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Author Topic: Your Ideology Affects You what Tokens to Support?  (Read 345 times)
nngella
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October 18, 2018, 12:38:26 AM
Merited by vapourminer (1), xtraelv (1)
 #1

Do you also experience having a preference on buying one token to another because of your principles or ideology?

One example of mine is related to buying Monero.  We all know that the value of Monero skyrocketed last year and during that time I was still hesitant if I will buy Monero because we all know that the token is all about privacy and it is mostly used in darkweb.  Darkweb involved all of crime-related transactions and I feel that buying Monero makes you an accomplice of their illegal trades/deals.

I also find myself buying tokens and supporting campaigns related to preserving the environment.  Maybe because I really love nature and believe in the effect of global warming.
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October 18, 2018, 06:58:41 AM
Merited by dbshck (1)
 #2

Yes, my ideology is never buy token (if their project don't need token/ICO or no strong proof they have working product/server which is better than competitor in most aspect).

Monero categorized as cryptocurrency/coins, not Token. Besides, privacy isn't a crime.
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October 18, 2018, 09:11:49 AM
Last edit: October 18, 2018, 09:52:27 AM by Helana
Merited by vapourminer (1), The Pharmacist (1)
 #3

Do you also experience having a preference on buying one token to another because of your principles or ideology?
I don't buy tokens, maybe that's  my ideology
One example of mine is related to buying Monero.  We all know that the value of Monero skyrocketed last year and during that time I was still hesitant if I will buy Monero because we all know that the token is all about privacy and it is mostly used in darkweb.  Darkweb involved all of crime-related transactions and I feel that buying Monero makes you an accomplice of their illegal trades/deals.
Even though Monero can be used on the Darkweb, the use of the coin doesn't define how the coin is itself. Besides, Monero is also used in the "bright" one. If we take the principle of illegal transactions as a measure for not trusting a coin, then we probably will never use any asset of value, for everything can be used either for doing good or bad things.

I also find myself buying tokens and supporting campaigns related to preserving the environment.  Maybe because I really love nature and believe in the effect of global warming.

That's your own opinion and that's ok, but, I insist, everything can be used either for good or bad. Money is money, technology is technology, what differs is just what person is using it and to what end, that's all. So, nop, I have no ideology when buying, maybe I focus on the technology and the biggest coins.  Wink
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October 18, 2018, 03:03:34 PM
Merited by suchmoon (4), vapourminer (1), xtraelv (1)
 #4

I don't knowingly support tokens related to porn industry or similar. The problem I find is that, even it can be a legitimate trade (or profession if you fancy) consisting of filming or showing acts consented by adults that get paid for it, it is also true that is too frequently linked to abuse, blackmailing and exploitation. I do joke about it from time to time, but a different thing is to support it.

I have not supported any gambling project either and I think I will keep it that way in the future.

Regarding privacy coins, I have the same view as with Tax Havens: For all or for none, but not "just for the chosen few".
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October 18, 2018, 11:22:23 PM
 #5

I'm not buying tokens which are close to my ideology. I'm just trying to find project which can bring me biggest profit. And I stopped to invest in ICO's last year because I decided that's too risky investment, so I can't tell much about my investment ideology.
I just know that I would never invest in projects which support cannabis industry.
About your story OP. I don't know how you came to Bitcoin world. We know lot of anti-BTC propaganda stories that Bitcoins are used in darkweb or support terrorists. So, how do you decided to invest in BTC despite this negativity from news media? Monero is just another cryptocurrency which just give better privacy than BTC. There is nothing wrong to invest in privacy coins like Monero or Zcash.
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October 19, 2018, 10:01:38 AM
 #6

If you don't invest based on what you believe in, then how do you expect your investment to do well long term?

Investing short term is fine if you are a trader, but I don't think day traders need to know anything about project's ideology to try and make few cents on daily ups and downs.
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October 19, 2018, 06:28:51 PM
 #7

I am not sure about ideology. I basically support coins or tokens that I think have a real use case or something that can solve a problem regardless of what industry they belong to.
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October 26, 2018, 11:43:29 AM
Last edit: October 27, 2018, 04:39:08 AM by xtraelv
 #8

I only support projects and coins that I believe in. Regardless of profit.

Project ethics, long-term viability, real world use, innovation and strong development teams is what gets my attention.

It makes any losses more bearable knowing that a project is giving its best and it makes any profits more satisfying knowing that it is making a positive impact.


What i found that works best for me is to have a long term strategy rather than following the hype of coins. With ICO's and with pumps and dumps there is frantic trading and the price first goes up and then usually goes down.

You can analyse the cycles of a coin and predict when it goes up and when it is likely to go down. But I am not a particularly good trader.
I like capital gain rather than trading profits.

