So. What alt-coins are you investing in?

Have something to say or share? Everything else comes here!
ParticuLarry
Heretic
417 | 38
Common Love Badge
Earned over 20 cookies
ADA and TRX had 17% and 8% gain yesterday. I already thought the bullrun begins, but we need to wait until Bitcoin hits over 12 k. Only then can we finally start the bullrun. And it's currently stillat 10600.

Yeah, I made my first purchase in XRP when it comes to crypto. I invested at 0,32 and it dropped down to 0,19. Worst investment I ever made. Afterwards I started reading more about crypto and realized that XRP is something you should just stay away from.

As for which coin: There are so many that it's hard to choose the right one. If everything goes wrong, just invest in Bitcoin. You may not have that big of a profit with bitcoin, but it's what leads the whole crypto market. Except maybe TRX and some cryptos whales put their money in. Spreading your investment over several different things is always smart.
ParticuLarry
Heretic
417 | 38
Common Love Badge
Earned over 20 cookies
I was invited to PI network. It's a crypto that you can mine with your phone, and you can only get in by being invited.

It works as follows: You offer some RAM of your phone to solve some formulas automatically in the background. You get 0,1 PI per hour if you're a "pioneer", another 0,1 per hour when after you finished 3 cycles (1 cycle lasts a day) and another 25% per active user you convinced to join. I already convinced 3 users, add to that the one that invited me, and we're already at 100% gain. It's my 2nd cycle today, so I didn't get the additional bonus. But 0,2 Pi per hour isn't bad either I guess.

As for how much it is worth: I have no idea. That's mainly because it's not in the main net yet. Supposedly they want to join the main net of crypto currencies within the next 12 months. And how the price then develops is to be seen. It could potentially be worth something in a couple of years. Or it could lose all value once it hits the main net and everyone starts selling.

Currently there are over 10 million users. And the next halving will come as soon as 100 million users are reached. And then 1 billion. Once it reaches 1 billion it looks like no more coins can be mined. But this all is pretty confusing anyway. But it could be that all mining is finished after they reach 100 million users, too. It's all pretty vague to be exact and nothing is set in stone. I just know that at some point there will be a phase 3, which is when they hit the main net.

But this all is confusing for another reason: The developers haven't decided on a cap yet! For example, Bitcoin has a set amount of coins that can be mined. After that, no more coins can be mined. And each coin has a different amount of max coins available. It is pretty suspicious imho. Bitcoin for example had that cap set right from the beginning, so people could already calculate themselves just how much a single bitcoin could potentially be worth if it used as normal currency some time in the future. And it's in the millions. Seeing just how many coins are mined every hour (let's take 0,3 x 10 million, that's 3 million coins per hour) is simply insane. I don't think it'll grow to big dimensions, but if the price can get to 1 $, that would still be great already. (0,3 x 24= 7,2 coins per day, 7,2 x 365 = 2628 coins mined per year, so that would already be over 2 k €) But well.. we can't calculate it because the cap has not been set yet.

That also means this probably isn't a decentralized coin, since the cap can still be changed. So this all reeks of suspicion to be straight honest. And the invite only thing looks very much like a pyramid scheme.

So to sum it all up:
Is it worth it? I have no idea.
Is it a scam? Maybe.
Do I care? No. That's mainly because my energy consumption of my phone has not skyrocketed or anything. I didn't notice any difference to be honest. And just clicking a single button a day at the same time isn't that much of a problem either. It could be that all of this is a huge scam. But even if that's true, I have not lost anything, because I have nothing at stake. So if I can make a couple of hundrets of euros that way in a couple of years... why not?
User avatar
ThomasGabriel
Imp
5 | 0
We are on a growing market but I warn you not to feel euphoric about all this situation. Have a look at such a notion as a bull trap https://libertex.com/blog/what-is-bull-trap-in-trading.
What do you think about such coins as Near, Atom and Ada?
Edited by ThomasGabriel 1 month.
ParticuLarry
Heretic
417 | 38
Common Love Badge
Earned over 20 cookies
Well, Ada can potentially reach 5 $, but due to the possible amount of coins it would need a market cap of the current bitcoin to reach it. So right now, ADA is a really good investment, especially since it contonues to receive updates.

I don't know the other coins, so I can't say much about it.
User avatar
Voodoo
Imp
5 | 0
ParticuLarry wrote:Well, Ada can potentially reach 5 $, but due to the possible amount of coins it would need a market cap of the current bitcoin to reach it. So right now, ADA is a really good investment, especially since it contonues to receive updates.

