Never invest in any cryptocurrencies! - page 12.

cristiano77

newbie

Activity: 18

Merit: 0

Quote from: mintme.com on July 21, 2020, 11:23:00 AM

I think most people approach crypto in the wrong way. With "get rich quick" approach.

If you come to crypto with such an attitude, you should never ever invest.

On the other hand, if you actually had to earn it while doing whatever you are usually doing anyway, that involves money?

Examples:
You get crypto as a token of gratitude after making donation to some project. (crowdfunding)
or
You are paid crypto as a bonus to your salary.
or
... (any other examples come to your mind?)

Wouldn't the whole cryptoworld be way more healthy? What do you think about it?

content creators would really love such way of funding, gamers, YouTubers they always like to add their names like on t shirts and using that for creating tokens to receive donations will be something good

but on the other hand I think that crypto have high risk and high risk means high profit and it is what makes you get rich Cheesy

so yes, it is still to "get rich quick" but can be used for good too.

mydona

newbie

Activity: 23

Merit: 0

Quote from: qiwoman2 on July 30, 2020, 10:18:05 AM

Cryptos can be a nice long term and also passive way of earning an income but we need to be realistic and look at CRYPTO as a way to grow and diversify our savings, as having now FIAT in the Bank only devalues and gets less and less useful as it goes down. I also think that there are some great projects that we can interact with and have great utility like TRAVALA for example which has ways for us to book our travel through CRYPTO and this is a huge use case for us all in the CRYPTOSPHERE. Demand for the token keeps growing as we lock up and earn rewards and discounts. Amazing stuff coming by tokenization of assets and business.

yes, it is more important to encourage such projects, tokenization and blockchain itself has a huge list of applications to be made to make very good use of this technology, Crowdfunding, Donations, supporting, traveling and e-commerce, moving money through countries too it is making a huge difference in transfer fees compared to fiat money.

BTC have no interesting applications, but it is just as gold between other metals and whenever it goes down you are 100% sure that it will rise again sooner or later.
altcoins are more based on the solution they provide and how helpful, new and complete it is, because a lot of companies kept making ICOs for projects that have no MVP yet just describing the project and getting funds

andycarrol

hero member

Activity: 1106

Merit: 502

Quote from: joinfree on July 29, 2020, 06:50:29 PM

It's a wrong idea that some folks treat cryptocurrencies as a get rich quick scheme and i don't blame either as people still have the idea that the days of 2017 and early 2018 will fall upon as one of these days. It will be best if you be frank with anybody you introduce cryptocurrencies to so that when market volatility goes really high they know that's how this game runs.

usually only new people who are not familiar with cryptocurrency well will be easily affected by the benefits provided very quickly, whereas in cryptocurrency price movements do not always increase in price, only at certain moments and only when there is good news prices can go up, you can see from the end of 2017 until 2019 the price is stable there is no significant price increase, it is a case where cryptocurrency cannot guarantee profit.

Mrchristo

newbie

Activity: 44

Merit: 0

Most people see cryptocurrency as a get rich quick scheme and that has lead them to fraudulent schemes and rippers. My journey into the space began with investment into HYIPS and ICO's, which promised a very high return but ended up carting away with my money. It feels really bad, but I've learnt my lessons and have been working on keeping my head down and being more careful in my investment choice.

nutriagrigia

sr. member

Activity: 1270

Merit: 254

Oikos.cash | Decentralized Finance on Tron

Quote from: bobyhodob on July 29, 2020, 06:44:33 PM

I think it's still safe to invest in cryptocurrency in the form of bitcoin or ethereum because so far I see only these two coins are suitable for long-term and safer investments because the price will always go up. while for other altcoins I'm not too interested.

