In the volatile world of cryptocurrency trading, it is important to implement some strategies needed to manage your cryptocurrency investments. Managing your investments well means that your portfolio of coins is protected against risk. This guide will explore the different type of coins you should hold in order for you to manage a well-balanced investment portfolio.
A portfolio is a term that represents the collection of all investments you own across all types of investment assets. If you only own 10 types of coins and tokens, then your portfolio consists of only the 10 cryptocurrencies. It is much better to own different kinds of investments across different categories. For instance, having a portfolio consisting of a mix of cryptocurrency coins, stocks, and bonds.
Let’s start the ball rolling by understanding the most important concept in investing, called ‘Risk’.
Coin-specific risk refers to the isolated risk of a single coin or token in the cryptocurrency market, influenced by factors specific to the project itself. If for example, a project experiences a negative event (such as network failure or running away with investors’ funds), then the coin holder that invested in that project will be a victim to the project-specific risk. Coin-specific risk can be reduced through diversification.
The fact is that in the investment marketplace, risks is as much an incentive as it is a red flag. Conventional financial wisdom states that the higher the risk, the greater the expected returns. It’s no surprise that cryptocurrencies are the riskiest investments you can make.
Let’s take a look at several key factors that you need to consider when investing in cryptocurrencies.
As you build your cryptocurrency trading portfolio, it is vital to take into consideration the basic elements of tokens and coins trading. In understanding the timing element, you are well-placed to know what to do when the market goes red and movement is trending downwards.
The common principle here is to buy when the bears take over (when the market is down) and sell when the bulls are raging (when the market is up). The key concern here is not about the predictability of market price, rather, it is knowing the action to take in the face of prevailing circumstances.
“The time to buy is when there’s blood in the streets.”
Investors often use fundamental analysis to evaluate the long-term prospects and viability of a cryptocurrency. A trader, on the other hand, would utilize technical analysis by studying price charts, patterns, signals and indicators to make short-term decisions. Knowing which type of individual you are and the types of risk you’re comfortable with is key to understanding which type of analysis you should employ. Short-term trading is riskier due to the volatility of the markets.
In building a competence cycle for yourself, you get grounded in the tokens and coins that will work best for you. No individual knows everything, and it is best to develop an area of comparative strength. By doing this, you will be able to call the shots in your area of competence and minimizes losses.
Let’s be honest, cryptocurrencies wouldn’t have existed if it weren’t for Bitcoin. The creation of Bitcoin and its underlying technology- Blockchain – kickstarted a diverse industry of coins and tokens that leverages on this revolutionary technology to solve real-world issues. Bitcoin’s status as the ‘Founding Father’ of cryptocurrencies will always prevail. Bitcoin is currently the largest cryptocurrency based on market cap and makes up over 50% of the entire cryptocurrency world. It would be fair to say that the entire cryptocurrency market is highly correlated to Bitcoin’s price movements.
Bitcoin is also the default base currency of the cryptocurrency world. Anyone that wants to buy any other altcoins or tokens, would need to purchase Bitcoin first in order to easily acquire any other coins. This is because local cryptocurrency exchanges usually limit the amount of coins that can be purchased by local fiat money.
By holding some percentage of Bitcoin, you can give a balance to your investment as a market downtrend or uptrend will almost always be initiated by Bitcoin. It is important to have a part of your portfolio in Bitcoin.
Add all of the subject matters up and you find yourself with the field of cryptocurrencies. These layers of complexities is undoubtedly a tall order for many of us, but it also offers an exciting new future that we can all be a part of. Blockchain is a revolutionary technology with the potential to disrupt many industries.
Here at Master The Crypto, we’re dedicated to simplifying the complexities of cryptocurrencies and blockchain technology so you can easily understand the awesome concepts and features that has captivated lots of people. We’ve compiled the top 10 concepts and terms that is vital for you to understand in the cryptocurrency world, explained through infographics.
The underlying technology of cryptocurrencies is blockchain, a highly complex yet revolutionary advancement that has the potential to disrupt our way of life for the better. Understanding how blockchain technology works is the first step in your cryptocurrency journey.
After getting over this seemingly intimidating concept, you’d find that blockchain technology is really fascinating. You don’t’ necessarily need to understand the technical aspects of blockchain; a high-level understanding is sufficient for you to appreciate the technology. Once you’ve understood how it works, it will be much easier for you to understand the entire market; from the technology’s limitation to potential in disrupting many industries.
