What's wrong with this thinking process

Chikito

copper member

Activity: 2366

Merit: 2054

https://youtube.com/@chikitobitcointalk

Quote from: densuj on March 28, 2017, 07:28:05 PM

Quote from: Chikito on March 28, 2017, 10:22:41 AM

very difficult . if it happens you are very lucky, or you have an analysis that altcoin that you buy will go up 10,000%, but with some powerful analysis as considering the amount of coin and intake usd course also technology, road maps, and program altcoin used also greatly affected.

Yes and it needs time to analysis fundamental for search the the best altcoins in the future couples years, the problem on altcoins they are still new, so it makes difficult for prediction the altcoins relate growing of altcoins in the future it is depend on developer, comunity of altcoins and should the OP use analysis technical for make prediction of price then make short term investments with trading altcoins.

I agree with you, if only grounded in dreams and imagination course, better gamble. for gambling only has a risk of 50%, if the OP is a smart gamble. only 0.01 mbtc illusion could be 1 MBTC. as dogecoin who hopes to have the price of 1 $ percoin, better follow such ico,ico wetrust and some are good, and this time wetrust win blockchain oscar.

kryptqnick

legendary

Activity: 3332

Merit: 1404

Join the world-leading crypto sportsbook NOW!

Quote from: MarMoCoin on March 27, 2017, 06:27:07 PM

Quote from: wiwa on March 27, 2017, 06:04:18 PM

...why this thinking is extremely naïve and wrong?

This is.

You have a LOT of research ahead of you.

Yes, I think we can't really treat coins worth less than dollar as coins. They are very weak and unlikely to grow in price a lot. It is better to choose from the coins already growing and costing at least a few dollars. And all this is not a long-term investment anyway, so one has to be very attentive on the price changes if investing is worthless coins. You can still lose quite a lot of money out of imagining what big sums you can earn.

AusKipper

member

Activity: 98

Merit: 10

I did a bit more research into Eurocoin, on YoBit $100 would just about double the price (and therefore market cap)

Febo

legendary

Activity: 2744

Merit: 1288

Quote from: wiwa on March 28, 2017, 02:53:09 AM

Thanks. I did quite some research related to the development team behind the coin, the value propositions etc... For Ripple, it's currently trialed by a lot of major banks throughout the world. I know Ripple goes against the decentralized nature of other altcoins, but the fact the banks are testing it, is reason for me to believe there are plans with Ripple. Hence I invested some money into it. It's as good a guess as any other of course and I'm well aware of the risks associated to it.

Though as was mentioned before, I'm not taking any serious risks and if I lose the money, so be it. But I also dont want to miss out on an opportunity to get some real money. I lost the opportunity before with BTC Wink

In terms of money to lose, I'm living in a country where we get 0,1% interest on our saving accounts, we are losing money due to inflation. I might as well lose some on altcoins then (or take a risk and get some nice profit in couple of years).

You should research a bit more about Ripple. There is lots information on their website. One is that they are slowly pouring ripple. So far only 1/3 exist 2/3 to go. So I think price had not hit bottom yet.

AusKipper

member

Activity: 98

Merit: 10

Hi Wiwa,

I think you would be better off going to coinmarketcap.com, finding some really small market cap coin like on the second to fourth page, buy $100 worth, then run around in youtube comments and on here and in the exchanges and hype the heck out of it then sell it.

Your best bet for this at the moment is probably EuroCoin, its only got a total market cap of $4839 so just your $100 would probably spike the price a little, then you can run around saying "euro coins is going to overtake the euro its up 30% in the last 24hrs" and EuroCoin sounds a bit more legitimate than the coins below it.

There may be some morality issues though, if you have a conscience.

I think your original strat of putting $10 on a few different coins is kinda viable too, you only need one to go up 1000x and you will get all your money back, and tiny market cap coins do go up 1000x or more from time to time.

densuj

legendary

Activity: 910

Merit: 1000

Quote from: Chikito on March 28, 2017, 10:22:41 AM

very difficult . if it happens you are very lucky, or you have an analysis that altcoin that you buy will go up 10,000%, but with some powerful analysis as considering the amount of coin and intake usd course also technology, road maps, and program altcoin used also greatly affected.

Yes and it needs time to analysis fundamental for search the the best altcoins in the future couples years, the problem on altcoins they are still new, so it makes difficult for prediction the altcoins relate growing of altcoins in the future it is depend on developer, comunity of altcoins and should the OP use analysis technical for make prediction of price then make short term investments with trading altcoins.

thepo1m

hero member

Activity: 658

Merit: 500

I think you are missing the big picture here, how do we come about marketcap, Doge, NEM, Ripple, Bitshares all have token supply more than 1 billion coins in circulation but can you tell me any of these tokens is more valuable than Bitcoin, I guess your answer is no.

