[MUST-READ] Cryptocurrency “Turf War” at Agora Financial

Here’s where we stand after Monday. “BlancoCoin” is not real. Ray Blanco has not launched his own cryptocurrency. Not yet, at least!

Apologies for any confusion.

Now… your letters in response to Ray’s Monday issue:

What does your partner, Mr. Basenese, director of cryptocurrencies at Agora Financial, have to say? He just recommended five in his “special report.” This doesn’t help me believe in Agora. Yeah, Ray, you’re right. There is a bit of a leap of faith with these. That’s why I turn to the “experts” at Agora to guide me. How about a unified front?

Taking a shot at this one myself, I’d say Lou likes cryptocurrencies. Apparently, he sent you five in a “special report.”

Look, Lou respects Ray, and Ray respects Lou. Sometimes their ideas match up.

Sometimes they do not. Lou does his own work and treats his readers well. Ray does the same.

Your “belief in Agora,” dear reader, should be strengthened by the above, not damaged.

If Agora Financial truly presented a “united front” as you call it, we’d be no better than the editorial page of The Wall Street Journal or the chitchat-fests on CNBC.

You come to us for diverse research perspectives on hot topics. You come to us for diligent analysis of the big trends and market stories of the day.

Then, and this is the tough part, you go make your own decisions.

If you bought Lou’s cryptocurrency research, good for you. Judge it for yourself and then act accordingly.

If you read Tomorrow’s Trends Today because you expect Ray’s research to back up what Lou publishes, take a seat, because it might be a long wait.

Moving on…

I’ve had a hard time trying to understand the whole cryptocurrency craze. When I got a recommendation from someone I respect and follow, I thought I’d jump in the shallow end and give it a shot with a mere $100.

I tend to side with you on the matter, but I’m leaving my $100 dispersed in four different currencies just to see what happens.

This reader gets it.

First, he’s curious about cryptocurrencies. Second, he’s speculating very rationally.

Third, he’s open to new information. And fourth, he understands Ray and Lou don’t have to agree to each serve their readers well. Up next…

Are you locking horns with Louis Basenese?

You want a turf war, is that it?

That’s not what we do here, remember. Editors do their own work. They come to their own conclusions.

Agora Financial provides a variety of viewpoints. We show you, when we’re doing our job best, all sides of a story.

In the end, you are better equipped. And hopefully you make better decisions.

Continuing through the mailbag…

In sum, you’re a fantastic bio and tech analyst, but I think you’re skipping over some incredible tech in the crypto landscape. Don’t bash the mania, just keep it in perspective. Let the speculators speculate. Just remind them that they can go to zero with their speculations.

Ray’s on record saying how incredible the tech behind cryptocurrencies is. The mania — there’s the problem.

OK, one more…

First of all, thanks Ray for 200%-plus gain on NDRM. This is exactly the sort of research and recommendation I wish to gain from Technology Profits Confidential.

I respect your thoughts and experience in general [on] greed/fear concerns that burn so many (I have scars for my lessons). I myself consider cryptocurrencies to be the highest level risk of all my investments, and as such keep my exposure to 2% or less.

Another good speculator who’s open to all ideas. Congrats!

And congrats to all the Technology Profits Confidential readers who recently bagged that 200%-plus gain on NDRM.

I bet there’s no shortage of cryptocurrency enthusiasts out there hoping for ridiculous multiples of that in-the-books gain! But be careful out there…

Billionaire Howard Marks, quoted by MarketWatch yesterday, said about cryptocurrencies, “They’re not real,” and “perhaps even a pyramid scheme.”

Now there’s a strong statement on cryptocurrencies! Who’s right? Time will tell…


Aaron Gentzler
for The Daily Reckoning

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