Both terms are often synonymously used with little understanding on their correct usage, and this differentiation is an elementary foundation to cryptocurrencies. Although many cryptocurrencies have existed prior to Bitcoin, it’s creation marks an important milestone in the realm of digital currencies, due to its distributed and decentralized nature. The creation of Bitcoin precipitated the expansion of a lush and more diverse ecosystem of other coins and tokens, that are often regarded as cryptocurrencies in general, even when most of them do not fall under the definition of a “currency”. The term cryptocurrency is actually a misnomer since a currency technically represents a unit of account, a store of value and a medium of exchange.
#3: Identifying Scams
Scams in the cryptocurrency world is as common as trees in the forest. Protect yourself by recognizing common traits of cryptocurrency scams:
Without a doubt, knowing how to avoid scams is a vital skill set in the ‘wild west’ of the cryptocurrency markets. Scams, shady projects and ponzi schemes are an extremely common phenomenon since the cryptocurrency world is unregulated. The complexities and technicalities in understanding cryptocurrencies makes it even worse, since many are unaware of what to look out for or avoid. This makes many people vulnerable to the threats poses by such ‘get-rich-quick’ scams.
The best way is to protect yourself is to identify the common characteristics of scams or crappy projects with the infographic above. It is always vital to engage in rigorous due diligence before investing anything in this unregulated market. Even if you feel its too complex, doing a simple google research on whether a particular investment is a scam would suffice.
All you have to do is type something like “Is project XXXX a scam?”
Of course, that’s the absolute minimum. We highly recommend doing more research than that!
Yes, blockchains can be either public, private or a hybrid of both. Public blockchains are referred to as permissionless (since no permission is required to participate in the network) while private blockchains is permissioned (only pre-approved selected entities can participate). These infographics paint a picture on the advantages and disadvantages of each systems.
Understanding 3 different concepts can be daunting but rest assured we’ve simplified it as best as possible. Understanding the differences between a public and private blockchain would help us to understand the limitations of each system and the potential applications of blockchain in different industries. Blockchain isn’t going to disrupt EVERY industry or be a panacea to all of humanity’s problem, but it can be applied to several use cases that would make our lives much better. Think about sending money instantaneously with extremely low fees where all transactions are public. Or a decentralized internet where information isn’t controlled by mega-corporations. There are many other use cases that merits awareness on the potential of blockchain technology.
But first, lets understand the different types of blockchain!
This article takes a look at how blockchain is impacting the world of international money transfers, and how consumers will stand to gain in the long-run.
The arrival of several financial technology (FinTech) companies over the last couple of decades has come with several benefits for people to carry out cross-border fund transfers. Unfortunately, the top three remittances institutions – MoneyGram, Western Union and RIA – still include names of older well-established players, and they account for more a quarter of the entire international remittance market share.
However, with the advent of blockchain, we can expect to see massive disruptions in the money remittances space very soon.
Bitcoin and blockchain is two separate concepts that is often interchangeable. Blockchain is a digital ledger of transactions where transactions are publicly recorded and are immutable. Blockchain technology possesses huge potential in disrupting many industries, and there are already thousands of coins and tokens in the cryptocurrency market utilizing blockchain. Bitcoin on the other hand, is the first decentralized cryptocurrency that uses blockchain technology. Although blockchain technology came with Bitcoin, there are numerous use cases that can be applied with it.
In early 2018, MoneyGram, a prominent overseas money transfer company, tied up with Ripple, a blockchain-based technology company. The next major international transfer company to tie up with Ripple was Western Union.
Later in year, InstaReM and BeeTech, based in Singapore and São Paulo respectively, partnered with each other to make money transfers between the two regions quicker and more cost efficient. This was made possible because of their association with Ripple. Around the same time, Hong Kong-based Alipay started providing its blockchain remittance service.
Banks from different parts of the world are also looking at how they may benefit by partnering with Ripple. Some that have already jumped on the bandwagon include Crédit Agricol, National Bank of Abu Dhabi, Royal Bank of Canada and UBS.
It is important to understand that there are two ways in which blockchain technology can facilitate disruption in the global money remittances space.
