01-08-2018, 12:09 AM
Hey Spiral,
(Loving that you've read David Deida, that makes you an advanced man in my mind)
Start by reading this: https://www.reddit.com/r/CryptoCurrency/...rned_over/
As for coins; we're currently in a bull market. Everything is going up. Contrary to some previous wisdom, I just put $200 on a shit coin in the hopes that it moons so I can sell and re-invest in a coin that matters.
Same advice as that reddit veteran gives: Buy and hold in a good coin that solves a problem. That's my long term plan. Any profit I make from that shit coin I'm putting straight into Cardano. BTC is 1st gen, ETH is 2nd gen and Cardano is 3rd gen.
I'd point you here:
https://www.youtube.com/watch?v=Ja9D0kpksxw for a Cardano lecture as to what it does
and here https://www.youtube.com/watch?v=97ufCT6lQcY&t=676s
The second video is the same guy (Charles Hoskinson) who also created Ethereum. Key thing to notice about the second video is his message is the same as the first even thought its from 2014.
The significance of this is two fold:
1) you can see what his message and life work is "the future is decentralised". In both videos he addresses making a coin that can interact and untap all the money in the monetary system.
2) In a meta sort of way "we don't see the world as it is, we see it as we are". When he makes the statement that "the future is decentralised" you get a glimpse into his mind and what he's working on.
Bonus message: He picked Ripple back in 2014 as a big winner. If you do your research you'll see that only 2 coins (litecoin and bitcoin) survived from that period. Every other coin crashed. Coming back to that reddit article - 90% of coins will have a zero value, invest accordingly.
At the moment Cardano is only $1 but I'm confident it'll increase in value by the end of the year. The two forces driving the price are
1) hype (which is the same as most other coins)
2) it's utility.
If you look at a coin called DNT, you'll notice that it had a huge spike in August last year and then a huge crash. This was due to it being overly hyped ("shilled") everywhere. After the price spiked after the hype, when the inherent value was found to be far less than what it was hyped to be, it crashed.
Coming back to Cardano, currently it's got big expectations hence it's value but it hasn't got any utility as it's still in development. You can go onto their page to see the progress of each individual project. As these projects become complete, the inherent value in it's utility will start to be realised.
Which is why I expect Cardano not to increase as dramatically as some other coins will in the next few weeks BUT in the long term it'll go up.
If you synthesise what I've typed above you'll see that
1) it's important to invest in a coin which ultimately solves a problem. That's where the real value is at - it's inherent utility.
2) It's important to pick a coin which you understand and which you can rely on to grow in value over time. While the short term bursts of a few coins are tempting, picking a good coin and holding will make you money in the long term.
As for ETN I can see it going up to $1-$2 but very slowly.
Final takeaway: We're in a bull market right now but this won't last forever. Be wise and make good picks
Good luck!
(Loving that you've read David Deida, that makes you an advanced man in my mind)
Start by reading this: https://www.reddit.com/r/CryptoCurrency/...rned_over/
As for coins; we're currently in a bull market. Everything is going up. Contrary to some previous wisdom, I just put $200 on a shit coin in the hopes that it moons so I can sell and re-invest in a coin that matters.
Same advice as that reddit veteran gives: Buy and hold in a good coin that solves a problem. That's my long term plan. Any profit I make from that shit coin I'm putting straight into Cardano. BTC is 1st gen, ETH is 2nd gen and Cardano is 3rd gen.
I'd point you here:
https://www.youtube.com/watch?v=Ja9D0kpksxw for a Cardano lecture as to what it does
and here https://www.youtube.com/watch?v=97ufCT6lQcY&t=676s
The second video is the same guy (Charles Hoskinson) who also created Ethereum. Key thing to notice about the second video is his message is the same as the first even thought its from 2014.
The significance of this is two fold:
1) you can see what his message and life work is "the future is decentralised". In both videos he addresses making a coin that can interact and untap all the money in the monetary system.
2) In a meta sort of way "we don't see the world as it is, we see it as we are". When he makes the statement that "the future is decentralised" you get a glimpse into his mind and what he's working on.
Bonus message: He picked Ripple back in 2014 as a big winner. If you do your research you'll see that only 2 coins (litecoin and bitcoin) survived from that period. Every other coin crashed. Coming back to that reddit article - 90% of coins will have a zero value, invest accordingly.
At the moment Cardano is only $1 but I'm confident it'll increase in value by the end of the year. The two forces driving the price are
1) hype (which is the same as most other coins)
2) it's utility.
If you look at a coin called DNT, you'll notice that it had a huge spike in August last year and then a huge crash. This was due to it being overly hyped ("shilled") everywhere. After the price spiked after the hype, when the inherent value was found to be far less than what it was hyped to be, it crashed.
Coming back to Cardano, currently it's got big expectations hence it's value but it hasn't got any utility as it's still in development. You can go onto their page to see the progress of each individual project. As these projects become complete, the inherent value in it's utility will start to be realised.
Which is why I expect Cardano not to increase as dramatically as some other coins will in the next few weeks BUT in the long term it'll go up.
If you synthesise what I've typed above you'll see that
1) it's important to invest in a coin which ultimately solves a problem. That's where the real value is at - it's inherent utility.
2) It's important to pick a coin which you understand and which you can rely on to grow in value over time. While the short term bursts of a few coins are tempting, picking a good coin and holding will make you money in the long term.
As for ETN I can see it going up to $1-$2 but very slowly.
Final takeaway: We're in a bull market right now but this won't last forever. Be wise and make good picks
Good luck!
