Latest posts of: Chuky92

This is just one of the things one need to understand about the crypto space, that is, after a long period of growth, there is always a time for correction, no one can predict it, it's just something that happens. Also, just like no one can actually know how long a green market will last, in the same way, no one can know how long a bloody market can be. In my own opinion, I think it's better to wait for a while, and even if one needs to buy I would strongly suggest major coins which have the higher potential of bouncing back as soon as the market is favourable again.

Quote from: Shaheer Arshad on July 31, 2020, 03:45:36 PM

what are the coins or tokens that you hold at the moment and explain why you choose that
hope this can help others in choosing what cryptocurrency is good for hold and has a bright future ☺️ .
personally I invest in XLM and XRP , is both coin are good as a long-term investment ?

As for me, it is Bitcoin, Ethereum, XLM, ADA. I don't go for all these hype coins nor all these Defi flying around, not that I can't invest in them, but I can't just hold them for long. Bitcoin is the best and has remained that way for a long time now, and it doesn't look like it's slowing down anytime soon. Ethereum team as well as the other coins, their team are each, doing their best to ensure what they offer to their users is the best of features and services. These few points and many others are the reason I choose them.

That is true, nowadays anyone listening to all these predictions will only be causing himself more harm than good. When the market goes green, so called experts will Pop up and start predicting hence drawing people and when the market goes against their predictions, they will remind those who followed their predictions the Importance of doing their own research. Therefore, in my own opinion, anyone who want to invest in any coin whatsoever should do so after proper research and not because someone says so, by so doing the person will learn more and become better when it comes to investing in new projects.

Quote from: Keeng Daveed on September 02, 2020, 03:36:20 PM

Let's slide apart a little bit. This is just based on personal choice. We can all tend to learn from it too though. In this business, we all aim for the cash rhy? Even if patience is highly required, but my silly question is, who gets more, if one decides to earn in just one of the following:
1. A moderator
2.An investor
3. Bounty Hunter
4. Wearing signature
5. Social Media.

An investor I would say. Investors are the deciding factors of every project, the more they invest the more the project progresses and the less they invest, the more the project struggles. Also, if the project is one with good idea and use case, investors rushes it because they know the reward they will get from such projects will be worth it. This is actually the reason why some projects IEO doesn't take time to end, while for some projects, their IEO takes days and different rounds as well for it to complete. So in all ramifications, an investor is the boss.

Although this is an old post but I still wish to add my own opinion. All these Corona virus coins are nothing but scams which were created to steal from unsuspecting and uninformed investors. Nowadays, no one is even talking much about the Corona virus which shows that people have moved on with their respective businesses and activities while taking into account all laid down regulations. Lastly, I remembered coming across some posts about how the creator of one these coins exited scam, which then confirms my stand on these coins being scams.
So yes, it was a joke, it was not really a hype and it died faster than it came.

Quote from: Think Crypto on September 03, 2020, 10:48:15 AM

It obvious that higher trading volum = more liquidity. liquidity refers to the ability of a coin to be converted into cash or other coins easily. Liquidity is important for any tradeable assets including cryptocurrencies.
Unfortunately, I have obversed that most coins listed this days on certain exchanges are without volume, that is, illiquid.
It is very clear that this situation was not common found before 2019.
What could be the reasons for this abnormalities. Your thoughts.

I would like to add that, first, higher trading volume happens when there are users or people coming into the project, when people do not see the need for any particular coin, whether the coin is listed on top exchanges or not, it will gradually have low trading volume and thus risks being delisted. However, one of the main factors I think contributes to low trading volume of a coin is when the coin is listed on bad exchanges which have no huge users. Also, for the coin to list on such bad exchanges shows the team are not really experienced enough to handle the project.

First and foremost, Yobit isn't a top exchange, I doubt if the same can be said about IDEX. However, Binance is a top exchange as well as others such as OKEx, Huobi and so on not Yobit.
Secondly, it is better to accept the fact that there is currently no coin which have the capability to beat Ethereum in whatever terms; major cryptocurrencies which has been around for years have not been able to achieve that feat let alone new cryptocurrencies of which majority of them can't be trusted. Thus, it's better to accept the fact that ETH isn't loosing that position anytime soon.

One thing about the crypto space is that, it is easy to predict about coins, it's future price, what will happen and so on, but when reality sets in, no one will remember those predictions again because everyone will then be after their own welfare and of course funds. All these predictions are somewhat good but with the way Defi projects are popping up, it might means that Defi might not last long, because attention that would have been given to the good ones are being shared by many others thus majority of investors are now seeing it as a means to make good money rather than for the use case they offers. Projects like Compound drew the massive attention but can same thing be said about other Defi projects now? Also, the prediction that many will challenge ETH looks far from happening, because ETH on its own is also looking for more ways to be better.

