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RE: Today I bought my first Ethereum, tomorrow Litecoin....Is it good to diversify with Crypto?

in #steemit8 years ago (edited)

The whole market could easily double or triple before the Summer is over but new money coming in at these valuations is too much at risk, I think. Investing in open-source software projects should be a long term play (3+ years). Find projects that you like and believe in. Follow the team, the development process, engage with the community, and watch the project evolve (ideally on GitHub) as closely as possible. The projects that are most likely to succeed and show returns are the projects that eventually develop a sustained network effect and real world utility. Most of the money in the space today is speculative in nature which is cause for concern. BAT, IOTA, STEEM, MAID, SJCX, GNT, and LBC are interesting projects all with enormous potential for network effects. Research these projects and look for more projects over the next few weeks/months and pick a few to follow close and dollar cost average in $100 per month for the next 10 months.

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Thank you. I never really did think about investing in open source software. I will research and follow a few.

Bitcoin, Ethereum and Litecoin are all open-source software projects. The speculation money comes and goes but what's most important is network effects and real world utility.