I wish that I had a better understanding of computer programming and the like, for it is becoming increasingly obvious to me that the wave of the future is going to be cryptocurrency. But being a noob has presented a number of daunting challenges that have proved to be most difficult. I have heard all the hype and listened to everyone from financial analysts, computer programmers, speculators, promoters, you name it. There is little doubt that one of the many new entrys into next years dictionary may well prove to make some people very wealthy. But which horse do you bet on? If you look at the current champion bitcoin you see a sturdy solid winner that has a proven track record and the safest bet as well. But you also see a very expensive bet! Then you see ethereum being touted by all of the bookies as having the best chance of overtaking the reigning champ. But wait, there is a new entry on the scene, litecoin, or what about veritas? Surely it is the one with the most promise, it will make contracts obsolete they say, thus rendering bankers unnecessary. That alone gets my vote. I could go on and on and like you will continue to do research but there comes a point when one can be tempted to throw in the towel and just give up. Unlike the unlimited amount of new entrys my wallet is quite limited. In the mean time if somebody out there has a prophetic gift and knows which coin is best to invest in please respond to this pitiful cry for help!
I don't have much technical understanding either. But I've been observing crypto for a while now.
BTC went from $300 to $3,000
ETH went from $30 to $300
LTC went from $3 to $40
I missed the BitCoin train, I missed the Ethereum, but I took the LTC train.
If you think in central bank money ( fiat ), then LTC gave you the highest profit. And you can also make good money with seemingly worthless currencies like DogeCoin, ByteCoin and the likes. They are cheap to buy, meaning there is practically no risk involved. You buy a good amount for very little money and just hold on to it. Let's take DogeCoin for example. I don't know the exact price, but let's say it's $0.001. You buy 10,000 DOGE for $10. The risk is that you loose $9.99 max. It will never go to zero, because then somebody would buy ALL of them, driving the price up.
But let's say it goes up from $0.001 to $0.01. You made $90. If for some reason it goes up to only $10, you made $99,990.
The assumption is that people will try to catch the smaller trains. BitCoin has already left the station. Compare the odds:
If you buy $10 worth of BitCoin and it goes from now $2500 to $5000 you make $10.
In order for you to make $100,000 with BitCoin, it would have to hit $250,000. But once that happens, you know that a can of coke in your local grocery store will be costing at last $1000.
And the more people realize that these are the trains to freedom from central bank currencies, the more people will jump on whatever train will be available.
That's why I always just sell one third of my coins once the price is three times what it was when I bought it. That gives me my original investment back and I buy some other coins.
Within two months I sixfolded my original investment that way. And if everything goes wrong I lost $10. I think that's OK. If only one of these currencies just goes over $10 I made it.
And if you want to start without investing anything, here's some sort of instruction manual. It gives you $10 worth of BitCoin on CoinBase when you sign up.
AltCoin Flipping
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