But that’s precisely my point. People who are serious about crypto, such as yourself, see these as distinct technologies with particular use cases. But the market which has made them such lucrative investments does not understand or distinguish these things; it’s stupid money piling in. The price of a given crypto does not reflect any technical distinctions, it’s just herd mentality.
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This.
Plus, broad brush strokes are always accompanied with such superficial analyses of the technology that is being developed by so much of the crypto space. Admittedly, the tech itself is dense and hard to penetrate, and I think this is fuel for the dismissive fire. But the goals are tangible and powerful. Not just for finance, but for improving life for people in parts of the world where government structures are woefully inadequate…educational records, legal contracts, etc.
Still early days though. The FUD will continue for a good while I think.
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I understand there are very good use cases for blockchain and related technology.
But I don’t think that’s why people are buying it, except for an idealistic minority. 99% is sheer greed.
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It sounds like you’re describing TSLA stock. Speculation is expected with assets you can invest in.
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Oh, I feel exactly the same about Tesla stock. And unprofitable tech companies with massive valuations in general. It’s all part of the same techno-optimist bubble.
Obviously, I have not made a lot of money in recent years, unlike yourself, so I may well be wrong. THIS IS NOT FINANCIAL ADVICE.
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What you don’t like about “crypto” is the same thing you don’t like about the stock market. You just don’t like greed and that’s fine. I think of greed as something that should be consciously balanced in one’s life. Understanding and managing one’s greed can help them become better at investing.
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Okay guys can we get away from the meta discussion about how bad/good crypto is and back to some inside trading tricks so we can all get something from cake? Just bought some Cardano ADA - if we all buy it can go to the moon🤞I wish I had more money…
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Crypto reverse the statu quo/ go around. Can change the system etc. Dépend of the project. Please stay correct noob. I do not talk about ETH, it’s just the beginning, new word coming. Anyway I was answering briefly to a tree saver who didnt consider the fact banks and other things consume 1000000x more trees, elec etc.
And Stay courteous litte computer boi.
Any thoughts on Algorand here? I’m enjoying a 6% apy compounded daily through coinbase. Has very low carbon footprint, fast transaction speeds, and should be ideal for NFTs as it is immune to forking.
Also, anybody using Cudo Miner at all?
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I’ve been messing with algo…(sort of) daytrading it. Basically just sell any time it gets about a 15-20% ROI which has happened twice now. Timing the market is hard like they say. My friend has 8k ALGO in his coinbase account and gets 1.33 ALGO/day which is pretty nice all things considered. Mine is only in my coinbase pro account so it doesn’t quite work out, but I can easily transfer it over. Haven’t figured that out yet. I’m also not sure I have enough for it to be worth it–only have 1200 algo atm.
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I’m trying to do this too. I had the urge to do it Wednesday morning and again this morning; I totally regret not following my urges.
Daytrade ALGO? Or just hodl and keep it in your coinbase account for interest?
It seems to fluctuate between $1.30 and $1.55 fairly consistently, which is a nice ROI…Put a limit buy at $1.30, then a limit sell at $1.55 and you’ve made a good chunk. I’ve only done this once thought in the past 3-4 weeks I will admit, and I’m kind of new to this stuff and don’t know what the hell I’m talking about 
I am also doing what you’re doing and buying ETH dips. I have regretted not buying ETH since the beginning of this year when I explicitly asked some people if I should buy it and they said no. I had money to invest and wasn’t sure what to do. I’d be up 4x right now, probably selling half along the way and holding the rest.
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I’m also considering getting into shitcoins but it’s incredibly confusing. You have to use so many different apps and transfer so many different things and copy codes and it’s just…I need someone to walk me through it. I have a coworker who recently started doing this and has only made serious gains. I don’t think he’s lost anything. There is of course always the potential to lose a lot, but he’s talking making 20x in the span of five minutes and then getting the fuck out. It’s weird.
I actually trade the ETHE Greyscale trust in my Fidelity Roth account; any gains I make there are entirely tax free. I sold it all once right after it mooned and parked the $ in RBLX. I sold the RBLX and rebought the ETHE after it dipped a bit to a lower price.
I tried that once with Ethereum Classic (ETCG) right before Musk appeared on SNL and lost $20,000.
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yeah i was reading your posts up there earlier. i trade ETH via coinbase pro. i haven’t cashed out yet and i assume i will pay capital gains tax once i do. using a roth seems like a life hack…i have a TDA account. maybe i can set up a roth and trade eth there?
Yeah, do it. You are limited to $6500 a year to put funds into it, but tax free gains is where it is at imo.
i’m just not sure if i can trade eth via a TDA roth account. i suppose i’ll have to find out.
You can trade ETHE; it is a Grayscale trust that owns ETH. It will eventually become an ETF.
what is a greyscale trust?