The best and simplest explanation I can offer is that, Ethereum is the blockchain while its coin or better still the coin of the Ethereum blockchain is represented by a ticker ETH. Just like Binance is represented by BNB, Stellar Lumens by XLM, Cardano by ADA, Bitcoin by BTC, hence i don't ever remember using Ether to mean ETH, neither have I seen people using it that way. So in every sense, each blockchain network or platform has a ticker which is used to represent the token or coin of the platform, and this ticker is ought to be unique so that there won't be confusion between two platforms.

I tend to have a different opinion, I think the cryptocurrencies we invest in can be whatever we make of it. That is, I can invest in a new project and decide to hold, that is what I want. Also, another person might invest in the same project and decide to stake it, that's what he want. In the same way, another person might invest in the same project and decide to trade it, that's also what he want. Thus, it can be seen that different people are having different strategic mindsets regarding a particular project. In addition, there are still people who will not only stake, or hold but also trade the token. Therefore, cryptocurrency is more than just holding.

Another Defi project, well what more can we say and/or expect when Defi hype is still very much around, and until the hype reduces considerably, we will keep seeing them coming up.
However, i am just coming across the project and although the article said a little about the project but I think there is more to ask the team to really understand why the crypto space needs another Defi project like this one. There are many Defi projects already, where some have unique ideas others have closely related ideas, hence soon the Defi space will be saturated.

On one hand new projects are good and on the other they aren't; that is, there are just few new projects which brings about new ideas, these are the ones making investing in new projects to worth it. On the other hand, majority of new projects are scam projects which are used as a means to defraud investors, these are also the ones bringing bad names to new projects. Therefore, what I think about new projects is, if you can carry out a good study on the project before investing, it would be good but if you do not know how to study a project, then stick to major coins like BTC in order to save and protect your funds.

You are right but however, my concern is on the "get rich quick" approach which has caused many people their funds as they ended up investing in bad projects which was filled with hype etc. Also, this get rich quick approach tends to blind the judgement of some people therefore making them not to actually study the project but instead they focus on the hype surrounding the project. On the other hand, most people nowadays follow influencers of various crypto projects thus listening and doing whatever they heard without proper analysis and research from their own angle.
In addition, all I can say is, so far someone fails to carryout research on the project he wants to invest in but goes about following hype, then he is likely to keep losing funds.

Every now and then one token or the other is or will be a biggest contender to Ethereum, we have been hearing this for a long time now and yet none has been able to beat Ethereum from that position, so it would be better we just stop the comparison and allow the projects prove their worths and capabilities. If Polkadot has what it takes, the right team and all that, let them keep developing and climbing the rank on coinmarketcap, it is actually a good thing as it will make other projects team serious. Lastly, we should remember Ethereum team aren't relenting either and that means they will keep working and maintaining their position. However, time will tell.

No matter how good a project is, no matter the team backing it up and working on it, predicting the future price of the coin is not possible; this is actually where most gets trapped because they tend to listen to what people are saying and hence holding when they are meant to sell. No doubt Avalanche is a good project but saying it will attain a particular price is what I can't do however it is likely possible to see good change in the price if really what is expected is worth it. Let's always remember that many predictions has failed in the crypto space thus being wise in investing is very important.

Quote from: Sulman326 on July 22, 2020, 08:28:21 PM

The governments can't control Bitcoin because it is decentralized. It wasn't made in favour of a centralized system where one person or authority can have full power and control over its transaction. The farthest the governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites.

Your first line of thought or statement is the perfect answer why government can't control Bitcoin; decentralization is the main reason which has lead to the high trust found in Bitcoin. But as for other altcoins, or maybe a good number of them, they can be easily controlled because even the team cares for themselves first. Also, although there many altcoins which claims to be decentralized, however it is important to know that only few are actually decentralized or somewhat decentralized, while others are just hiding under the claims of decentralization just to exist and keep working.

Quote from: tetuto on June 15, 2020, 11:18:08 PM

Crypto asset insurance is gaining momentum as a standard among a variety of businesses in the crypto asset space as of late 2019/2020. We definitely need more insurance policy implementations among the DeFi products/dApp. Feel free to add your options to the article, and all comments/edits are welcome!
https://defiwiki.org/wiki/Crypto_Asset_Insurance

Insurance of crypto assets? That sounds impossible to me because there are several reasons why it won't work. The first and biggest reason is that crypto is volatile or better still unpredictable, therefore with this high volatility, how then can an insurance company insure crypto assets? that means they will run at high losses. Another is, one of the good things about crypto is decentralization, having control over your assets, thus insuring your assets under a platform might end up exposing users to different types of manipulation, thefts etc. Hacking is also another reason to think of.