I figured it would be a good time for a post like this.
There's some green on the horizon and a lot of people believe this to be the end of the bear market. I'm not saying it has to be, the charts have often proven to swing like half moons but if it is I would like to point out some things I would look out for when deciding to place my money into blockchain technologies. I want you to know though that this should not be taken as financial advice, prior events do not have to be repeated and even though I've been involved in this space for a long time doesn't mean it can surprise us all at any time.
What I can tell you though, that here on Steem you gotta be careful who you listen to. Especially at times like these where promotional votes are easy to be attained and advertising has never been this beneficial anywhere else in time and or history. I'm talking of course about accounts being able to buy themselves to the front-page with little to no risk. Make sure to check account age, amount of genuine followers and the accounts history before you decide to trust someone even with a little value. At times like these there are more people out there trying to sell you rat poison than they are trying to teach you something valuable. I've mentioned this before but for newcomers please be aware that people advertising on a decentralized blockchain are often exempt from laws, such as not having to disclose if what they are promoting is being paid for by someone else.
Having said that, I'm not going to go into detail about what exactly you should be investing in. I did something similar last year where I recommended certain projects and if you want to look into that in more detail and how some of those did, feel free to google "steemit acidyo alt-news" and you will find the posts in question. These were not just flat out recommendations of what to purchase and why, it was more about personal opinion of what could be a good purchase combined with news that came out about those projects at the time. Things may have changed since then as time in the crypto space moves fast.
With Bakkt around the corner, Fidelity setting up the infrastructure for institutional money and the VanEck ETF maybe about to be approved. This could be a good time to get in on those long term trades and investments. Things that you should look out for are in order of importance: age and stability of the blockchain, distribution of wealth, uniqueness of the technology, uniqueness of what they are trying to solve and most importantly; does this project need a blockchain.
There are many projects out there that may still be alive today after the ICO craze of 2017, barely surviving looking to continue drag money into their project when in reality its just the early buyers or owners trying to trade it in for another currency. There are many who just put the name blockchain behind their idea even though that idea may not need the advantages a blockchain gives to work in the real world. There are many building up fake volume and making themselves look important when in reality they are just using the low fees it costs to trade coins back and forth and there are many who are just copycats of something that existed before them and are pretending to do it better.
You have to try and look at it from the perspective of the early web combined with the dot com bubble. The majority of companies and ideas that sprung to life back then did not last very long so similar to that you have to imagine which of these projects are going to exist in 2, 5 or 10 years. I know that if you are a newcomer this is a difficult thing to judge especially if you have no idea what to look out for or where to do research or who to trust, that's why I'm making this post trying to highlight some of the key reasons of what makes a project worth the time put into it. I'd love to say "trust no one" cause everyone is out to get you, but that is not the full truth, there are people out there that have been in this space for a long time and don't need to sell their project so they can empty the bags they've been holding for years to you. It is hard to find them but on a decentralized platform such as Steem where no one can be censored would be a good place to look for some. Trust me, most of the other platforms will not make things easier for you at all. If you can though just do research on your own terms and keep the reasons of why this blockchain is needed that I mentioned earlier in the back of your head.
I am not going to get into ICO's in this post, it might be a good time to look for some good ones if this is the bottom of the bear market but at a time like this there are plenty of decent projects already existing that there might not be a need for new ones no matter how promising they are. I'm not saying there may not be a new one in the making that may bring in astronomical returns such as Bitcoin, Ethereum, etc have done in the past - but it will be a lot harder because the thing with open source blockchains is that many of them can improve. Some may be too old and the tech may not be able to be improved the same way, but some of those are okay with it as they will be able to do what they are set out to do with the tech they currently have.
I may start making posts about projects that I myself an invested in and explain my reasoning but I am not sure how big of an interest there is nor if I have the time for it as of now. Feel free to let me know in the comments what you think and if you have any questions about this post.
I'm gonna call it here and write a second part about fundamentals in the near future, hope this was of value to some of the new people in this space. I know that Steem is a great gateway for newcomers into blockchain thus I believe its important for those people to get a basic guide of what to look for if they are interested in getting skin in the blockchain game.
[Image Source pixabay.com]
I’m also cautiously optimistic at this point because i have never seen prices this “stable” before which might mean we could have a relatively stable bottom to stand on moving forward. I don’t see any real craze or bull run coming anytime soon though, but rather a steady growth for those projects that have the fundamentals, like you say, to be here 3, 4 or 10 years from now. The great thing about Steem is that I don’t feel any real hurry, rather the opposite, as I can slowly gain a bigger stake as we slowly move upwards.
