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RE: Are You Committing This Crypto Investing Sin?

in #bitcoin7 years ago (edited)

I really like some of your points especially on sticking to competence and educating oneself before investing but then at the end, you are kind of limiting and pushing people towards few coins in your eyes top proven currencies.
At the beginning, if people where limited themselves to Bitcoin we wouldn't have Etherium or other big ALt coins that solved problems and made a lot of money to many people. People always come with good ideas and they try to bring them into reality you and I may not predict but some may, in the process some will succeed some will fail which is normal.
Currently, we have more than thousand currencies listed and thousands of ICOs in the process and nobody knows which ones will remain be on the top or most profitable only time will tell so it would have been better if your conclusion was more of encouraging people to educate themselves and to make an educated decision rather than kind of I know so you should put your money here kind of advaise.
I hope you won't take it personal.

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I never take anything personal. My better advice may have been not to invest in cryptocurrencies AT ALL if your circle of competence is too small. Note I don't even like Ripple in the long-term, yet I still have it recommended here because the market has given it a lot of validation. I mention later in the video that this is also, in its own way, contributing to the bubble so really the only way to avoid damaging yourself too much is to expand that circle of competence.