Cryptocurrencies: With the creation of Bitcoin, users can send value effortlessly across the globe at a fraction of the price and within minutes! This is possible since Bitcoin eliminates any third-parties (such as banks and money remittances companies) and facilitates trustless peer-to-peer transactions between users.
Blockchain-Integration in Traditional Companies: If the international money transfer industry adopts blockchain technology to their current processes, they can stand to reap from various benefits.
In both scenarios, the end consumers will stand to benefit due to the availability of cryptocurrencies as a viable alternative, which will undoubtedly force traditional companies to either adopt blockchain technology or reduce their fees in the long-run.
Here are the benefits that the masses can expect in the future:
Perhaps the biggest advantage of using blockchain in money transfers is the tremendously low costs required to process transactions. Here’s a look at the global costs of money transfers as a percentage to the amount sent:
Data suggests that the average cost of using a bank to send money overseas is around 7-10%. If an online money transfer specialists is used (such as TransferWise, OFX, or WorldFirst, the average cost drops to around 5.3%. However, money transfer companies still depend on banks to function as intermediaries. Blockchain-based transfers can do away with the need for banks and third-parties completely, making them even more cost effective.
Unlike banks that can take days to process overseas money transfer, blockchain-based transfers can process in near real-time, or even a fraction of the time that banks and third-parties would normally take.
Access to More People
People in several parts of Asia, Africa, and South America do not have easy access to traditional forms of banking. In fact, over half of the world’s population are ‘unbanked’, meaning that they do not have access to any financial services.
Unlike banks and traditional money transfer companies that operate in a centralized manner, blockchain is completely decentralized in nature. This makes it more difficult to penetrate or hack. In addition, unique entries that mark each transaction in a digital ledger are incredibly secure, immutable and safe.
Are There Any Shortcomings?
Dealing with cryptocurrencies requires going through a slight learning curve, the difficulty level of which depends on the technical knowhow of any individual. Another drawback is the double exposure to currency conversions, which can increase the fees. For example, sending money from the U.S. to Australia would require buying a cryptocurrency using U.S. dollars, and then selling it in exchange for Australian dollars. Besides, most countries are still grappling with formulating regulatory guidelines surrounding cross-border transfers that involve cryptocurrencies.
Given how blockchain has already made a mark in different fields, it is only a matter of time before the technology finds even more acceptance and adoption. End-users would stand to greatly benefit from the advancement of blockchain technology, since it represents a catalyst that would streamline the global money transfer industry for the better.
This article was contributed by Jon, a researcher with iCompareFX, a website that lets users compare the world’s leading overseas money transfer companies depending on where they live. It also provides access to in-depth reviews and promotional offers.
Beneficial Resources To Get You Started
If you’re starting your journey into the complex world of cryptocurrencies, here’s a list of useful resources and guides that will get you on your way:
There are several ways for anyone to generate wealth in the Cryptocurrency market. You can either be a:
Mining is a technical process that requires someone to have background knowledge and experience in setting up sophisticated computing software and equipment to mine new cryptocurrencies. Undoubtedly, the easiest way for the general public to make money in the cryptocurrency world is through investing or trading.
The terms ‘investing’ and ‘trading’ has often been used interchangeably in the cryptocurrency market. However, there are fundamental differences between both concepts that is vital for you to understand and align your financial goals with. This guide will be fully dedicated in exploring the various differences.
Before delving into the specifics, let’s take a look at two prominent giants that embodies of our subject matter; one is a prolific investor while the other is a legendary trader. Both have generated a massive amount of wealth in their lifetimes, but in different ways.
Warren Buffet is a renowned long-term investor with an effective style of value investing. Value Investing refers to the investing in under-priced investments or stocks that are trading at a discount to their intrinsic value.
In the world of finance, intrinsic value refers to the value of an asset (company, stock, currency etc.) that is calculated through fundamental analysis, which requires analyzing quantitative statements. The core elements of financial statements include a company’s Balance Sheet, Cash Flow, Profit & Loss Statement.
Buffett has the ability to identify valuable companies and has bought, sold and invested in hundreds of companies over his lifetime. Among his notable investment holdings are household brand names such as Coca-Cola, Apple, American Express and The Washington Post. Buffett owns Berkshire Hathaway, a multinational conglomerate that is currently the third largest public company in the world with a value of close to $500 billion. Buffet’s value-investing philosophy has a long-term investment horizon since it takes time for the assets to appreciate in value fundamentally.
