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What happened to that guy who said he had like $5k invested in Dogecoin?
What happened to that guy who said he had like $5k invested in Dogecoin?
You've got to research research research. There is a bubble. The bubble is this massive amount of coins. However, some of these coins are going to succeed. It's not just going to be one.
Some questions you need to ask yourself when investing in an altcoin
1) Does this new coin fill a need that others don't?
1a) Is there high demand for that need/niche?
2) Who's behind the coin? The CEO, the devs, the marketing team.
3) What's their business strategy?
4) Where are they at in their development? Have they launched a working platform? Are they still in their conceptual phase with no product? Do they have a beta out?
5) What's the community consensus around "insert coin here"?
With your example of litecoin vs ripple, ripple is a crypto for financial instituions to provide instant liquidity between them with no fees. It's not really meant for retail consumers. Litecoin is a superior version of bitcoin in that it's designed for the individual user, is nearly instant and has low fees.
Power Ledger (POWR) is going to be a currency tied into the emerging smart energy power grid for buying, selling and trading renewable energy. Don't ask me how it works, I don't know. lol.
Substratum (SUB) is trying to build a decentralized internet where people that host their network get paid in SUB for the use of their computer's resources. People use the SUB coin for access to a decentralized internet that cannot be censored or controlled.
IOTA is the next evolution of block-chain in that it makes the block-chain obsolete and is not actually a block-chain. It is instant and has no fees. The developers are based in Berlin. The company wants IOTA to eventually be used as the currency for the internet of things.
Ethereum is a decentralized app building platform, with ether being the fuel used to power the network.
What I'm getting at here is these coins arent just made for the purpose of currency. They have different tech behind them and are seeking different market niches. Be wary of a new coin where its only goal is to be used as currency.
Gold has been hedge against inflation historically. Fixed bond funds can still have a reasonable growth rate, not to mention decent dividends.
I have everything: stocks, bonds, IRA, gold, silver, pension, and now I have crypocurrencies (now I have about 30 of them.)
I'm really diversified.
I have everything: stocks, bonds, IRA, gold, silver, pension, and now I have crypocurrencies (now I have about 30 of them.)
I'm really diversified.
I might think about cryptocurrencies when a major correction occurs, until then I will stick with stocks. I also think the stock market bull run will come to an end in about 12 months from now, so getting ready to switch my investment type to bonds soon.
It's just over $500bln so about half of the Brazilian stock exchange. In comparison, the NYSE is 40x the size of all crypto.How much is the cumulative total investment in Bitcoin and other cryptocurrencies now? I think Bitcoin itself alone is about 290 billion. If this thing keeps on going and sucking in money, it might trigger a new recession when it pops. You know shit is getting crazy when your barber is offering you investment advice.
I might sell some of my stocks and move the money to a more defensive bond instead. This has bad omen written all over it.
When it does bust and people who have lost as much as they're willing to lose are swearing off crypto's forever I'll be buying bitcoins for $12. I probably won't even bother trying to sell off my crypto's during it, It's unlikely I'll be paying attention. I don't really plan on day trading the stuff.
Cryptos go up so fast they're like reverse bubbles that are bigger shifts than a bust that more than balance it out. Sure you can lose your shit in a day but it can also triple in a week, or multiply by 50 in a year. It's mental.
It also appears to be littered with morons trying to make millions in a year rather than basic simple techniques people use in the share market to minimalize risk while still retaining profit. Big plus for me
It just looks like a money printing machine at the moment if you're not greedy or stupid about it.
How much is the cumulative total investment in Bitcoin and other cryptocurrencies now? I think Bitcoin itself alone is about 290 billion. If this thing keeps on going and sucking in money, it might trigger a new recession when it pops. You know shit is getting crazy when your barber is offering you investment advice.
I might think about cryptocurrencies when a major correction occurs, until then I will stick with stocks. I also think the stock market bull run will come to an end in about 12 months from now, so getting ready to switch my investment type to bonds soon.
