"THIS Penny Crypto Coin Is About To Take Off!"

Scataphagos

Scataphagos

That's what some say who are soliciting for crypto traders to subscribe to newsletters.

Seems to me... there are sooooo many cryptos out there (and about 50 new ones each week)... and only a relatively few that are doing well/great.

How could any analysis determine which cryptos will soon catch fire? It would be great if somebody could do that... but I can't imagine.

Ideas?
 
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It is public venture capital in competing computer science experiments. Which one do you think has the most potential?
 
just21 said:
It is public venture capital in competing computer science experiments. Which one do you think has the most potential?
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I don't see the huge majority of the cryptos having any "economic" potential at all... just "hoping" to catch on like BTC. (I saw one touted as, "for the mobile, iPhone crowd... have our crypto coin on your potable device, readily available to buy stuff". 2 problems with that. (1) merchants accepting that coin in payment, and (2) it's little different from a debit card in convenience. IOW... its "stated purpose and the reason it will attract a following is flawed".)

For the crypto to take off, it needs a "purpose" to support it. Only a few have that.

I wouldn't mind taking a flier in some cryptos if I could relate "reasons for particular ones", but it seems the most likely way (hope?) to be successful is to "buy 20 of them and hope one takes off... the rest will bust out". Frankly, that's not my game.

BTC "is what it is"... not denying that. But I'm not yet buying the notion, "cryptos are good just because of BTC".
 
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Scataphagos said:
I don't see the huge majority of the cryptos having any "economic" potential at all... just "hoping" to catch on like BTC. (
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Some of them have characteristics that are better than bitcoin. Look at monero and dash. You are right, there is no reason to buy most of them as they are not better than bitcoin. I am looking for a more efficient blockchain that does not take 1.8 barrels of oil to make a coin like bitcoin does.
 
just21 said:
Some of them have characteristics that are better than bitcoin. Look at monero and dash. You are right, there is no reason to buy most of them as they are not better than bitcoin. I am looking for a more efficient blockchain that does not take 1.8 barrels of oil to make a coin like bitcoin does.
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So... what is the "reason" to buy Monero or Dash? What would be the "driver of price"? (We all know the driver of price for BTC... money laundering, of one sort or another. What do Monero and Dash have going for them to drive their prices higher?? For 99% of the cryptos, I don't see any driver of price other than speculation and hope. Please, correct me if I'm wrong.... and tell me where I should focus.)

The "function/purpose" of BTC... it that a "vehicle of use" has latched on to it. Didn't start out that way, just caught on. So... for all BTC investors... you didn't "hit the market", the "market hit you". Good fortune. Luck is part of investing too.

But what about the rest of the cryptos? Is there going to be a swelling of sentiment to them from the general population? That would be the only way the entire universe of cryptos would rise... and at the rejection of what's in place now.

While BTC "is what it is"... it's not representative of "all of the crypto universe".

What say you?
 
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just21 said:
You got to do some work yourself!
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Pffft!

How do you "dig out" which cryptos to buy and which to avoid? You need to do better than "do your homework". My take at this time is that there is not "homework to be done". Nobody knows CRAP about which cryptos will be good among the huge field of fails.
 
just21 said:
Would you buy a stock on a tip?
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Same thing.

You can't even "read the charts" on 99% of the cryptos... they're virtually all in strong "down trends."... smacks of scam all around except for the biggies.
 
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