What I noticed in the last weeks, maybe month, is that many people getting into cryptospace with a couple of hundred Euro's. Over the holidays and new year I've spoken with so many people who made that statement, next to the statement they dont know anything of trading, but trying to play around with a little. In trollboxes at exchanges, I see the same questions over and over again wrt how to transfer money to this and that, how to buy a coin, how to...essentially all the questions you would ask when having no experience at all.
What I think is going on is that the larger volatility is caused by all these newbies who will jump on hypes, and react immediately to the news, whatever news it is. Look at for instance what happened with Ripple, and TRON. TO me, good reasons why Ripple went up, although it is not a decentralised coin, that doesn't really matter IMHO, but they have potential to cut deals with commercial businesses. Than after news that some prospects mentioned is denying it, BAM 40% down. Why? Ripple is still big in the financial world with all there products and therefore the cards the can play are pretty good to get deals with their current customers and others in their business segment.
The real value of a coin is in the end the level of trust we as a collective have that the coin will be relevant in our lives, now and in many years to come. With so many coins and tokens around, it is hard to define that level of trust, the real researchers start looking at how good the blockchain is, what it allows to do, what try to predict what the potential is for future use, and try to base our decisions on that. At least that is what I do. Such evaluation is more like you would evaluate a company to decide if you like to buy their stocks. I do realise that the coin/token itself is not directly linked to the services of and around the blockchain, but indirectly it is. When a blockchain is not able to do certain things, it will very likely not make it in that particular market segment, therefore it will have lower value in our lives for that particular purpose. I think you know what I mean, but still a very simple example. Bitcoin will not make it in the payments market, it is too slow and with the network being this big already and the recent history with all the misalignment between the decision makers (the miners), we cannot expect Bitcoin to become super fast. Therefore this coin could serve as store of value. But the moment some other coins are out there with extreme high level of security, and maybe a better de-centralisation, this could mean even Bitcoin will suffer from that, because we start using some other coin to put our crypto in 'savings'.
I think we will have some turbulent years ahead of us. Many more people will enter cryptospace with their savings, and also traditional financial investors will enter this space more and more, therefore increasing the total crypto marketcap tremendously. But I'm afraid we also will see a higher volatility due to the so many newbie 'traders' who dont know this space at all, and who do not know how to trade, who get scared easily.
I experience the same thing around me. What does not help is all those Youtube-videos about 'Best 5 coins under $1!' or '7 Cryptos that are still cheap and will go x100!'.
I feel it is everyone's obligation to point out what you point out with this video/post. It is our duty to educate the community. Nobody wins when the sentiment around crypto turns negative because of misinformation.
Thanks for bringing this subject up to your followers. An educated audience will educate their (future) audience :-)
They should be talking about value coins with the most future potential not cheap coins.
Cheap coins could be related with worthlessness which in the end means expensive coins.
@nanzo-scoop I like your approach to Cryptos. Yes more and more people are coming to people like us to ask questions. I would tell anyone who is NEW to just set UP a Coinbase Account First and then look into STEEMIT. Since the platform we have here is still in it's BETA infancy. Cheers to you as I listen to your video right now.
I learn a lot from your videos. It gets hard to cut through all the nonsense of listening to youtubers who only just started trading the same time we did. It is definitely better to know how everything works and be able to see it for yourself. The more I do that, the more I see who is also doing that and can consider their analysis as part of mine but not the entire thing. All these videos saying Bitcoin is going to the moon. Yea no shit. Everybody knows that. But if you don't know why, you dont know jack. I need some of that 21 million. Everything I do in ALTs is to get more of that.
Yep knowing your journey and motivation in buying any cryptocurrency is important first step. I learned very early doors, there are no experts in trading crypto (it's too early for that)... just people whose advice rings true and those whose doesn't.
This is really a comprehensive cheatsheet for a newbie like me.
The few coins i have bought,i have done it because they are cheap and i had not taken into consideration all these factors.
I know have a check list before i buy and coin even if it is cheap!
Thank you for this.
It’s always the price that people speculate about but it’s also the value and history of the coin . That’s why it’s importsnt to research of each coin before purchasing . What do you think of EOS as an opinion? I bought some at $9
Ps- you were a big inspiration for me to go my first vlog yesterday :D
I think EOS has huge potential... let's hope they deliver as the crypto space is in dire need of more applications like Steemit that people actually use!
Yes - I saw your vlog. I enjoyed it. Look forward to seeing more. Humbled I played a small part. :)
@nanzo-scoop I believe what you have reiterated is especially useful for those who are completely new to cryptocurrency.
