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Bitcoin, Cryptocurrency, Blockchain, and You: Navigating the Future of Tech (a NeoGAF discussion thread)

ipukespiders

ipukespiders

Member
Just buy
StateofMajora said:
All right, i'm starting to feel pretty dumb for not buying crypto thus far. I kept avoiding it, shaking my head about how the world has gone insane BUT as long as it has, lol, I better start dabbling.

As far as I can see with my (very) casual viewing, it seems like anytime there's a new currency it rockets at least initially if it has a bit of hype on it... Have there been any duds? How do you guys know which new ones to avoid? I"m thinking of chucking a couple hundred at a new coin, just to start. None of it makes any sense to me, it just seems like a fad way to make money and burn tons of energy resources.
Click to expand...
Just buy ETH.
 
chromhound

chromhound

Gold Member
StateofMajora said:
All right, i'm starting to feel pretty dumb for not buying crypto thus far. I kept avoiding it, shaking my head about how the world has gone insane BUT as long as it has, lol, I better start dabbling.

As far as I can see with my (very) casual viewing, it seems like anytime there's a new currency it rockets at least initially if it has a bit of hype on it... Have there been any duds? How do you guys know which new ones to avoid? I"m thinking of chucking a couple hundred at a new coin, just to start. None of it makes any sense to me, it just seems like a fad way to make money and burn tons of energy resources.
Click to expand...
check out Kadena (KDA), Stacks (STX) or Nervos Network (CKB)
 
Bunker Hosted

Bunker Hosted

Member
StateofMajora said:
All right, i'm starting to feel pretty dumb for not buying crypto thus far. I kept avoiding it, shaking my head about how the world has gone insane BUT as long as it has, lol, I better start dabbling.

As far as I can see with my (very) casual viewing, it seems like anytime there's a new currency it rockets at least initially if it has a bit of hype on it... Have there been any duds? How do you guys know which new ones to avoid? I"m thinking of chucking a couple hundred at a new coin, just to start. None of it makes any sense to me, it just seems like a fad way to make money and burn tons of energy resources.
Click to expand...
My best advice would be to not try and catch these new coins; Unless you believe in it long term, sure it might go up 500% but it can/likely will crash HARD if its just pumping on dumb speculation. ESPECIALLY MEME COINS.

If you're just starting, try buying coins that are established; Bitcoin, ETH, BNB or something like these. Without fundamental knowledge of what these ecosystems are doing, it will be hard for you to even find these "new" coins that pump when released. Tons of coins are released daily and majority are absolute dog shit (especially all of these dog coins, no wonder people think crypto is a joke)

Also, if your a beginner, try and learn the value propositions of the top 10~ coins. Ask questions like, why is Ethereum valuable compared to Bitcoin? What does it do differently? Is it adding to Bitcoins value, or challenging it? What's the difference between BNB and Ethereum? Etc, etc.

Without this fundamental knowledge its tough to determine what coins are actually doing things, or are just marketing pump and dumps? (Majority of new coins are just that, marketing pump and dumps)
 
Irobot82

Irobot82

Member
Bunker Hosted said:
My best advice would be to not try and catch these new coins; Unless you believe in it long term, sure it might go up 500% but it can/likely will crash HARD if its just pumping on dumb speculation. ESPECIALLY MEME COINS.

If you're just starting, try buying coins that are established; Bitcoin, ETH, BNB or something like these. Without fundamental knowledge of what these ecosystems are doing, it will be hard for you to even find these "new" coins that pump when released. Tons of coins are released daily and majority are absolute dog shit (especially all of these dog coins, no wonder people think crypto is a joke)

Also, if your a beginner, try and learn the value propositions of the top 10~ coins. Ask questions like, why is Ethereum valuable compared to Bitcoin? What does it do differently? Is it adding to Bitcoins value, or challenging it? What's the difference between BNB and Ethereum? Etc, etc.

Without this fundamental knowledge its tough to determine what coins are actually doing things, or are just marketing pump and dumps? (Majority of new coins are just that, marketing pump and dumps)
Click to expand...
Great advice.

I would also say it depends on what your purpose is? Are you gambling in speculative assets for gains or are you trying to find a safe haven from rampant inflation?

Myself, I am currently just doing 75% BTC, 20$ ETH and 5% ADA. But I also own other alts that I've been holding since like 2017.
 
