Cryptocurrency is an action fake, is it not?

[Sully1994]

I coulda bought a place in Dumbo before it was Dumbo
For like 2 million
That same building today is worth 25 million
Guess how I'm feelin'? Dumbo

Jay-Z rips side walkers and hip hop culture in general a major a**hole in Story of OJ. What a great track

 

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[Coalission]

FastLane business idea: An all-in-one kit that allows the average man on the street to create their own crypto currency without any knowledge of blockchain and crypto.

BOOM!

Few companies already doing/have done that.

 

[Ninjakid]

That's irrelevant. Network effect and social consensus are what give a specific coin value, not just the fact it exists.

Anyone can create a website nowadays, yet some are worth hundreds of millions, and most are worthless. You can even view the source code and create an exact copy of Facebook. Let me know when that makes you Mark Zuckerberg.

Bit

That's irrelevant. Network effect and social consensus are what give a specific coin value, not just the fact it exists.

Anyone can create a website nowadays, yet some are worth hundreds of millions, and most are worthless. You can even view the source code and create an exact copy of Facebook. Let me know when that makes you Mark Zuckerberg.

Websites are different because they've been around for over 20 years, and they're no longer a new thing that's exploding in value.

 

[mguerra]

Exactly, this is the reason I don't "invest" in Bitcoin. It's just a currency, and I have no idea how to determine value when it comes to a currency.

But, a lot of other crypto companies are more than just a currency. They are products that solve real world problems. It's the reason I like Ethereum -- I believe the concept of smart contracts will revolutionize how transactions are handled. It's the reason I like Ripple -- it allows banks to more efficient transact between themselves. It's the reason I like TenX -- it offers a real-world solution to utilizing crypto payments in every transaction. Etc...

When I evaluate a crypto investment, the first question I ask is, "How will this company potentially affect the world as we know it?" If I like the answer, my next question is, "Can the realistically achieve that?"

If the answer to the second question is Yes, I consider it a good investment. For the exact same reason that I would consider a traditional company (that publicly trades stock) a good investment.

Just my $.02...

Solid post. Rep ++

 

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[masterneme]

After checking my Blockfolio app for the 40th time, I realized I’m setiously wasting my time.

Crypto is an interesting market to speculate it. It can be a decent windfall if you day trade properly. But for most of us not investing significant money into crypto.


Stop reading crypto threads. Stop posting on reddit. Stop checking coinmarketcap and Blockfolio every 5 min to see if your Alt coins moved.

Crypto violates control like WOAH. There is nothing we can do to control the volatility of the market. If you’re not a hardcore day trader like @James Fend or @JScott, HODL and build your business.

I did the math, if 1 of my coins blows up to BTC market cap, I might get $50,000 for my $500 investment... in like, 3 or 4 years.

Or, I could put that time into my business and sell it in 5 years for 8 figures.

One outcome I have total control over, one I have zero control over.


So, I know we’re all excited about the shiny objects that are coins, but get back to work!



This thread is me yelling at myself. If you identify with this, get upset by this, take offense to this, get back to work!!!

Yes it is, unless you:

1) Become a miner. Then you transform what's basically gambling into a Fastlane venture honoring all the commandments.

The entry is very high because buying the equipment costs money and you need to be very knowledgeable about hardware and software.

You keep control because you can switch from one coin to another depending on which one gives you the best return, and even if every coin goes to hell you still can scrap money by selling your equipment or repurpose it for other things like GPU computing, for example getting paid for rendering time.

2) Create a company that just happens to use blockchain tech or cryptocurrencies as a backend and/or tool for your services.

3 (maybe) Launch your own crypto with enough social proof to make it profitable, AKA convince miners and fans to join the party and snowball it. For example there is no one stopping us to create a crypto called "Fastlane Cash", "Unscripted Monies", "DeMarcoin" or "FL Gold".

 

[mguerra]

For reference, I'm most certainly not a day trader. I probably make an average of one purchase per week and one sale per week. I don't think I traded a single coin in October or November. Typically, that one sale per week is to sell off some of that one purchase per week (pull out my initial investment)...with the rest going into long-term storage.

Now is a great time to be building a diversified portfolio of coins from companies that have the opportunity to change the world. If you're trying to make money on hype swings, this is a risky business, but if you're just building a longer-term portfolio (1-3 years), the opportunity for wealth is tremendous.

Thanks brother. I'm kinda on the same strategy. Using the smaller coins to profit higher % and switch to more solid coins like ADA, VeChain, etc...

In your opinion what are the best coins to look for in terms of long-term storage (1-3 years)? I'm seeing a lot of talk about ICX this week... I'm definetely keeping an eye of it

 

[EricFromCanada]

My portfolio is currently about 60% ICX, so I definitely agree with that pick...

Long-term, here are the coins I'm stocking up on: ETH, XRP, IOTA, PAY, ICX

What are your thoughts on ADA?

 

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[Scot]

What are your thoughts on ADA?

Considering I’m up 350% on it, I’m a fan haha

 

[GetShitDone]

I like it long-term...same utility as ICX, so they're in the same bucket. If I didn't have such a large investment in ICX, I'd buy ADA...

Short-term, I think ICX is better positioned, simply because they will have the Korean government behind them, but longer-term, I think they are both strong companies.'

I'm also very bullish on ICX.

I think investing in (the right) Alt Coins is better then investing in BTC for the superior returns.

Plenty of Alts coming that will change the world with Blockchain like ICX.

 

[ljb7]

@JScott Thoughts on iExec (RLC)? I feel like it's very undervalued right now.

 

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[ruzara5]

about the shiny objects that are coins, but get back to work!

At this point. It will potentially go through some boom and bust cycles. Like one of the statements in the crypto investing world that gets some rising acknowledgement. Cryptocurrency will continue. Could see at least 90% of the market disappear. Like the early .com biz structures in 2000. Blockchain is versatile. Cryptocurrencies will see some get shut out by bad schemes aka fraud or mismanagement, etc. Right on. Keep on working to a productacracy.