All that being said, sometimes valuations of coins just break all logic - look at XRP - high volumes, far more to come to circulation and see the price.
Great post. It is very interesting how many people are entering this space without understanding basic fundamentals. Unfortunately sometimes the only way to learn these lessons is the hard way.
Great post! I see many people looking fot cheap cryptos instead of looking for valuable cryptos. A cheap money with poor value is worthless. An expensive crypto with a great project could be very valuable (especially if you are a holder).
Like Warren Buffet said ''Price is what you pay. Value is what you get.``
Beyond the points you have mentioned I also look at a few more other points, which are a bit more qualitative:
Size and quality of the community
Growth of the community
Usecases
Technical specific ( e.g. smart contracts, transaction costs, base for other tokens)
This I put into perspective to the diluted number of coins ( in my definition this is the number once the number of coins does not inflate by more than 1%).
I don't have to say that Steem does score very high in this ranking.
This reminds me of the Chinese flooding of the market with cheap clothes at the early 2k. People were rushing to buy them like crazy, assuming it's an easy way to get lots of stuff, only to end up with clothes that are rendered unusable after a couple of months. At the same time, the local fabric industry which provided better quality at higher prices was ruined forever.
Cryptocurrency have actually leverage some people out of their financial difficulties, though it involves a high risk is highly volatile so therefore never invest what you can't afford to lose, is a win win situation,
Thanks it was a good post
Good post with some good points. But you forget to mention that with cheap coins you can invest only $5 just to see what happens and potentially make real gains, without risking a huge loss.
If nothing else cheap coins can serve as a good place for beginners to get used to the whole thing.
Maybe, but then what is the difference between that and spending spare cash in a casino or on the horses or the lottery? I think beginners can learn about the fundamentals by understanding the value proposition of some of the more establish coins. That way they can be better informed about the value or otherwise of smaller cap coins.
Great post, I am sending this to all my friends who are constantly asking me which "cheap" coins to buy for $100 and to get $10000 out by the end of the year ;)
I wonder if there is an excellent investment opportunity by going in the complete opposite direction, investing in "expensive" coins with a very small circulating supply. Byteball comes to mind. Or maybe they'll never catch on because of that psychological hurdle for people.
I've no doubt that getting in on 'scarce' coins will become en vogue (again) at some point. All it takes if for one small supply coin to take off. If Byteball went to $30,000 per coin/Gbyte. People will be looking for the next Byteball to get in on at $50 or $60...
The day I discovered that I had to put in consideration the total supply of a coin, I felt like I had come of age lol. That one thing is the biggest revelation I've had so far.
i want to buy cheapest coin but it is risky for my money @nanzo-scoop please friend you suggest me which coin is best for buy and which coin give me profit.
I made a post about a cheap cryptocurrency that is constantly growing. Cheap cryptocurrencies are definitely a good opportunity to make some bucks, if you do a lot of useful research, of course.
I tried touching down the financial basics of different coins, as well as learning technical analysis. I think most important things that changing prices are announcement and speculation. The other day when TRON jumped 145% in a single day that was purely because of a single tweet by the CEO about partnerships to come, similarly verge and lots of coins. I think I am still learning all these things but as far as my practicals go a lot it depended on announcements as well !
you have said it all @nanzo-scoop...thats what every healthy living being must consifer..making sure you energy and time is put to good use...not wasting it
What I noticed in the last weeks, maybe month, is that many people getting into cryptospace with a couple of hundred Euro's. Over the holidays and new year I've spoken with so many people who made that statement, next to the statement they dont know anything of trading, but trying to play around with a little. In trollboxes at exchanges, I see the same questions over and over again wrt how to transfer money to this and that, how to buy a coin, how to...essentially all the questions you would ask when having no experience at all.
What I think is going on is that the larger volatility is caused by all these newbies who will jump on hypes, and react immediately to the news, whatever news it is. Look at for instance what happened with Ripple, and TRON. TO me, good reasons why Ripple went up, although it is not a decentralised coin, that doesn't really matter IMHO, but they have potential to cut deals with commercial businesses. Than after news that some prospects mentioned is denying it, BAM 40% down. Why? Ripple is still big in the financial world with all there products and therefore the cards the can play are pretty good to get deals with their current customers and others in their business segment.
