$200 gets you 4 Litecoins right now. What do you guys think about it's potential success down the road? Is it the new Bitcoin? I was thinking Ethereum but it's too high right now.
$200 gets you 4 Litecoins right now. What do you guys think about it's potential success down the road? Is it the new Bitcoin? I was thinking Ethereum but it's too high right now.
Why did you choose this one?
What do you see as the plusses/minuses of the different digital/crypto currencies?
Since fundamentally currency is just a medium of exchange, it doesn't really make sense that Ehereum is "too high" right now. At the end of the day the same amount of dollars/Etherium/Litecoin should be able to buy the same amount of goods, assuming similar adoption rates and transaction costs (But maybe that gets back to the second question I asked you).
Maybe you are buying for speculation reason, in which case I guess the present value doesn't really matter much...
BeatsbyJ wrote:
$200 gets you 4 Litecoins right now. What do you guys think about it's potential success down the road? Is it the new Bitcoin? I was thinking Ethereum but it's too high right now.
1. lol @ $200. talk to me when you have more than a pair of jeans invested
2. LTC is a promising but will never be ETH / bitcoin. High probability of failure on this coin, but the upside is fairly high.
3. You missed the ETH train. Wait until it dips below 100 to buy again.
4. Tezos is the hot new crypto. If you missed the ICO, I'm sorry for you. All signs point to huge returns when the coin is released for public trading.
Source: guy who's made several thousands in crypto in a few months and who speaks daily to guys who have made several million since February.
asdfg34 wrote:
1. lol @ $200. talk to me when you have more than a pair of jeans invested
LOL @ The person who spent $200 for a pair of jeans.
Not Really a Brojo wrote:
asdfg34 wrote:1. lol @ $200. talk to me when you have more than a pair of jeans invested
LOL @ The person who spent $200 for a pair of jeans.
when you invest in crypto, many doors open to you. enjoy your JNCO jeans, prole.
these currencies are meant to be used for transactions, not investing. I doubt any stores are ever going to take litecoin, therefor i think its destined to fail. Thats just the opinion of an outsider looking in. I have very little knowledge of the subject.
Jimmy21 wrote:
these currencies are meant to be used for transactions, not investing. I doubt any stores are ever going to take litecoin, therefor i think its destined to fail. Thats just the opinion of an outsider looking in. I have very little knowledge of the subject.
Hi Jimmy, you are aware that normal people have made millions of dollars in a matter of months investing in crypto, correct? A good friend of mine who's 28 and has a completely mundane job put 20k of his savings in Ethereum in February and recently sold his position for about a half million (pre-tax).
Hi Jimmy, you are aware that normal people have made millions of dollars in a matter of months investing in crypto, correct? A good friend of mine who's 28 and has a completely mundane job put 20k of his savings in Ethereum in February and recently sold his position for about a half million (pre-tax).
Yes, one data point from a guy on the internet who has a friend. Boy that's how you rebut a factual statement.
Currency (even those with the prefix 'crypto-') is not a sound investment. Tons of people go broke every year on the forex.
https://www.quora.com/What-percentage-of-Forex-traders-make-money-in-the-long-runplog wrote:
Hi Jimmy, you are aware that normal people have made millions of dollars in a matter of months investing in crypto, correct? A good friend of mine who's 28 and has a completely mundane job put 20k of his savings in Ethereum in February and recently sold his position for about a half million (pre-tax).Yes, one data point from a guy on the internet who has a friend. Boy that's how you rebut a factual statement.
Currency (even those with the prefix 'crypto-') is not a sound investment. Tons of people go broke every year on the forex.
https://www.quora.com/What-percentage-of-Forex-traders-make-money-in-the-long-run
You're an idiot. Forget the anecdotal evidence, the numbers don't like. Ethereum was $20 in February and hit $400 in June. If you invested $10,000 in February you'd have $200,000 in June, before taxes. The market cap of ETH is $18 billion, with a circulating supply of 93 million.
But sure, go ahead and get cucked on your 5% interest 401k - LOL!!! That sure sounds like a "sound investment" to me!
Past performance is no guarantee of future results.
The thing that is wrong with that statement is that Ethereum is not a currency, it is a platform upon which decentralized apps can be built upon, and Ether is the gas that you need to let these decentralized apps to run on the platform and also conduct smart contracts.
Litecoin and Bitcoin are meant to be currencies in the long-run but at the moment they are more of a store of value for trading into other alt coins and are not widely accepted in day to day life although that is changing quickly. Litecoin's advantage over bitcoin is that its transaction speed is about 4x faster than Bitcoin currently. In the future you can think of Litecoin as more of a debit card and Bitcoin as more of a savings account that you would use for bigger purchases.
I do think litecoin is a good investment. It has been one of the most stable alt-coins in the market for a while and is fairly undervalued compared to bitcoin. I have been invested in LTC and Eth for about a year now. And I actually made enough money off of a $300 dollar investment in ETH last year to pay off $30,000 of student loans this June. The thing about this market is that it is completely speculative and extremely risky especially if you do not know anything about cryptocurrency and are just looking at it like a normal stock market. It is much more volatile and much more unforgiving of trading mistakes.
If you're just now hearing about these coins/platforms from mainstream media I would wait a little while before putting anymore money into it. August first will be a big day for ETH, BTC, and LTC and the whole alt coin market because BTC could be having a potential hardfork and create two separate coins for BTC which will likely lead to most big investors losing confidence in it and the market going bear for a few months or even up to a year..
Long-Term cryptocurrency will most likely change the way we fundamentally interact with the internet and banking, and if researched properly can get you a better return on your money than just about anything out there.
Good luck in the markets, and make sure you put your LTC on an offline wallet and never leave more than you're comfortable with on an exchange.
crypto had a nice run this winter/spring, but is easing off now. I think it's worth moderate investment, unless your digging risk. Worth putting $500-$3000 into a sitting on for 6-18mo and see how it moves. I'd diversity across a few options, as individual volatility is a concern.
Cryptoguy wrote:
The thing that is wrong with that statement is that Ethereum is not a currency, it is a platform upon which decentralized apps can be built upon, and Ether is the gas that you need to let these decentralized apps to run on the platform and also conduct smart contracts.
Litecoin and Bitcoin are meant to be currencies in the long-run but at the moment they are more of a store of value for trading into other alt coins and are not widely accepted in day to day life although that is changing quickly. Litecoin's advantage over bitcoin is that its transaction speed is about 4x faster than Bitcoin currently. In the future you can think of Litecoin as more of a debit card and Bitcoin as more of a savings account that you would use for bigger purchases.
OK. I am not sure I understand that although I thank you for your attempt to explain it to me.
I am interested in cryptocurrency as a concept and believe they may well have a bright future. I am not personally so interested in speculating in them as an investment (partially because I simply lack the understanding of them to do so wisely).
BeatsbyJ wrote:
$200 gets you 4 Litecoins right now. What do you guys think about it's potential success down the road? Is it the new Bitcoin? I was thinking Ethereum but it's too high right now.
forget it and chk again in 2020.
200 is nothing. even it becomes zero.
BeatsbyJ wrote:
$200 gets you 4 Litecoins right now. What do you guys think about it's potential success down the road? Is it the new Bitcoin? I was thinking Ethereum but it's too high right now.
forget it and chk again in 2020.
200 is nothing. even it becomes zero.
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alt-currency speculation is driven by fixation on extreme luck.
To the moon baby!!
Gonna rocketship to the moon!!
Who will power the bitcoin transactions when the mining ends?