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no analyst not even Vitalik Buterin himself can accurately predict the price of Ethereum and because this so called analyst may have been right about this prediction doesn't necessarily mean he'll be right on the next prediction. It is worth nothing that these predictions are statustical guesses that still have a big element of uncertainty to it so it is best to not base your investment decisions over some prediction by an analyst.
The cryptocurrency market is very volatile and nothing is certain, so invest what you are willing to let go and dont put alk your eggs in one basket
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I personally prefer long term investments over short term trading of cryptocurrencies. Long term investments allows you to have more time to do your due dilligence and there is a less exposure to the emotional side of trading. Trading however is much more fast paced and if you dont have the required skills you can easily make big losses. Investing takes longer but is safer and that is why i like it
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Exchange coins are very valuable and most if them dont get enough attention because their prices dont pump as hard as a lot of other altcoins. However, the are a lot more stable investment than the more volatile coins. These type of exchange cryptocurrencies also have an utility and are already serving their purpose, so it makes a lot of sense that someone should have a good portion of their portfolio diversified into the exchange altcoins
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The fear of missing out can do great damage the cryptocurrency portfolio of anyone's who have the practice of buying cryptos when they are already pumping. When a coin is pumping, no one really knows when it will stop the price pump and begin to reverse. More often than not, you FOMO not because you see a small price increase, but because you see a big increase in price, so it is most likely that you're buying such token at a premium price and a dip will soon follow
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in the present bullish market landscape anything is possible, the price of BNB already ctossed the $500 threshold a while ago and the token has all the fundamentals to make the price go higher. First is binance being the top exchange in the market today and secondly, BSC binance smart chain is making big strides through its blockchain which provides fast transactions at a very low cost
For these reasons i have o doubt that BNB can be worth more than $1k
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Very good advice cryptobrzy. I would also add that patience is very important in crypto, but you should also carefully analyze the information and not rush into decisions. Also, every wrong decision can be corrected and every loss can be recovered. Members who have been in crypto since 2017 understand this very well. Just look at what happened to bitcoin after 2017  You are very right about this, patience is key i remember a couple of my friends invested in Sparkster in 2018 and were trying to convince me to do the same, i did not really understand the project so i just decided that i was going to buy it on exchange. In the end the project turn out to be a very poor one and they practically lost the money they invested. About losses, one thing i have learned so far is that you can never be too careful and sometimes your investments can turn out badly but that shouldnt discourage you from investing when other good opportunities arise. |
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This is a nice take on NFT. The way i see it, this concepts stems from tokenization of a particular asset through the blockchain... That is a certain asset that is unique can be tokenized and anyone who owns a portion of that token automatically has a stake in the asset in question.
The part that i dont seem to understand so far is what happens in the case of a theft of the particular asset or property, or does this tokenization limits itself to only a particular type of asset.
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i once read a piece on bitcoin lightning network when the cryptocurrency exchange that was available in my country made a blog post about adopting bitcoin lightning to make payments faster. i however didnt pay much attention to it afterward when he transaction and confirmation speeds were still slow as compared to when they hadnt adopted the technology. probably there was something that i did not fully understand.
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Cryptocurrencies are gaining a lot of popularity by the day and a lot of people are staring to get involved with the crypto space.
The Decentralized ecosystem is a very wide one with a lot of applications, proof of concepts and theoretical use cases for cryptocurrencies. While a lot of these potential use cases of cryptocurrencies may seem futuristic, there is one that is already a reality.
This is the use of cryptocurrencies as a means of monetary value exchange and store of value. This part of cryptocurrencies is what a lot of newbies are familiar with. So before you purchase your cryptocurrencies or download that exchange app that keeps popping up in your ads, here are a few things that i think you should know when investing in the cryptocurrency space.
I in my journey as a newbie have at one point or the other failed to realize some of these and paid dearly for it...
1. Cryptocurrency is Not a Get-Rich-Scheme
Most newbies get interested in the crypto market during a bullish market where everyone seems to be buying cryptocurrencies and making a lot of money, they tend to mistake cryptocurrencies for schemes that will miraculously make you rich out of nowhere.
