People tend to chase blockchains and technology. At some point, you have to chase people INSTEAD.
It does not matter if you are new or old to cryptocurrency.
You either chase blockchains (like most), or people (like few do)...
There are over 1,300+ cryptocurrencies on coinmarketcap.com
- Which one is the best?
- Which coin is more profitable to invest in?
- Which blockchain is going to the moon a month from now?
ANSWER: NONE OF THEM
- Ok, @intelliguy, what the heck are you trying to say now?
I'll tell you.
Blockchains by themselves are NOTHING
Technology by themselves are NOTHING
It is the people behind the scenes that are the make or break point towards every single coin.
NEW Question:
Why are there over 1300+ cryptocurrencies?
Answer: Because people don't learn who the people are behind them.
Want your own coin? Create one tomorrow morning. I guarantee you will have over 1,000 idiots mining it, promoting it, and talking about it without caring who you are a month or two from now.
(that's terrible that it works this way, but it does)
...that's why today we have over 1300 cryptocurrencies.
LONG-TERM LESSON GIVEN TO YOU FOR FREE
I really should charge for this lesson, but since you found my blog or are a follower, I'm going to give you some free and useful advice...
When investing in anything.... It should happen in these sequential steps:
Who created the coin, who maintains it. Why should they be trusted? What does their resume say?
Why is it needed? Do no other coins offer similar things?
Is this coin a good buy based on marketing alone? Is it a good buy based on the public freaking out, or is it going to last?
The purpose of this post is for everyone to remember STEP 1, which is the first thing forgotten most of the time.
- Let's look at that again: "Who created the coin, who maintains it. Why should they be trusted? What does their resume say?"
Pick your top favorite coins you hold. Ask yourself this question:
- "Who created the coin, who maintains it. Why should they be trusted? What does their resume say?"
- "Who created the coin, who maintains it. Why should they be trusted? What does their resume say?"
- "Who created the coin, who maintains it. Why should they be trusted? What does their resume say?"
DO YOU EVEN KNOW? Do you even care?
No... no one does. It is the PRICE that decides every coin.
At what point did people LOSE THEIR MINDS... being able to do proper decision making? When some coin on the charts goes to the moon does that automatically make it sustainable?
You are being played people. For short-term gains, by wise whales.
The whales can move and liquidate markets at will.
Most new investors to cryptocurrency are easy prey. You're begging to get your wallet emptied over the long term.
Most people are so excited by prices, they lose reason.
When there is a party going on, everyone just loves the fun. They enjoy the balloons, the drinks, the loud music, and the singing along to happy times forever.
Guess who is sober in that corner that isn't talking?
The manipulator whales who put on the party and wait for all of you to leave with empty wallets.
OK, @intelliguy, you just ruined the party. I was having fun until you said that...
You're right. I ruined the party only because I want to talk to those few who follow me, or know who I am. You're 1% of the 99% out there listening and instead of enjoying the party.
Lucky for you, I'll tell you.
What you see today is NOTHING what you're going to see in 5 years...
How do you know that?
I've been here for 5 years doing this....
Prove it!
- Feathercoin... was huge back in the day 5 years ago. Ever hear about feathercoin now? Who the heck knows what that even is? See Feathercoin Announce dated April 2013
See....
Ok @intelliguy -- feathercoin was never a popular coin.
Oh yes it was.... Go look at it November 30, 2013 -- people were crazy buying it.. It was competing for 5th spot vs Megacoin (which is also fairly dead now)
Now today, most of you are making the same mistakes. You might say:
"I'm invested in 5 of the top 25 cryptocurrencies"
You know what that makes you... a temporary idiot. You haven't spent the time or research to know which of any of those might last 5 years. What is popular today can be completely gone in 5 years.
Don't be a temporary idiot. The feathercoin holders will tell you the same.
Want the cryptocurrency industry to go from kindergarten to adulthood? Re-steem this post.
and after you've done all that hard research into your potential "ICOs" of choice, "hope" they didn't happen to safely and intelligently store all the capital they raised in, say, a Parity Multisig Wallet... I mean, at the end of the day, who woulda thunk it?! lol
Risks materialize from all sorts of angles, many of which most people haven't even started to consider... What was that I just heard about the centralized exchange where you're keeping your "coins"?!
This seems like a coded message. Please spell it out.
Are you referring to centralized exchanges (which I think you are) or the Bitshares DEX (which I think you are not)
We need to be verbose in this situation. :) (thanks Alex for stopping by)
yes good point, you are correct, I clarified my comment and added "centralized"! :)
Thank you. :)
I appreciate your humorous approach to a very somber topic. That being said, I think your most genius bit of advice is in the implication that one who hopes to profit should mimic the guy with the sour grapes approach to new cryptos. It will save a lot of time, and embarrassment if you just follow along with the most skeptical person who also has a presence in the crypto sphere. It’s a better bet than going all in on the latest celebrity endorsed token. This also gives a new Crypto enthusiasts a fast forward button in terms of education. “Sour grapes guy” already learned the lessons, and as a wise copy cat, it would be a pretty smooth piggy back ride. *This is not advice - just commentary. Oh, I will follow you for sure @intelliguy. Thanks for your hilarious, slightly condescending post. ⭐️⭐️⭐️⭐️⭐️🤣
I spend the time to write what I know, in a sharing way, that makes sense to most people. When people encourage it, it makes me want to keep it up.
Thanks for the validation.
I validate your acknowledgement of the validation. This could go on forever lol. 🔥⚡️ Definitely, do keep it up. More you = good reading. 🤓
PEOPLE!
Or people and blockchains... Good stuff as always and how your points will make people think.
Thank you for reminding me that I had Featehrcoin five years ago I never would have remembered otherwise.
When people ask me what blockchain they should buy or invest in sometimes I tell them to find the one(s) that are understood and can be used to add value to your life in some way along with others and that you may add value to along with everyone. Perhaps is this is because I have been already thinking that people are more important than blockchains. :)
Thanks @virtualgrowth. You're someone's opinion I really enjoy. To anyone reading this, @virtualgrowth is a nice guy, and smart. Check out his blog.
Most welcome and thank you!
So very true. Ppl who own a coin think they are an expert. And won’t listen to reason. They are blinded and fiercely cheer for there coin. And hang around other ppl with the the same views. Blind leading the blind. Uninformed leading the uninformed. This is the largest transfer of wealth from the uninformed and impatient to the informed and patient. It’s amazing how ppl believe any so called expert with crypto billionaire user name with a low rep and very little in there steem account. Sheep are to be slaughtered and lone wolves roam slowly getting into position. Some ppl were born to be prey.
I am here because of the people...Without those people none of this would matter at all, coins come and coins go but the dedicated people will stay the same...
You are right. Out of 50 developers, 10% are dedicated long term. That leaves us with 5. Pretty shocking!
upvote and following you. Thank you.
I resteemed it for you, followed you, as well as upvoted it for you. Great post my man!! Take care of me to when i need it :)
Thanks!
great post .. upvoted and resteemed