After A Lot Of Reading...Here Is Where I Stand

in bitcoin •  7 years ago 

CryptoNewb

So I have spent the last week reading about ALL sorts of coins and projects. I had NO idea how many there actually were. After a lot of reading I think I found a couple that I am interested in. Many projects are shiny and sound cool until you really dig into them. I am still about a week out from making my final decisions and jumping in, but I am getting there. With that said, these are my thoughts.


Bitcoin

I think at this point it is pointless NOT to invest in bitcoin. Most other coins are only going up because Bitcoin is. It has been adopted by many more participants than other coins and a lot of names are behind it. We have seen it climb and climb and I do not see it stopping. Even if it never breaks 20k it is still almost double your money from the time of this writing.

I would like to see a nice dip back down to about 9k or so. This would be a pretty comfortable entry point for me but I would not paying today's market price as I think it will keep rocketing.


Litecoin

Litecoin is on my list because I think that it will be very useful for smaller transactions and I see bitcoin being used for bigger transactions in the future. 4 times the speed is a BIG difference. We have already seen good growth from Litecoin and it is sittting pretty at about 100 dollars USD right now.

I might be crazy but I see litecoin basically rising WITH Bitcoin. I like that Litecoin is not trying to compete with Bitcoin, other coins made that mistake. I see litecoin going to 400 easy, though it might take a while.


Cardano

So I will be honest here. I think this crypto will be HUGE. I want to get in now because I feel within 2 years you will see the prices skyrocket. As far as being unique goes, these guys take the cake. However, this is mostly gut feeling and there is a good chance this will go nowhere. I hate how hyped it is getting because I would hate to see immature money make it look bad when it does not 10x right away and they are whining and dumping. Anyway this is why I like cardano.

  • The team behind cardano are really bright folks.

  • I see this as sort of a new breed of cryptocurrency, which is exciting.

  • I love that they plan to evolve and adapt over time instead of not being able to change much down the road.

  • I am a nerd and love haskell?

bitcoin cryptocurrency cardano litecoin financial
7 years ago by

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      ·  7 years ago 

    I think a lot of people feel bitcoin is too expensive and might lead to people buying litecoin instead. I agree with you on Cardano all the way... load up on these coins now.

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        ·  7 years ago 

      Thanks for your input medicbtom! Yes, the price of btc might also force more litecoin action as well. Good point.

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          ·  7 years ago 

        Same here regarding Cardano. It is by far the smartest project in the crypto realm and it seems to have the most serious and mature development team. And amid this upsurge in useless shitcoins, Cardano is one of the few that's focused on solving real world problems with a masterfully planned roadmap.

        I'm a newcomer to crypto and I am still researching altcoins to diversify my modest portfolio but Cardano quickly struck me as a keeper.

        But I'm afraid Cardano appeals more to the "thinking" kind of crypto-user and the masses might be attracted by flashier assets. Do you think technical superiority is enough to ensure massive adoption in the future? My guess is that Cardano needs to up its marketing at some point because its flawless technical narrative - which is more than enough to get me on board - may lack the emotional X factor some people are looking for. See for example Electroneum...

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            ·  7 years ago 

          Yeah I hear a lot about electroneum, and then I laugh. Cardano, if picked up on, will be the SHIT. Also, I think that if corps are going to get involved in this, they are not the average user. They will MAKE SURE there are brains behind their investment. I see Cardano a long term diamond. Maybe PowerLedger as well.

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              ·  7 years ago 

            I have to read about PowerLedger. This coin keeps coming up in discussions but I don't know anything about it yet.

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