I recently made some money through Amazon Kindle Direct Publishing, and I'm considering using it to purchase some Bitcoin. Only a tiny sum, roughly $800, is involved. What do you suggest doing right now? Purchase some Bitcoin or another cryptocurrency with a promising future.
What replacement coins would you recommend?
Of course, you can't build a large portfolio on $800. It depends on what goals you are pursuing with your investments. If you want to preserve the value of your money over time, then invest in bitcoin, and if you want to multiply capital, then altcoins. I might also suggest the option of investing simultaneously in bitcoin and altcoins if you plan to add investments in cryptocurrencies in the future. IMHO. |
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No matter how tempted you are to invest in a project always learn its tokenomics first.
Need to study not only tokenomics, but also founders, investors, roadmap, listings on exchanges, integration with other projects, community, social networks, and much more. Tokenomics itself gives only part of the information about a project, but does not allow you to fully assess its attractiveness, or vice versa. Therefore, projects should always be approached with a comprehensive assessment and research, rather than relying on a single factor or some scale. |
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No one knows this, but if Solana does not recover, then SOL is the first contender for the departure from the top 20. Also, it is not known how SHIB will behave, will large investors try to support it further, or will switch to some other meme coin. In my opinion, one should not expect any miracles from SHIB in the next market cycle.
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Cryptos have had many crazes all over the years. First, it was Bitcoin appearance.
right after that, there were the altcoins and soon after the ICOs, IPOs and all the O's thingy craze. Afterwards the PoS and stacking craze came to play and then smart contracts came around then the DAO Blow. Then the Cexes, the Dexes and right after that, we saw NFTs rise along with the metaverse. (I'm probably missing something). Now we just had the Merge.
Many of these phases have helped the crypto market achieve new highs and led the blockchain technology to go mainstream.
A lot of developments have been a part of the industry growth, so my question here is, what do you guys think will be the next craze in the industry?
WEB3, and its different variations. This sector of the industry is still poorly disclosed and appeared, in fact, only at the end of the last bull run. I think in the next 5-7 years this direction will grow very much and all major projects will interact with web3, and there will be attempts to integrate different layers, from 0 to 3, into the ecosystem of popular projects. |
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- When you stake, your holdings are locked up for a certain amount of time. You cannot trade or sell them before you unstake your holdings. So it might decrease your profits if the price plummets.
- Depending on how you stake, you might need to entrust your cryptos to exchanges. It might bring security risks.
I might add that staking is an extremely inefficient way to make money for small deposits. There is no point in depositing a couple thousand dollars into a staking in order to make a hundred dollars in a year, and that's in the best case scenario. People see this and try to find staking pools with high payout rates, but therein lies another catch. More often than not, such pools are fraudulent. |
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For the newbies, in order to not get scammed just think about this, if the promises of x5 or even higher or lower are legit and true, then they won't be asking for your hard-earned money since the big investors and financial institutions will be the ones pouring millions to billions of dollars. One of my current requirements in order to DYOR furthermore on new projects is if they are getting investments from Binane Labs, Kucoin, and other top crypto investors.
Some of these newbies already have an idea of these scams but they are blinded by the hope of becoming rich quickly and easily. In my country, I can see teachers, engineers, and other professionals still becoming a victim of these scams.
At the same time, having large investors does not mean that you do not invest in a pyramid scheme. Just think of investments in UST. They had a large fund that had tens of thousands of bitcoins and it turned out to be a scam because it offered high interest rates to its depositors, 20%. Such rates can only be sustained if the inflow of money into the system does not stop. Once it decreases, the pyramid collapses, even with large investors. |
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When trading or investing people need to always think about the risk to reward ratio, a risk reward ratio of 1:2 means you are willing to risk 1 dollar to win 2 dollars on a trade, if your system had an accuracy of 60% then this means that on average you will earn 0.8 dollars on average on each one of those trades for each dollar you were willing to put at risk, however the risk of investing in new coins is so high that it is simply not worth it and yet many people keep investing in them.
