too many coins how to decide which to buy?

[bignwb]

Hey guys

I am new on the forum and i have never bought any coins before, but i have been reading lately alot about it in details so i am just looking for ideas and thought process how you decide which coins to buy and how you filter through all this information about hundreds of coins.



How do you guys judge which coins are scamcoins? For example i have read threads on forum about Dash being a pure scam, but somewhere else you can find threads that Dash is the future of cryptocurrencies and you can see it getting accepted and price rising? Do you pay attention to threads calling some coin a scam or just ignore it as somebody crying because they lost money?


This last jump high for BTC was because higher demand in China and Japan from rumors that they will be recognized as legitemate payment option but if this happens they will be regulated and monitored so they will no longer be anonymous what was the original idea behind the creation of BTC. So in long run won't accepting and regulating BTC just ruin it becase it will destroy the only reason it got so big in the first place?


And where do you see the future of crypto? As i have been reading i notice that the most dominant trend is decentralization?

I mean projects like Sia and Storj offering decentralized encrypted file storage in the future maybe competiton to Dropbox and Amazon. So if just one of them pulls it off their coins could skyrocket hundreds of times or am i completley mistaken about this?

More projects building on decentralization  the internet like Maidsafe and decentralized super computers like Golem and iEx also offer their coins so how would you decide which ones to buy or would you just buy smaller portions of all of them? Anyways if only one of delivers on their ides all the money from other decentralized projects would just jump over to the working one pushing the wining coin even higher?

Regarding Safenetwork from Maidsafe are they offering the holy grail of everything all other coins are offering? If they manage to deliver on decentralized internet, filestorage, dapps woldnt this just kill the need for all other coins?


I aslo see alot of coins like Zcash, Verge, Zerocoin, Cloakcoin and Monero claiming to be far better version then Bitcoin offering much stronger security and privacy. Monero is allready skyrocketing and i think Zcash claimed their security is mathematically unbreakable. So i am wondering will this new coins that are more secure and scalable just push Bitcoin out of the way or will Bitcoin hold on as it has till now?

What are your thoughts about projects like Etherum and Stratis, and so called social coins like Steem and Reddcoin?

 And last its not crypto currency but what do you guys think of Ripple? I have rad alot about Ripple and i saw that some banks have pulled out of it and the R3, chossing to develope their own projects or going with Ledger from IBM in which small guys cant invest atleast not that i know of. But i also read alot of banks accepting Ripple and already making succsesful cross border payments? If ripple delivers on their plans this should push the price of XRP hundreds of times??

i am sorry for such a long post but any reply is much appreciated.

Thanks

[strohhirn]

You should definitely diversify your portfolio of coins, because you cant know wich coin will establish in some years and wich will die out.
Be careful with ICO's. That are start ups, and statistically 99% of the start ups dont succeed in the long run. (and some ICO's might be scams)
Here a good video: https://www.youtube.com/watch?v=ndER2Ok_js8

Most coins rise faster in value but also sink faster in value than BTC, because the price is set in BTC. So if BTC price drops, the price of most coins drop even harder.

[nejibens]

There is a section about trading discussion in this forum, you can visit it and read the threads to learn about the most valuable coins which have good potential. Trading need knowledge and experience, so take your time before buying, because it is somehow risky domain.

[lizardbtc]

You just read alot and inform yourself and decide which is "scam" for you.

Dash : they have that 10% from mining is going to the dev found so they are able to build and update the coin as well as they have money for marketing campaign. Some people dislike this as they see this as a way for devs to earn free money for miners work.

Bitcoin is not anonymous now even. You can track where did coins came from, you always could. There are privacy coins that eliminates the public record of transactions or they tend to mix everything in it. It is pseudo - anonymous because owners of the addresses are not known but they all can be linked if you give your ID in order to buy bitcoin 3rd parties can assume where did coins went to and from; there is still a way to mix coins so it can be private if used right.

Sia and StorJ have potential but this is simply like what every new coin and ICO are doing. They all require their token in order to use their platform so that the holders and people who are in it from the beginning can earn big at end.

Waves and Ethereum are doing dapps and "new internet" as well in a way.

Bitcoin will hold as it is the first one out there and because it is a big giant. I don't see in the near future that it will be taken down fast.

Ripple is totally different, yes. In my opinion I don't like it and I don't personally own any XRP , but again this just might be me. Better is to look and find what you like.

--------------

Since many people saw that bitcoin had price starting from nothing others made their coins in order to try to earn. Today most of the altcoins don't even have main purpose but are rather used for people to gamble upon.

[Yudhisthir]

If you have money to invest on, diversify it and buy a dozen of popular coins. Most coins have tendency to increase in price.
My top 5 consist of Bitcoins,  Monero, Darkcoin, Ripple and Blackcoin.

Still bitcoin is the best buy.

[EXtremeAEX]

If you are new to altcoins, even if you have read alot, just stick to a few coins that are more popular and trusted by the community at first. Such coins can be Ethereum, DogeCoin, LiteCoin... I personally find it hard to keep track of multiple portfolios at once, so I stick to a few coins that I like myself.

Start small first, then when you are more familiar with this game then go ahead and diversify your portfolio. Asking on this forum for what coins to buy will give you biased answers, but you can think through them and decide the final call for yourself. It's your coins after all, wish you luck in trading/investing!

[boranes]

First of all - don't ask that kind of questions because everyone will tell you their favorite coin or coin which they have and want's to sell on higher price.
Do some research about projects, coins, see if devs are active etc and make your own decision.

