Conclusions after Eth fiasco

[freshman777]

Broad diversification is key to success in investing.
Saving money in 2 coins or stocks can wipe half of your capital if one of the two goes south.
Put your dough in 5-10 coins, if one of them collapses you only lose 10-20% of your capital and can quick recover your losses. Read what professional investors do, they recommend investments spread over 10-20 ventures. Above 20 is difficult to keep track of. But 5 is a bare minimum, everyone can keep track of 5 coins and be insured against large unexpected hits.

In crypto broad diversification is picking coins with original code that are not Bitcoin clones. You diversify the software and the devs, programming languages.

[The Sceptical Chymist]

Broad diversification is key to success in investing.
Saving money in 2 coins or stocks can wipe half of your capital if one of the two goes south.
Put your dough in 5-10 coins, if one of them collapses you only lose 10-20% of your capital and can quick recover your losses. Read what professional investors do, they recommend investments spread over 10-20 ventures. Above 20 is difficult to keep track of. But 5 is a bare minimum, everyone can keep track of 5 coins and be insured against large unexpected hits.

Keeping track of 20 investments isn't hard.  If you find it hard, then maybe a buy-and-forget strategy would be best for you.  Altcoins are super risky.   I wouldn't keep any significant amount of money in them.  Or bitcoin either, really.  Hopefully you don't have all ypur money in crypto.

[tmzn32]

Broad diversification is key to success in investing.
Saving money in 2 coins or stocks can wipe half of your capital if one of the two goes south.
Put your dough in 5-10 coins, if one of them collapses you only lose 10-20% of your capital and can quick recover your losses. Read what professional investors do, they recommend investments spread over 10-20 ventures. Above 20 is difficult to keep track of. But 5 is a bare minimum, everyone can keep track of 5 coins and be insured against large unexpected hits.

In crypto broad diversification is picking coins with original code that are not Bitcoin clones. You diversify the software and the devs, programming languages.

You're saying "conclusions after eth fiasco" like it's over? haha

[jjacob]

Broad diversification is key to success in investing.
Saving money in 2 coins or stocks can wipe half of your capital if one of the two goes south.
Put your dough in 5-10 coins, if one of them collapses you only lose 10-20% of your capital and can quick recover your losses. Read what professional investors do, they recommend investments spread over 10-20 ventures. Above 20 is difficult to keep track of. But 5 is a bare minimum, everyone can keep track of 5 coins and be insured against large unexpected hits.

In crypto broad diversification is picking coins with original code that are not Bitcoin clones. You diversify the software and the devs, programming languages.

To add to that, I would say that the majority of your portfolio should be in bitcoin. Alts can be used to give you that extra profit, but you shouldn't bet your house on alts.

[ATA Group]

Everything coin like is a very high risk investment.
I am always expecting that I won't see a single penny I invested in all of this.

I don't hold BTC, I am here for a good profit or total lose.

[freshman777]

Broad diversification is key to success in investing.
Saving money in 2 coins or stocks can wipe half of your capital if one of the two goes south.
Put your dough in 5-10 coins, if one of them collapses you only lose 10-20% of your capital and can quick recover your losses. Read what professional investors do, they recommend investments spread over 10-20 ventures. Above 20 is difficult to keep track of. But 5 is a bare minimum, everyone can keep track of 5 coins and be insured against large unexpected hits.

Keeping track of 20 investments isn't hard.  If you find it hard, then maybe a buy-and-forget strategy would be best for you.  Altcoins are super risky.   I wouldn't keep any significant amount of money in them.  Or bitcoin either, really.  Hopefully you don't have all ypur money in crypto.

If it's not hard for you to keep track of 20 investments, feel free to do it. For me, the best I can follow is 10. My point is 1-2 is too few and risky. 5 is what everyone must do. 10-20 is great if you can do it.

The alt market is a thing in its own right, so I am talking about the money you allocated to investing in crypto, not about other money locked in real estate and other things. The money you put in the crypto market still need to go to 5-10 different ventures/coins.

[freshman777]

Broad diversification is key to success in investing.
Saving money in 2 coins or stocks can wipe half of your capital if one of the two goes south.
Put your dough in 5-10 coins, if one of them collapses you only lose 10-20% of your capital and can quick recover your losses. Read what professional investors do, they recommend investments spread over 10-20 ventures. Above 20 is difficult to keep track of. But 5 is a bare minimum, everyone can keep track of 5 coins and be insured against large unexpected hits.

In crypto broad diversification is picking coins with original code that are not Bitcoin clones. You diversify the software and the devs, programming languages.

You're saying "conclusions after eth fiasco" like it's over? haha

My point is some crypto investors who only had Bitcoin recently invested in Eth and thought they were properly diversified and could now feel secure. Nothing could be further from the truth. Having 2 coins is not broad programming code diversification.

[Spoetnik]

It's dead that is what..

No one is going to trust it now that it's been hacked that bad !

[GreenBits]

It's dead that is what..

No one is going to trust it now that it's been hacked that bad !

It's gonna be a long while at least, and I'm concerned at what the r3 consortium will have to say about this rather severe fail.

