CfZrx
Bluelighter
I know it's not Bitcoin. At least that makes sense....that the most gain would be from a smaller player. Any recommendations?
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Which CRYPTOCURRENCY Will Post The Most GAINS By 2020?
- Thread starter CfZrx
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Bitcoin, Litecoin, Monero and Siacoin are my only picks right now. Litecoin because it's been as stable as Bitcoin but also implements good features ahead of Bitcoin, Monero because it dominates the privacy niche (although being anti-KYC/AML keeps it from being more than a proxy coin between other cryptos for now), and Siacoin is a bit of a dark horse but it provides solid utility (decentralized file storage) that there are lots of potential use cases for.
I think that in the future Bitcoin and Litecoin will remain in their roles as stable gateways between fiat and crypto, but altcoins with utility will provide the real value within the crypto economy. The only issue is that altcoins are fairly easy to develop so most of them are a joke at best (e.g. Dogecoin), idealistic hype mostly (e.g. IOTA), and borderline scammy at worst (e.g. Bitcoin Cash). If you can't understand the point of an altcoin, it probably doesn't have one.
I think that in the future Bitcoin and Litecoin will remain in their roles as stable gateways between fiat and crypto, but altcoins with utility will provide the real value within the crypto economy. The only issue is that altcoins are fairly easy to develop so most of them are a joke at best (e.g. Dogecoin), idealistic hype mostly (e.g. IOTA), and borderline scammy at worst (e.g. Bitcoin Cash). If you can't understand the point of an altcoin, it probably doesn't have one.
CfZrx
Bluelighter
Excellent response! A risk spread between your four faves would make a good index for a newbie like me to try their hand at crypto investing. So paid about $40 for some BTC when it was under $1,000, and so I have made about $100-150 profit. I am thinking of selling out and buying a diff crypto that might make greater gains. Thanks! I will research Monero, Siacoin, and Lite coin. A friend thought maybe Dogecoin was good, but sounds like it's a no-go!
SheWasLvL18
Bluelight Crew
Hey guys I currently have some BTC, as well and was curious about the etherium currency. Does anyone see any good things for it's future; I understand it has some different capabilities.
I have consulted the "magic 8-ball" and it has officially replied: ask again later ...
ETH does seem to be very popular; I have friends who've made a lot of money on it
CfZrx
Bluelighter
Yes, I too wondered if I should sell my meager holdings of BTC and buy ETH
SheWasLvL18
Bluelight Crew
You guys are getting me excited now I have to do some research! Another opportunity I'm going to check out is the foreign exchange, my friend just started with a $1000 dollars in his account and has doubled it in a little over two weeks. He's recommending I use a demo account on metatrader 4 to get the basics down, has anyone else done this?Yes, I too wondered if I should sell my meager holdings of BTC and buy ETH
CfZrx
Bluelighter
I think you should try to become a penny stock millionaire.
SheWasLvL18
Bluelight Crew
LOL I'll take that as this is a fool's errand then? Sorry I am new to this stuff.
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This is pretty important question for anyone wanting to invest in the future. Most of us thought cryptocurrencies were a bit of a joke just 5-6 years ago. Now that there are bona fide billionaires thanks to BTC and it's about to start trading on some of the most important IRL exchanges, I don't think anyone's laughing anymore.
My brother reckons Etherium. I do wonder if any other currency's really going to knock BTC off it's throne though?
My brother reckons Etherium. I do wonder if any other currency's really going to knock BTC off it's throne though?
It's not a fool's errand by any means. But you have to be really careful and do a LOT of research and stay up on current trends and news daily. My friend started with a $2000 investment and doubled it to $4000 in his first 2 months of day trading various cryptos. He's invested probably $6k more, but he's going on $40k now and it's been like 5 months. He's diversified into various cryptos that he feels are providing a real function and have great development teams. He made $9000 in the last 2 weeks (though of course Bitcoin has blasted off, which is why, and isn't indicative of the usual gains in a 2 week period). It's risky, it's the wild west of crypto right now. Shit can crash quickly. But lots of people are making a lot of money. Just be smart, learn as much as you can.
There are many applications for blockchain technology that are, IMO, part of the future, and which go beyond simple currency. The cryptos of the future are the ones that identify these possibilities/needs and become the best revolutionizers so that industries adopt them and they become part of the fabric of how our technology operates. I've been investing in crypto for about half a year now and I'm learning that research and patience are the most important factors. There are tons of empty cryptocurrencies that exist simply as a magical way for some unscrupulous people to take the money of the inexperienced, but there are also great teams working on really fascinating projects. I have some investments in various projects that I feel will probably pan out really well medium-term and long-term (and one that is working out quite nicely right now). And I try to ignore the massive market swings that cause most people to panic and lose money.
But if you're really interested in cryptocurreny/blockchain, you should start researching, googling, reddit has a lot of good discussion you can then attempt to verify or debunk yourself. Some exciting areas that blockchain technology is being expanded into are cloud computing, asset liquidity, decentralized Internet service providers, decentralized cryptocurrency exchange, (much more rapid) transaction processing and tracking of rights and permissions, as well as some less overtly useful things such as gaming/social rewards. And of course the privacy coins, though I think that's always just going to be a niche market thing.
But if you're really interested in cryptocurreny/blockchain, you should start researching, googling, reddit has a lot of good discussion you can then attempt to verify or debunk yourself. Some exciting areas that blockchain technology is being expanded into are cloud computing, asset liquidity, decentralized Internet service providers, decentralized cryptocurrency exchange, (much more rapid) transaction processing and tracking of rights and permissions, as well as some less overtly useful things such as gaming/social rewards. And of course the privacy coins, though I think that's always just going to be a niche market thing.
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