The market cap is derive by multipling the total token supply by the current price of a coin, because a price of a coin is low doesn't mean the marketcap is low

Chikito

copper member

Activity: 2366

Merit: 2054

https://youtube.com/@chikitobitcointalk

very difficult . if it happens you are very lucky, or you have an analysis that altcoin that you buy will go up 10,000%, but with some powerful analysis as considering the amount of coin and intake usd course also technology, road maps, and program altcoin used also greatly affected.

Ayers

legendary

Activity: 2856

Merit: 1024

DGbet.fun - Crypto Sportsbook

Quote from: wiwa on March 27, 2017, 06:04:18 PM

I'm planning on buying some coins that are <$1 on coinmarketcap.com. The reason is that they are very cheap, so getting a lot of them is not going to be too expensive. If a coin is $0,001, I could buy 10.000 which will cost me $10. If it goes up to let's say $1, I will have earned $10.000. The question is obviously how reasonable the chance it that it will reach $1, but looking at coinmarketcap.com, it seems 7 out of 10 coins are $1$+. If the coins fall in the top 10 in terms of MarketCap I consider them popular coins so there's quite some demand for them, hence one could reasonably assume there is a big chance it will once hit $1.

Obviously there are a lot of assumptions above, that's done on purpose as I can't help but believe these are fair assumptions. But seems like I'm alone out there otherwise it would be a get-rich-quick scheme.... Hence, can someone give me good (constructive) feedback on why this thinking is extremely naïve and wrong?

it's not that easy because the chance that those coins die is much higher than those coins reaching a greater value, because they are at that bad value for a reason, on the other hand some of them that are not nearly dead could have their value up 100x, but you must identify which one is worth the risk, see if they offer something useful and not just a pump and dump scheme

g___

sr. member

Activity: 273

Merit: 252

Quote from: wiwa on March 28, 2017, 01:52:42 AM

the altcoins I'm looking at are all respected in their own specific domain: Ripple, Golem etc....Dev's are good, just wondering why these two are still <$1, and the others in the top 10 marketcap are not.

i personally own ripple and golem. why? i believe in their vision, BUT realize they're both very speculative. depending on who you talk to, some say you're crazy to buy them, others will say you're crazy not to. at the low price, it's not necessarily an expensive investment... but it's high risk, high reward. in addition, i balance out my holdings by owning BTC, ETH, DCR (decred) - alt's i (and others) look at as a bit more stable. my approach is to stay diversified. i would not recommend buying ETH at current prices. buy on dips, and sell high. ETH could move higher, but i imagine it will take time and will most likely dip before doing so.

when you look at the marketcap, it's determined by shares outstanding = to share price. ripple and golem have a huge # of tokens compared to other alt's.

mining1

hero member

Activity: 532

Merit: 500

Quote from: wiwa on March 28, 2017, 01:52:42 AM

@MarMoCoin: That's the whole question. Proof me wrong with these assumptions. Cool

@g___: the altcoins I'm looking at are all respected in their own specific domain: Ripple, Golem etc....Dev's are good, just wondering why these two are still <$1, and the others in the top 10 marketcap are not.

First, do not buy XRP. Ripple is not XRP. Ripple is a private company who most likely released XRP as a play toy for speculators which will never be used by their company and their partners.

Second, don't look at per coin price. Market cap is much more important. Some projects, like bitcoin, have 21mil tokens, and projects like ripple have 38 billion tokens. See the difference ?

Third, you'd have to study them, to see what their potential is. Keep in mind that projects that aim to become currency don't have any chance of real succes. See bitcoin, after 8 years it's value depends on speculation, and most places that used to accept it, doesn't anymore, because of the low volume and the fact that people hold it for speculation purposes.

I suggest you to check ethereum, currently it is the only project that can become really big. One example ( there are many ), United Nations ended a pilot program and they want to expand it further, while using the public blockchain as implied by the second link

https://insight.wfp.org/what-is-blockchain-and-how-is-it-connected-to-fighting-hunger-7f1b42da9fe
https://www.reddit.com/r/ethtrader/comments/6144xe/ill_just_leave_this_here/dffpbf1/

wiwa

newbie

Activity: 10

Merit: 0

Thanks. I did quite some research related to the development team behind the coin, the value propositions etc... For Ripple, it's currently trialed by a lot of major banks throughout the world. I know Ripple goes against the decentralized nature of other altcoins, but the fact the banks are testing it, is reason for me to believe there are plans with Ripple. Hence I invested some money into it. It's as good a guess as any other of course and I'm well aware of the risks associated to it.

