Which Crypto do I invest in ?

[YetAnotherIndian]

I want to invest in crypto for a long term basis.

Any suggestions which would be better to invest in.

I'm considering cardano, eth and btc.

[SorryBella]

4 minutes ago, YetAnotherIndian said:

I want to invest in crypto for a long term basis.

Fundamentally bad idea. Cryptos are highly volatile and any events can trigger it and the market price can shift in the matter of minutes. Always short sell cryptos, and for what to buy always look around for proof-of-work cryptos that have a high trade outputs to ETH and BTC.

[Alexsheff93]

3 minutes ago, SorryClaire said:

Fundamentally bad idea. Cryptos are highly volatile and any events can trigger it and the market price can shift in the matter of minutes. Always short sell cryptos, and for what to buy always look around for proof-of-work cryptos that have a high trade outputs to ETH and BTC.

A great example on how fast the market can shift would be to look at Elon Musk. One tweet and he made bitcoin plummet and dogecoin rise massively within a couple hours

[Guest]

22 minutes ago, YetAnotherIndian said:

I want to invest in crypto for a long term basis.

Any suggestions which would be better to invest in.

I'm considering cardano, eth and btc.

Obviously you should invest in LinusCoin

[Kronoton]

Crypto isn't an investment, it doesn't generate any extra value

Crypto isn't a store of value, it goes up and down like crazy

 

Crypto can be a casino, you win if your lucky

Crypto can be a scam, you may get rich if your on the inside

 

Long term all crypto will drop (close) to 0, thats the nature of any hype without any real value attached to it

[WkdPaul]

* your thread was moved to the Folding@home, Boinc, and Coin Mining section *

[tikker]

5 hours ago, SorryClaire said:

Fundamentally bad idea. Cryptos are highly volatile and any events can trigger it and the market price can shift in the matter of minutes. Always short sell cryptos, and for what to buy always look around for proof-of-work cryptos that have a high trade outputs to ETH and BTC.

I find this is exactly what you shouldn't do. As you say the market changes by the minute. It's impossible to predict what will happen (unless e.g. a certain person tweets of if you're involved in pump&dump schemes), but on the long term (long term, months to years) it generally goes up from what we've seen. As the saying goes "time in the market beats trying to time the market". I've tried the minute timescale "buy low sell high" tactic. It's not worth it. At best you make a buck, the rest of the time you lose.

 

5 hours ago, Kronoton said:

Crypto isn't an investment, it doesn't generate any extra value

Crypto isn't a store of value, it goes up and down like crazy

 

Crypto can be a casino, you win if your lucky

Crypto can be a scam, you may get rich if your on the inside

 

Long term all crypto will drop (close) to 0, thats the nature of any hype without any real value attached to it

Investment: "an asset or item acquired with the goal of generating income or appreciation". Crypto ticks that box. It's a risky and speculative one, but it is an investment. Nobody's saying it's a store of value either. If you want store of value, you don't invest in something that can go up or down. Its volatility is also well known, scams are everywhere and luck goes for the stock market as well. You know this is a baseless statement and people have been saying from the beginning and has continously been false. The past doesn't guarantee the future, but this is still a bold claim.

 

5 hours ago, YetAnotherIndian said:

I want to invest in crypto for a long term basis.

Any suggestions which would be better to invest in.

I'm considering cardano, eth and btc.

Number 1: know what you are getting into and be aware of the risks. Don't invest what you can't afford to lose. This goes double for crypto due to its volatility. If you want to play it "safe", I would say go for BTC or ETH. For others, it's whatever you like. Read up on what the project does, how they tackle their associated problem and consider whether you think this can go somewhere. Also research its token supply, price per token and its market cap to give an idea of what value it could theoretically reach. Also be aware we have now just dropped down significantly again over the last few weeks and it's unclear if this marks the start of the bear market or if we will continue going up again soon.

[Kronoton]

1 hour ago, tikker said:

"an asset or item acquired with the goal of generating income or appreciation".

*shrug* I for sure could find another definition on the interwebs that excludes appreciation if it's only based on the hope that some time later another sucker will buy if for more based on the hope that he will in turn find one more even later....

 

Heck if a buy 10000$ worth of casino tokens in the hope of generating income at the blackjack table it would "tick that box".

[tikker]

7 minutes ago, Kronoton said:

on the hope that some time later another sucker will buy if for more based on the hope that he will in turn find one more even later....

That is how most investments work... If you invest in real estate, you buy that house hoping someone will pay more for it than you bought it for; if you invest in art, you buy that piece hoping someone else is willing to pay more for it. Even if you invest in stocks, aside from the dividends, you probably buy shares in the hope someone else will buy it off you for more later on. For someone to win, quite often someone else has to lose.

 

7 minutes ago, Kronoton said:

Heck if a buy 10000$ worth of casino tokens in the hope of generating income at the blackjack table it would "tick that box".

