Who else have invested $20,000+ in altcoins

G.I. Bro

Member
If you are still holding you are insane. Bitcoin broke 6k- it's going down to 4300 and it's a free fall under that.

Alt coins will all die. The sec is cracking down on all of them- they were basically go fund me scams for shell companies who came up with a cool sounding idea and attached block chain to it... blockchain is amazing tech, but the coins have nothing to do with it. All these fake partnerships and shit are pure marketing propaganda- why the fuck would someone like American Express expose themselves and their customers to an unregulated cryptocurrency they have no control or oversight into when they could just create their own coin??

I still have an ether mining rig I built but invested 20k, it went to 50, dropped to 15 and I sold the bounce to 31k and I got the fuck out.

Been trading stock options and futures.... much, much safer and shorts have been paying well in these turbulent times. Crypto is simply in a vicious down trend for almost a year- and the only people holding are mining farms who dont want to drop the price and retail investors who dont want to realize the loss and are clinging to the hope it will fomo up to 20k and take all the other coins with it. Bitcoin will never die off- it's way too easy a method to transport massive amounts of currency anonymously- but it will never be mainstream due to a 4 transactions per second limitation and the volatility involved with it.
No love for Eth? I'm still holding some... About 50 and sold most btc. Sentimental, lol. BAT was my dark horse pick. Correctly predicted it was coming to coinbase before it was ever public or even speculated. Doesn't matter now because btc shitting the bed nuked entire market anyway.

Blockchain is the real deal but we're way early... Total crap shoot. These may not be around when it's mainstream in 10. Bitcoin is an unjustified king. It's a very basic store of value, that's it. Eth is an actual protocol/platform. Tech wise it makes zero sense why btc is #1 other than early entrant status and whales holding it. It was money I don't need but I watched it triple over 2017 then lose most value this year. Luckily it's a very small portion of overall portfolio.
 
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Mayne

Member
The token has nothing to do with the value of the company or the tech. How can you use a term like "accredited investor criteria" when you are talking about crypto? It's a pipe dream with no oversight... literally a GoFundMe for companies who wouldn't want to be subjected to the sec scrutiny of going public. Hold it for ten years but it will probably disappear first... or be worth a few satoshi you can wipe your fucking ass with.
I am unaware whether you understand token velocity or not, but a native token is the currency with which you are able to use a particular blockchain or dapp, in order for your holding to increase in value there must be a use case which comes with time only. Accredited investor is applicable criteria for citizens of the USA when it comes to investing in most ICO. The idea behind the comment I made is that if people don't understand why their investment would increase in value, given that a token is what it is and not an equity % or a dividend paying instrument you have good merit as to why there is a limitation to who is allowed to invest with their money when people don't understand the difference and mechanism through which there would be a positive return. Anyway I agree that most will be worth nothing but many will most likely be worth a lot.
 
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brutus79

Member
No love for Eth? I'm still holding some... About 50 and sold most btc. Sentimental, lol. BAT was my dark horse pick. Correctly predicted it was coming to coinbase before it was ever public or even speculated. Doesn't matter now because btc shitting the bed nuked entire market anyway.

Blockchain is the real deal but we're way early... Total crap shoot. These may not be around when it's mainstream in 10. Bitcoin is an unjustified king. It's a very basic store of value, that's it. Eth is an actual protocol/platform. Tech wise it makes zero sense why btc is #1 other than early entrant status and whales holding it. It was money I don't need but I watched it triple over 2017 then lose most value this year. Luckily it's a very small portion of overall portfolio.
I had about a 40 card ethereum mining server... I'm down to an 8 card that I turned off about two months ago. Between the difficulty bombs and dropping value it costs 4 times as much to mine as you get in coin... I like how it can be used for so many things but the decimation of the ico scene left me skeptical. I sold my mines coins at 1200 and just dumped the last 10 at 400. Sad.

