Tuesday, September 5, 2017

Cryptocurrency bubble? Who needs to wait for the cabbie to give investment advice when you have Paris Hilton pushing cryptos

Ever since the 1929 stock market crash, some investors have claimed that a market isn't a bubble until your cab driver or newspaper boy starts giving you investment advice.  And while this scenario isn't as prevalent today in the era of the internet and stock bulletin boards, perhaps where this paradigm has continued on is in the use of Hollywood celebrities to hawk certain asset classes or investment vehicles.

Tom Selleck hawks reverse mortgages.

William Devane pushes gold and silver retirement vehicle.

So with this in mind, would you care to fathom a guess who is taking the lead in pushing a new cryptocurrency to be known as Lydiancoin?  How about none other than Paris Hilton.

The ICO market just received an endorsement from the reality television star who tried to copyright the phrase "that's hot." 
Hotel-empire heiress Paris Hilton revealed on twitter that she’s joined the ICO party just as the Chinese government has announced harsh new restrictions that will make it virtually impossible for its citizens, some of the most voracious buyers of these coins, to participate in new offerings. 
Hilton said this weekend that she’s “looking forward” to participating in an offering called Lydiancoin. 
According to Business Insider, LydianCoin is a platform that wants to combine the blockchain with "targeted, AI driven digital marketing and advertising services." In its white paper (of course, the company launching the offering hasn’t actually built the product yet), advertising-tech company Gravity4 aims to raise $100 million by selling 20 million Lydian coins at $5 a pop. As BI reports, Gravity4's CEO Gubaksh Chahal pleaded guilty to assault in 2014 after being accused of beating his girlfriend, and was accused of violating his probation by assaulting another woman. - Zerohedge


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