[bignwb]

I was really hoping for replys like this

i think diversification is the key to success so i am not really looking for specific coins more trying to identify the direction crypto coins are moving

i noticed that a lot of alt coins are just copycats of each other with without any clear direction or papers published or roadmaps

that is why it is important to consult with you guys coz you have much more knowledge and experience

from everything i have read one work keeps appearing everywhere and that is decentralization

that in general seems to be the next step in internet and technology

i think that crypto coins can be sorted in following groups:

original coins: bitcoin and litecoin these are the oldest and most established and well know. Possibly the safest to invest in.

next generation coins: zcoin, verge, zerocoin, cloakcoin and monero coins that promise to eliminate all the weak point of original coins, enhanced security and scaleability

monetary coins/tokens: xrp, dash coins that aim to integrate with banks, advancing the decades old swift system  and general usage online and in store

social coins: steem and reddcoin

blockchain dapps and platforms: eth and stratis

decentralized storage: sia and storj

decentralized supercomputers: golem and iex

decentralized internet: safe network

gambling coins

does any of this make any sense at all? anybody can think of any more groups?

[Stripple]

Like the others said it's lots and lots of reading, and ultimately it's still a bit of a gamble whether some coins will be worth anything in the end. Regardless if it looks completely solid up front. Sure, there are higher chances of success for some, but to me in the end it still comes down to a gamble.

[swogerino]

Bitcoin is the king so your focus should be on the king. All other altcoins no matter how good they may be and their claims maybe , history has shown us that they usually end up in being abandoned with the few exceptions. Those few exceptions like Ethereum ,Zcash and few others have started to lose their value almost every day more.

[lizardbtc]

I was really hoping for replys like this

i think diversification is the key to success so i am not really looking for specific coins more trying to identify the direction crypto coins are moving

i noticed that a lot of alt coins are just copycats of each other with without any clear direction or papers published or roadmaps

that is why it is important to consult with you guys coz you have much more knowledge and experience

from everything i have read one work keeps appearing everywhere and that is decentralization

that in general seems to be the next step in internet and technology

i think that crypto coins can be sorted in following groups:

original coins: bitcoin and litecoin these are the oldest and most established and well know. Possibly the safest to invest in.

next generation coins: zcoin, verge, zerocoin, cloakcoin and monero coins that promise to eliminate all the weak point of original coins, enhanced security and scaleability

monetary coins/tokens: xrp, dash coins that aim to integrate with banks, advancing the decades old swift system  and general usage online and in store

social coins: steem and reddcoin

blockchain dapps and platforms: eth and stratis

decentralized storage: sia and storj

decentralized supercomputers: golem and iex

decentralized internet: safe network

gambling coins

does any of this make any sense at all? anybody can think of any more groups?

Well yeah most of the alts were made just for profit and for devs and people around it to try to reach the sky and become millionaire someday. Thats why there is really to much of them. People are looking for decentralized things cuz even internet is big decentralized global network when you look closer, because of decentralization it is harder to shut down something and it cuts the centralized servers but requires our computers space and runtime.

You can sort them out like you wish as there isn't any certain categories. IEX and GOLEM are run through Ethereum network so you could just put Ethereum for
decentralized supercomputers category. Ethereum was intended to work as a big decentralized supercomputer at first.

[chopcoin.io]

Read and understand the whitepapers, check the teams and their background carefully and ask yourself seriously whether there is a market for the purpose the coin tries to serve. Especially many Ethereum Tokens try to decentralize things that don't need to be decentralized and might even be more efficient in a centralized way in my opinion. 

[Stripple]

Also, as with any investment it's a good idea to diversify. Like the S&P500, it's good to have some bitcoin (maybe that should be the biggest part) and some eth, some ripple, perhaps a few ICO's, some Waves or ZCash.

The point is the more you spread out your investments, the more likely you are to profit from the growth of crypto as a whole and you're less dependent on the performance of a single coin

[Munz77]

You have alot of reading to do. You can either do 2 things:

1. Buy BTC, ETH, NEO, XRP/XLM/LTC (take your pick)
2. Dont do anything, and then when BTC is $30k in two years come back on here an whinge about how you should have done something.

[crismass1225]

Give some timea of reading before trading and buying some coins. ICOs is a startup we dont know which are scam or not... Just try to have somr portfolio of different coin. Value of alt coin depends on BTC so if btc rise up it value other will pull it up

[SGToken]

Just buy BTC and you will never regret.

[cozytrade]

Buy the rumors and sell the news (just my tips). Doing this one would help you a lot. If there's some FUD that have been published (example: in ETH) if there's a FUD then ETH would dump. So buyed when it dumps and sell when there's a good news incoming in ETH because possible it will pump

[Makka]

If you have money to invest on, diversify it and buy a dozen of popular coins. Most coins have tendency to increase in price.
My top 5 consist of Bitcoins,  Monero, Darkcoin, Ripple and Blackcoin.

Still bitcoin is the best buy.

There is no need to worry about so many coins to choose from. It is on the contrary a better position for us so that we can carefully choose our own choices. You better choose the 5 listed here and add some ETH and Waves, and Strat, and also Status. Neo is also doing well.

[asriloni]

There are some steps for you to decide about the best coin to buy that. the first thing you must understand about the idea of the project itself. the second you must try to do a research about the team of the project, and the last one you must try to make a poll to the community about the reliable of the project itself.

[Andrew1337]

Well do a list of your like coins and after buy a ammount from each of them . For example if you have 1000 usd buy with 100 usd , 10x different coins , so you can get a lot of profit . By the way I recommend you to buy tokens from a ico you can get a good discount