Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

A Small Fintech Stock Surged 2,400% After Announcing It’s a Crypto Company

bloomberg.com

Post reply on HN
Print view View original

41–50 of 66 posts

Re: A Small Fintech Stock Surged 2,400% After Announcing It’s a Crypto Company

#41

Post by mv4 »

pavlov wrote: post #26
mv4 wrote: post #19

I remember the days when adding the word "e-commerce" to your penny stock had the same effect. Good times.

Back in the dot-com days there was a fish processing company called Zapata that decided to become an Internet portal. As their stock soared, Zapata tried to buy Excite.com for $1.6 billion in stock but didn't succeed. Zapata finally pulled the plug in January 2001: "The news of Zap's demise marks the end of an era. The Internet business was so heady back in 1998, when the portal-wanna-be first came on the scene, that…

I am starting to see the same patterns.

Re: A Small Fintech Stock Surged 2,400% After Announcing It’s a Crypto Company

#42

Post by skinnymuch »

mentalgainz wrote: post #20

It's not about the crypto for me.It's about the technology behind them that excites me. Blockchain is definitely worth the hype in my opinion. Reading this article got me even more excited on the applications of blockchain: https://passivetalks.com/the-top-venture-funded-blockchain-t...

Crypto is the tech. It's cryptography/cryptology and has been important and studied for a long time.

Re: A Small Fintech Stock Surged 2,400% After Announcing It’s a Crypto Company

#43

Post by SkyMarshal »

pavlov wrote: post #26
mv4 wrote: post #19

I remember the days when adding the word "e-commerce" to your penny stock had the same effect. Good times.

Back in the dot-com days there was a fish processing company called Zapata that decided to become an Internet portal. As their stock soared, Zapata tried to buy Excite.com for $1.6 billion in stock but didn't succeed. Zapata finally pulled the plug in January 2001: "The news of Zap's demise marks the end of an era. The Internet business was so heady back in 1998, when the portal-wanna-be first came on the scene, that…

>We're probably nearing the point where the Zapatas of this crypto-token boom start using their inflated valuations to try to acquire more traditional tech companies.

The crypto co's aren't going to try to acquire companies, first b/c most traditional companies have no product of interest to a decentralized platform, and second b/c most crypto's are set up as non-profit foundations.

What they will be doing soon is raiding top traditional tech companies for their best engineering talent with promises of new tech to work on and great wealth.

Re: A Small Fintech Stock Surged 2,400% After Announcing It’s a Crypto Company

#44

Post by tehlike »

quickben wrote: post #38
tehlike wrote: post #31

Earlier quoted context omitted.

Even in case of bubble, the market seems to take a temporary hit and rise even stronger.

Yes. Only 20-40% of investments, chunk of the stock market based pension, and several years or decades of ones sweat. It will rise stronger if you are in your 20s-40s, not if you are 60+ and planning to retire.

Fair point

Re: A Small Fintech Stock Surged 2,400% After Announcing It’s a Crypto Company

#45

Post by aphextron »

jvagner wrote: post #32
neil_macintyre wrote: post #8

Earlier quoted context omitted.

Seems reminiscent to the dot com bubble where just adding "e-" to your companies name could increase your market cap.

Or "i"- to a product?

I'm pretty sure that worked out just fine

Re: A Small Fintech Stock Surged 2,400% After Announcing It’s a Crypto Company

#46

Post by MicroBerto »

LeeHwang wrote: post #10

Well I see bitcoin talks by instagram models saying they are bitcoin gurus now too. I'm inclined to think bitcoin is a bubble, but cryptotech is the future.

Reminds me of the scene in The Big Short when the pole dancets each "owned" multiple homes and the guys came back to the office and exclaiming, "Yep! It's a bubble!"

Re: A Small Fintech Stock Surged 2,400% After Announcing It’s a Crypto Company

#47

Post by vfulco »

Saw the same countless times during Internet 1.0. In one case, a small uninspiring Florida bank said they were starting a website. Stock went from 8 to 92 in a day. It's called a bubble folks. Study history lest you get permanently burned when it explodes.

Re: A Small Fintech Stock Surged 2,400% After Announcing It’s a Crypto Company

#48

Post by tehlike »

AznHisoka wrote: post #6
philfrasty wrote: post #3

Another FORMER biotech NOW crypto stock RIOT https://medium.com/@jillcarlson/the-riot-act-f29a2557498f

Yep. Be careful with shorting stocks like these. RIOT just went up another 35% today. Markets can stay irrational for quite awhile...

I wish they had a year in puts. Or two. Hell of a gain there.

Re: A Small Fintech Stock Surged 2,400% After Announcing It’s a Crypto Company

#49

Post by tehlike »

turc1656 wrote: post #33

As it so happens, I just created a brand new company. We have no idea what we're going to do, or how we're going to monetize it. But we're definitely going to use blockchain technology. If you are having any doubts, we are willing to provide a brand new coin linked to our company in lieu of stock to assuage any concerns you may have about securing your investment. Who's ready to throw money at us? /sarcasm

I am willing to pay 10$/100k coins. It is guaranteed to have 5$/coin in this environment.

Re: A Small Fintech Stock Surged 2,400% After Announcing It’s a Crypto Company

#50

Post by tehlike »

ithinkinstereo wrote: post #7

“Longfin corp, a leading global FinTech company, announces the acquisition of Ziddu.com, a Blockchain-empowered solutions provider that offers Microfinance Lending against Collateralized Warehouse Receipts in the form of Ziddu Coins"

That is deep. Trying to wrap my head around what it means.
Post reply on HN