Though as was mentioned before, I'm not taking any serious risks and if I lose the money, so be it. But I also dont want to miss out on an opportunity to get some real money. I lost the opportunity before with BTC Wink

In terms of money to lose, I'm living in a country where we get 0,1% interest on our saving accounts, we are losing money due to inflation. I might as well lose some on altcoins then (or take a risk and get some nice profit in couple of years).

coynedterm

hero member

Activity: 882

Merit: 500

Quote from: wiwa on March 27, 2017, 06:04:18 PM

I'm planning on buying some coins that are <$1 on coinmarketcap.com. The reason is that they are very cheap, so getting a lot of them is not going to be too expensive. If a coin is $0,001, I could buy 10.000 which will cost me $10. If it goes up to let's say $1, I will have earned $10.000. The question is obviously how reasonable the chance it that it will reach $1, but looking at coinmarketcap.com, it seems 7 out of 10 coins are $1$+. If the coins fall in the top 10 in terms of MarketCap I consider them popular coins so there's quite some demand for them, hence one could reasonably assume there is a big chance it will once hit $1.

Obviously there are a lot of assumptions above, that's done on purpose as I can't help but believe these are fair assumptions. But seems like I'm alone out there otherwise it would be a get-rich-quick scheme.... Hence, can someone give me good (constructive) feedback on why this thinking is extremely naïve and wrong?

I think you need to make a big research in this thing .
Buy at any exchange or site and any altcoin with the low price but you need to be careful before the buy of the altcoin .
I will suggest you to buy those altcoins that are having good background history , I mean no doubtable thing for that .
And second thing make your eye attention on the stock of sell order because sometimes the small prices altcoins have big stock to sell like 5-6 BTC at very low price , so don't buy such altcoins or coins or any other things also .
Allover I don't found any mistake in your idea , sometimes I an using the same .

Red-Apple

hero member

Activity: 1470

Merit: 655

when a coin is worth $0.001 there are a lot of reasons fir that. it didn't happen by chance. for example one of the common reasons is that they have a big supply. when you as a miner get a big reward, you dump it on the market and after a while there will be a lot of units circuling in the market but there aren't enough people to buy them because who are we kidding there is no demand for altcoins. and they end up going lower and lower.

the pumps you see are temporary manipulation in the market that happen mostly on coins with high volume so that whales can make the most profit out of. and most coins with $0.001 don't have the volume, you can even buy it up to $1 with less than 1BTC in many cases.

i can't say if it is a bad idea or good. but i can say it is a gamble with seemingly good odds. since $10 is nothing to even think about but the profit can potentially be good but it may never happen at the same time either.

wiwa

newbie

Activity: 10

Merit: 0

@MarMoCoin: That's the whole question. Proof me wrong with these assumptions. Cool

@g___: the altcoins I'm looking at are all respected in their own specific domain: Ripple, Golem etc....Dev's are good, just wondering why these two are still <$1, and the others in the top 10 marketcap are not.

g___

sr. member

Activity: 273

Merit: 252

#1 - if something is too good to be true, it's usually not... HOWEVER, alt's are creating a new industry, and it's essentially just begun. remember, you're speculating on something like everyone else.

#2 - don't consider a coin's marketcap, as any new coin can issue whatever # they want, therefore being #1 by marketcap definition.

i would recommend looking at how active the dev's are with their respective projects (and any past projects they've worked on), their partnerships, and (very importantly), what problem are they trying to solve? there are many factors, definitely educate yourself about investing basics.

most importantly, never invest more than you're willing to lose. again, the world of alt's is very speculative.

best of luck.

MarMoCoin

member

Activity: 112

Merit: 10

Market Mover

Quote from: wiwa on March 27, 2017, 06:04:18 PM

...why this thinking is extremely naïve and wrong?

This is.

You have a LOT of research ahead of you.

wiwa

newbie

Activity: 10

Merit: 0

I'm planning on buying some coins that are <$1 on coinmarketcap.com. The reason is that they are very cheap, so getting a lot of them is not going to be too expensive. If a coin is $0,001, I could buy 10.000 which will cost me $10. If it goes up to let's say $1, I will have earned $10.000. The question is obviously how reasonable the chance it that it will reach $1, but looking at coinmarketcap.com, it seems 7 out of 10 coins are $1$+. If the coins fall in the top 10 in terms of MarketCap I consider them popular coins so there's quite some demand for them, hence one could reasonably assume there is a big chance it will once hit $1.

Obviously there are a lot of assumptions above, that's done on purpose as I can't help but believe these are fair assumptions. But seems like I'm alone out there otherwise it would be a get-rich-quick scheme.... Hence, can someone give me good (constructive) feedback on why this thinking is extremely naïve and wrong?

Topic: What's wrong with this thinking process (Read 990 times)