I dont trade, but I thought about trying Blocktrades coz they are involved here on the site and sponsor contests and whatnot. Good to see you posting :)
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I dont trade, but I thought about trying Blocktrades coz they are involved here on the site and sponsor contests and whatnot. Good to see you posting :)
Posting, mining and development is only part of what makes a coin popular. Without trading there is no way to find a market price and merchants won't accept the coin - after all it is not backed by any centralized authority. With crypto I've finally learned that is is a big important part of building community and long term success. But each to his own, these things have a nice way of working out with large populations.
Oh I am totally for it. With my background in finance, I am intimately familiar with the markets, and trading being necessary for price discovery. Not to mention without liquid markets that are a result of trading, it would be very hard to sell out any real size.
However, personally I cannot understand a way to value the coins. In equities, I can see Apple sold x number of phones or McDonalds sold y number of burgers, so I can sort of derive a value. Yet I hold Steem because of Steemit. I can see Steem having a value because of the inherent value of this platform.
It is really tough to evaluate crypto, there is really no scarcity in a way because it is so easy to create a new blockchain from open source software. It comes down to more about what kind of potential and new technologies a coin brings and how popular and supportive the communities are.
I forgot about your background in finance, I hope I didn't sound too much like I'm preaching to the choir, lol.
No not at all. I always appreciate your thoughts and comments! I find it always hard to communicate accurately with text. So when I question about valuing crytos, its not coming as a challenge, I just always have had a hard time understanding how to value gold as well..So thank you for explaining it to me.