You are viewing a single comment's thread from:

RE: How easier to make exponential GAINS in Crypto within 5 years ?

in LeoFinance2 years ago

You need to be careful about extrapolating.

When I started in crypto there were only five coins: bitcoin, litecoin, devcoin, ixcoin and peercoin. I bought them all because I believed crypto was going to be huge and all the coins has unique features. Peercoin invented proof-of-stake. Devcoin rewarded writers and artists (much like Hive is trying to do now). Ixcoin and litecoin pioneered scrypt mining (as opposed to bitcoin's sha-256 mining).

They were all ground-breaking, but only bitcoin has made it. Litecoin has languished and the others are dead. I still have a wallet with 30 million Devcoins in it. In the bull run of 2013 they were worth 100 satoshis each and I foolishly hodled instead of selling.

It is not obvious which coins would do well in five years time. People didn't buy ETH in 2016, because they weren't sure it would break out. Back then exchanges like Coinbase and Kraken snobbily refused to list alts, so they were confined to exchanges like Cryptsy and Mintpal and Poloniex which crashed and burned. Even now coins are vulnerable to delisting.

Sort:  

Thank you for your valuable comment!

Smart money is just dumb money that’s been through a crash.

Our past mistakes can be valuable as gold as long as we learn from them.

I can see that you have learnt so much from your own crypto experiences. Same for me.

Exchanges played a huge role in the success of coins in the past!

Posted Using LeoFinance Beta