Crypto is not limited till buying Bitcoins, it is beyond this. - page 4.

Silberman

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Quote from: ccFOUND on August 25, 2021, 07:57:02 PM

We saw threads where discussions sparked about how will the poor take the advantage of crypto and all of them limit their thinking to what will happen if BTC skyrockets. There were lots of great answers, but we have a different approach here in this matter. Even if the poor believe that they have missed the BTC train, why don't they spread their vision and look around?

We have:
+ NFTs (we know about one user who sold an NFT for $60k that he won for free - a life changing experience)

+ DeFi tokens (liquidity pools, staking, farming are all giving huge returns for small investors)

+ P2E (Play 2 Earn is another way to make money by playing games online and getting tokens or NFTs as rewards, some games have different types of rewards)

There is a reason why many of these options are not considered and this is because we know that a great deal of the coins that we have in the market are either scams or projects that will never amount to anything, so basically if those that were poor invested in any of those projects with the intention of making money then they will fail miserably as most of those that have done so have failed in the past regardless of their economic position.

teosanru

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Quote from: ccFOUND on August 25, 2021, 07:57:02 PM

We saw threads where discussions sparked about how will the poor take the advantage of crypto and all of them limit their thinking to what will happen if BTC skyrockets. There were lots of great answers, but we have a different approach here in this matter. Even if the poor believe that they have missed the BTC train, why don't they spread their vision and look around?

We have:
+ NFTs (we know about one user who sold an NFT for $60k that he won for free - a life changing experience)

+ DeFi tokens (liquidity pools, staking, farming are all giving huge returns for small investors)

+ P2E (Play 2 Earn is another way to make money by playing games online and getting tokens or NFTs as rewards, some games have different types of rewards)

Actually, the problem is all this market has offered so far is speculation, NFTs are speculation, I am sure at least 50% of people will regret their decisions next year, Defi too have become more or less a tool for speculation, the impermanent loss during the bear run would be so high that a lot of people would actually regret staking at very high prices, while P2E token isn't something that is possible only due to blockchain, you can create such tokens without blockchain too without many hassles. But the main thing is utility tokens for example tokens like BAT, which are paving the way towards Web 3.0, KYC-based tokens are actually something that will give blockchain and cryptos a really good reputation.

maju69

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indeed, when viewed from an ideal perspective, everyone will feel left behind and immediately take a position to own Bitcoin as early as possible. But the fact is, that limited access will hinder what they want to have. Now there are various alternatives to get something of value, NFT, DeFi and something that can be taken advantage of.
The problem is whether they can be really serious about something that has a long process while without capital they can only trust big holders of Bitcoin holders and accept donations.

ccFOUND

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Quote from: TheUltraElite on August 26, 2021, 02:18:11 AM

<>

We FOUND your reply very interesting because the facts that you have shared were the same thing told to people about Bitcoins when BTC was evolving. Nobody believed in BTC and we used to adjoin Bitcoin's name with scam, ponzi, shitcoin, zero value token, no utility, a money laundering tool, etc. but we can see today that our perceptions towards crypto have changed a lot since we understood how effectively we need crypto as much as it needs us, which is why we tried a little bit to draw everyone's attention towards all the major aspects that make crypto "complete". May we have missed something, please try to add more genres so that our fellow learners may get aware about them.

Coyster

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Quote from: ccFOUND on August 25, 2021, 07:57:02 PM

We have:
+ NFTs (we know about one user who sold an NFT for $60k that he won for free - a life changing experience)

+ DeFi tokens (liquidity pools, staking, farming are all giving huge returns for small investors)

+ P2E (Play 2 Earn is another way to make money by playing games online and getting tokens or NFTs as rewards, some games have different types of rewards)

The thing about pump and dump/lottery coins and projects is that a few of it's investors would be lucky and prolly make a huge ROI when the coin pumps, I'm afraid it's the lucky few you have outlined here and then generally portrayed this projects as a success, when actually they are not. I know users who want to "get rich quick" tend to make the choice of going for projects like this, but if you want to invest in a project that is sustainable for the long period and would not just dump, making you lose your funds, then just invest in Bitcoin. Investing in pump and dump coins is very risky and it leaves you uncertain, one can categorically state that Bitcoin has a future because of it's real use case, but many of this other projects would not be here in a few years or even months, thus Bitcoin is more or less a worthy investment for the future.