I didn't expect this particular thing to happen, but dammit, we called this weeks earlier

[infofront]

Conclusion: Eth is alpha quality software, at best, that is totally insecure (obviously). It is also a centralized coin run by a dictatorship.

Can you imagine where bitcoin would be if it hardforked every time some coins were stolen? But people are willing to put up with this BS for Ether. Why?

[jjacob]

It's dead that is what..

No one is going to trust it now that it's been hacked that bad !

People will still make a distinction between DAO and ETH, won't they?
Ether seems to have already recovered quite a bit.

[helloeverybody]

It's dead that is what..

No one is going to trust it now that it's been hacked that bad !

People will still make a distinction between DAO and ETH, won't they?
Ether seems to have already recovered quite a bit.

It may have recovered for now but those dao are still going to be released unless theres a hardfork to stop it, Controversial doesn't even begin to sum it up. Eth was a good earner but my advice would be to stick with btc. Eth is still a major risk.

[SwedishGirl]

TLDR: Buy $DGB.

[Spoetnik]

Conclusion: Eth is alpha quality software, at best, that is totally insecure (obviously). It is also a centralized coin run by a dictatorship.

Can you imagine where bitcoin would be if it hardforked every time some coins were stolen? But people are willing to put up with this BS for Ether. Why?

Correction: centralized ICO Block-Chain APP's platform for profit.

Ethereum is NOT a currency.

And yes this *IS* a mighty big fucking distinction.. after all that is why we are all "suppose" to be here

[scv00]

Broad diversification is key to success in investing.
Saving money in 2 coins or stocks can wipe half of your capital if one of the two goes south.
Put your dough in 5-10 coins, if one of them collapses you only lose 10-20% of your capital and can quick recover your losses. Read what professional investors do, they recommend investments spread over 10-20 ventures. Above 20 is difficult to keep track of. But 5 is a bare minimum, everyone can keep track of 5 coins and be insured against large unexpected hits.

In crypto broad diversification is picking coins with original code that are not Bitcoin clones. You diversify the software and the devs, programming languages.

To add to that, I would say that the majority of your portfolio should be in bitcoin. Alts can be used to give you that extra profit, but you shouldn't bet your house on alts.

Buying an alt is like buying bitcoin leveraged. It's much higher risk than buying bitcoin, you can make much bigger gains or lose everything. If you stick to bitcoin even if it goes down you still get money back if you decide to sell. With alts you can get much less back, or nothing if your alt dies.

[Spoetnik]

[alyssa85]

It's dead that is what..

No one is going to trust it now that it's been hacked that bad !

People will still make a distinction between DAO and ETH, won't they?
Ether seems to have already recovered quite a bit.

I think it's over. There is a difference between exchanges being hacked (these are local businesses) and the code of a coin being over-written, and DAO was a contract written on top of Ether.

This was fundamental, and I understand that the flaws were first pointed out in 2015 but nobody bothered to correct them.

The conclusion - robust code matters, and coins that have stood the test of time (bitcoin but also ltc and doge) will win over stuff that is clever-clever but turns out to have built in flaws.

[tmzn32]

It's dead that is what..

No one is going to trust it now that it's been hacked that bad !

People will still make a distinction between DAO and ETH, won't they?
Ether seems to have already recovered quite a bit.

I think it's over. There is a difference between exchanges being hacked (these are local businesses) and the code of a coin being over-written, and DAO was a contract written on top of Ether.

This was fundamental, and I understand that the flaws were first pointed out in 2015 but nobody bothered to correct them.

The conclusion - robust code matters, and coins that have stood the test of time (bitcoin but also ltc and doge) will win over stuff that is clever-clever but turns out to have built in flaws.

Reversing transaction due to badly written code is what they are currently proposing.  All principles go out the window and eth will be tarnished forever.  It will die shortly after.

[NUFCrichard]

Read what professional investors do, they recommend investments spread over 10-20 ventures.

They don't invest in Altcoins! The Altcoin world makes pennystocks look like wallstreet!  This is the wild west, Eth was a billion dollar coin, before it was used for anything!

Other alts are just as bad, or worse.  ICOs are generally scams or get rich quick schemes for the coin creators.  People copy and paste coins, give it a flashy name, premine it like crazy and people buy it with real money!  I would recommend having a punt on 1 or 2 alts that you really believe in, otherwise keep your money somewhere much better regulated and safer!

[freshman777]

Read what professional investors do, they recommend investments spread over 10-20 ventures.

They don't invest in Altcoins! The Altcoin world makes pennystocks look like wallstreet!  This is the wild west, Eth was a billion dollar coin, before it was used for anything!

Other alts are just as bad, or worse.  ICOs are generally scams or get rich quick schemes for the coin creators.  People copy and paste coins, give it a flashy name, premine it like crazy and people buy it with real money!  I would recommend having a punt on 1 or 2 alts that you really believe in, otherwise keep your money somewhere much better regulated and safer!

If you want regulations, stick with the stock and forex markets, market makers will fleece you there in no time. Crypto is the only free market on the planet. People are so used to regulations that they actually think free market is bad.