The risk of investing in new coins is justified when you invest among the first investors, rather than buying a token at the top of the market after you've added it to the exchange. If you invest in a new project at the price of early investors, you only lose money completely if the project dies completely and has zero liquidity. But if the project still manages to develop, you can expect a profit of thousands of percent. |
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Right now bounty programs are not that worth it since a lot of fake accounts join in and low rewards compare to years ago, Also many new projects end up scams when their bounty program ends so we got trash tokens from the project. For the last two years I have collected more than 150+ trash tokens. Well, since the bounty program only fills my spare time besides my real work then it's not a big deal.
I saw on the forum today that 120,000 fraudulent tokens have been issued this year. I wonder how many of them tried to advertise here on our forum? I think it's a sufficient number. The market has become very crowded with all sorts of garbage, and more often than not, such garbage is tried to advertise through the most accessible ways. The form of bounty that is common on this forum is just right for such cheap and quick distribution. |
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In fact, the next SHIBA INU can be absolutely any meme coin, and even this one. They don't differ from each other much and don't carry any technological peculiarities. It's all about hype and shilling. If someone decides that the shilling of this project can bring more profit to its creators, it will be promoted in various social networks and influencers, who receive payment, will talk about it with his audience. Without these actions, any meme coin, including this Robo, will remain a shitcoin nobody needs.
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There are only a few projects that really are worth it to invest, and most of them are doing an effort to provide the information and their future plan. But, sadly some of them are taking advantage of their investors and spending the funds on some underground business.
And that is why we need to invest what we can only afford on risk but still need to do DYOR or else, it's will just a loop that will happen and developers will scam investors all over again.
To prevent this from happening, developers are only given access to the collected investments in stages. As soon as investors see progress on the roadmap, they unlock a part of the fund to continue financing the project, thus preventing rug pulls and exit scams. Of course, such schemes are not implemented everywhere, but only where there is an active community and large investors. Projects without these two components are more likely to be scammed than others, so it is definitely not worth investing money in them. |
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The Dogecoin price seems incredibly bearish and if Elon Musk quits as the Twitter CEO, the token may be badly impacted. Earlier Coinpedia made dogecoin price prediction for the end of 2023, as $0.158. But with current news it wants us to rethink and ask – is doge coin dead?
It's a bear market right now, all coins are trading very poorly because there is little liquidity in the market. It doesn't matter if it's DOGE or Bitcoin. Musk stepping down as CEO changes absolutely nothing. If Musk becomes an ordinary Twitter user again, he can just as well publish his tweets, which will raise the price of DOGE, and he does not need to hold any position in the company for that. |
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This has long been of no value and the time spent will never pay off. All projects have long since moved beyond such bounties and moved to various services that support web3. All activity and promotion has long been concentrated there. I don't understand those people who in 2022 are looking for their 2016, hoping to go back in time and make money the same way it was fashionable in 2016 or 2017, spending hours of their lives to get 10 miserable dollars six months later.
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For the most part, such news is FUD, which generates panic and rash actions. People withdraw their funds because of the development of various speculations, which are not even close to the truth. In the news for some reason they focus on blocking USDC, but for some reason they do not specify that the blocking was in several networks, and other networks worked fine and there USDC could be withdrawn.
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⏺Новостной дайджест 16.12.2022
Не рекомендую постить новости, которые не касаются Relictum, так как за строчку без ссылки на источник у нас можно в бан улететь. Большое спасибо, исправим подход! Это одно из правил нашей локали? Если постить вместе с источниками, все ок будет? Эти правила относятся ко всему форуму. Постить новости, не касающиеся темы вашего топика - это называется оффтоп ( пункт2). Постить чужой текст без ссылки на источник - это плагиат ( пункт 33). Поэтому, даже если постить новости с ссылкой на источник, но которые не касаются вашего проекта, это будет считаться нарушением правил форума. Для справки: Для новостей, касающихся биткоина и криптовалют в целом есть у нас подраздел " Новости". Для новостей, касающихся альтов у нас есть топик " Новости по альтам, ICO, блокчейну...". |
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The collapse of a major crypto exchange, has once again taken the world by storm. There is a lot of FUD being spread by mainstream media, making people believe this is the final chapter for crypto/Blockchain tech. Now, US lawmakers are pushing towards stricter regulations with the excuse of helping protect investors' interests. Other countries could follow the US, greatly stifling the growth of the industry. I'm beginning to wonder whenever the collapse of FTX would be good or bad for crypto in the long run? This looks like another Mt. Gox situation, so it's likely things will be better in the long run after the dust settles. But I'm not so sure, especially when governments are now seeing crypto as a threat to the existence of Fiat (something they didn't think about when crypto was in its early years). What are your thoughts? Your input will be greatly appreciated. Thank you very much.  For the industry as a whole, this can be useful, because the more regulation, the less fraud, but for the ordinary speculator or crypto-user, this is bad. Regulators will collect more personal data, introduce various limits, and the market will be trying to recover from such events for a long time and will not grow. As a consequence, many projects, due to lack of liquidity, will just die. Care about investors? But at what cost? At the cost of more regulation and centralization of the crypto industry. |
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Dogecoin gained popularity due to its low cost as well as its welcoming community. Its community of users behind Dogecoin is involved on various social platforms, and it gained popularity specifically from Reddit.