I agree that Bitcoin is suitable for long-term investments, but I don't understand why you are so confident in Ethereum. the project team failed to solve any scalability problems

qiwoman2

legendary

Activity: 2114

Merit: 1023

Oikos.cash | Decentralized Finance on Tron

Cryptos can be a nice long term and also passive way of earning an income but we need to be realistic and look at CRYPTO as a way to grow and diversify our savings, as having now FIAT in the Bank only devalues and gets less and less useful as it goes down. I also think that there are some great projects that we can interact with and have great utility like TRAVALA for example which has ways for us to book our travel through CRYPTO and this is a huge use case for us all in the CRYPTOSPHERE. Demand for the token keeps growing as we lock up and earn rewards and discounts. Amazing stuff coming by tokenization of assets and business.

infocoino

newbie

Activity: 21

Merit: 0

Quote from: bobyhodob on July 29, 2020, 06:44:33 PM

I think it's still safe to invest in cryptocurrency in the form of bitcoin or ethereum because so far I see only these two coins are suitable for long-term and safer investments because the price will always go up. while for other altcoins I'm not too interested.

yes, both are performing as Gold, sometimes goes down even for couple of months but if you don't sell you will always have profit.
but some other coins are stable as well, at least not going to hide under top 50 over time like XRP, USDT, BCH, LTC and EOS

joinfree

sr. member

Activity: 1274

Merit: 260

1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

It's a wrong idea that some folks treat cryptocurrencies as a get rich quick scheme and i don't blame either as people still have the idea that the days of 2017 and early 2018 will fall upon as one of these days. It will be best if you be frank with anybody you introduce cryptocurrencies to so that when market volatility goes really high they know that's how this game runs.

bobyhodob

sr. member

Activity: 1162

Merit: 253

I think it's still safe to invest in cryptocurrency in the form of bitcoin or ethereum because so far I see only these two coins are suitable for long-term and safer investments because the price will always go up. while for other altcoins I'm not too interested.

mydona

newbie

Activity: 23

Merit: 0

Quote from: GarenCoiner on July 29, 2020, 08:21:24 AM

Quote from: jcpone on July 29, 2020, 01:53:40 AM

Yes, I agreed that majority of the community here in the forum are too lack of knowledge where in the end most of them always ended up into
loss of their assets. And sometimes because there are people here who are greedy, due to they want to earn fast without giving any effort of their investment. Even they know that there is no shortcut for us here to earn big in a short period of time.

yes some lack knowledge and some are greedy but that is how it is going in every other invenstment opportunity, there is always a greedy or with low experience and just heared about a trend and wants to ride the waves.

sooner or later if he gets even rich by luck if he doesn't stop this approch he will end up with the same low assets and maybe even without the low assests he started with.

I disagree with both of you, people normally know that risk = more profit, in crypto it is a bit high and in same time so beneficial, that is why people like investing in crypto, and if i am not investing to get rich why i would invest? getting rich is 1 good motivational reason for investing, but i like investing for helping creators, i get in return a better content. it is like win-win situation.

GarenCoiner

newbie

Activity: 21

Merit: 1

Quote from: jcpone on July 29, 2020, 01:53:40 AM

Yes, I agreed that majority of the community here in the forum are too lack of knowledge where in the end most of them always ended up into
loss of their assets. And sometimes because there are people here who are greedy, due to they want to earn fast without giving any effort of their investment. Even they know that there is no shortcut for us here to earn big in a short period of time.

yes some lack knowledge and some are greedy but that is how it is going in every other invenstment opportunity, there is always a greedy or with low experience and just heared about a trend and wants to ride the waves.

sooner or later if he gets even rich by luck if he doesn't stop this approch he will end up with the same low assets and maybe even without the low assests he started with.

jcpone

sr. member

Activity: 685

Merit: 250

Yes, I agreed that majority of the community here in the forum are too lack of knowledge where in the end most of them always ended up into
loss of their assets. And sometimes because there are people here who are greedy, due to they want to earn fast without giving any effort of their investment. Even they know that there is no shortcut for us here to earn big in a short period of time.

