Newrad is right about Rule #1. That's the most important. So always do your own research and never listen to people from here who are trying to convince you about the "great investment potential" of coin X or Y.
Topic: How to decide what cryptocurrencies to invest in? - page 3. (Read 2149 times)
The altcoin you choose must have daily trade volume of 0.1btc, if less than that, it's a dead coin.
The altcoin must have a supply of less than 50 million coins.
And lastly, the altcoin must have a market capital below 10k $ or btc equivalent.
The altcoin must have a supply of less than 50 million coins.
And lastly, the altcoin must have a market capital below 10k $ or btc equivalent.
Nothing over six months old?
That seems silly.
Admittedly many scams are revealed as such long before they have been around six months, but at least if you wait until a coin has been around at least six months, preferably a few years, you will have a decent timeline to look at and over which to see how serious its community really is about making something of their coin.
One thing I would suggest is look what happened to scrypt coins: a stupid meme (DOGE) happened along and almost overnight conjured up more hashing power than litecoin, which had had years to establish a solid base of hashpower to secure itself. What happens if the next stupid meme to come along says "lets doublespend all the scrypt coins" instead of "lets make yet another scrypt scamcoin"?
Proof of Work is insanely expensive. Ultimately you need more than half of the world's hashpower to secure a Proof of Work blockchain. Even with merged mining I am not sure any of the merged mined SHA256 coins (other than Bitcoin, the parent with which they are merged as child chains) has more than half the world's SHA256 mining power securing it.
With Proof of Work blockchains that are NOT merged mined, ultimately you are not only trying to pay for enough miners to mine it but also paying them NOT to mine something/everything else. The more others they could instead be mining, the more chains you are financing an attack upon. So if there are, say, 100 scrypt coins that are not merged mined, and you choose to support a 101st such coin, you are paying to attack 100 chains in order to support that one chain. You are in effect 100 times as destructive / criminal / evil / undermining-of-the-crypto-field as you are constructive.
So if you have ethics and/or morals, hopefully that rules out all the Proof of Work coins that cannot be merged mined.
If on the other hand you were to invest in merged mined coins, you might actually manage to secure them, making them at least not wet paper bags with "steal my money" painted on them...
-MarkM-
That seems silly.
Admittedly many scams are revealed as such long before they have been around six months, but at least if you wait until a coin has been around at least six months, preferably a few years, you will have a decent timeline to look at and over which to see how serious its community really is about making something of their coin.
One thing I would suggest is look what happened to scrypt coins: a stupid meme (DOGE) happened along and almost overnight conjured up more hashing power than litecoin, which had had years to establish a solid base of hashpower to secure itself. What happens if the next stupid meme to come along says "lets doublespend all the scrypt coins" instead of "lets make yet another scrypt scamcoin"?
Proof of Work is insanely expensive. Ultimately you need more than half of the world's hashpower to secure a Proof of Work blockchain. Even with merged mining I am not sure any of the merged mined SHA256 coins (other than Bitcoin, the parent with which they are merged as child chains) has more than half the world's SHA256 mining power securing it.
With Proof of Work blockchains that are NOT merged mined, ultimately you are not only trying to pay for enough miners to mine it but also paying them NOT to mine something/everything else. The more others they could instead be mining, the more chains you are financing an attack upon. So if there are, say, 100 scrypt coins that are not merged mined, and you choose to support a 101st such coin, you are paying to attack 100 chains in order to support that one chain. You are in effect 100 times as destructive / criminal / evil / undermining-of-the-crypto-field as you are constructive.
So if you have ethics and/or morals, hopefully that rules out all the Proof of Work coins that cannot be merged mined.
If on the other hand you were to invest in merged mined coins, you might actually manage to secure them, making them at least not wet paper bags with "steal my money" painted on them...
-MarkM-
Community Support, Research research research, more research, look at chart to see how consistent price has been overtime, don't invest on anything that's newer than 6 months (most likely they're scam). If you have doubt about any crypto don't invest over 1% of your total investment, don't get greedy, you need to hold good crypto for at least few months before you see big jump in price so don't get nervous, don't believe anything anyone tell you use your own head.
Here are some crypto that already have good community, support, dev.
SDC
MCZ
LTC
DOGE
DRK
BTC
BAY
BLACK
START
Stellar
NXT
XMR (not sure about this one..it looks risky at this point)
CANN (it has hit rock bottom so most likely going to rise)
NAV (don't buy if it's over 1000 sat..good for short term)
ETC (don't buy if it's over 0.001 wait for it to dip.. it has potential)
just monitor the market and look at all time lowest and highest price it'll give you an idea of how good it is.
good luck
Here are some crypto that already have good community, support, dev.
SDC
MCZ
LTC
DOGE
DRK
BTC
BAY
BLACK
START
Stellar
NXT
XMR (not sure about this one..it looks risky at this point)
CANN (it has hit rock bottom so most likely going to rise)
NAV (don't buy if it's over 1000 sat..good for short term)
ETC (don't buy if it's over 0.001 wait for it to dip.. it has potential)
just monitor the market and look at all time lowest and highest price it'll give you an idea of how good it is.
good luck
Hi, I'm relatively new to cryptocurrencies and i want to start investing. I'm just wondering how to decide what currencies to invest in. There are so many its hard to decide. I currently own some: Dash coins, litecoins, shadow cash, ripple, and of course bitcoins. Is there any good methods of choosing currencies other than just identifying trends in charts or reading about them? Any other beginner advice?
https://data.archive.moe/board/tg/image/1389/39/1389391383491.gif
Rule #1 never take "investment" advice from bitcointalk forums. You're holding a bunch of shitcoin & scams.
Hi, I'm relatively new to cryptocurrencies and i want to start investing. I'm just wondering how to decide what currencies to invest in. There are so many its hard to decide. I currently own some: Dash coins, litecoins, shadow cash, ripple, and of course bitcoins. Is there any good methods of choosing currencies other than just identifying trends in charts or reading about them? Any other beginner advice?
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