George Soros on the other hand, is a legendary trader who is known for his contrarian approach (going against the status quo) to trading. He once ‘broke the Bank of England’ by shorting (betting against) the sterling pound and making more than $1 Billion in just that trade alone! Not only that, Soros went out again and betted against Thailand and Malaysia’s currencies (Baht & Ringgit respectively) in 1997, which generated hundreds and millions of dollars in profit. However, it came at a cost; Soros was blamed for igniting the Asian Financial Crisis for his actions.
Soros also managed arguably the world’s most successful hedge fund (Quantum Fund), generating a mind-boggling 30% returns for investors over the period of 3 decades.
In order to understand the magnitude of Quantum Fund’s returns, an initial investment of $1,000 in 1970 would have grown to a whopping $4 million by the year 2000!
While Soros scours the market for short-term trades to exploit the status quo, Buffet unravels undervalued companies for the long-term. It is clear that Buffett and Soros are two individuals with different styles of wealth creation but they shared a commonality; they were highly successful in making tremendous amounts of money.
Traders on the other hand, possess a short-term horizon with an emphasis on price movements. Traders are concerned with hourly and daily price movements of the cryptocurrency market, engaging in buying and selling of coins with the objective of short-term profits. The basic goal of traders is to buy a coin at a low price and sell it at a higher price in the next minute, hour, day or week. Volatility is a critical component that traders look out for when trading in the short-term horizon, since prices must have sufficient price movements for traders to be profitable. The extreme volatility of the cryptocurrency market makes it a highly profitable endeavor for traders. (See more: Guide to Market Capitalization: Everything You Need to Know About Market Cap)
There are different types of traders that include:
Scalpers: Perhaps the most active form of trading, scalpers will buy and sell coins many times a day, with the objective of ‘scalping’ or making a small profit in each of the trades. The trades can be as short as seconds or even minutes! Scalpers rely on frequent and small gains to generate a cumulative chunk of profits by the end of the day. Scalpers will tend to make quite a large number of trades – dozens or hundreds – in a single day.
Day Traders: As the name suggests, day traders execute trades within the day and would close out any positions at the end of the trading day. More often than not, day traders do not hold any overnight positions. Each trade could last minutes or hours, with constant monitoring of price movements to exploit intraday price anomalies.
Momentum Traders: In momentum trading, trades are executed according to the strength of current price trends in the hopes that the ‘momentum’ will continue in the same direction (either upwards or downwards trend). Momentum traders aim to ‘ride the wave’ by executing short-term positions across a particular market direction; buying at a low price in an uptrend and then selling as soon as prices start to break the momentum or selling at a high price in a downtrend and buying back at a lower price. This requires a good understanding of market conditions and an acute sense of timing. The holding period for momentum trade can range from hours to weeks.
Traders can make money from both an upward-trending (bull) market or a downward-trending (bear) market. Making money in a bull market is easy; you buy a coin at a low price and sell it at a higher price to get a profit! In a bear market, traders can make money through the process of shorting (or sometimes referred to as ‘margin trading’). Shorting is the process of selling the coins at a high price by borrowing the coins from a third-party (usually from a cryptocurrency exchange) and buying the coins back at a low price from the open market. This way, traders will give back all the coins that they borrowed in the first place and acquire a profit from buying back at a low price!
Swing Traders: Swing trading is a strategy that takes advantage of a coin’s short-term price swings, typically ranging between a day and a few weeks. Technical analysis is used to identify potential opportunities where a coin’s price would explosively move in a certain direction within a short time.
This refers to the frequency of executing trades. Trade frequency is directly linked with the investment period of an investment; the longer the time horizon for an investment, the lesser frequency of trades there will be. Investors usually have a low trade frequency, indicating that they will tend to hold on to a coin without selling until their long-term objective is met, which can span out a few years. Cryptocurrency investors would invest in a coin (or a number of coins) and store them in a cryptocurrency wallet for long-term safekeeping. (Read more: Coins, Tokens & Altcoins: What’s the Difference?)
Traders on the other hand, has a higher trade frequency. Traders would execute many trades since they’re in the constant pursuit of profiting from market opportunities. Though trading has gives a higher probability of generating more profits, it is a highly risky endeavor that requires active and constant monitoring of market conditions.