I don't know the other coins, so I can't say much about it. But if you want to stay in the know about what is going on on the crypto market I strongly recommend to have a look at this site.

What are your say top 5 coins and why? If it is not a secret of course :)
Edited by Voodoo 1 week.
ParticuLarry
Heretic
417 | 38
Common Love Badge
Earned over 20 cookies
Voodoo wrote:
ParticuLarry wrote:Well, Ada can potentially reach 5 $, but due to the possible amount of coins it would need a market cap of the current bitcoin to reach it. So right now, ADA is a really good investment, especially since it contonues to receive updates.

I don't know the other coins, so I can't say much about it.

What are your say top 5 coins and why? If it is not a secret of course :)


Disclaimer: I'm not a financial advisor. Right now I'm merely a gambler. It's always better to make your own analysis, which I don't know how to do, but plan on studying. You should only trust your own analysis.

Well, of course this isn't a secret. But it depends on how you define "best".

If you're thinking about how to make the most profit, get binance and try to find coins that look good for a pump and dump (that hedge funds invest in in order to get people to buy the coin, only to sell it high to them and thus dump the coin, so others are left with a useless coin, while hedge funds ripped greedy guys off their money). There are currently elongate and mooncoin that are pumped like crazy. They'll drop in price in the next couple of days/weeks though. This is only good for daytrading, to ride the wave if you're early but not a long-term success as those coins are usually worth nothing. And this would require you to keep up-to-date all the time. Like... literally.

If you're asking in what coins I would invest in: the same coins I invested most of my money in last year.

Those were:
ADA (which I took significant returns from) It gets constantly updated and brings the whole blockchain technology a step further. From all coins existing, I think it still has the best short to mid term potential. I bought my first position at 0,11 dollars. I sold most of it when it was at 0,65 dollar. Now it's worth 1,20 Dollar. It still has room to grow up until it reaches 5 dollar, where it will become significantly harder to expand, but still possible.

Miota (which I sold too early :( ) It's already in use in the energy sector. So it's pretty much guaranteed to stay for a long time. Imho it can only grow. I bought it back when it was 0,40 dollars, but then I shifted my portfolio in January and sold before its great price increase. I still made about 20% profit, but it could've been much more. It's worth 2 dollars now.

Bitcoin. I mean come on... it's the grandfather of the whole technology. It's pretty much guaranteeed to stay forever. You can already buy them via paypal as well. It's growth potential is still existing. It could reach 500k dollars per coin. It's currently at 50 k. I bought it at 18k and sold at around 36k.

XLM. Tbh, I just went with the flow since I wanted to get money from Bitcoin's halving, so I invested in some of the most popular coins without even checking them :D XLM is one of those coins. I bought it back at 0,18 dollars and sold it at 0,36. It's worth 0,5 dollar now. But I don't know much more about it tbh. Fans and other people online do speek positively of it though.

TRX. This is a coin I was adviced to buy, which is what I did. I bought it at 0,03 and over half a year it didn't increase much. I sold, again, too early and sold at 0,031. It's worth 0,129 now.

That being said.... I don't think investing in crypt NOW is a good idea. The bullrun caused by the last halving of bitcoin last year is almost finished. That also means that for about half a year after that bullrun is finished it will only drop slowly. Then it will "stabilize" at a lower price before the next halving happens, which again, causes a bullrun. Bitcoin is in most cases still the defining factor of crypto's in general. That means, if bitcoin drops, the general trend of the coins will also be negative. There are only few coins that can actually break that relationship to bitcoin, ADA for example.

In general I think you can only win in crypto trades with 2 strategies. 1) Investing shortly before the bitcoin halving happens. 2) Investing in coins that are about to have their halving.

That being said, rn I'm all in Gamestop. I don't trade cryptos anymore, at least until bitcoins next halving. Yesterday (monday) all cryptos went down by 6-20%. To me, it looks like hedge funds are taking out money in order to cover their short positions in Gamestop. So a short squeeze will probably happen, and as a result, a market crash will be almost guaranteed. Side note: From the biggest US stocks, gamestop was the only one that closed in green yesterday. So it really looks like hedge funds are taking out their money to cover their short positions.

So right now is not a good time to invest anything imho. At least until we know whether a short squeeze indeed happens or not. Because it could all be a fluke and I could lose all the money I put in gamestop. But well... as I said, right now I'm just a gambler.