Cryptocurrencies - General Thread

Since I believe that crypto is the future, I decided to get involved. Both in mining and in investments. I am wondering if anyone else here is invested into it and what they are holding and have interest in.

I'll start:
I mine Ethereum and ZIL, and I purchase CRO, Raven and ADA. I stake both CRO and Cardano.

And it crashed, immediately -20% plunged and recovered to -10% in a few hours.

The president of El Salvador has implied that the elites are behind the crash.
Sound convincing to me, what can spoil the party better than a price crash on day 1 of being a legal tender.

It's too many pricing ups & downs for comfort, based mainly on speculative patterns.

Bitcoin is like Dutch tulips from the 1600s. It is not money it is a speculative item.

People rag on fiat as if it is the source of all problems. It is just a paper voucher of exchange that is not supposed to have any
intrinsic value. Using gold sounds good until you give it some thought. As in the good old days centuries ago, gold coin
will be cut from around the edges degrading the currency directly. It is also a finite pool that cannot be scaled with the
economy. Printing fiat is justified from macroeconomic considerations. Assorted idiots always compare the economy to some
corner convenience store. This comparison is retarded. Money is conserved only on the microeconomy scale.

Gold backed fiat advantage was that there was a penalty for Pancho Villa and quantitative easing style printing of money.
It was not the gold.

Bitcoin fully depends on what the market prices it at. Fiat currency only changes "value" if it is overprinted. The foreign
exchange rate is not relevant even though millions think it is a measure of the size of the economy of a country. This is
partly correct only for import dependent banana republics.

El Salvador should have used bitcoin as a type of reserve asset like gold. The price of gold goes up and down. Bitcoin
is not coin.

kvs wrote:Bitcoin is like Dutch tulips from the 1600s.   It is not money it is a speculative item.  

People rag on fiat as if it is the source of all problems.   It is just a paper voucher of exchange that is not supposed to have any
intrinsic value.   Using gold sounds good until you give it some thought.   As in the good old days centuries ago, gold coin
will be cut from around the edges degrading the currency directly.   It is also a finite pool that cannot be scaled with the
economy.   Printing fiat is justified from macroeconomic considerations.   Assorted idiots always compare the economy to some
corner convenience store.   This comparison is retarded.   Money is conserved only on the microeconomy scale.  

Gold backed fiat advantage was that there was a penalty for Pancho Villa and quantitative easing style printing of money.  
It was not the gold.  

Bitcoin fully depends on what the market prices it at.   Fiat currency only changes "value" if it is overprinted.   The foreign
exchange rate is not relevant even though millions think it is a measure of the size of the economy of a country.   This is
partly correct only for import dependent banana republics.  

El Salvador should have used bitcoin as a type of reserve asset like gold.   The price of gold goes up and down.   Bitcoin
is not coin.

Bitcoin is. Other coins like Ergo, Cardano, etc are smart contract based.

I am thinking of investing in some long shot crypto. So far I have narrowed the field to $GRT, $Luna, $Link, and $Ocean. Programming and development is not my background however. Any insights??

There is a hamster on YT proved to be quite effective, it might be a good path to follow:lol:

Some to keep an eye on: Algorand, ERGO, Cardano (ADA), Avalanche.

Ravencoin will be going through a halving in January which could see a rather good increase in value as same happened for various other coins in the past (BTC as example). Ergo because of its smart contracts and open source community driven blockchain. Algo is rather becoming popular, among with Nano, for fast and cheap transfer rates. Cardano (ADA) because its lower price and demand in poorer countries with the Cardano team working hard to promote it and recently working with chainlink.

I suggest watching this guy:
https://www.coinbureau.com/videos/

Best advice is not too listen to goldbugs.

Nothing is annoying as a salty goldbug that has missed the boat and he's now projecting his lack of assessment onto you

As for the actual advice : don't do trading. Trading will get you burnt eventually, especially if you are a newcomer.

Don't do shitcoins either. Or only as 10-15 percent of your portfolio. Invest in ETH, BTC instead. Maybe DeFi on top of that. Put there, forgot about it for a year or so and then pick the fruit

Crypto will be the best inflation hedge so even if the numbers stay the same (which they won't) you'll still gain.