verify transactions), and those who fund the company that’s developing it (the ICO “investors”), and the “real” part of that work, (the micropayments that miners receive for verifying transactions, for example), has been completely overshadowed by the speculative folly of bidding up the future value of those tokens.

So I get the idea, and it makes sense and we could see some really powerful technological changes in the next decade if and when blockchain technology is used to dramatically improve and democratize the internet (and make transactions far faster and safer, obviating the need for all those “trusted” counterparties like banks), but I still can’t tell you whether ethereum should be worth $5 a token or $50,000, or whether Stellar Lumens and its consensus-based verification model will be in huge demand. To me, that’s all fuzzy guesswork (I do own small chunks of a few of the big cryptocurrencies, ethereum and bitcoin and bitcoin cash, but I’m fully accepting of the fact that those positions could go to zero overnight).

And with that, dear friends, I’ll pass it back to you to discuss — I can tell you that Rickards is almost certainly touting Stellar Lumens, and he thinks IBM might make some big, loud announcement about it sometime, and IBM is already a big participant in the nascent Stellar network of “validators’… but I suspect that “announcement” talk from Rickards is as much about inspiring your quick action in pulling out your credit card as it is about any fundamental reason why the Stellar Lumens story will change overnight.

So… whaddya think? Excited about Stellar Lumens or any of the other blockchain or cryptocurrency tokens out there? Have a valuation argument you want to make? Think I’m a knucklehead? (You’re not the only one who has that sentiment, don’t worry.) Our ears are open, please fill ’em up with a comment below.

P.S. The most rational explanation I’ve read for bitcoin and blockchain and the potential value that many of us see in these ideas (if not necessarily in any specific token) was in the New York Times Magazine last week — definitely worth checking out if you’re just trying to get your head around the whole crypto topic in general.


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206 Comments on "Rickards: “This $0.70 Crypto Game Changer Could Make You a FORTUNE in 2018… Starting Next Monday”"

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RonC
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STRINGBENDER AT LGFAE
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Excellent “uncovering” of what was another long winded and sidewinded pitch for the Rickards $2000 mumbo-jumbo. I got more out of your post here than I did reading the “Big R” mile and half long hype. If their information is worth the $2k they try to wring your neck to get, why not just give away a bite sized offering and tell what the crypto is (or any product for that matter) – – and earn the audience’s trust and respect. In doing so, I’m confident they’ll open their wallet joyously without having to be teased for thirty minutes and… Read more »
manhattanmadman
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There is no doubt fortunes being made right now in crypto currencies, especially in ICO investing. An ICO is similar to an IPO but with much less regulation. You can purchase the coin at lower price before the coin is release for trading on public exchanges. Companies are able to raise millions in weeks or even days. I’ve done really well investing in ICO’s like ClearPoll(POLL), Utrust(UTK), Enjin(ENJ), BlackMoon(BMC) and Appcoin(APPC). Small investments have turned into huge sums. A 1 ETH investment in POLL’s ICO was worth about $250 at the time. That returned 2800 POLL tokens. POLL traded for… Read more »
bill Connelly
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0

2nd japanes vrypto to lose MTGov wiped out when they lost 400.000.00

CryptoInvestor
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18
As Travis noted, Stellar is a solid network with a global footprint, substantial Corp. buyin, fast transaction speeds, and low transaction costs. The goals for Stellar are lofty – to basically “own” the international payments space. Their use cases also include in-country payments for countries under-served by banks and bank account holders (think southeast Asia, India, Etc). For this opportunity area, they are partnering wisely. Stellar Lumens XLM is a core holding for me, and I believe XLM is a screaming buy under $1.00. I don’t expect it to remain at these levels long. ATH in the 0.80’s, should be… Read more »
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sophie
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How does one buy Stellar Lumens XLM? And, later, how does one sell them? Thanks.

manhattanmadman
Member
135
Hi Sophie, To buy Stellar follow these steps. First you need an account on something like Coinbase.com. You can register there or use this link to get $10 when you register and trade on Coinbase: https://www.coinbase.com/join/576d9587fa5de30320000db8 Link a bank account to coinbase and add buy either BTC(Bitcoin) or ETH(Ethereum) I suggest ETH. You will be taking this currency and sending it to a different exchange where you can buy XLM. Next, you need an account on an exchange that offers XLM, I suggest Binance.com. You can register on their homepage or use this link for a bonus when registering: https://www.binance.com/?ref=18193158… Read more »
Des
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0

