Bitcoin
Here are my opinions, make sure to take everything with a grain of salt;
Why not to invest into it
- It's currently rising
This should be enough to deter you from investing, right now bitcoin is on the rise, and we all know that it's pump n' dump. Once it peaks, it's going to fall, HARD. - The segwit update
Currently, the segwit update is waiting for miner approval, and is going to cause bitcoin to drop by at least 10% in my opinion. - Bitcoin is expensive
Right now, finding a good deal on bitcoin is hard, as you're usually paying a pretty hefty fee, usually a 10% markup or more, so you need to make sure you know what you're doing and not panic, because if you panic and sell the moment bitcoin drops 1% or so, then you're going to lose money.
Why you should invest into it
- Bitcoin is a GREAT longterm plan
Bitcoin is going to rise, there's no doubt about it, just from 2016-2017, it more than TRIPLED, and now it's a lot higher. So if you're going to invest into bitcoin, make sure it's for LONG TERM - Bitcoin is stable
Sure, bitcoin is maybe not as stable as the stocks on the official market, but bitcoin is less volatile than any other cryptocurrency, so you don't have to worry about it dropping too low - Bitcoin is increasing in adoption
Hundreds of thousands of stores are adopting bitcoin, and now you can pay by just scanning a QR code in most stores, and it's just going to increase, which is increasing bitcoins value at the same time
Ethereum
So is ethereum a better alternative than bitcoin?
Why not to invest into it
- Bubble
Cryptocurrencies are currently in a bubble, a couple years down the line when it pops, people are going to lose A LOT of money, and ethereum isn't exactly the most stable cryptocurrency - Hacks
At around 12:00 PST on the 21st of June, there was a massive hack, where a blackhat exploited a critical flaw in the Parity multi-signature wallet on the ethereum network, draining three MASSIVE wallets, worth $31,000,000. This caused ethereums price to plumit. And there have been many more reported cases of this happening. - It's currently on the downfall
Sure, it rose by a couple percent in the past week, but compared to a couple months ago where it was worth $400 (it's $200 now), that's a huge difference.
Why you should invest into it
- Bubble
Yes, even though there is a bubble, it is still profitable to invest into ethereum short term, shorting ethereum in my opinion, is the most profitable way to make money off of it - Shorting
Ethereum right now has dropped, which is why it would be a great idea to buy it, in hopes that it will rise in the next couple months along bitcoin.
Steemit
The big one! Should you invest into steemit or not?
Why not to invest into it
- Social media
Even though the concept is great, becoming a big competitor in the social media gig is very hard. For steemit to become a popular social media site, it will need to attract a large fanbase so that it can have a loyal community - It's not a good long term plan
Steemit isn't like bitcoin or ethereum, it's a new cryptocurrency and is extremely volatile, it wouldn't be surprising if steemit just dropped 10% in one day, or rose 10% in one day
Why you should invest into it
- Steemit is a wonderful idea!
It's very unique, and has attracted a large fanbase to it! Giving steemit a very home-y feel.
- Steemit is rising
Jumping on the bandwagon before it becomes popular is a great idea as steemit is rising due to it's adoption by some big social media stars and is a great investment opportunity - Short term investment
Steemit is a great short term investment, growing 50% more this week than the last one, and is only going to grow, it is extremely volatile, so it jumping in price suddenly wouldn't be a big surprise.
Nice pros and cons. I like the detail, maybe next post do some different currencies and assets? I do BTC price forecasting : https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-7-24-2017 check it out and let me know what you think
Solid article. Good to see I'm not the only one that is thinking about this. The future is in blockchain. Crypto prices might be inflated now but the market will find it's way just like it did with the Internet boom. We really need more insights in the market and previous investment results (even though they don't deliver any guarantee for the future). This is quite an interesting website I found: https://www.coincheckup.com The site is my go to place for crypto investment analaysis and indepth coin research.
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