Topic: Help! 5 things I think I know about crypto. Are they all wrong? (Read 996 times)

And do you think Lisk is one of them?

Kiklo's answer is the best so far. In addition you need to decide what kind of investor you are.

1. Do you want to buy and hold, trade now and then, or spend all day trading?

2. Do you need to be able to pull your money out fast? If so you should stick to coins that have had a consistent high volume over time. Profit potential is often less in these than other coins unless you plan to be a very active trader.

3. Decide on risk profile. Higher risk mostly has higher potential profit. ICO's are perfect if you love high risk Otherwise stay away. They are often scams, but the successfull ones can be very rewarding. Bitcoin and Litecoin are at the other end of the scale. Relatively low risk, but also less potential for high roi. Personally I prefer undervalued coins in the lower half of top 100 http://coinmarketcap.com/1  They have often been around for a while so it's possible to see if they have a dedicated dev and a good community. You will also be able to see if they have delivered what they promised in the past. These coins can go sideways forever before they either crash or moon, so it's mostly for buy and hold strategies.

No matter what you do, don't trust people that tell you to buy a specific coin. They want you to buy so they can sell!
Do research. Read the ANN's. I tend to buy coins where the team and community discuss development in their thread, and stay away when they mostly discuss price.
Stay away from coins with anonymous devs. (There are a few exceptions to this, but for now stay away)

about the dao...

https://np.reddit.com/r/ethereum/comments/4p9z93/it_seems_attacker_just_targeted_the_whitehatdaos/d4j7ldn

two times hacked by the same person... i would stay way.

right now, i wouldnt put money in none of your options... eth and the DAO are almost dead. the only thing keeping them up is manipulation and if you want to buy some of these wait for the hard fork and see how the market reacts.

i dont know why some people like LTC... but indeed, it is stable so it's on you.

aanndd... bitcoin. this one is a good investment BUT the halving is in this week, we might see a little dump before the pump so stay close to buy the dip.

Any thoughts on The DAO?

Thanks again for all the discussion.

btw, today published a roadmap for LTC:
https://www.reddit.com/r/litecoin/comments/4r3dww/the_2016_litecoin_road_map/

It depends. I'm not sure if you remember, but Litecoin was pumped and dumped about a year ago. At one point it had more volume even than Bitcoin. It was a chinese scheme, which gathered like 8 million LTC (If I remember correctly), pumped it and then dumped like 7.5 million coins in 2-3 days. LTC is like 4.5 time cheaper vs. Bitcoin since then. I am also a fan of Litecoin, because of the Charlie Lee's policy, but it can collapse too.

To me, LTC is silver to BTC, which is gold!
They are simultaneously related and are not hyped like the other cryptos like monero, Lisk etc.

So far LTC is the most stable crypto of all times.
Observe how the other coins get collapsed soon after they reaches the maximum volatility.

Although I agree on your first 3 points, and it's basis is better than Bitcoin, it needs more users to go up in value. That hasn't happened for years, and I see no reason for Litecoin to become more popular all of a sudden.
It lost a lot of its value against Bitcoin recently.

Not at all, I could care less if he buys into it.

I am an initial investor, that I will not keep a secret.

Just suggesting some diversification options and if you have been around long enough you can see how steady NEM has been. Meaning if you invest now you most likely wont loose much if you decide to pull out. I also said "invest what you are willing to lose", he can invest $5 even 50 cents and it wont make a difference.

I can see a lot of people on BTC talk are salty because they ignored NEM for so long, it's ok. All had a chance when it was at 40 sats and still decided to ignore it.

It was definetely a pump. NEM was kinda silent until early March when it had over $0.5Mn volume. It's price is now tenfold since January this year. Much like Bitcoin did back in 2013.

Did you know Cryptography has nothing to do with smart contracts, ICO's, Block-Chains or even currencies ?

Google it

Lol wtf are you saying. It's up like 1000% versus BTC since early this year. Trying to get the next sucker to buy in at the top I guess...

As the best chess player here I am willing to affirm that Chesscoin looks like a horrible project. The ICO setup is among the most greedy I have seen, they have done nothing to demonstrate the technical competence to deliver what is promised and it is already trading on Yobit (during the ICO).

Stay away

To the OP, avoid all projects where the promoters frequently talk about potential rate of return. Focus on learning more about cryptography. Most alt coins are just clones with nothing but a different marketing angle meant to attract those without much knowledge.

Of the 5 coins you mentioned in the OP, BTC is my favorite and XRP is my least favorite. Don't trust me or anyone else posting in this thread. Conduct more research and avoid rash decisions.

Sometimes the best investment decision is to make no investment at all.

Thanks for all the replies, especially kiklo.

I intend on diversifying, but wasn't sure what kind of ratios to allocate. I think I'll give LTC the lions share, followed by BTC

All 5 things you have listed are dubious.

If you want to invest in crypto, you should realize that there is no one crypto that is best.

http://coinmarketcap.com
research top 20 coins, make own decision.
Proper safe diversification is buying into 5-10 coins. Less than 5 is not adequate diversification, more than 10 can be hard to follow and will spread your capital too thin.
5-10 is the right balance.

There are 5 very interesting coins among top 20 coins, and another 5 are pretty interesting.
Ripple is not interesting at all.

kiklo gave you the best advice so far. If I was you, I would invest them all in Litecoin. It's highly unlikely to lose (much) on this one, but the chance for profit is high. But you should be fast, becase of 2 things:
1. There is less than a week before the Bitcoin halvening, which may affect the price (positive or negative... who knows?) of the coin you decided to invest.
2. If Bitcoin's price goes higher after the halvening, Litecoin will follow for sure, and it can even rise in price much more than BTC.

If you, for example, double your money, then I think you could sell everything, withdraw half of your "investment" (or lets say 75% of your total worth in cryptocurrency (i.e. 3000 euro))?). After that you can try doing some tradings and see if this is for you.

That's just my opinion...

Ethereum , Ripple , & DAO are all 3 Hyped and manipulated by some players with access to enormous amounts of capital.
Real world use is pathetic in terms of adoption.
Could these manipulators pump these coins , sure they can and are, problem is you don't know when they are going to drop their markets either.
So only bet what you are willing to lose, and take some profits otherwise when they do pull the rug out, you will lose everything. 



Litecoin is faster costs less and is not hitting a transactions wall.
It should do better as time goes on irrelevant of what BTC does.



Hmm,
No not the best investment, LTC is a better investment.
Odds wise is it more likely LTC goes to $8  than BTC goes to $1400 .
Both double your money , the LTC is the more likely to happen.
Other Alts have the potential to give 100x or more return and still not even be worth a $1, but % wise you would make the same amount of money when converted to Fiat.

 

FYI:
For Alts with the 100x potential , look at Proof of Stake coins where you are your own miner.
PoW only coins aside from the BTC, LTC, & Doge will probably not have any lasting power as the increasing costs to keep their networks running causes their demise.

There are other people more wrong than you are. I think you could run with that. But never be too sure

Also: stay 5 yards away from ico-scams because they're most likely all rigged.

I would like to invite you to see the chesscoin thread,it's an ambitious project and probably one pf the project worth getting into,they are on the ICO mode and surprisingly traded already traded on Yobit,

The dev initially wants ask the Yobit team to accept them after the Ico but they readily accept it ..