Thank you – what about Robinhood? Is that any good to trading crypto especially Stellar?

jeanlorrah
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13
Who are Rickards’ potential customers? I’m an old lady who has built a retirement portfolio by a combination of buy-and-hold of blue chip dividend stocks and experiments with small amounts on some up-and-coming tech stocks that I understand. I don’t understand cryptocurrency–but still, a couple of phrases from Rickards’ tease plus association with IBM and Deloitte, and I Googled up Stellar probably just as fast as Travis did. Who wants to pay $2000 for such obvious advice? I’ve seen Stellar recommended by some other pundits recently, so I will be watching for a way to purchase a small amount that… Read more »
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vic
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You are wise. You do due diligence. Unfortunately there are many people who don’t.

puppy stocks 2018
Irregular
2

This has nothing to do with Rickards Crypto play, but with GBTC/Bitcoin Trust.
I wanted to know if anyone knows when the GBTC stock split will take place, all info I have read to date says it was suppose to happen on Friday January 26, 2018. Split 90:1 SHARE so based on BTC at current levels stock would be valued at about $18.13USD a share it trades OTC shadow pool and tried to place a trade on Friday through my account but trade was rejected. My broker says they are not privy to any info from Grayscale Investments.

jeanlorrah
Member
13

It split between January 26 and 29. That’s when Google’s chart, which apparently hasn’t caught up with the fact that it’s a split, shows a dramatic “drop” from $1644.37 to $19.44. I hope your broker has it straightened out by now,

vic
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Don’t you have to be accredited to buy GBTC? (Basically you have to be $rich)

Gr8Full!
Irregular
11249

$GBTC – Currently trading at $12.32 #Best2ALL!

George Lu
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0

Crypto Coins are well and good, but my fiend bought bigcoin at $700 and bought something worth $400 and received not change back from his purchase. The retailier kept his coin because he couldn’t make change. What’s regulating the coin change when your bitcoin price is worth more than your purchase

swgoombah
Member
404

Then he overpaid and it his fault. Bitcoin goes to 8 decimals. He should have only sent $400 worth of bitcoin. IF he sent one whole coin, that is on him.

Tiger
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Probably tracking newly-listed cryptos may have some opportunities:
https://bitscreener.com/screener/overview?timeframe=1w&f=age_lt_1w

Alexander Hero
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IT’s down 10 cents

stockmarketwiz
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The best company in the space is Neptune Dashnodes (DASH:CA) (NPPTF:US) most undervalued and huge upside. The founders of the BTL Group (BTL:CA) which went from .40 to $18 are the people behind Neptune Dash

tampa eric
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1

#1 Crypto insider?

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tampa eric
Member
1

Anyone know who this is? Or how old this is?

America’s #1 Crypto Insider
Has Just Released a New FREE Guide
Revealing How He’s Helped Ordinary Americans
See Gains of Over 35,000%
With Little-Known Cryptocurrencies

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gkissi
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7

I signed up for the Rickard’s crypto subscription for $2000 and you’re 100% spot on! To my utter dismay and disgust I already owned XML so I guess my only comfort was that I made the right decision and calculation when I first bought it before Rickard’s subscription.

No complains here but I wish I had known of your site before I signed up. It will be interesting to see what his next recommendation is. Truth be told, he also recommended to short a currency trade options but I didn’t do that trade.

sophie
Member
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How do you buy (and sell) XLM safely? Thanks.

donroth
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stockmarketwiz
Guest
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the game changer is DASH – Dash is Cash – it will overtake bitcoin as the accepted method of payment – today its moving up and breaking away from all the other coins for a reason – the best way to play the sector is through DASH:CA – $NPPTF – neptune Dashnodes – these guys are brilliant – trading at its NAV presently

richie stephens
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Congrats with your DASH!

Helen Bruno
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I did buy AML. Coins. They sounded legit. Approved by the banks and governments. I am going to wait and see.

