Stanlo (OP)
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October 25, 2021, 11:07:24 AM |
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Utilities isn't the end, if you are smart then you should know that it's just the beginning, just because many are advicing you to invest in coins with good utilities doesn't mean once you find one it's a home, remember that even after a good utility the success of the project still depends on the team and dev capabilities so invest only what you can afford to lose
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Luffygroove
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October 26, 2021, 03:50:15 AM |
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I agreed the team and dev capabilities take a big part in a project's success but IMHO, the success of the project depends on many aspects. In the community, for example, I saw many great devs so active in developing but unfortunately, the communities are lazy or probably because it just consists of airdroppers and AMA participants? I don't know. They face difficulty to gain new investors and hype the project. I think it needs both of the devs and the community's efforts to bring success to the project. In conclusion, I do agree with your statement that we should invest only what we can afford to lose
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pooya87
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October 26, 2021, 05:06:05 AM |
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the success of the project still depends on the team and dev capabilities
I disagree. What you are describing is the pumpability not success. If the project has no utility but a good dev capable of wasting millions into that shitcoin and has enough pumping experience they can easily pump their shitcoin to a high price. We already have the top altcoins for examples. But they never guarantee success. Which is why all of these types of altcoins get dumped eventually. Again like the top altcoins that have been dumping for the past 4 years. Otherwise if the coin is actually useful and has some innovation, even if it doesn't get pumped, it will have a successful future in the long run which makes it an excellent investment (others are short term trading options not investments). Sadly we haven't had such a coin after creation of bitcoin.
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witcher_sense
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October 26, 2021, 06:52:34 AM |
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Utilities isn't the end, if you are smart then you should know that it's just the beginning, just because many are advicing you to invest in coins with good utilities doesn't mean once you find one it's a home, remember that even after a good utility the success of the project still depends on the team and dev capabilities so invest only what you can afford to lose
If the success of a project wholly depends on developers writing code for that project, then it is safe to assume the decisions they make define its future. It also follows that they have full control of the coin they are working on, which means the coin is technically centralized like any other organization in the current financial system. Like any other financial organization, the coin we are talking about is subject to regulation by the government. Decisions made by the government will inevitably affect the decisions of the controllers of the project, which in turn will affect the future of the project. No matter what utility the said project may have, it won't succeed without the permission of the government. Perhaps, a project won't be successful even if the permission for it to exist was given because there are other permissionless options that most people will tend to choose instead of regulated ones. They will prefer unregulated options not because they want so but because they haven't even been given a choice.
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Piggymonster
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October 26, 2021, 07:12:58 AM |
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I have read this several times in this forum the golden investment rule to invest only what you can afford to lose. It is to protect your assets from risk and volatility and also your heart from breaking because of regrets. Kidding aside, always know that cryptos, even those coins that offers utility are still highly volatile asset. Also, be updated with the latest cryptocurrency and bitcoin news, it can help a lot for decision making on investment.
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tvplus006
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I have read this several times in this forum the golden investment rule to invest only what you can afford to lose. It is to protect your assets from risk and volatility and also your heart from breaking because of regrets. ..
Perhaps this way your assets in real life will remain protected, but they are unlikely to be able to protect your psyche from loss. After all, if you came to the market with $1000, and then were able to increase it to 100 thousand, after which you lost the entire deposit, then you will not be sad about the lost thousand dollars, but about the lost 100 thousand.
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GeorgeJohn
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October 26, 2021, 12:32:31 PM |
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so invest only what you can afford to lose
I agreed with this concept of investment idealogy, it's very obvious that many people doesn't scrutinized or examine a coin very well, even watch a platform very well before adventuring into investment system, and that really caused a deep wound when market disappoints, during investment, we have to consider two factors, which involves positivity and negativity during the time of investment, so the positivity aspect of it is narrowing to the chances of been successful with any amount invest. So therefore, negativity is also facing the area of getting lost at all coursed, so it of benefit to invest with a reserved finance as op stipulated above so that when the damages or lose occur during the investment time, an investor can be enable or as well condole and forget about it. And a newbie have to understand this concept, putting all your money for one investment, is like someone conveying twelve (12) creates of eggs with one basket.
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Charles-Tim
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October 26, 2021, 12:55:58 PM |
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I have read this several times in this forum the golden investment rule to invest only what you can afford to lose. It is to protect your assets from risk and volatility and also your heart from breaking because of regrets.
If you do not invest, then likely you have a depreciative asset which is called fiat, investment is risky but it depends on the coin that you choose, there are thousands of altcoins and many are shitcoins and very risky, that is why it is best to just invest in bitcoin. Do you know some people prefer bitcoin to fiat and that has grown their wealth till this day. I do not think there is anything bad to make use of the fiat you are not using but resting in your bank account for months or years, you can invest such fiat in bitcoin. It should goes like this, invest what you can afford to lose if you want to invest in altcoins whiles people should consider many altcoins as gambling because success can be the outcome while it can still be otherwise which is also very likely. Also it can go like this, trading is risky, it is good to only use the amount you can afford to lose to trade because people lose more than gain. But for bitcoin, I see nothing bad to invest your fiat in bitcoin rather than letting it depreciate with government control over it.
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TheNineClub
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October 26, 2021, 01:40:35 PM |
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Basically, invest anything that would not affect your day to day life., That would be sound advice for any spending, only spend what you have left over. In the last cycle, people were mortgaging their houses and for a lot of them it did not turn out that good. Investing is unfortunately not for anyone, you need to take care of your needs first.
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Coin_trader
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October 26, 2021, 01:49:25 PM |
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Basically, invest anything that would not affect your day to day life., That would be sound advice for any spending, only spend what you have left over. In the last cycle, people were mortgaging their houses and for a lot of them it did not turn out that good. Investing is unfortunately not for anyone, you need to take care of your needs first.