Risk profile (or ‘risk appetite’) refers to the level of risk that one is comfortable with. It is important for everyone to understand the concept of risk in investing. Risk is directly related to the potential returns of a particular investment, as illustrated here:
Of course, there will always be those that have a different perspective on things, and cryptocurrencies aren’t any different. However, it is important to look at the different perspectives on the opposite end to evaluate whether it has any merits and are just plain ‘noise’. This article will be dedicated toward understanding and addressing the opposing viewpoints of those against cryptocurrencies and blockchain technology. We have compiled 5 main misconceptions that the public has toward Bitcoin and cryptocurrencies.
No one knows who the creator of Bitcoin – Satoshi Nakamoto – is. The anonymity of Bitcoin’s creator has often been a point for many to discard any of Bitcoin’s merits. However, the anonymity of Bitcoin is perhaps the main reason why it is so revolutionary and successfully functional. You see, Bitcoin is a trustless system where you do not have to trust anyone in the network to ensure that our payment will be facilitated and secured. There are mechanisms in place (consensus mechanisms) that ensure the alignment of interest of every participant, therefore enabling the self-operating and self-executing to function securely.
In short, the technology speaks for itself. The identity of the creator has no relevance towards the quality and credence of the technology itself. Why? Because Bitcoin’s underlying source code (the lines of computing codes that make Bitcoin work) is open source, meaning the codes are publicly viewable and freely available. Anyone can inspect and download Bitcoin’s software for free! This open-source nature allows anyone to uncover the underlying mechanics of Bitcoin and its potential limitations. The identity of Satoshi is then irrelevant since the technology itself is open to the world, allowing the public to dissect Bitcoin down to every single detail. This transparency has allowed Bitcoin to stand on its own feet, separate from the identity of its creator. After almost a decade of existence, it is clear that Bitcoin is a disruptive technology with little fundamental issues.
Value is a subjective thing and is ultimately determined by people; if many people deem it valuable then there will be greater demand for it. Perhaps the best way to illustrate the notion of intrinsic value is through gold. Any debate about intrinsic value will be incomplete without mentioning gold. Ironically, if we take a look at gold, only 10% of the total gold supply is used for actual industrial and electronic purposes, while the majority is used for making jewelleries. In short, the ‘intrinsic value’ that many have associated gold with is rooted more on ostentation and the ‘perception’ that gold is valuable rather than being backed by actual use cases. The notion that ‘intrinsic value’ can only be attributed to something physical is irrelevant and should be discarded.
Bitcoin – although intangible – has actual uses cases. Using Bitcoin, users can circumvent the traditional banking system full of expensive intermediaries and long waiting times. Value can be sent globally in a significantly lower cost and shorter time frame through a secure distributed network. Records are immutably stored in a public ledger, where transactions and ownership statuses can be verified by anyone. The value of Bitcoin lies in its utility, network, and adoption. With a fixed supply of only 21 million, it is also inflation-protected.
Kidbizo is an ICO project that aims to expose and educate children in the field of entrepreneurship. Kids will be guided through the process of opening their own business and will be provided with the necessary tools needed to succeed in the business world. Due to a number of calls for assessing the legitimacy of this project, we have decided to take on the challenge and assess Kidbizo’s ICO using our fundamental analysis screener.
Let us analyze the project through 3 critical elements:
Plagiarism: There are numerous segments where the white paper has plagiarized content from prior sources off the internet. Plagiarism is a definite red flag since it implies that the project isn’t serious in creating their own original content specifically for their project. Here are the excerpts:
Full of Fluff: It is obvious that the white paper is filled with superficial language meant to create ‘buzz and hype’ rather than to explain the technical details in depth. In fact, there is no mention about their technology nor how they would achieve their goals using blockchain.
Poor Editing Standards: The whitepaper is full of editorial and grammatical mistakes. It seems that putting huge amounts of irrelevant content is the objective rather than systematically explaining the project.
No Unique Selling Point: The strength of any business or project is highly dependant on how unique they are relative to their competitors, and whether it solves a real problem. It is hard to conceive a scenario of how Kidbizo actually has any unique differentiators since it is basically an education/tuition center that focuses on giving entrepreneurship lessons for kids. There is a multitude of traditional options for parents to choose from; extra-curricular classes in school, enrolling in leadership classes focused on entrepreneurship, surfing the internet for tips to assist kids in starting their own business, or even watching Shark Tank!