The real value of a coin is in the end the level of trust we as a collective have that the coin will be relevant in our lives, now and in many years to come. With so many coins and tokens around, it is hard to define that level of trust, the real researchers start looking at how good the blockchain is, what it allows to do, what try to predict what the potential is for future use, and try to base our decisions on that. At least that is what I do. Such evaluation is more like you would evaluate a company to decide if you like to buy their stocks. I do realise that the coin/token itself is not directly linked to the services of and around the blockchain, but indirectly it is. When a blockchain is not able to do certain things, it will very likely not make it in that particular market segment, therefore it will have lower value in our lives for that particular purpose. I think you know what I mean, but still a very simple example. Bitcoin will not make it in the payments market, it is too slow and with the network being this big already and the recent history with all the misalignment between the decision makers (the miners), we cannot expect Bitcoin to become super fast. Therefore this coin could serve as store of value. But the moment some other coins are out there with extreme high level of security, and maybe a better de-centralisation, this could mean even Bitcoin will suffer from that, because we start using some other coin to put our crypto in 'savings'.
I think we will have some turbulent years ahead of us. Many more people will enter cryptospace with their savings, and also traditional financial investors will enter this space more and more, therefore increasing the total crypto marketcap tremendously. But I'm afraid we also will see a higher volatility due to the so many newbie 'traders' who dont know this space at all, and who do not know how to trade, who get scared easily.
Anyway, only time will tell :)
Great video @nanzo-scoop! Solid info :-)
I experience the same thing around me. What does not help is all those Youtube-videos about 'Best 5 coins under $1!' or '7 Cryptos that are still cheap and will go x100!'.
I feel it is everyone's obligation to point out what you point out with this video/post. It is our duty to educate the community. Nobody wins when the sentiment around crypto turns negative because of misinformation.
Thanks for bringing this subject up to your followers. An educated audience will educate their (future) audience :-)
Keep up the good work!
They should be talking about value coins with the most future potential not cheap coins.
Cheap coins could be related with worthlessness which in the end means expensive coins.
Damn, those are some true words! :-)
Your knowledge is amazing @cryptotem
@nanzo-scoop I like your approach to Cryptos. Yes more and more people are coming to people like us to ask questions. I would tell anyone who is NEW to just set UP a Coinbase Account First and then look into STEEMIT. Since the platform we have here is still in it's BETA infancy. Cheers to you as I listen to your video right now.
I learn a lot from your videos. It gets hard to cut through all the nonsense of listening to youtubers who only just started trading the same time we did. It is definitely better to know how everything works and be able to see it for yourself. The more I do that, the more I see who is also doing that and can consider their analysis as part of mine but not the entire thing. All these videos saying Bitcoin is going to the moon. Yea no shit. Everybody knows that. But if you don't know why, you dont know jack. I need some of that 21 million. Everything I do in ALTs is to get more of that.
Yep knowing your journey and motivation in buying any cryptocurrency is important first step. I learned very early doors, there are no experts in trading crypto (it's too early for that)... just people whose advice rings true and those whose doesn't.
Hi there,
I think the main issue with coin recommendations is that the beneficiaries are mainly those people, who wrote the recommendation.
All this "coin of the week" recommendations are for those who want to hold coins for max 2-3 days. Subsequently they fall again :)
I would appreciate a forum, where the people can vote, for those coins they want to have investigated - they crowd never lies :)
This is really a comprehensive cheatsheet for a newbie like me.
The few coins i have bought,i have done it because they are cheap and i had not taken into consideration all these factors.
I know have a check list before i buy and coin even if it is cheap!
Thank you for this.
It’s always the price that people speculate about but it’s also the value and history of the coin . That’s why it’s importsnt to research of each coin before purchasing . What do you think of EOS as an opinion? I bought some at $9
Ps- you were a big inspiration for me to go my first vlog yesterday :D
I think EOS has huge potential... let's hope they deliver as the crypto space is in dire need of more applications like Steemit that people actually use!
Yes - I saw your vlog. I enjoyed it. Look forward to seeing more. Humbled I played a small part. :)
@nanzo-scoop I believe what you have reiterated is especially useful for those who are completely new to cryptocurrency.
All that being said, sometimes valuations of coins just break all logic - look at XRP - high volumes, far more to come to circulation and see the price.
Great post. It is very interesting how many people are entering this space without understanding basic fundamentals. Unfortunately sometimes the only way to learn these lessons is the hard way.
Great post! I see many people looking fot cheap cryptos instead of looking for valuable cryptos. A cheap money with poor value is worthless. An expensive crypto with a great project could be very valuable (especially if you are a holder).
Like Warren Buffet said ''Price is what you pay. Value is what you get.``
Beyond the points you have mentioned I also look at a few more other points, which are a bit more qualitative:
This I put into perspective to the diluted number of coins ( in my definition this is the number once the number of coins does not inflate by more than 1%).