Liquidating necessity asset just to invest it on coin that's high risk is not really investing. It is more on gambling and I saw this kind of story on social media. This people are those lunatic that keep complaining on a startup project for every negative percentage on the token value. It's not necessary to invest only your spare money because you will not gain enough profit if you will only do that since this not gambling. Investment is a serious matter, You should consider allocating a proper amount on it so that you can be successful on gaining good profit but if you are doing it just for fun then investing only a spare money is your best option.
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SquirrelJulietGarden
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October 26, 2021, 02:36:38 PM |
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Liquidating necessity asset just to invest it on coin that's high risk is not really investing. It is more on gambling and I saw this kind of story on social media.
No complain about gambling not investing. This people are those lunatic that keep complaining on a startup project for every negative percentage on the token value. It's not necessary to invest only your spare money because you will not gain enough profit if you will only do that since this not gambling.
Investment in a startup project is risky and investors have to be aware of this risk for their investment. If they are not aware of risk, they are only gambling with their capital. Investment is a serious matter, You should consider allocating a proper amount on it so that you can be successful on gaining good profit but if you are doing it just for fun then investing only a spare money is your best option.
To invest, they have to do research to get information, verify it and make their assessment about that project. It is not easy. The fact is most of people invest after they read or hear about a startup project from media. They don't do their research and believe in what they were given on media. It's gambling.
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sunsilk
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October 26, 2021, 08:03:15 PM |
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Use case of a coin is one big factor why it's going to be successful. Those projects that have been implementing their coins or tokens with a use case, they're the ones that dominate in the market. But let's all agree that these use cases are becoming just one factor when it's tradable on a bigger scale of its market.
Despite having a use case if most investors are trading and won't be going for the use case, it's still another measure of a project's success despite most of its investors are staying to become a trader and investor and won't be pursuing its use case.
True to it that not all of projects that are promising with use cases proposal are succeeding.
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dbc23
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October 26, 2021, 10:46:45 PM |
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Many projects has surfaced and it's even more difficult this days predicting which coin would do well in near future and how long the project would last. All this depends on how much the developer invest in seeing their project thrive. Wisdom the say is profitable to direct. Cryptocurrency investment is not ponzi and it's not a gambling sector. For this your risk management appetite and money management scheme will go a long way to reduce losses.
In most cases some projects comes alive after a long time which could take years this where investing what you can afford to lose play in. This will help you forget about a particular amount invested in a project even when it's experiencing a dip.
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Piggymonster
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October 27, 2021, 02:05:46 AM |
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--snip--
Fiat money is still the safest asset you can have because it is backed by government and it is still the legal tender that is accepted in all types of businesses. Those people who prefer bitcoin over fiat, I admire for their courage to invest all, though bitcoin is the most successful and the largest cryptocurrency in the world but it still not declared as legal tender except in El Salvador and we know bitcoin has a volatile value. While I agree with you that there is nothing bad on investing the fiat money that is resting in your bank account, just enough that will surely can't affect your living expenses.
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Bitbtc8
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October 27, 2021, 04:58:54 AM |
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If the team can't handle a good marketing the project will drag on its knee and the interest might even be affected on the long run, as for fiat money it's still very much useful because to buy into any token and coin you still need some Fiat, today fiat is more recognise that crypto, maybe this will change in future
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Piggymonster
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October 27, 2021, 05:21:34 AM |
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--snip--
Yeah right, the psychological and emotional stress of losing a large amount of money, I have been there myself. But it is not the end of the world, what doesn't kill you make you stronger hahaha. After all, investments involve some degree of risks, just use caution in investing decisions and watch out for fraudulent digital asset and crypto trading websites.
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traderethereum
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October 27, 2021, 05:31:52 AM |
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Before you invest in anything, you need to know how much money you will use because that is the important thing that you should determine to minimize the risk that can happen in the future. You do not have to invest because someone suggests you buy the coin, but you must research for more to find if that coin is good for you or find the other coin. If you want to invest in a coin because you want to profit, you should search for the right coin to buy and hold. But if you want to invest in the coin because of the utility, you need to research for more but that will need long before you can profit from the coin.
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kryptocanon
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October 27, 2021, 01:01:56 PM |
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today fiat is more recognise that crypto, maybe this will change in future
It certainly will, you just gotta give it time. The future is digital and btc is getting more recognized.
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October 28, 2021, 07:02:42 AM |
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Basically, invest anything that would not affect your day to day life., That would be sound advice for any spending, only spend what you have left over. In the last cycle, people were mortgaging their houses and for a lot of them it did not turn out that good. Investing is unfortunately not for anyone, you need to take care of your needs first.
Well, yes, yeah, following this advice, perhaps it would be better to clarify the coin that is worth believing? The OP is not talking about bitcoin, I would not be so self-confident. That being said, the topic is for beginners. You can imagine how today's newbie, having seen all the promises of the developers of any new coin, and replacing their photos with famous people in the cryptocurrency space, will start investing in this project. People will lose everything. This is known in advance. At the same time, how much do you need to have that is not a pity to lose? It's all a pity for me. Therefore, to invest somewhere once, you need to find out a hundred times whether it is worth doing,
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Patigi
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October 28, 2021, 11:05:07 AM |
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It is truth, with my little experience invest only what you can afford to lose. It happened to me when I Started to invest on some altcoin, I invested a lot into altcoin at that time, I used all my money in my bank account.
After I bought the coin one month later the coin started dumping before I know the coin added one zero and also added one few months later, this is how my 300usd become 3usd. I have no hope again because I am student that how I started to borrow money around. I am so ashamed of myself and I started to regret why I invested all my money not what I can lose
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