It would be great to read that kind of articles, I really hope you can find the time to write them.
It would be interesting to know what other projects you are investing in, the only other project I follow up closely is Espers Coin, their goal is to build a fully decentralized internet and that aligns with my interest so I've buying a spare coin here and there when I'm able hoping that they succeed, they are a bit behind on their roadmap but their devs are always active and there are always some updates here and there to their wallet and their chain.
Otherwise I'm almost 100% into Steem lol and getting them sweet eth airdrops when they look legit.
I started out pretty slow and bought into LTC as my first crypto. It went up up up, then came down down down. I still like it though and I still hold a bit of it. I love the speed and low cost of transactions. It is usually my go-to currency when I am looking to convert into something else. I can easily buy it on Coinbase and then covert to whatever I want from there. I'd be interested in hearing your evaluation and take on what newcomers should maybe invest in. Even though I am not really a newcomer, I still feel we can all learn something no matter our experience.
it just matter of time to pick up most of the things about crypto. we all are learning through out the journey.
I have followed you from the first weeks i joined! I trust your judgement on crypto things and i have loved the tips you have stated above here like "does the project need a blockchain??"
How should determine the validity of a project through its distribution of wealth?
I would also be happy if you shared the projects you investing in.
A friend of mine was scammed into investing in a project like Bitconnect. It was easy to see for me from the beginning that if you give them your fiat in exchange for a shitcoin that is only useful in that project, for a price determined by the staff and not by the market, you're giving away value for "certificates of value" that are only worth what the owners want them to be worth. It's like changing gold for dirt and then getting mad that nobody wants your dirt.
This below is a great take way for me
I'm with you on the idea of not investing in ICOs. Of course, my government has terrified everyone out of letting Americans who aren't accredited investors invest in them anyway, so maybe I really have no choice. There's only one that I really wanted to have gotten to invest in, tZero. I will just have to wait until it becomes available on regular exchanges about a year from now.
With most ICOs if you just wait until they are on exchanges, if it was a good project to begin with you'll still do well. There's a lot less risk that the project you support won't be able to get onto exchanges at all!
The tyranny of not letting you use your money for whatever you want, silly governments.
Well, they're the biggest holders of their own shitcoins. If people leave their project, I mean, exchange their fiat for other currencies, they lose out. It's no wonder they try so hard to keep their users. :3
Fiats are shitcoins all along lol
Fiat is the OG shitcoin by them self.
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Yep!
Lovely analogy! We need to dump their shitcoins asap!
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I try not to get pissed off about it too often. But when you really think about it, it's infuriating!
Love posts like these that are actually smart, real and totally not full of naive hype.
I am looking forward to the second one.
A year ago, I was totally into the hype, feeling like I knew it all just because I was a Steemian. But alas... just hype. I bought so much shit and still holding lol. I can't wait to get rid of them asap.
Lol, I'm also holding some shitcoins :) But I didn't think I knew it all. I was just betting and "diversifying". Turns out the whole crypto market dumped. :D
Hey Acid. Would love to hear about some of the projects you are involved in and any reasoning behind it.
I dabble a bit here and there in other parts of the cryptoverse but, for better or worse, I’m betting the farm on the Steem blockchain.
Do you have a farm?
A suburban homestead. 😏
What's your favourite produce? Do you have animals?
We grew lots of peppers and tomatoes last year. Also lettuce, onions, kale, squash, cucumbers, and hops.
Just two cats and a dog. 😏
Maybe quail at some point?
Kale! That bitter plant! I don't know if it's only here, but every time I've been served that "curly lettuce", it has been a terror to swallow.
My grandmother loves squash :3 we have a lot here in Venezuela and she's always making squash and eggplant salads.
I've never heard of hops or quails. (I know one is a fruit and the other one is a bird haha)
I watched a documentary about China where dogs are bred for food. :(
Invest into Steemmonsters
:D
I believe I will make a lot, by just holding cards
I believe you're right.
I just sold some but holding a few for long term. ;)
I'm always buying and reselling because I want to do the daily quests but don't want to hold so much when I have so many expenses.
Seems interesting.
I hope you're right and the bear market ends. As much as it has been good for getting a lot of the scams out of business and some time for people to take stock and consolidate. It had also stopped many genuine projects from going ahead with their launch. There is one London based Crypto that I am quite excited about, their white paper looks interesting, but I will hold off from writing about it until I get through all 40 pages and can provide some valuable insight!
Well I think you can link to what you're currently researching, if you give a proper disclaimer first. I'd even encourage everyone to do so (once again, with disclaimers) so that other may help with advice, point out advantages or similar projects.
