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Author Topic: How in the FUCK are you supposed to know what's legit?  (Read 3456 times)
kelsey
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December 29, 2014, 03:32:14 PM
 #41

If there's IPO/ICO it's 99.99% percent scam.
If there's more than 0.1% premine it's scam.
If there's not a roadmap, what's done so far, it's scam.
If it was instamined it's scam.
If the ANN topic is self moderated it's probably scam.

There're lots of other things, you need to check out the whole ann page to understand it.


If its come from this forum in the last 12 months...its a scam  Lips sealed
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December 29, 2014, 03:36:16 PM
 #42

If there's IPO/ICO it's 99.99% percent scam.
If there's more than 0.1% premine it's scam.
If there's not a roadmap, what's done so far, it's scam.
If it was instamined it's scam.
If the ANN topic is self moderated it's probably scam.

There're lots of other things, you need to check out the whole ann page to understand it.


If its come from this forum in the last 12 months...its a scam  Lips sealed

most likely, yeah.  and saying that is being fair.

.BitDice.               ▄▄███▄▄
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December 29, 2014, 06:02:29 PM
 #43

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.

Its hard to know. Most of the coins could promise features but not deliver. So its impossible to know, which one to pick .

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December 29, 2014, 06:48:48 PM
 #44

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.


Let's get this straight, you are upset that the way to make an extreme amount of money isn't somehow labelled on the product so you can easily identify, buy and therefore become massively wealthy?

I'm going to go ahead and assume you are under 18.
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December 29, 2014, 06:51:36 PM
 #45

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.

Its hard to know. Most of the coins could promise features but not deliver. So its impossible to know, which one to pick .


It's not impossible, it's difficult. Two very different things. Though actually if you have some intelligence and you learn to check things out and what to look for then it is often not that difficult.
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December 29, 2014, 06:52:34 PM
 #46

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.


Let's get this straight, you are upset that the way to make an extreme amount of money isn't somehow labelled on the product so you can easily identify, buy and therefore become massively wealthy?

I'm going to go ahead and assume you are under 18.

I don't think he's upset about it,  its just that the market can no longer sustain this.
People are just trying to figure out which coins are actually trustworthy & have genuine value.




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December 29, 2014, 06:54:47 PM
 #47

If there's IPO/ICO it's 99.99% percent scam.
If there's more than 0.1% premine it's scam.
If there's not a roadmap, what's done so far, it's scam.
If it was instamined it's scam.
If the ANN topic is self moderated it's probably scam.

There're lots of other things, you need to check out the whole ann page to understand it.



Rules can guide you but if you follow them religiously particularly the ones above you would of missed most of the biggest most promising projects of the last year or two. Rules will get you someway but having a bit of discernment of the developers intent is essential.
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December 29, 2014, 06:56:09 PM
 #48

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.


Let's get this straight, you are upset that the way to make an extreme amount of money isn't somehow labelled on the product so you can easily identify, buy and therefore become massively wealthy?

I'm going to go ahead and assume you are under 18.

I don't think he's upset about it,  its just that the market can no longer sustain this.
People are just trying to figure out which coins are actually trustworthy & have genuine value.







Replace upset with exasperated then, it doesn't change my point. This always been the Wild West. But just like the Wild West that is when fortunes can be made. If the OP wants 'Legit' and safe I suggest the OP buys a tracker fund earning 7% per annum.
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December 29, 2014, 06:58:43 PM
 #49

I wrote this a while back, still applies today: http://razorsforex.blogspot.com/2014/02/which-cryptocurrency-should-you-invest.html
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December 29, 2014, 07:18:07 PM
 #50

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.

this is bullshit.

I don't even look at shit websites. They do reveal nothing. The website is always shiny. Doing research/due dilligence does NOT mean to look at the stupid website

you go look for these things:

-is it newbe-dev? if yes: stay away if no: make sure the account used wasn't bought
-next you look for premine. Does it have one? Then skip! (do not buy into the lies of funds are needed for xy or won't be accessed because it's all lies)
-IPO/ITO/ICO SKIP!
-If it hasn't a premine  and no presale and wants to say it's a legit and fair coin you then go on the blockexplorer and see if the blocktimes and rewards of  the first few thousand blocks are what they should be - if the blocktimes are faster than what they should have been stay away cuz it's an flashmine/instamine/something fishy
-do not touch coins with short initial distribution aswell. A good coin is mined for months and years not just days - this is important so you have some distribution of the coin wider than just the 5 blokes who have been around for the ninjalaunch and 5 days mining.

-----

so now you have ruled out already 80% of (shiny) altcoins you don't want to touch. Your odds for profit as investor are now greatly increased.

You're welcome.


Logo, promises, graphics, website, roadmap is  worth nothing with a freshly released coin. These things need to be ignored from the getgo because they are only there to lure YOU into buying it. Ignore the glitter. It's all pigs under the lipstick. Do NEVER buy coins based on promises of xy feature or other things beingreleased in the future because most of  the times it doesn't happen. I can not stress enough: DO NOT BUY PROMISES

a coin needs:
-community
-hashrate
-devteam
-real longterm prospects
-moderate to low inflation (pos interest is inflation too) - 5% in a year is fiat-inflation; so it should be below 5% in a year to be healthy. 
-good distribution between as many people as possible  

coins that do not have the above do go nowhere.