Doge could fail because -
Dogecoin could fail in the near future due to its outdated blockchain technology. The Dogecoin blockchain is built on the Litecoin blockchain, which is based on Bitcoin's Blockchain.
One of the main issues with old blockchains is that they're not scalable. They are unable to manage large volumes of transactions without slowing down or mistakes.
Investors advice on investing in Dogecoin now as this is being the best time to purchase doge. Dogecoin prices are expected to rise as we approach the annual close. The increase in price fluctuations may eventually assist the price to soar and as per Coinpedia doge price prediction it will close the year at $0.118.
Are these cons going to result in dogecoin price failing or Elon Musk support for it make this coin price increase?
What? Because of outdated technology? Jesus, who cares what technology DOGE has anyway? It's just a meme coin that Elon Musk speculates on in his tweets. It's not some protocol or technological project that solves certain problems, it's the most ordinary speculative coin, whose value depends on the mood of a certain person. Most investors don't care what technology DOGE has, all that matters is how Musk promotes it. |
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This has been known since the creation of ponzi schemes. Any investment or some service that offers high interest rates is a scam. Otherwise how would it create so much profit for all users? Everything here is built on human greed, people see big numbers and run to make deposits, thinking they are smarter than those who invest at 2-4% per annum. But miracles don't happen, if you see an APY over 20%, then in all likelihood, it's a scam.
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None of the current crypto is safe except Bitcoin. As long as the crypto is still changing both in terms of supply, from the PoW system to PoS and so on, then the crypto is not safe. This means that there is still a possibility to do something outside of our instincts, or there is still a possibility to be stopped by the running system. Likewise with the current stable coins that we consider safe with a value equivalent to Fiat. If the addition of the supply continues and suddenly they buy up most of the Bitcoin with the stable coins they are developing, then the price of Bitcoin will increase and the stable coins will drop because the amount of supply exceeds the needs of the exchange.
And what category of people do you think bitcoin is safe for? If you say bitcoin is safe for everyone, that's not quite right. Bitcoin can be dangerous for short-term investors because it is volatile. Many investors consider bitcoin a risky asset. A risky asset cannot be safe. So it's worth rephrasing your definition. Bitcoin is more reliable than other altcoins. |
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With increasing regulatory pressure from mainstream governments, developers of DEXs would have no choice but to make KYC mandatory to prevent their project from being shut down for good. Once that happens, there would be virtually no difference between a decentralized and a centralized exchange. What makes a DEX unique is the ability to trade cryptocurrencies without revealing any personally-identifiable information. When you add KYC to a DEX, you'd be introducing a single point of failure (which is something crypto/Blockchain tech was meant to avoid in the first place). Crypto is heading towards a dark future after the Terra/LUNA and FTX collapse, so we should expect further centralization down the road. Just my opinion. I can also add what makes DEX unique. It's the ability to pay for a transfer and not get the service required. Many people don't want to mess with DEX because the hassle with smart contracts and their calling, which costs money, is sometimes discouraging. CEX is much easier for the average user who doesn't want to deal with all the smart contracts, bridges, blockchains, wallet connections and stuff like that. He just needs to quickly and conveniently exchange one currency for another without any slippage, without any fees for calling up a smart contract and cancelling the exchange due to incorrect or expired quotes. |
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