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JohnC
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Great work Travis!
Rickards Crypto just launched in UK February 27-28 with much hype, special video by invitation only etc etc. Only in this case the big announcement will cause the price to go hyper on Mar 1st. (We’ll see…)
Lazy copy still calling it a $0.70 current price (actually $0.34).
Subscribe today – only available for 24hr. But in UK 50% off offer so only £1000. But there is a 30day money back guarantee.

ronveaux
Member
0

I’m totally new to this. What are your thoughts? Is Rickards full of it?

frank_n_steyn
Irregular
71

XLM is at 38 cents today.

Gr8Full!
Irregular
11249

S. E.C Probe of ICOs Reflects Long-Running Concerns
https://www.investing.com/news/cryptocurrency-news/s.-e.c-probe-of-icos-reflects-long-running-concerns-1327400
Long #Gr8Gummunity! #Best2ALL!

Gr8Full!
Irregular
11249

Bitcoin Slammed 10% on Report of Major Hack and as SEC Steps Ups Policing Efforts on Exchanges
https://www.streetinsider.com/Forex/Bitcoin+Slammed+10%25+on+Report+of+Major+Hack+and+as+SEC+Steps+Ups+Policing+Efforts+on+Exchanges/13915466.html #Best2ALL!

tomash
Irregular
3

Thanks Travis…yours is the best service I’ve ever subscribed to…a steady hand on the tiller through a sea of retirement dreams and anxieties…How’s that foe a recommendation? RET (retired English teacher)

jkadera
Member
1

New to this… where is the best place to purchase crypto currency?

kendy1
Member
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I would start with coinbase to purchase the main coins . From there you can transfer to other accounts to purchase the smaller coins and then use the coinbase account again when you want to cash out. That works in the US anyway.

alexm28
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a

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aqrobles
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I invest in cryptocurrency with the same rationale that I invested in Facebook with. I tripled my money before I took my chips off the table – and the whole time it was going up people were telling me I was investing in air. Those same people are now telling me the same thing about crypto. Here is the thing, it doesn’t matter while you are riding it up – just don’t ride it all the way down!

Dave
Guest
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I read this article today, March 5, 2018, and looked at the price of Stellar on coinranking.com. It is .197 cents, way down from where Rickards was touting it.
No thanks.

Tom
Guest
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How do you buy XLM? Yep, I’m crypto stupid . . .

manhattanmadman
Member
135

Hi Tom,

Start on coinbase and then you will need to transfer LTC or ETH over to a different exchange to buy XLM/Stellar. A few exchanges below.

Register on coinbase, deposit money, purchase ETH, send that to one of the other exchanges after registering there, purchase XLM.

Exchanges
Coinbase https://www.coinbase.com/join/576d9587fa5de30320000db8 $10 free BTC for both of us when you join Easiest exchange to use for USA investors

Binance https://www.binance.com/?ref=18193158 Has the best coins and high volume

Coss https://sso.coss.io/api/invite/6RHLCM6D1C Newer exchange, check out their COSS coin

HitBTC https://hitbtc.com/?ref_id=5a6364fc1070e Great exchange to use, one of the first I starte

Tom
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Thanks Madman, sounds complicated, but I just may give it a try.

John
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Any ideas for sites for Europe/UK???

Thanks

John

Guest
Guest
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NASDAQ Cryptocurrency Exchange Coming, Partner with Gemini to Back Three Major Coins

Expected Cryptocurrencies to be listed on NASDAQ Exchange
NASDAQ has singled out three major cryptocurrencies that are a must list on their anticipated platform. These include Litecoin (LTC), Stellar (XLM) and Bitcoin (BTC). These should offer the traders a good mix of pairs to choose from.

https://cryptoglobalist.com/2018/05/28/nasdaq-cryptocurrency-exchange-coming-partner-with-gemini-to-back-three-major-coins/

Jon Rogers
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down to sub 20 now

JJB
Guest
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I’ve had XLM for quite a while, watched it increase in value, didn’t offload it and watched it go back down again.
I’ve held onto it stubbornly hoping for something big to happen but so far nothing has

I’ve received the email from Jim Rickards and was curious what he was touting for a £1,297 annual subscription

Can you imagine my disappointment if I’d handed my money over only to be told it was Stellar Lumens, a token I already own

Atlanta Strippers
Guest
0

Thanks for the heads up and info on Stellar Lumens!

wpDiscuz