This is a wrong approach to cryptocurrencies or any type of investments, because investments in their nature carries a significant amount of risk and you are just as likely to make money as you are to loose money, so choose your investments wisely
2. Store Your Coins Or Tokens in Private Wallets Not Exchanges
Most newbies make the mistakes of keeping their cryptocurrencies in exchange wallets and this is the wrong way to save your cryptos. There have been a lot of cases where cryptocurrency exchanges have been hacked and cryptocurrencies belonging to users have been stolen by the hackers.
I am not saying that this is going to happen to you or the exchange that you are using, but since it has happened repeatedly before, it can definitely happen again, so be sure to withdraw your cryptocurrencies to your personal wallets.
3. Price Direction Is Not Constant
The price direction of cryptocurrencies is never constant and in as much as there are bullish market conditions where the prices of most coins and tokens increases rapidly, there are also bearish market conditions when the prices of everything just dumps.
It is important for you to know this so that you can make more informed decisions when investing your money and also when deciding which money you want to invest into cryptocurrencies.
Back in early 2018, I once made a mistake of investing my rent into some altcoins, as it turned out i had bought these coins at the very top of the price pump. A price correction started not long after i invested in this altcoins and when the time to pay my rent was due and I sold off my holdings, i had lost close to half the USD value of what i invested at the time.
if i had been more realistic in my approach to investing with the knowledge that price can go up and also come back down, then i wouldnt have invested my rent and i would be able to hold my coins even in periods of drawdowns.
I hope this helps you on your journey in the cryptocurrency space
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I Came across a blog post from coinbase that addresses a 51% attack on the ETC (ethereum classic) blockchain between 5th -7th of this month showing chain reorganizations that includes double spends of around $1.1 million dollars.
Before that about $100k of vertcoin, $18 million of bitcoin gold, etc has been stolen in similar manner from different cryptocurrencies.
I am able to understand that this is due to the vulnerabilities in PoW consensus. It has also coincided with some calls for projects to switch to PoS
Here's are my questions:
1. How secure is PoS?
2. If its so secure why are most cryptos still running on PoW?
3. Does this mean that ETH blockchain is not as secure as it is said to be?
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Hello guys I am researching a project and it states that it is an Nep-5 token.
I am coming across this for the first time
Is this the same in any way with ERC-20 or what is the difference if there is one.
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Bounty hunters are seeing the need to safeguard themselves against this potential scammers by using reputable bounty platforms and managers as their access points into effective bounty hunting. Although this doesn't necessarily mean they can no longer get scammed but it considerably reduces the probability of getting scammed.
Bounty are not as profitable as they once used to be though.
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I sold off some of my XYO tokens about 2 weeks ago and now its almost double the price I sold it for I feel absolutely livid right now. Holding is a good thing however there are some coins I have held onto and they have dumped terribly so what do I do?
This crypto space is really confusing and no one is an expert on what to do And not.
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Cryptocurrencies is still directly linked to the various world economies and it is evident from the Chinese new year that happened earlier this year leading to a huge sell off in the crypto market holdings. However in the case of a global crisis people will need more fiat and it will likely cause a sell off of crypto assets.
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Signature bounty for newbies is not a very good idea because it will only increase the creation of multiple accounts to spam this forum with low quality posts weekly and thus making it harder for people who are genuine participants of bounty campaigns to earn less than their efforts merits.
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Buying at the bottom of the market is a really good move for altcoins because it means you will ride the wave of the bull run with an advantage over ICO investors and the traders who bought when the market was higher. This is the right time to buy altcoins.
Although you can wait for the market to go lower but I can see much lower movement below the 200 billion mark
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I have heard of cases where cryptocurrency is already getting taught in colleges in the United states and some countries in Europe. This is a great move.
I believe teaching crypto related courses and topics from the high school level will go a long way in helping people understand better this technology.
Cryptocurrency needs to evolve and become more of an household name like the internet and teaching can help.
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