BIT-BENDER

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Quote

We have:
+ NFTs (we know about one user who sold an NFT for $60k that he won for free - a life changing experience)

This is one user, he must have played an open contest, where millions also played as well, so I can say it's a luck, even now people who are sell there NFT has either something creative, talent-filled or something likeable to sell, am not going to discourage average to poor -Newbies- about crypto-currency, but to be honest why finding cheap riches, you either have it by your capital or you have a service you can use to make money from in crypto-currency.

Obito

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Quote from: Wexnident on August 26, 2021, 06:50:42 AM

And most either require a substantial investment or huge luck. Most P2E games are booming right now and I would say that newcomers would be very careful of what would happen if the devs suddenly rugpull. It's not impossible, especially with the craze happening around it. NFT's require a huge amount of luck ngl. It's not like every NFT you'd get would net you a thousand dollars or so, it's more like it's a chance, a lottery so to speak imo. There may be more factors but luck certainly can't be removed from them. I'd rather invest in Bitcoin if you're tight on cash tbh, it may take long, but it's probably the closest you'd get to a guaranteed profit.

As always, do your own research when you are you want to do something crypto related, remember that if it can make money, there will always be scammers out there that's looking to score from innocent people. P2E games are a good place to start when you are trying to get into crypto, there are some games that are totally free, you just need to find them but remember to do your own research.

semobo

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Before NFT and all those things there was an era of ICO but now they completely faded away which means those new projects are short lived and definitely not an opportunity for anyone to invest and expect the growth like bitcoin in the next 10 years, still BTC can be bought and the value will increase in the long term so always hold the bitcoin and say no to shitcoins.

Text

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I still have a greater belief in Bitcoin, which I would rather see that I hold more of it than altcoins. But there is nothing wrong with trying new emerging ones today that can make money in the crypto industry because like BTC, there are also people who make money here. We shouldn’t limit ourselves to discovering and studying new and current trends that provide great opportunities. When it comes to P2E, all I can say is, almost all of them still have to release the money to get started, but we should still not forget the risks involved because we know that the others are just carried away by the hype. So it's a good idea to study the ins and outs of the project or platform first so you always know what to do.

Wexnident

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I don't take loans, ask for sig if I ever do.

And most either require a substantial investment or huge luck. Most P2E games are booming right now and I would say that newcomers would be very careful of what would happen if the devs suddenly rugpull. It's not impossible, especially with the craze happening around it. NFT's require a huge amount of luck ngl. It's not like every NFT you'd get would net you a thousand dollars or so, it's more like it's a chance, a lottery so to speak imo. There may be more factors but luck certainly can't be removed from them. I'd rather invest in Bitcoin if you're tight on cash tbh, it may take long, but it's probably the closest you'd get to a guaranteed profit.

sunsilk

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For the P2E projects.

It's still unknown if they will be able to sustain what they're giving to their players. It's either as it has begun to become popular, those investors that got in early are always rewarded with the best returns.

But as its community becomes popular and keeps on growing, we'll see if they'll be able to sustain and reward all of their players.

Kong Hey Pakboy

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Quote from: ethereumhunter on August 26, 2021, 03:22:57 AM

If the poor can search for many ways how to earn free rewards from many new projects and he makes a lot of money, that will be life-changing for him and people around him will be curious and ask him how he can do that. But unfortunately, not many people are aware of crypto and the opportunity that they can get from crypto. We can not force them to follow us and we can only spread the news about crypto and let them decide. Only people who think shortly will limit himself and always think that they missed the BTC train. But people who have an open mind will trying to find out and if they can take part, they will try to get involve in BTC.

Easy to say this thing when you're not poor, not everyone has access to computers and the Internet it's difficult for them to find ways to make money. Their daily life is always aimed at survival so they don't have time to find another means to make money.

ethereumhunter

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If the poor can search for many ways how to earn free rewards from many new projects and he makes a lot of money, that will be life-changing for him and people around him will be curious and ask him how he can do that. But unfortunately, not many people are aware of crypto and the opportunity that they can get from crypto. We can not force them to follow us and we can only spread the news about crypto and let them decide. Only people who think shortly will limit himself and always think that they missed the BTC train. But people who have an open mind will trying to find out and if they can take part, they will try to get involve in BTC.