That is, if you want to, of course :)
Maybe, I am just uncomfortable giving information out on something I don't have a good grasp on.
I've been advising some people to invest in Steem but even I am not sure if Steem will suddenly dump and lose them money. :D Things are so unpredictable in the cryptospace.
I would certainly love to hear what projects you're invested in and why. I like that topic, and I think that's why I'm here on Steem in the first place. :)
This is very interesting topic and I've been trying to do a trading experiment myself. As you said I not trusting people advertising certain coins or project but I would like to see which ones you like in a personal view. The idea of having more opinios specially that might be something the investor holds is what I really like. There are win and looses and everything counts at the end being transparent about those choises and moves from one project to another is what is driving my experiment. Most of my knowledge comes from reading people's opinion, doing my own research and at the end let my hunch help me decide which one should I get. Can't wait to see your opinions!
I want to build up some ethereum. It seems like it will benefit greatly when the bull run begins.
I would definitly like you talking about the posts that you are invested in as it would allow me to attain a different point of view on how investing should be done.
Thank you for this informative post. It helps us a lot. I appreciate your hard work. Good luck dear.
You got a 43.06% upvote from @ocdb courtesy of @acidyo!
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[disclaimer] Terrible investing advice from someone who doesn't invest:
As humans, poor and rich, what we're going to universally need in the future is:
So if you can find any prospective projects in those directions, those are the best safe/common sense ideas I heard of. Though that's more general investing and not so much crypto perhaps.
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STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard:
I've been involved in different crypto projects but I'm fully tethered now. Looking for some wonderful and promising projects to invest on. It'll be very useful to read about your analysis and projects you're investing on as well.
Thanks @acidyo!
Well this time investing in crypto is too risky at all. But we should take the risk if the project that we invested is really worth it. Mine i invested in cv for almost 3 mos now and i didnt invest just for its value even price in crypto but also its benefits that brings in the society. Just like this new app released which someday should become an irreplaceable tool for millions of drivers around the globe. Lets start with a global unified solution for automatic car parking. Find it here : https://www.carvertical.com/blog/autonomous-future-bringing-iot-benefits-to-everyday-life
I made a post 4 ago asking for suggestions regarding, Investment tips, promising cryptos, passive income streams, great courses either free or charged. I could boost this post but i don't use bid-bots services ( i am against it) and it could easily go to the trending page and i dare to say it would be an extremely useful post for everyone if people answered.
As you can imagine mostly nobody answer, the same loyal follower upvote it and thus it seemed like an everyday post without an actual value. I will post it here just in case someone actually reply something useful or even you in best case scenario but if you consider it as promotion and stuff let me know so i can edit and delete the link
https://steemit.com/money/@filotasriza3/investment-crypto-courses-passive-income-streams-what-is-your-suggestions
Now as far as it concerns what you said i would love to see future posts of yours regarding projects that you invested and i think those would be helpful to anyone reading them! even to the future readers that might read it, it will hold value!
Certainly we must be careful in what we decided to invest our money as well as the business may seem good can also be part of something bad, in addition to maintaining the positivism that the market change for good with coins
Nice write up, i do recommend you invest a fraction into creating physical assets apart from blockchain investment, you can open a recreational center that improves emotional and general well being of people in your city and do not forget digital marketing for your recreational center.
Very important alert for all beginners...
"At times like these there are more people out there trying to sell you rat poison than they are trying to teach you something valuable."
In terms of ICO's I would love to hear/read your opinion on what is the best right now, I've also been looking for some of them about to happen.
this is a nice article and I'm looking forward to your future post about some projects or anything about crypto because I'm also writing about it. I'm interested in learning something new from you soon.
Let me start by saying thank you for the upvote I really appreciate it keep up the good work 👏
Congratulations @acidyo!
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Crypto and CBD oil.
Lately I have been scared what project to invest and what ICO will suits me then I found a beneficial project that helps me a lot. I've been struggling when we talked about car parking but when I heard and research how carVertical can change the way I deal with it, I found out that it was really helpful and significant answer to my problems. Now they came up with newly launched app that brings IOTA benefits in real life. Huge project, investment worthy and beneficial. Look how its working https://bit.ly/2RHYemj
i am new in the cryto world please i will love to get your suggestion on the coin to invest on
You need to invest so that your future has a good path. Anyways, If you want to invest read this first and buy. carvertical.com/blog/autonomous-future-bringing-iot-benefits-to-everyday-life This project can help u to change your life into a better.
I got that?