Doesn’t Require a Blockchain: There doesn’t seem to be any use case for a blockchain or tokens in this case. There is NO technical overview or details regarding the project. The ‘Technical’ section of Kidbizo whitepaper does not indicate – in any way – the technical components and processes of their project or technology. In fact, that section merely points out the definition of blockchain, smart contracts and how they work. The fact that no technical details are available implies that either the team has no idea what they’re doing or they have not come up with a suitable technical overview of how the project will actually work! This insinuates that this ICO is a pure money grab.
No Token Use: The Kidbizo tokens seem to be useless since there is no mention on how it can be used in the first place! Can you access the range of educational services with the token? Does the token serve only for capital-raising purposes? These key questions are not addressed in the whitepaper. This is a terribly clear red flag on Kidbizo.
Technical Inaccuracies: Under the ‘Technical’ section of the Kidbizo white paper, a glaring inaccuracy stands out from the rest:
SPV Structure: The fact that a Special Purpose Vehicle (SPV) is used highlights a potentially fraudulent intent of the project. This is the first time we’ve come across a structure where an SPV is used for cryptocurrency projects since the use of blockchain or smart contracts are used to circumvent 3rd parties or intermediaries. An SPV is a legal entity that is used in the corporate world for companies to isolate their assets, thereby insulating investors from bankruptcy risks. Although it sounds good, we argue that the use of SPV is unnecessary since smart contracts facilitate the ICO investing process directly between the ICO company and investors. Having a legally-insulated intermediary in the form of an SPV serves absolutely no purpose since the tokens are not securities and investors DO NOT have any legal recourse, to begin with. Therefore, although the original purpose of an SPV is to legally protect investors, investors holding Kidbizo tokens cannot be protected since the tokens DO NOT have any legal recognition. We would opine that the SPV is set up to detach any financial risks away from the original company that the project incorporated with. We are highly suspicious of this move.
Exchange of Value: The last sentence of the highlighted portion makes absolutely no sense and is a clear indicator of the incapability of the project to understand how an ICO or a crypto exchange process work. In order for investors to sell any of their tokens, the tokens must already be trading on an actual cryptocurrency exchange. A traditional cryptocurrency exchange DOES NOT use smart contracts to facilitate exchanges between buyers and sellers. Giving them the benefit of the doubt, perhaps they’re referring to decentralized exchanges (DEX), which does use smart contracts to facilitate cryptocurrency trading. However, it is NOT feasible for any project to integrate a DEX into their operations just for this function, because a monumental amount of resource is needed to make this work. The only possible objective for Kidbizo is to facilitate the trading of its tokens on independent DEXs, which looks to be way beyond the scope of the technical section of their white paper. The fact that the whitepaper so casually states the ease of which their tokens can be traded automatically using smart contracts is extremely worrying since there are numerous factors to be considered for investors choosing that scenario.
Unverifiable Individuals: Straight of the bat, it is obvious that the individuals listed in the website as the team members of Kidbizo look shady at best. There is no link to their LinkedIn account or any other profile that can be used to verify the identity of these members. Additionally, all of the names are not the full names of these individuals, which makes it even harder for anyone to verify them. The difficulty in verifying the team members is an obvious red flag.
No Segregation of Roles: Perhaps an equally important element is identifying the roles and function of each team member so that there is a clear organizational hierarchy that the public can analyze. It is no surprise that there is no mention of the members’ roles in the project, which makes it hard to ascertain the extent of their contribution to the project. This ambiguity seems to indicate an intent to detach real-life individuals to their online personas as can be seen above. This is definitely a big red flag.
Low Credibility of Core members: There are 2 identified members – Rocky Mirza & Haroon Qureshi – that seem to be linked with substantial controversy within the online Muslim space. Here is a website that tries to warn others about the potentially unethical business practices of these identified individuals. It must be iterated that we can never confirm or ignore the authenticity of the claims against them, but the purpose of highlighting them here is for others to engage in further due diligence.
There are so many red flags and inconsistencies in Kidbizo ICO that it is incomprehensible why anyone would want to invest in this project. The project fails in all aspect of project viability, blockchain use-case, token utility, and whitepaper assessment. We would definitely recommend others to share this around to alert others.