TheUltraElite

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Quote from: ccFOUND on August 25, 2021, 07:57:02 PM

We saw threads where discussions sparked about how will the poor take the advantage of crypto and all of them limit their thinking to what will happen if BTC skyrockets. There were lots of great answers, but we have a different approach here in this matter. Even if the poor believe that they have missed the BTC train, why don't they spread their vision and look around?

The poor people need better modes of living and earning a living before they can go for a luxury of life. Indeed, I consider an investment to be a luxury because it is not a basic amenity of life.

So now if you think that a person who is possibly a day wagerer and working most of the time, they would rather not afford a smartphone and internet but go with a feature phone and use less internet if possible and rather keep their money at the bank. Why would a not tech-savvy user attempt to put their precious money in something that is a "Grey area" in their country?

This basic idea does not seem to percolate into many users of this forum, which I frankly dont understand why.

Quote

+ NFTs (we know about one user who sold an NFT for $60k that he won for free - a life changing experience)

Poor people have lotteries for that. I see tickets being sold at bus stop everywhere and day wagerers buying those like candies.

Quote

+ DeFi tokens (liquidity pools, staking, farming are all giving huge returns for small investors)

Can you expect to explain DeFi and how it works to a person whose job is to prepare cups of tea for office goers?

Quote

+ P2E (Play 2 Earn is another way to make money by playing games online and getting tokens or NFTs as rewards, some games have different types of rewards)

A new craze that has started. Anybody remember "Faucets"? Sounds awfully similar and rebranded. Roll Eyes

Xinarae*

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I think buying bitcoin in crypto is not limited there is still a good chance that the price of bitcoin in the market is going up and the price of altcoin is going up so traders are making a lot of money by trading in currencies. The market must always know about the market in order to weigh the profits you have to learn the techniques of trading the crypto market is huge risk but it is easy to make money if you choose the right platform.

amishmanish

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Whether you are rich or poor, just keep >50% of your crypto net-worth in Bitcoin. You may miss some gains but compared to the downside risk, it is nothing. It is not new for these fads to crash just like they rise. Those NFTs people hold in their wallet will be worth a lot less when a bear market comes along.

As long as BTC is stable, everything is cool. When that changes, the "poor" get no clue that their favorite DeFi token or NFT is going to be worth zero. Just during this last fall, a lot of these DeFi farms, memecoins went to zero. They'll keep rising till you have mercenary capital rushing for gains. (Like the recent AVAX rush). The huge investors simply park money in stables. This encourages the noobs to start betting on all kind of coins. That is good for a while but if you don't time it well, you can easily lose all your networth.

So to be safe, always keep a significant part in Bitcoin. It is the sole truly decentralized money that no court or financial institution can deny in true faith and following natural justice. For everything else, whenever those questions start coming, the crashes will be quicker than you might expect.

Dave1

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Just like others have said, the huge risk involved as compare to buying bitcoin and then holding it for years.

Right now we have the Defi/NFT hype, but what happens if the hype suddenly die and dries up? Right, investors might have lose big money or re-invest on the next hype. So for others, it might be too complicated and include a lot of learning just to make money out of it.

Darker45

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Of course, I agree. To a poor, it doesn't hurt if he/she is to explore all possible options out there in the wide crypto market. Provided he/she has a lot of available time, he/she could explore NFTs.

DeFi tokens are an option but if it entails too high a risk, I'd rather not stake what little I have for it.

Play to earn games are an emerging trend in crypto. I acknowledge its useful role to play among those who want to grab the opportunity to earn. There's so much to discover in this particular area. There are those games which require initial capital but there are also those which do not. This trend is still at its earlier stage. A lot could actually gain from it.

mk4

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Quote from: ccFOUND on August 25, 2021, 07:57:02 PM

Even if the poor believe that they have missed the BTC train, why don't they spread their vision and look around?

If they knew this, they'd already be doing it. If they're not already doing it, then there's a good chance they're going to end up getting burned trying to pick which non-bitcoin asset they should buy simply due to them being new and inexperienced.

tl;dr it's simply better for most people to just stick with bitcoin

FairUser

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Another way of looking at the value that this field brings to life is balance. I see it if only poor people had access to crypto fields early, and they would have the opportunity to change their lives, but more precisely in the mindset that there is a barrier to access, because how will they approach ? Balance is possible, but it takes process and I think it's very unlikely without the elements that really change our lives and perceptions.

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