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RE: BITCOIN CONFUSION?? - I went to a Bitcoin meetup tonight, and I was disgusted, and happy at the same time.

in #bitcoin7 years ago (edited)

I heard this same thing from a family member of mine.

"I want to get into crypto too"

So they said they started at the top of the list on coinmarketcap.com and started going down the list in sequential order based on value.

That's hard to do when there are over 1300+ cryptocurrencies listed. So what do they do, they invest in the first 5 or 6 that "seem okay" and that's where they start.

I don't fault them for that... but that's not the real way to do it.

If you look at 2011, 2012, 2013, 2014, 2015 the top 20 cryptocurrencies today are much different. So if you start at the top of the list and work your way down without understanding pre-mines, ICO's, "selling an idea" without a functional prototype, you can lose a lot of money. :(

But... but! We have a roadmap! A whitepaper! GREAT graphics on a website.

Is that truly what people buy? roadmaps, whitepapers, and great graphics?

(Ahem, apparently they do... for now.... but not long-term. We'll get wiser and smarter.)