What do I invest in

in #blockchain6 years ago

I figured it would be a good time for a post like this.

There's some green on the horizon and a lot of people believe this to be the end of the bear market. I'm not saying it has to be, the charts have often proven to swing like half moons but if it is I would like to point out some things I would look out for when deciding to place my money into blockchain technologies. I want you to know though that this should not be taken as financial advice, prior events do not have to be repeated and even though I've been involved in this space for a long time doesn't mean it can surprise us all at any time.

What I can tell you though, that here on Steem you gotta be careful who you listen to. Especially at times like these where promotional votes are easy to be attained and advertising has never been this beneficial anywhere else in time and or history. I'm talking of course about accounts being able to buy themselves to the front-page with little to no risk. Make sure to check account age, amount of genuine followers and the accounts history before you decide to trust someone even with a little value. At times like these there are more people out there trying to sell you rat poison than they are trying to teach you something valuable. I've mentioned this before but for newcomers please be aware that people advertising on a decentralized blockchain are often exempt from laws, such as not having to disclose if what they are promoting is being paid for by someone else.

Having said that, I'm not going to go into detail about what exactly you should be investing in. I did something similar last year where I recommended certain projects and if you want to look into that in more detail and how some of those did, feel free to google "steemit acidyo alt-news" and you will find the posts in question. These were not just flat out recommendations of what to purchase and why, it was more about personal opinion of what could be a good purchase combined with news that came out about those projects at the time. Things may have changed since then as time in the crypto space moves fast.

With Bakkt around the corner, Fidelity setting up the infrastructure for institutional money and the VanEck ETF maybe about to be approved. This could be a good time to get in on those long term trades and investments. Things that you should look out for are in order of importance: age and stability of the blockchain, distribution of wealth, uniqueness of the technology, uniqueness of what they are trying to solve and most importantly; does this project need a blockchain.

There are many projects out there that may still be alive today after the ICO craze of 2017, barely surviving looking to continue drag money into their project when in reality its just the early buyers or owners trying to trade it in for another currency. There are many who just put the name blockchain behind their idea even though that idea may not need the advantages a blockchain gives to work in the real world. There are many building up fake volume and making themselves look important when in reality they are just using the low fees it costs to trade coins back and forth and there are many who are just copycats of something that existed before them and are pretending to do it better.

You have to try and look at it from the perspective of the early web combined with the dot com bubble. The majority of companies and ideas that sprung to life back then did not last very long so similar to that you have to imagine which of these projects are going to exist in 2, 5 or 10 years. I know that if you are a newcomer this is a difficult thing to judge especially if you have no idea what to look out for or where to do research or who to trust, that's why I'm making this post trying to highlight some of the key reasons of what makes a project worth the time put into it. I'd love to say "trust no one" cause everyone is out to get you, but that is not the full truth, there are people out there that have been in this space for a long time and don't need to sell their project so they can empty the bags they've been holding for years to you. It is hard to find them but on a decentralized platform such as Steem where no one can be censored would be a good place to look for some. Trust me, most of the other platforms will not make things easier for you at all. If you can though just do research on your own terms and keep the reasons of why this blockchain is needed that I mentioned earlier in the back of your head.

I am not going to get into ICO's in this post, it might be a good time to look for some good ones if this is the bottom of the bear market but at a time like this there are plenty of decent projects already existing that there might not be a need for new ones no matter how promising they are. I'm not saying there may not be a new one in the making that may bring in astronomical returns such as Bitcoin, Ethereum, etc have done in the past - but it will be a lot harder because the thing with open source blockchains is that many of them can improve. Some may be too old and the tech may not be able to be improved the same way, but some of those are okay with it as they will be able to do what they are set out to do with the tech they currently have.

I may start making posts about projects that I myself an invested in and explain my reasoning but I am not sure how big of an interest there is nor if I have the time for it as of now. Feel free to let me know in the comments what you think and if you have any questions about this post.

I'm gonna call it here and write a second part about fundamentals in the near future, hope this was of value to some of the new people in this space. I know that Steem is a great gateway for newcomers into blockchain thus I believe its important for those people to get a basic guide of what to look for if they are interested in getting skin in the blockchain game.


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I’m also cautiously optimistic at this point because i have never seen prices this “stable” before which might mean we could have a relatively stable bottom to stand on moving forward. I don’t see any real craze or bull run coming anytime soon though, but rather a steady growth for those projects that have the fundamentals, like you say, to be here 3, 4 or 10 years from now. The great thing about Steem is that I don’t feel any real hurry, rather the opposite, as I can slowly gain a bigger stake as we slowly move upwards.