From this angle looking at the website is a waste of time. That's what you do last.

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December 29, 2014, 07:31:54 PM
 #51

i look at it like it is gambling. try to research and find the good coins, but never invest to much in one and be prepared to lose it all because around here you never know what is going to happen.

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December 29, 2014, 08:44:29 PM
 #52

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.

this is bullshit.

I don't even look at shit websites. They do reveal nothing. The website is always shiny. Doing research/due dilligence does NOT mean to look at the stupid website

you go look for these things:

-is it newbe-dev? if yes: stay away if no: make sure the account used wasn't bought
-next you look for premine. Does it have one? Then skip! (do not buy into the lies of funds are needed for xy or won't be accessed because it's all lies)
-IPO/ITO/ICO SKIP!
-If it hasn't a premine  and no presale and wants to say it's a legit and fair coin you then go on the blockexplorer and see if the blocktimes and rewards of  the first few thousand blocks are what they should be - if the blocktimes are faster than what they should have been stay away cuz it's an flashmine/instamine/something fishy
-do not touch coins with short initial distribution aswell. A good coin is mined for months and years not just days - this is important so you have some distribution of the coin wider than just the 5 blokes who have been around for the ninjalaunch and 5 days mining.

-----

so now you have ruled out already 80% of (shiny) altcoins you don't want to touch. Your odds for profit as investor are now greatly increased.

You're welcome.


Logo, promises, graphics, website, roadmap is  worth nothing with a freshly released coin. These things need to be ignored from the getgo because they are only there to lure YOU into buying it. Ignore the glitter. It's all pigs under the lipstick. Do NEVER buy coins based on promises of xy feature or other things beingreleased in the future because most of  the times it doesn't happen. I can not stress enough: DO NOT BUY PROMISES

a coin needs:
-community
-hashrate
-devteam
-real longterm prospects
-moderate to low inflation (pos interest is inflation too) - 5% in a year is fiat-inflation; so it should be below 5% in a year to be healthy. 
-good distribution between as many people as possible  

coins that do not have the above do go nowhere.

From this angle looking at the website is a waste of time. That's what you do last.


Why do I keep seeing people say to skip IPO's. half the top 20 coins on CoinMarketcap are IPO's. Plus whether you like it or not IPOs have become the way most new developments are being distributed.

and no Newbie account? Well you would of missed making a fortune with NXT for one thing. You can't follow absolute rules, you got to have a bit more sense than that to spot winners.Plus you got to be willing to be wrong too, that's where the best learning takes place.
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December 29, 2014, 10:38:46 PM
 #53

heres my strategy.
1.buy doge at 56-57 sell at 58-59
2.buy litecoin at 2.65 sell at >2.7
3.buy darkcoin at <1.90 sell at >1.90
4.buy 42 coin at 5.1 sell at >5.1
5.buy ripple...just buy it and hold on to it until it rises
6.buy monero, its awesome
7.buy shitcoin below market price, pump it, dump it
invest >0.5 btc or dont bother

The risk is too high for the amount of profits in my opinion, but its a fun way to waste time i guess.

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December 30, 2014, 12:14:48 AM
 #54

Consider everything here as gambling or HYIP. Then invest your money accordingly.
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December 30, 2014, 12:27:13 AM
 #55

It is not research but rather a process of elimination. 

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same difference  Roll Eyes

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December 30, 2014, 01:08:14 AM
 #56

heres my strategy.
1.buy doge at 56-57 sell at 58-59
2.buy litecoin at 2.65 sell at >2.7
3.buy darkcoin at <1.90 sell at >1.90
4.buy 42 coin at 5.1 sell at >5.1
5.buy ripple...just buy it and hold on to it until it rises
6.buy monero, its awesome
7.buy shitcoin below market price, pump it, dump it
invest >0.5 btc or dont bother

The risk is too high for the amount of profits in my opinion, but its a fun way to waste time i guess.



8. Buy Burstcoin and hold. First and only coin that is POC and working Smart Contracts. I only agree with #6 above.

Jump you fuckers! | The thing about smart motherfuckers is they sound like crazy motherfuckers to dumb motherfuckers. | My sig space for rent for 25 btc per week.
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December 30, 2014, 02:09:00 AM
 #57



Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.

Get inside the consumer's head and choose the coins that they'll embrace.

A currency's long-term success will always be determined by its rate of adoption.

