Which coins should starters invest in?

@TreasureHunter -
Something like NEXO might be more up your alley if previous suggestions to you seem"dodgy and unreliable"
Exchange coins too you should look at due to their utility eg Binance...You need this coin to do tx via BSC network which is a big part in the developing defi system

 

My theory is, when all is said and done, BTC is going to be the only real store of value coin and as such is the one that is going to far exceed any others in terms of market cap.

I think that once BTC has achieved full market penetration then these other projects, such as ETH, will be better bets, at that time, as BTC will not have as much space to grow at that point. We are a fair way from that though, so I am mostly in BTC because, at this point in time, it has the most growth potential in my view.

Of course shitcoins will be shitcoins and many have much greater short-term volatility, but they go down significantly as well as up whereas I think Bitcoin's days of 70-80% or so drops are behind it. It's volatility is decreasing.

I have a few small positions in a few shitcoins that I think are interesting just in case the above theory doesn't go down exactly how I think.

 

Binance and Ethereum seem interesting, but I think the latter is already very expensive.

I am looking for utility (coins that are actually used for something, not just "speculative tokens"), but also for coins that have a lot of upside.


What do you think about Reddcoin?




Seems to be a social media coin, a token for tipping etc.:

"The developers are currently building a hub that will manage the various social media tipping accounts that will be created on Facebook, Instagram, YouTube, etc. The plan is to make Reddcoin into a hybrid of e-currency/crypto, reward points, etc. Basically, Reddcoin will be internet points with actual monetary value. Already, tipping has been enabled on Twitter, Twitch, and Justin.TV, as well as here on Reddit."

 

I think you're looking at the price of an individual token and thinking it's too expensive. Be careful of whole unit bias. Ethereum has the widest and longest history in terms of width of applications, bitcoin is the longest monetarily. Everything else is either built on those, or seeking to supplant those. Imagine someone was saying platinum will supplant gold because it's cheaper per ounce...

 

Of course.

Any thoughts on Reddcoin? Seems like an interesting idea. And a tremendous upward potential in price.

 

If anyone thought anything of it don't you think it would have been mentioned somewhere in the last 4 pages?


It looks more and more with each response you give that you are chasing penny stock cryptos (eg doge, reddcoin, Venezuela Petro) as opposed to ones with genuine utility.
Are you just looking for someone to give you a thumbs up for one of the shitcoins you keep bringing up?
A number of us have mentioned a few good coins with utility which you just seem to ignore.
Im with @dozerz at the moment and say I don't think we can help you, just set your money on fire.

 

Mean while cake has doubled since I mentioned it lol
I bet you didnt even look into it.

doge is rubbish, even those who are pumping it dont believe in that memecoin, its being pumped as a joke

 

So you say it "seems to be a social media coin, a token for tipping etc"

1 - When was the last time you tipped someone on social media? My guess is never.

2 - Can you name three people you personally know that have tipped someone on social media? two people? one?

3 - Based on Q1 & Q2 why would you think reddcoin shows any....let alone "tremendous" upward price potential?

I dont think you are applying much critical thinking to your "research"

 

nail meet head, hence why recommending anything here is a pointless excercise.

 

No skin in the doge game but I understand why its there (cheap, fast coin, not a legal security)

One the other hand the ADAs, DOTs and LINKs are more expensive, less efficient alternatives to using all the available ETH ERCs and smart contracts that exist on BTC/ETH.

 

it was from 0, later it will end up in 0

 

All ends up at 0. Shells, stones, beads didn't store their value. Metals is next in the cycle. Then paper currency.

Hopefully we're civilized enough at some point to transcend all stores of value. For now though nothing comes close to crypto for moving billions in perceived value at basically zero cost and counterparty risk.

 

Just remember guys, the shitcoin phase of the market is just that, a phase. It will end at some point.

It's very similar to the dotcom bubble in the 90's. At that point you had a lot of dotcom companies that people were getting all excited over and were going up in price whether they had any value or not. This was prior to the market maturing into what it is now. Before most people really knew what dotcom was going to look like in a commercial sense. That too was a casino in which you could hit it big. It was also a casino in which most people lost lots of money. More than 90% of dotcom stocks went to 0. Dotcom casino eventually ended.

Don't expect shitcoin casino to be around forever is all I'm saying.

 

dot gone bubble
now is impossibly too costly an arm and leg, talking about food here
the black hole is just too big, once the address you sent to is not there, bye bye WALL LET, going dark risk

 

By no means did I ignore any of the recommendations made here, but I'm still learning about how each one works.

I find Reddcoin fascinating, because it is ideal for tipping. It is said to have the Litecoin structure, but to me it seems like it's a "better Dogecoin".
Ideal for tipping, micropayments through social media. It has a developer team behind it, there is a concept regarding use (while Doge doesn't have that).

0.008 $ is the current price of Reddcoin and it has already been at around 0.02 $ (2 cents) during the first Bitcoin bubble.

Yes, the serious ones are Bitcoin and Ethereum. I believe they will survive for a lot longer.

 

With hindsight after about 5 years in crypto (not very long actually) I would just buy a small amount of btc and small amount of eth.

I wasted so much time reading truly stupid white papers when I could have been more productive outside crypto. Mega returns on stellar and raiblocks were off peanut amounts anyway.

 

I am finding it very difficult to understand how many of these are genuine (not scam) and some have complicated mechanisms. I also don't trust the exchanges.

Perhaps a true means of exchange doesn't need to be complicated. Bitcoin and Doge are very simple. Yet ETH has that sophistication and developers behind it. I can understand why it is holding the line and growing expensive.

There are countless coins invented for the sake of luring in investors and making a lot of money.
Some people invented their own coins to make a fortune out of promoting it - thus, they keep convincing everyone about why theirs indeed "has a future", "has potential" and so on.

But it is very difficult to understand which coin is "just a mere business".

Do you happen to know any phone apps linked to debit cards (such as Revolut: which only has around 2 dozen coins on its list), which allows you to buy coins?

 

Many coins are genuine but are ultimately solutions in search of a problem.

Most of the innovation ultimately ends up in btc or eth improvements. Problems that say bitcoin cash claimed to solve on bitcoin were not actually problems or were solved with segwit, lightning or liquid. Problems that say chainlink and polkadot claimed to solve were not actually problems (lot of folks seem to miss design nuance) or were or are in improvement updates.

Unless you have experience in IT and/or econ it's probably not a good idea to stray too far from the utility and profits underpinning bitcoin, ethereum and maybe binance.