I may start making posts about projects that I myself an invested in and explain my reasoning but I am not sure how big of an interest there is

It would be great to read that kind of articles, I really hope you can find the time to write them.

It would be interesting to know what other projects you are investing in, the only other project I follow up closely is Espers Coin, their goal is to build a fully decentralized internet and that aligns with my interest so I've buying a spare coin here and there when I'm able hoping that they succeed, they are a bit behind on their roadmap but their devs are always active and there are always some updates here and there to their wallet and their chain.

Otherwise I'm almost 100% into Steem lol and getting them sweet eth airdrops when they look legit.

I started out pretty slow and bought into LTC as my first crypto. It went up up up, then came down down down. I still like it though and I still hold a bit of it. I love the speed and low cost of transactions. It is usually my go-to currency when I am looking to convert into something else. I can easily buy it on Coinbase and then covert to whatever I want from there. I'd be interested in hearing your evaluation and take on what newcomers should maybe invest in. Even though I am not really a newcomer, I still feel we can all learn something no matter our experience.

it just matter of time to pick up most of the things about crypto. we all are learning through out the journey.

I have followed you from the first weeks i joined! I trust your judgement on crypto things and i have loved the tips you have stated above here like "does the project need a blockchain??"

How should determine the validity of a project through its distribution of wealth?

I would also be happy if you shared the projects you investing in.

How should determine the validity of a project through its distribution of wealth?

A friend of mine was scammed into investing in a project like Bitconnect. It was easy to see for me from the beginning that if you give them your fiat in exchange for a shitcoin that is only useful in that project, for a price determined by the staff and not by the market, you're giving away value for "certificates of value" that are only worth what the owners want them to be worth. It's like changing gold for dirt and then getting mad that nobody wants your dirt.

This below is a great take way for me

If you give them your fiat in exchange for a shitcoin that is only useful in that project, for a price determined by the staff and not by the market.

I'm with you on the idea of not investing in ICOs. Of course, my government has terrified everyone out of letting Americans who aren't accredited investors invest in them anyway, so maybe I really have no choice. There's only one that I really wanted to have gotten to invest in, tZero. I will just have to wait until it becomes available on regular exchanges about a year from now.

With most ICOs if you just wait until they are on exchanges, if it was a good project to begin with you'll still do well. There's a lot less risk that the project you support won't be able to get onto exchanges at all!

The tyranny of not letting you use your money for whatever you want, silly governments.

Well, they're the biggest holders of their own shitcoins. If people leave their project, I mean, exchange their fiat for other currencies, they lose out. It's no wonder they try so hard to keep their users. :3

Fiats are shitcoins all along lol

Fiat is the OG shitcoin by them self.

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Lovely analogy! We need to dump their shitcoins asap!

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I try not to get pissed off about it too often. But when you really think about it, it's infuriating!

Love posts like these that are actually smart, real and totally not full of naive hype.

I am looking forward to the second one.

A year ago, I was totally into the hype, feeling like I knew it all just because I was a Steemian. But alas... just hype. I bought so much shit and still holding lol. I can't wait to get rid of them asap.

Lol, I'm also holding some shitcoins :) But I didn't think I knew it all. I was just betting and "diversifying". Turns out the whole crypto market dumped. :D

Hey Acid. Would love to hear about some of the projects you are involved in and any reasoning behind it.

I dabble a bit here and there in other parts of the cryptoverse but, for better or worse, I’m betting the farm on the Steem blockchain.

Do you have a farm?

A suburban homestead. 😏

What's your favourite produce? Do you have animals?

We grew lots of peppers and tomatoes last year. Also lettuce, onions, kale, squash, cucumbers, and hops.

Just two cats and a dog. 😏

Maybe quail at some point?

Kale! That bitter plant! I don't know if it's only here, but every time I've been served that "curly lettuce", it has been a terror to swallow.

My grandmother loves squash :3 we have a lot here in Venezuela and she's always making squash and eggplant salads.

I've never heard of hops or quails. (I know one is a fruit and the other one is a bird haha)

I watched a documentary about China where dogs are bred for food. :(

Invest into Steemmonsters

:D

I believe I will make a lot, by just holding cards

I believe you're right.

I just sold some but holding a few for long term. ;)

I'm always buying and reselling because I want to do the daily quests but don't want to hold so much when I have so many expenses.