"The Internet unshackled information, Satoshi Nakamoto unshackled money. And money makes the world go round."
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December 30, 2014, 07:05:23 AM
 #58


Why do I keep seeing people say to skip IPO's. half the top 20 coins on CoinMarketcap are IPO's.

because of selfbuys in ipo's which is easily possible with bitcoin and leaves no traces but is actually highly illegal. Of course these coins can do particularly well for the short/mid-term since after a selfbuy in the own presale most coins are held by the one issuing it and in addition to  this that person can use the bitcoin from the IPO to further pump the coin to draw in even more people with high volume and rising prices before dumping the coin. So it is no surprise to find these scams high up in the list with big volume and high prices.

fraudulent presale distribution will go on as long as people buy into it obviously.

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December 30, 2014, 07:27:28 AM
 #59

daaaaaammmmnnn...  

Not all of the original investors had the foresight to hodl and dump during the peak though. Some sold part or all of their stake while the prices were still extremely cheap.

For example, in this thread, someone had invested 0.05 BTC (worth $50) into the IPO and later sold it all for 2.5 BTC in total. Had he waited, it would have been worth $250,000:

Well, just wanted to make myself more angry at myself than I have been for the past year. Always thinking about this big mistake. How much I could have had, if I had not been naive and greedy. An investment of 0.05BTC, about 50$ at the time, gave me the following. When NXT released, I thought nothing of it, and sold for I think about 2.5BTC in total. I could have done all of the things I struggle to do now because of lack of funding (businesses, services, etc)

My mistake will haunt me for the rest of my life.

Sad

Majority of people can't see that far..majority wants overnight gain..they can't even see few days forward let alone months.

actually yeah, i know the feeling.  i was told about BTC back in 2010 when it was cheap but didn't really bother looking it up.  i was in the process of downloading the blockchain then got impatient cos my internet was slow so i quit and uninstalled. it was amir taaki who told me about it believe it or not.    

I'm in same boat.  Smiley

I looked at the size of blockchain and cancelled it half way back when it was $5

Were there any lightweight wallets like multibit back then?

I looked at it and I was like "nah..it's already too high"...a month later it was "$20" and I was like.."Oh snap..I guess I should've bought at $5..too late now" few months later it was at $1200 and I was yelling 5000! 5000! 5000! so I bought butt load of them. Guess what happened next?

I've had shit luck when it comes to crypto and bitcoins. Everytime I buy it ALWAYS goes down. I've tried it with Drk, BC, Doge, RDD, BTC, LTC and bunch others. I'm still invested in lot of them but  I don't worry about short term anymore...I'll check back few years later to see what's up..if they're dead they're dead but few years is fair amount of time.

I missed a great opportunity with BTC and I don't wanna repeat the history. Even if one of those coin hits $1 by 2020 I'll still end up with few millions on my hand. If they're dead I'll just lose couple of hundred bucks..no big deal.

Reward> Risk



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December 30, 2014, 08:08:59 AM
 #60

daaaaaammmmnnn...  

Not all of the original investors had the foresight to hodl and dump during the peak though. Some sold part or all of their stake while the prices were still extremely cheap.

For example, in this thread, someone had invested 0.05 BTC (worth $50) into the IPO and later sold it all for 2.5 BTC in total. Had he waited, it would have been worth $250,000:

Well, just wanted to make myself more angry at myself than I have been for the past year. Always thinking about this big mistake. How much I could have had, if I had not been naive and greedy. An investment of 0.05BTC, about 50$ at the time, gave me the following. When NXT released, I thought nothing of it, and sold for I think about 2.5BTC in total. I could have done all of the things I struggle to do now because of lack of funding (businesses, services, etc)

My mistake will haunt me for the rest of my life.

Sad

Majority of people can't see that far..majority wants overnight gain..they can't even see few days forward let alone months.

actually yeah, i know the feeling.  i was told about BTC back in 2010 when it was cheap but didn't really bother looking it up.  i was in the process of downloading the blockchain then got impatient cos my internet was slow so i quit and uninstalled. it was amir taaki who told me about it believe it or not.    

I'm in same boat.  Smiley

I looked at the size of blockchain and cancelled it half way back when it was $5

Were there any lightweight wallets like multibit back then?

I looked at it and I was like "nah..it's already too high"...a month later it was "$20" and I was like.."Oh snap..I guess I should've bought at $5..too late now" few months later it was at $1200 and I was yelling 5000! 5000! 5000! so I bought butt load of them. Guess what happened next?

I've had shit luck when it comes to crypto and bitcoins. Everytime I buy it ALWAYS goes down. I've tried it with Drk, BC, Doge, RDD, BTC, LTC and bunch others. I'm still invested in lot of them but  I don't worry about short term anymore...I'll check back few years later to see what's up..if they're dead they're dead but few years is fair amount of time.

I missed a great opportunity with BTC and I don't wanna repeat the history. Even if one of those coin hits $1 by 2020 I'll still end up with few millions on my hand. If they're dead I'll just lose couple of hundred bucks..no big deal.

Reward> Risk



bulls buy at extreme troughs and sell at extreme peaks. Most ppl buying into bull distribution.. 99% of the time every market ranges or goes down

★☆★Syscoin - Decentralized Marketplace and Multisig Platform
Pay with Bitcoin, ZCash and many more
For more visit Syscoin.org  ★☆★
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