Bunker Hosted

Bunker Hosted

Member
Irobot82 said:
I would also say it depends on what your purpose is? Are you gambling in speculative assets for gains or are you trying to find a safe haven from rampant inflation?
Click to expand...
This is also a great point, if you're getting into crypto as a "get rich quick scheme" you will likely get burnt. Crypto is a patient persons game, find coins that you believe have long term value, start averaging in, and don't worry about short term movements because you believe in the coin long term.
 
Quixz

Quixz

Member
HoodWinked said:
had an interesting dream today, for some reason there was some kind of panic and hysteria. remembering having a feeling of dread and there was a digital counter which displayed the value of bitcoin. The counter was rapidly counting down as the value of cryptos were falling like a rock, then it went to zero.

LO1UCEL.gif
Click to expand...

So today is your fault! :messenger_pouting:
 
GeorgPrime

GeorgPrime

Banned
Floki is a beast lol

They said goodbye to MemeCoins and are turning into a DeFi ecosystem now with Chainlink.
 
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Ellery

Ellery

Member
God damn I sold 60% of my portfolio yesterday after the market went crazy and crypto was down 5%.

Looks like I was lucky and now is the question when to buy in again :pie_thinking:

However I think it looks like Crypto might not be a hedge against inflation/market correction etc. So maybe I will wait until at least monday or tuesday. I could start averaging down in small increments. One has to wonder the mechanics behind the entire crypto market moving in tandem. Seems like when bitcoin sneezes the entire market catches a cold. And bitcoin/eth is probably where the big whales are that make big moves.
 
Bernd Lauert

Bernd Lauert

Banned
ipukespiders said:
Thank you for your service. We need people like you as part of the cycle.
Click to expand...
Hey bro, how's it going? :messenger_smirking:

Just bought back in, and now I have roughly 20% more BTC than I had before selling back then. I feel like a genius.

Inb4 BTC drops to like 20k and stays there for five years.
 
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TheUsual

TheUsual

Gold Member
Will see how this ride continues but I went and bought $100 each of Ethereum, Algo, and Atom. All have been solid choices for me since I started and will continue with them.
 
GeorgPrime

GeorgPrime

Banned
Iam still waiting for the greatest Shitcoin in history "Bitcoin" to finally recover ;D but i only read about ETH surprising and Bitcoin disappointing.
 
T

Termite

Member
I tried buying crypto in 2015, 2017, and 2019. Was unsuccessful each time. Shame, as by 2018 I had 100k to invest and would have made a fortune that time. It's a source of real frustration.

I have no idea how this thing is supposed to function as a currency when it's so damn hard for so many of us to get our hands on.

Anyway, seems like I missed the boat on investing before institutional money poured in and I no longer believe in the utility of the tech or its appropriateness for daily life so I'm out.

And as for the inevitable question of why I was unable to purchase - money coming from the Caribbean isn't accepted by the exchanges due to anti-money laundering laws and there's no safe way to trade locally. There's no local uptake and if there was the threat of violence/scamming would be too great. I tried moving my money through the US, through Ireland - nothing worked. An eternal frustration. I ended up putting the money into property here.
 
S

SidViscous

Member
Just put £1000 into BTC, I know it's only £940 but I'm feeling pretty bullish and think this £880 could give returns by new-year if it returns to the 60k mark. Hard part is trying not to keep an eye on my £820, it's stupid as I could earn more than this £790 in the amount of time I watch the candlesticks.
 
Last edited by a moderator:
Irobot82

Irobot82

Member
MJackson said:
Just put £1000 into BTC, I know it's only £940 but I'm feeling pretty bullish and think this £880 could give returns by new-year if it returns to the 60k mark. Hard part is trying not to keep an eye on my £820, it's stupid as I could earn more than this £790 in the amount of time I watch the candlesticks.
Click to expand...
Have diamond hands. I was stacking at $14k and remember it dropping all the way down to like $3k.
 
HoodWinked

HoodWinked

Member
Everything red, except doge up 20%.

I had been measuring doge's strength on a relative basis against to Shib. Basically double doge then ignore the leading zeros on Shib

For example when doge was .16(doubled 34) then Shib would be around ~...34

Now it's .20 so it's pulling ahead a decent amount.
 
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