Bitcoin I agree with you- worthless except the fact a drug lord can smuggle 10 million in a usb drive wedged in their prison wallet... I think a lot of agencies looking to do things anonymously use it too.
 

brutus79

Member
I am unaware whether you understand token velocity or not, but a native token is the currency with which you are able to use a particular blockchain or dapp, in order for your holding to increase in value there must be a use case which comes with time only. Accredited investor is applicable criteria for citizens of the USA when it comes to investing in most ICO. The idea behind the comment I made is that if people don't understand why their investment would increase in value, given that a token is what it is and not an equity % or a dividend paying instrument you have good merit as to why there is a limitation to who is allowed to invest with their money when people don't understand the difference and mechanism through which there would be a positive return. Anyway I agree that most will be worth nothing but many will most likely be worth a lot.
Many coins will be worth a lot? I used to think so... now I sincerely doubt it. Blockchain and even electronic stores of value do not need cryptocurrency. It is an invented necessity.
 

Mayne

Member
Many coins will be worth a lot? I used to think so... now I sincerely doubt it. Blockchain and even electronic stores of value do not need cryptocurrency. It is an invented necessity.
You underestimate the power of not needing a middle man (eliminating trust). Distributed ledgers are exactly what people hype them up to be, just plenty of the use cases are made up. When I write many I mean 1 in a 100 which will at a point in time be hundreds in total. People don't always necessarily know what they need. Pets.com is the prime example of a failed dotcom company 20 years ago and nowaday there is a 1b+ worth of an equivalent. Blockchain is extremely needed in voting and is already being used for presidential elections in underdeveloped highly corrupt countries, and if you think the developed aren't... There is a lot of improvement needed in many industries like tracking supply chain. The concept of an STO also is extremely innovative and will allow for much more inclusivity. What happened is people based everything on speculation, there are literally a handful of working products right now, it is early to even know which are failed concepts but in due time it will be known. Gaming, if you look back 20 years ago (I was actually in my teens back then and was a progamer) there was nobody who would have thought games will be giving away prizes in tens of millions a year... Encrypted communication I mean there are many known and most likely unknown use cases but well point being, technology is always going to prevail.
 

brutus79

Member
You underestimate the power of not needing a middle man (eliminating trust). Distributed ledgers are exactly what people hype them up to be, just plenty of the use cases are made up. When I write many I mean 1 in a 100 which will at a point in time be hundreds in total. People don't always necessarily know what they need. Pets.com is the prime example of a failed dotcom company 20 years ago and nowaday there is a 1b+ worth of an equivalent. Blockchain is extremely needed in voting and is already being used for presidential elections in underdeveloped highly corrupt countries, and if you think the developed aren't... There is a lot of improvement needed in many industries like tracking supply chain. The concept of an STO also is extremely innovative and will allow for much more inclusivity. What happened is people based everything on speculation, there are literally a handful of working products right now, it is early to even know which are failed concepts but in due time it will be known. Gaming, if you look back 20 years ago (I was actually in my teens back then and was a progamer) there was nobody who would have thought games will be giving away prizes in tens of millions a year... Encrypted communication I mean there are many known and most likely unknown use cases but well point being, technology is always going to prevail.
I am not disputing the use of blockchain... I am very much diluting the worth of all these coins to the underlying tech. I read mountains of this propaganda where poe with revolutionize this and nas will revolutionize that... but the coin just isnt necessary... I get what you believe in, but 100% of these coins from centralized bullshit like ripple to the elusive rdd video gaming coin are just a blockchain that can simply be dismantled by the creators, or forked into non existence- and I would argue that is why bitcoin retains some value- there doesnt seem to be a CEO who could take the money and run.... but there sure could be. Any company on earth would be retarded to back a coin when they could simply create one of their own and have oversight and security for their customers.
Whatever it may develop in to one day- and I agree it will- nothing we have the choice of now will prevail. It will be something that has not been invented yet. Hold any of this dogshit for 10 years and you will be one sad puppy if it was your whole portfolio. (I'm not saying it is. Just proving a point).
 

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