raidarksword

member

Activity: 2044

Merit: 16

Investing on cryptocurrencies are not financial advice and only for risk takers that has sense of patience hence it's not a quick money after all, more likely a long-term investments. People should understands the risk because crypto is volatile wherein you earn today but tomorrow you will end up losses, we never know what's gonna be. So, it's best to do your own research first before engaging on in this industry because regret will always be in the end. And importantly invest what you can afford to lose, it's better to put on extra money as first trial.

yhiaali3

legendary

Activity: 1848

Merit: 1982

Fully Regulated Crypto Casino

Most people who hear about Crypto for the first time are very excited about getting rich in a short time, but after a while they get disappointed. It's not easy to get rich with crypto. Of course there are some people who got rich through Crypto but that happened either by chance (an unexpected rise in the price of bitcoin for example) or that he invested a large amount of money and got great profits.
But on the other hand, there are much more opportunities to get profit and additional income through Crypto than working with real-time banknotes.

Poppy_ALTStrader

newbie

Activity: 44

Merit: 0

Quote from: Romeotom on July 28, 2020, 04:20:13 AM

I think the reason is to reinvest our profits and hold on to real capital so that we do not fall into any kind of zero account later. It is also important to understand that investing is very easy but it will be very difficult to overcome the loss. I always want to use the profits again for investment and it will always keep me risk free.

This is always a risk, ALWAYS, but we should take a chance to get a profit, I think

ufaiz50

hero member

Activity: 1666

Merit: 502

Quote from: mintme.com on July 21, 2020, 11:23:00 AM

...

Examples:
You get crypto as a token of gratitude after making donation to some project. (crowdfunding)
or
You are paid crypto as a bonus to your salary.
or
... (any other examples come to your mind?)

Wouldn't the whole cryptoworld be way more healthy? What do you think about it?

it all depends on one's principles and the bad thing is most investors are crazy about "getting rich quick" but don't understand what is in the crypto industry. What you are describing is indeed a healthy investment, but in investment we must emphasize that we make a profit. Your picture with the example of a donation is the same as giving your money without a return sign. An investment is an investment in which an investor must get what they are trying to invest so if you lose you get a loss, and if you profit you get a profit.

Romeotom

member

Activity: 821

Merit: 20

SOL.BIOKRIPT.COM

I think the reason is to reinvest our profits and hold on to real capital so that we do not fall into any kind of zero account later. It is also important to understand that investing is very easy but it will be very difficult to overcome the loss. I always want to use the profits again for investment and it will always keep me risk free.

Jannyh

copper member

Activity: 994

Merit: 4

You are right mate, with this type of mentality,that investor shouldn't even come close to cryptocurrency, because for you to succeed in crypto,you need all the patience you can get else you keep running at a loss,also to effectively make gains in crypto,it will be good to have an offline business or source of income that will help take your mind away from alway Checking your investment or wanting it to give fast gains.

GarenCoiner

newbie

Activity: 21

Merit: 1

Quote from: jajorforce on July 27, 2020, 06:59:21 PM

Actually new projects needs investment, why or for what you invested in cryptocurrency that'll be hard to find. By taking this side, I will suggesting to invest in cryptocurrency. After 1, 2 or more 10 years, you will sell your altcoins. Cryptocurrency can't stand on others donation. I don't like IEO investor, projects should be good but ultimately sell their coins during correction time.

some cryptocurrencies are made to receive funding for their projects, not all crypto is just for trading.

this part of crypto is interesting to investors less than coins made just for trading, because coins of trading can go very high or low for no reason (if someone buys a big bite of the market or sells it) cryptos made to support/fund projects have more stable steps but many shuts down in early stages because they don't get enough funding to continue

jajorforce

full member

Activity: 399

Merit: 100

Actually new projects needs investment, why or for what you invested in cryptocurrency that'll be hard to find. By taking this side, I will suggesting to invest in cryptocurrency. After 1, 2 or more 10 years, you will sell your altcoins. Cryptocurrency can't stand on others donation. I don't like IEO investor, projects should be good but ultimately sell their coins during correction time.

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