I find it easier and less time consuming to buy coins that I think are long term winners.
The criteria that I use are:
If it is POW coins - how much does it cost to mine v to buy ?
Was there a pre-mine and who benefited and why ? (e.g. if it is used for ongoing development then that is good - if it is dev get rich quick then it is bad)
With POS coins - is the rate of return sustainable. How is it generated ? Transaction fees or new coins generated?
What is the total number of coins in circulation.
What is the usual daily number of coins being traded
What is the maximum amount of coins that will be / are created.
How popular is it ?
Importantly - does it have a particular purpose?
How useful is it ?
Do i understand how it works ?
Its special features - Would I use it ?
Does it have some really good features ?
What is the market CAP - is it realistic ?
Does it have a busy developer community ?
Are funds from its value being used to develop it further ?
Is it ethical and does it have legitimate use ? (For my own peace of mind and to prevent regulatory shutdown)


Spread your investment - do some cloud mining, some home mining, invest in a promising exchange / crypto related startup / ICO , Invest in some established coins like BTC, ETH, LTC and invest in some lesser known coins that show some promise. Don't be too greedy - diversify. Take some risk but make sure to do your homework. Last year after everyone was selling ETH after the DAO hack - I took a risk and stated buying ETH mining contracts and ETH.  I made a larger % from that than trading. It outperformed my expectations.

Some coins are worthwhile holding on when the price crashes and sometimes you are better cutting your losses.

I hadn't heard of Droxne until I saw the trading volume this morning with a large volume being dumped and the price crashing.


“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett

(I have to add - Warren Buffet does not like crypto and has said crypto is a bubble that will burst)

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October 28, 2018, 05:07:03 AM
 #9

Do you also experience having a preference on buying one token to another because of your principles or ideology?
honestly speaking I don't. the only reason I buy tokens or coins is because of their future ROI. I buy them mostly at presale or immediately they get listed and wait patiently until I get the feeling the hype is over and trade them immediately to Bitcoin then forget them for good. moving to another wanna be bitcoin. so far I have made 3 digits in bitcoin from doing so and still holding. I don't care what the coin is use for, none of that is my business since I know they all will die someday and the only true cryptocurrency is Bitcoincash oops Grin BITCOIN
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October 28, 2018, 11:28:09 PM
Merited by paxmao (1)
 #10

When I saw this topic, the first altcoin that came to my mind is Stellar.

Stellar says in its website

Stellar.org connects people to low-cost financial services to fight poverty and develop individual potential.

I believe this is the most "ideology" project I know.

However, Stellar founder is a former Ripple founder, Jed McCaleb.
Ripple would be a coin totally against that ideology?

I believe that buying and holding bitcoin is already an ideology act by itself, against the financial system.
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October 29, 2018, 08:32:32 AM
 #11

My ideology to support or buy tokens is all about a project that could be easily implemented. This is how I look upon buying or supporting a token. Some of the tokens are ambitious enough thinking and promoting a project that will take some time to generate ROI (Return of Investment). Since, many investors nowadays are impatient so the project will relatively fail for they can't wait to sell their coin/token holdings after token exchange listing.

So, it should be great to support a project where ROI could be seen right away after listing. I have seen one project so far and that is the CHT tokens.  I do believe in them. The market price for each token continually grows even in the bear market.

Quote
Bull or bear, the market is there! Our crypto fund records strong growth in the current highly volatile crypto markets. (https://www.countinghousefund.com/)


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November 06, 2018, 11:45:11 AM
 #12

...
Spread your investment - do some cloud mining, some home mining, invest in a promising exchange / crypto related startup / ICO , Invest in some established coins like BTC, ETH, LTC and invest in some
...


"Put All Your Eggs in One Basket, and Then Watch That Basket"-  Carnegie, around 1902

In any case, it is much more sensible to focus on what you know best and what you do best.
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November 06, 2018, 12:30:39 PM
 #13

I only support projects and coins that I believe in. Regardless of profit.

Project ethics, long-term viability, real world use, innovation and strong development teams is what gets my attention.

Can you give some examples of projects that have such qualities?
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November 06, 2018, 02:19:07 PM
 #14

Yes, of course. If you believe in something then you prefer to support that. Same thing with the ICO-s.
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November 10, 2018, 06:02:00 AM
 #15

--

Try to check the whitepaper first and review their platform,  if the soft cap and hardcap is really impossible to reach because of the quailty of the product then it is a NO BUY SIGNAL.

See it for yourself.  
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November 13, 2018, 11:26:38 PM
 #16

Not really my ideology but how I perceived it to be two or three years after it was launched, there are a lot of coins that caters to every individual's beliefs but I'm here to make for a profit in a short and long-term I'm an open minded I just don't accept violence related coins.
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November 18, 2018, 02:06:48 PM
 #17

of course.

coins for say gambling or porn i wont buy. not because i think they are evil, or never gambled or looked at porn, but i just dont really support such a specialized coin. i dont think they should not exist however.

just a personal rule of mine, and i pass no judgement on those that use them. live and let live is my motto.
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December 03, 2018, 05:06:53 AM
 #18

Well at the end is all about profit isn't? or saving money... I guess some people that are patriots they are gonna choose their national cryptocurrencies maybe like the Japanese or Germans but in the end, they will surely choose to invest or trade in bitcoins too
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December 03, 2018, 05:45:46 AM
 #19

On a macro level, there is a pretty strong divide regarding where the value in crypto lies that I believe is deeply rooted in ideological differences.

Libertarians, ancaps, and other government skeptics that make up a large portion of the space argue that value lies in a sovereign currency, with all the properties necessary for tamper-proof use on a global scale.

Technocrats (who also make up a large portion of the space) point to new utilities and functionalities enabled by crypto and blockchain tech as true value. From what I've seen, this camp is also populated by an eclectic ensemble that includes businessmen, humanitarians, and (believe it or not) socialists, plus a smattering of others.

Get-rich-quickers and normie investors are split between both camps, I believe.

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