I'd say once you see how this all works it's just obvious.. no details needed.
The issue is complication and confusion.. which helps shitcoin dev's.
Lets start with.. a criteria.. GET ONE !
- What is an Altcoin and why are they being made ?
Since you have nothing to lose as you said and the first thing you did was "jump in" investing
and you apparently HAVE money to spare as a college student.
I'd say you are leaning heavily to being a profiteer.. like all the rest here.
I got here and fell victim to the rambblings of the Feathercoin team then moved to Litecoin permanently.
I was lured into FTC because of the criteria you mentioned earlier.
But back then there was only a few Altcoins and BTC had not hit $50 yet.
Back then i'd guess there was 50 Altcoin in total.. including Tenebrix etc.
So.. We
simplify it all.
The first thing we need is perspective..
You can not ignore the amount of coins created mounts in time.
So you have to judge any new project on the fact it will be coin #3,203 etc.
Is making #3,203 justified ?
I'd say you need a better excuse than you do if it was coin #8.
Then I'd look at the point of it (the excuse)
Is it a currency ? Or is it a scheme of sorts tacked onto a block-chain ?
Then you need to figure out what it's initial distribution is and what you deem acceptable.
Such as Airdrops or ICO bullshit or varied levels of premines etc.
And what of those you are willing to support.
I could go on but it should be common sense really.. just don't let them all confuse you with White Papers and shill jargon etc.
Things like the dev's identity being posted is 100% meaningless.
Crypto is littered with an endless stream of "known" users who took the money and ran for it.
Bottom Line:For me it's simple.. i am waiting to see if the Bitcoin Killer comes out.
And if it does it will be blatant / obvious.
There will not be any confusion or question or humming & hawing about it all.
You'll just know..
So what is left.. you are lookin' at it and as you said you jumped right in (investing)
So.. your investing in shitcoins
So what are you REALLY asking ?
Which pointless shitcoin is least risky FOR YOUR ROI'Z ?
Revelations:The first thing that surprised me joining crypto was the morality confrontation.
I didn't realize it was going to be such a tantamount aspect to all this.
It's funny i assumed getting in it was all about tech & code etc.. digital stuff.
Then seen trading with emotions and rampant back stabbing shady greedy shenanigans etc.
So i am saying day 1 and for a while you need to establish what your moral stance is on this stuff is.
And it will likely grow and change in time and maybe with age / maturity.
(although some people are just criminals at heart)
The one thing i noticed that slapped me across the face was..
It's easy for you and me to be a little bit shady and greedy.
And in time i noticed the effects of this.. negative repercussions individually and as a whole.
So I'm saying if we all trade blatantly shitty coins for profits..
just a little..it has a combined large cumulative negative effect.
This has been..
* Spoetnik's Hitch Hiker's Guide to Crypto *Bookmark it