No it wouldn't, because $10000 worth of casino tokens is $10000 worth of casino tokens. Nothing more, nothing less. It won't increase nor decrease in value. Only if the casino decides to switch to new tokens it'll be worth $0 and that's it.

[Kronoton]

1 minute ago, tikker said:

If you invest in real estate, you buy that house hoping someone will pay more for it than you bought it for;

Erm no, that is a bonus, maybe just a hedge against inflation. The investment part is that I could rent out the house (or the rent I save by living in it) might be minuscule compared to the price going up but it is real income.

 

3 minutes ago, tikker said:

No it wouldn't, because $10000 worth of casino tokens is $10000 worth of casino tokens. Nothing more, nothing less. It won't increase nor decrease in value. Only if the casino decides to switch to new tokens it'll be worth $0 and that's it.

Yeah, and now what is crypto again?  The difference is that casino will be bound by law to pay me back the face value of how many tokens I hold when I leave while there is no such provision with crypto and you have to find another player to take them off you.

 

It is all just "you old timers don't understand how this new thing works" something I do remember all to well from the "new economy"/"dotcom" era and which is for sure what  I would have heard had I been a Dutch merchant in the 16th century.

[tikker]

8 minutes ago, Kronoton said:

Erm no, that is a bonus, maybe just a hedge against inflation. The investment part is that I could rent out the house (or the rent I save by living in it) might be minuscule compared to the price going up but it is real income.

Fair enough, but you'll typically still "over"charge tenants to ensure you have a net gain from owning and maintaining the property.

7 minutes ago, Kronoton said:

Yeah, and now what is crypto again?

Not a fixed value chip to throw on the blackjack table.

10 minutes ago, Kronoton said:

The difference is that casino will be bound by law to pay me back the face value of how many tokens I hold when I leave

Of course, because the chips are their own immutable currency with they key point being that the casino has decided that the red chip is worth $100. They are the only one controlling supply and are the only one setting the value. For the same reason $1 is worth $1, because the government is the one that controls supply and says $1 is worth $1.

 

18 minutes ago, Kronoton said:

while there is no such provision with crypto and you have to find another player to take them off you.

Because crypto is not a casino token produced and regulated by the casino. You don't go complain to the person you just bought a $5000 painting from that they won't buy that same painting back off you for $5000. Furthermore there's a market with supply and demand at work that isn't there for the casino chips.

 

Crypto wasn't really meant to be this investment thing. Bitcoin was an example of a trustless network where no single entity controls it. Now there are others as well that do a whole lot more and/or do it better. Some aim to be a day-to-day currency and conversely others serve a specific purpose to their own network and are not at all intended as currencies for people to buy pizza with.

 

One of the reasons I think it can be this investment thing at the moment, is because it's in its infancy. Any infant technology or application is always subject to volatility exactly  because it has not settled and nobody knows how it will evolve or where it will go. We all want 0 risk and 10000% gains, but those things are simply mutually exclusive. 0 risk means it's stable and probably a good store of value, however zero risk also means there is no room for any gain. Similarly something will only become stable once it is mature and accepted. Crypto is none of this. It's infant and unknown, and therefore high risk and volatile with room for big gains and even bigger losses.

 

22 minutes ago, Kronoton said:

It is all just "you old timers don't understand how this new thing works" something I do remember all to well from the "new economy"/"dotcom" era and which is for sure what  I would have heard had I been a Dutch merchant in the 16th century.

The dotcom was met with a quite some and to me similar resistance as well. I like to refer to David Bowie's interview with Paxman which illustrates the internet was seen as just a tool or outlet that wouldn't be of much use whereas Bowie foresaw the absolute craziness that it would bring. I'm not saying crypto and dotcom are 1:1 equivalents, but I do see striking similarities between how people behave.

[Kronoton]

3 minutes ago, tikker said:

The dotcom was met with a quite some and to me similar resistance as well.

 

"the dotcom" were 2 different things. Few companies that had an actual business plan and many many more who hadn't even the slightest clue how to turn their "idea" into a profit then or everafter.

But yet those companies were valued in the billions on the stock market.

Everyone pointing out that disconnect was told that he didn't understood the "new economy". Well it went on for a few years, crashed and those companies were valued at exactly the worth of their office equipment at the clearance auction.....

[tikker]

5 minutes ago, Kronoton said:

 

"the dotcom" were 2 different things. Few companies that had an actual business plan and many many more who hadn't even the slightest clue how to turn their "idea" into a profit then or everafter.

But yet those companies were valued in the billions on the stock market.

Everyone pointing out that disconnect was told that he didn't understood the "new economy". Well it went on for a few years, crashed and those companies were valued at exactly the worth of their office equipment at the clearance auction.....

Sure, and the same is happening in crypto. All the shitcoins not even worth wasting that 1 cent to obtain a billion of them on just tend to disappear lest there is an artificial pump going on. Big tanks in BTC value can be good for weeding those out. Things that have a clearer goal and purpose within the crypto sphere do well/better and are either relatively stable or generally stick around no matter what.