I don't have to say that Steem does score very high in this ranking.
This reminds me of the Chinese flooding of the market with cheap clothes at the early 2k. People were rushing to buy them like crazy, assuming it's an easy way to get lots of stuff, only to end up with clothes that are rendered unusable after a couple of months. At the same time, the local fabric industry which provided better quality at higher prices was ruined forever.
Cryptocurrency have actually leverage some people out of their financial difficulties, though it involves a high risk is highly volatile so therefore never invest what you can't afford to lose, is a win win situation,
Thanks it was a good post
Good post with some good points. But you forget to mention that with cheap coins you can invest only $5 just to see what happens and potentially make real gains, without risking a huge loss.
If nothing else cheap coins can serve as a good place for beginners to get used to the whole thing.
Maybe, but then what is the difference between that and spending spare cash in a casino or on the horses or the lottery? I think beginners can learn about the fundamentals by understanding the value proposition of some of the more establish coins. That way they can be better informed about the value or otherwise of smaller cap coins.
these bathrooms vlogs are legitness ;)
You know it! Only place I can find peace and solitude!! A bit like reading on the toilet.
All XRP holder need to watch this!!
Great post, I am sending this to all my friends who are constantly asking me which "cheap" coins to buy for $100 and to get $10000 out by the end of the year ;)
Well, you have to spend money to make money. Nothing good comes cheap, everyone is always looking for the easy way out... Good post friend.
I wonder if there is an excellent investment opportunity by going in the complete opposite direction, investing in "expensive" coins with a very small circulating supply. Byteball comes to mind. Or maybe they'll never catch on because of that psychological hurdle for people.
I've no doubt that getting in on 'scarce' coins will become en vogue (again) at some point. All it takes if for one small supply coin to take off. If Byteball went to $30,000 per coin/Gbyte. People will be looking for the next Byteball to get in on at $50 or $60...
The day I discovered that I had to put in consideration the total supply of a coin, I felt like I had come of age lol. That one thing is the biggest revelation I've had so far.
Obviously, i appreciate your speech, your maximum mention are will be occur for crypto
Great Post!. Interesting Story. I want more of this. Keep it up
Which cheap coins would you recommend now? Share your top 5 cheap coins...
Hey, nice story line, it is interesting. I am following you, can you follow me @ xtophercruzeu thanks
Good post buddy
Have a good day
I have my investment in From(TRX)
I think it would skyrocket what do say about this?
Amazing video sir .... I like your video...
Upvote and Reateem your post...
i want to buy cheapest coin but it is risky for my money @nanzo-scoop please friend you suggest me which coin is best for buy and which coin give me profit.
By your video we can greatly realize the crypto attracting the market hit
Thanks for the info
Very nice video
Hey you from a successful person in your business Everyone wants to become like you continued my friend
Great video
your work on steemit is awesome
Keep up the good work
nice vidio @nanzo-scoop
I just joined steemit and post my introduce.
Warm regards :)
I made a post about a cheap cryptocurrency that is constantly growing. Cheap cryptocurrencies are definitely a good opportunity to make some bucks, if you do a lot of useful research, of course.
Nic post
I tried touching down the financial basics of different coins, as well as learning technical analysis. I think most important things that changing prices are announcement and speculation. The other day when TRON jumped 145% in a single day that was purely because of a single tweet by the CEO about partnerships to come, similarly verge and lots of coins. I think I am still learning all these things but as far as my practicals go a lot it depended on announcements as well !
Buy Spectrecoin (XSPEC), they make x100
I love your post! It's what I like to share with my followers! Im Following you and I also Resteem it!
Great...
Loved your video @nanzo-scoop! Thank you for sharing your knowledge with us. There’s so much to be learned... have a great day☀️☀️
Harga sangat penting tuk menjalan kan sebuah ke tentraman dalam suatu negara
am just new to this coin hodling of a thing
and how i know icos or coins with a green future, i would simply visit there groups/channels and ask them there game plan before i invest
Great video again @nanzo-scoop and Steem On!
crypto has become pop fasion)
in Russia even kids at school discuss it)
you have said it all @nanzo-scoop...thats what every healthy living being must consifer..making sure you energy and time is put to good use...not wasting it
Due to the bonuses for #stock #brokers at the 15th of Jan u can expecte the price rises #tothemoon #BTC #ETH $BTC $ETH #Ethereum #Bitcoin Let's see what will happens.Thanks for the vlog