Governments & regulators are finally hitting illegal gambling
As usual, takes governments a decade to react to anything new. But once they get started they are relentless, zero is the bottom.
They had a nice run, criminals made alot of money. But this disgusting filth is getting destroyed now.
Microtransactions have been around for 20 years, at least the idea, but they have really been abused in the past 10 years and on a massive scale in the past 5 years, and now since very recently every gaming company in the world wants to milk the cow. Heard about the Diablo catastrophy?
On the same subject, crypto has been around for 20 years (DigiCash B-money BitGold HashCash), but they have really been abused in the past 10 years (BTC 2009+) and on a massive scale in the past 5 years, and now since very recently every tech company and their mother wants to milk the cow. Heard about IBM Blockchain technology (empowers businesses to digitize your transaction workflow through a highly secured, shared and distributed ledger - lol nice one IBM).
Exact same to us traders, and the % moves are even similar with gaming companies crashing down and making 20% bounces in 3 days, crypto doing more or less the same. So might as well put them together.
Quick examples from 2018
"Video game loot boxes are "in violation of gambling legislation", according to the Belgium Gaming Commission"
"Hawaiian state representative Chris Lee recently held a press conference where he characterized loot boxes as “predatory gaming,” and is working on legislation to ban minors from buying them. He later added in a Reddit post that “these kinds of loot boxes and microtransactions are explicitly designed to prey upon and exploit human psychology in the same way casino games are so designed.”"
"US SEC Levies ‘First’ Civil Penalties Against Two ICOs for ‘Unregistered’ Securities"
"SEC Slaps ‘Fraudulent’ ICO Founder With $30K Fine, Lifetime Ban"
I do not care about how good the business model is, if your scam gets banned, the company revenues for that area is going straight to 0.
Not down 50%. Down 100%. Zer0.
It took a while, but it is really good that this is happening now. Crypto and microtransactions, same story, they just prey on idiots and addicted gamblers.
Or little children. They are literally stealing candy from infants mouths. Or not infants but 5 years old. I will smile if they lose their pants.
This will present good opportunities for smart money to go long on dumps and play the bounce, and NEVER EVER hold this crap.
If gaming companies get undervalued, we could invest in them, but why invest in the devil, it's not all about making money.
So ye, ride's over. Officials have finally made their move. Party's over boys, and it's all going down.
LMAO activision blizzard. They are so bad at public communication. Anf they rly choose the wrong moment to jion the train.
"Wow they're all making so much money" these super greedy idiots got all excited.
Man I HOPE I really HOPE I pray China bans these disgusting predatory practices :D They just get insta destroyed then.
ROAD TO ZERO!
They had a nice run, criminals made alot of money. But this disgusting filth is getting destroyed now.
Microtransactions have been around for 20 years, at least the idea, but they have really been abused in the past 10 years and on a massive scale in the past 5 years, and now since very recently every gaming company in the world wants to milk the cow. Heard about the Diablo catastrophy?
On the same subject, crypto has been around for 20 years (DigiCash B-money BitGold HashCash), but they have really been abused in the past 10 years (BTC 2009+) and on a massive scale in the past 5 years, and now since very recently every tech company and their mother wants to milk the cow. Heard about IBM Blockchain technology (empowers businesses to digitize your transaction workflow through a highly secured, shared and distributed ledger - lol nice one IBM).
Exact same to us traders, and the % moves are even similar with gaming companies crashing down and making 20% bounces in 3 days, crypto doing more or less the same. So might as well put them together.
Quick examples from 2018
"Video game loot boxes are "in violation of gambling legislation", according to the Belgium Gaming Commission"
"Hawaiian state representative Chris Lee recently held a press conference where he characterized loot boxes as “predatory gaming,” and is working on legislation to ban minors from buying them. He later added in a Reddit post that “these kinds of loot boxes and microtransactions are explicitly designed to prey upon and exploit human psychology in the same way casino games are so designed.”"
"US SEC Levies ‘First’ Civil Penalties Against Two ICOs for ‘Unregistered’ Securities"
"SEC Slaps ‘Fraudulent’ ICO Founder With $30K Fine, Lifetime Ban"
I do not care about how good the business model is, if your scam gets banned, the company revenues for that area is going straight to 0.
Not down 50%. Down 100%. Zer0.
It took a while, but it is really good that this is happening now. Crypto and microtransactions, same story, they just prey on idiots and addicted gamblers.
Or little children. They are literally stealing candy from infants mouths. Or not infants but 5 years old. I will smile if they lose their pants.
This will present good opportunities for smart money to go long on dumps and play the bounce, and NEVER EVER hold this crap.
If gaming companies get undervalued, we could invest in them, but why invest in the devil, it's not all about making money.
So ye, ride's over. Officials have finally made their move. Party's over boys, and it's all going down.
LMAO activision blizzard. They are so bad at public communication. Anf they rly choose the wrong moment to jion the train.
"Wow they're all making so much money" these super greedy idiots got all excited.
Man I HOPE I really HOPE I pray China bans these disgusting predatory practices :D They just get insta destroyed then.
ROAD TO ZERO!