I think a lot of people are going to be in shock when blockchain technology becomes integrated into society. It's revolutionary but to niche markets thus reducing its potential disruption. The currency side absolutely will not have the same value as gold or existing paper currencies- it would mean one or both of the latter two would have to dramatically reduce in usefulness. There will be a handful of winners- most prominently being top crypto/blockchain minds.During the gold rush it was the people selling the land, shovels, picks, etc that got rich... With a few lucky gold miners. Everyone else went broke. Coinbase is selling the shovels in this scenario.
Does it not give you pause that it looks like a 'money printing machine'? Cryptocurrencies could well be the future of currency, but I'm not convinced it will be bitcoin.
One thing I'm wondering, is if/when the bubble pops it turn a lot of people off from cryptos for a long time.
I have been looking more into cryptos, ARK seems like an interesting concept, but damn the transfer fees are ridiculous. It's the exchanges that are getting rich off this frenzy.
I think a lot of people are going to be in shock when blockchain technology becomes integrated into society. It's revolutionary but to niche markets thus reducing its potential disruption. The currency side absolutely will not have the same value as gold or existing paper currencies- it would mean one or both of the latter two would have to dramatically reduce in usefulness. There will be a handful of winners- most prominently being top crypto/blockchain minds.
It really will depend on existing corporate power players and banks as well as what the masses choose to accept.
We had this bull market for so long that a major correction (30% to 40% drop in valuation) is overdue. Obviously I can't predict when the drop is going to be, but I tend to set target goals in my head when to switch up my investment types. When S&P 500 hits 2800, it's time to switch. Staying in longer runs the risk of getting burned.What makes you think it will in 12 months? I have a good amount invested in stocks, it's been a good few years, but you can't expect this bull market to last forever.
You've got to research research research. There is a bubble. The bubble is this massive amount of coins. However, some of these coins are going to succeed. It's not just going to be one.
Some questions you need to ask yourself when investing in an altcoin
1) Does this new coin fill a need that others don't?
1a) Is there high demand for that need/niche?
2) Who's behind the coin? The CEO, the devs, the marketing team.
3) What's their business strategy?
4) Where are they at in their development? Have they launched a working platform? Are they still in their conceptual phase with no product? Do they have a beta out?
5) What's the community consensus around "insert coin here"?
With your example of litecoin vs ripple, ripple is a crypto for financial instituions to provide instant liquidity between them with no fees. It's not really meant for retail consumers. Litecoin is a superior version of bitcoin in that it's designed for the individual user, is nearly instant and has low fees.
Power Ledger (POWR) is going to be a currency tied into the emerging smart energy power grid for buying, selling and trading renewable energy. Don't ask me how it works, I don't know. lol.
Substratum (SUB) is trying to build a decentralized internet where people that host their network get paid in SUB for the use of their computer's resources. People use the SUB coin for access to a decentralized internet that cannot be censored or controlled.
IOTA is the next evolution of block-chain in that it makes the block-chain obsolete and is not actually a block-chain. It is instant and has no fees. The developers are based in Berlin. The company wants IOTA to eventually be used as the currency for the internet of things.
Ethereum is a decentralized app building platform, with ether being the fuel used to power the network.
What I'm getting at here is these coins arent just made for the purpose of currency. They have different tech behind them and are seeking different market niches. Be wary of a new coin where its only goal is to be used as currency.
I buy my main coins and put dollars into the game via coinbase/gdax. I buy my alt coins on binance.Thanks again for that post. Do you recommend or prefer any good exchange websites? I'm torn between coinbase and kraken.
Cryptoclit.Is Bitchoin similar to PayPal?
Bonds are just such garbage. I don't understand the appeal. I'd rather just put that money into gold.
Gold is only slightly more useful than bitcoin.
Long term i don't see value. Yes honestly.