Crypto.IQ Daily Digest June 20, 2018

EXCHANGES • BUSINESSINSIDER.COM

Crypto exchanges are charging up to $1 million per ICO to list tokens: ‘It’s pure capitalism’

+IQ THOUGHTS:

We think these listing fees will level off over time because the market will make that happen.

During the Gold Rush, there were those who made their fortunes (or didn’t) going out into the wilds, braving the elements and hunting for a flash in the pan and the hoped for gold nugget. And there were those who made money selling pickaxes to the miners.

We all know it was the merchants who did better. But if merchant A sold pickaxes for one price and merchant B sold them for a lot less, eventually the first guy would lose out.

We think the same is going to play out for exchanges that are getting greedy in the space, charging exorbitant listing fees. If existing exchanges get too expensive, other, more reasonable exchanges are sure to arise and eclipse them, so we think the market will take care of this problem.

PUBLIC SPHERE • FROM THEICOJOURNAL.COM

IRRATIONAL PESSIMISM: Brian Armstrong, Coinbase CEO, Pens Bear Market Haiku

+IQ THOUGHTS

Coinbase CEO Brian Armstrong coins a perfect term to describe our current cryptocurrency market.

In a play on Alan Greenspan’s famous term “irrational exuberance” that he used to describe recent market bubbles, Coinbase CEO Brian Armstrong perfectly described what we’re all feeling here at Crypto.IQ about the state of the current market: Irrational Pessimism.

Why?

Because we continually look at fundamentals. And for Bitcoin and many other cryptocurrencies, the fundamentals remain strong. So regarding the feeling in the market, we agree. It’s irrational.

And we’d add it’s a great time to pick up bargains.