Asked by Anonymous
Asked on 26 Dec 2018
Any specific coins to look at? And how do you guys go about purchasing them?
Blockchain technology is here to stay.
Cryptocurrencies - may be.
The difference between cryptocurrencies and "digital currencies" is not much in terms of utilities, so why would facebook not want to use its own created digital currency than "ether" or bitcoin. It will always prefer its own created stuff.
Same for Amazon. Or JP Morgan. Or etc.
However, bitcoin and ether has its own value as an alternative store of value, a DAPP utility etc.
I put in money I can afford to lose in ether and bitcoin. Won't lose sleep if i lost all.
Will be happy if they rise to the previous highs.
I would think twice... It was dubbed as a tulip mania earlier this year, where prices skyrocketed.
I personally lost quite a bit (but unrealised) as did many of my tech friends (lol how ironic) as I believe that I only would invest what I was willing to lose (in such a crazy asset class). Less than 1% of my overall investment portfolio. So I just left it there for fun, see what happens.
Anyway, think of the real value of the 'currency' or investment. If you really believe in it, then put a little? If you are those who just ride on hype or FOMO, then just stay far away.
I personally believe in the idea of Decentralisation and ETH (pertaining to DApps) but maybe presently the market is weak and no more hype. But the real projects are being worked on. So I would take a 'wait-and-see' approach.
As you can see, crypto hasn't been doing well. The increase shortly after the fall is known as dead cat bounce (quite morbid) -- if you drop a dead cat, it will still bounce, however little. Subsequently there hasn't been any increase. It is much safer to go with 'traditional' investment medium rather than hoping on the bandwagon (marijuana stocks/etf, crypto, trending tech stocks...) where any increase in prices are mainly due to sudden interest. Personally, I would only enter the market only if I have sufficient degree of certainty in its outlook. Until then, I would refrain from cryto.
I think its more of a safe haven although it's purely speculative (at the moment).
If you want to catch the "next boom"/FOMO, why not just earn them? It's the newest way to obtain crypto nowadays. Don't need to buy them. I spent about 10 minutes doing paid surveys like the ones from OpinionWorld and was rewarded with crypto. Cheers!