COINBASE for Crypto has come
Clinamenic
Binary & Tweed
Yes and I'm happy for toko. We need more nerdonauts here.
luka
Well-known member
sure, just make sure he understands he is nerdonaut number 2 with no hope of promotion.
Clinamenic
Binary & Tweed
I'd like to think that needs no assertion.
Clinamenic
Binary & Tweed
luka
Well-known member
you need a financial advisor like Stan or his arch-rival Tokomy cryptos are shit, only going down
Clinamenic
Binary & Tweed
Whats your timeframe for profit? Are you trading to make a profit, or hodling?my cryptos are shit, only going down
Clinamenic
Binary & Tweed
For example, I'm looking to hold onto these assets for several decades, while earning interest or some other form of passive income through them. Ideally once my body decays these assets will be passed onto someone(s) else who can benefit from passive income.
This, coupled with the fact that I'm not investing with funds that are needed for living expenses, and that I make sure I believe in and understand what I am investing in, means that the bear markets have no lasting effect on me.
This, coupled with the fact that I'm not investing with funds that are needed for living expenses, and that I make sure I believe in and understand what I am investing in, means that the bear markets have no lasting effect on me.
yyaldrin
in je ogen waait de wind
how much would i need to invest for this strategy to work? atm i have everything invested in xrp and link but it's just going up and down up and down up and down everyday, except for each time a little bit more down than up
Clinamenic
Binary & Tweed
You can look into lending platforms like Nexo, Celsius, etc. I know Nexo offers 5% interest on LINK and I think XRP too.
But only do it if you are comfortable with the risks entailed by their business model. Personally I'm comfortable with it, but we may differ in our opinions here.
As for how much to invest: as much as you can set aside from living expenses for the foreseeable future. Also if you aren't already, only buy using limit orders, set for below whatever the current market price is.
My investment in LINK is currently -33%, because my first investments were made at market price around $27 dollars. But what I understand of Chainlink and the utility of the token, is more than enough to quell my doubts.
But only do it if you are comfortable with the risks entailed by their business model. Personally I'm comfortable with it, but we may differ in our opinions here.
As for how much to invest: as much as you can set aside from living expenses for the foreseeable future. Also if you aren't already, only buy using limit orders, set for below whatever the current market price is.
My investment in LINK is currently -33%, because my first investments were made at market price around $27 dollars. But what I understand of Chainlink and the utility of the token, is more than enough to quell my doubts.
Clinamenic
Binary & Tweed
What you are investing in here, or what you are trying to invest in here, are components of the future architecture of the internet.
The utility a token has within the context of its protocol, as well as the use value of the protocol itself, are arguably the two central things you should be analyzing when considering an investment in crypto.
The utility a token has within the context of its protocol, as well as the use value of the protocol itself, are arguably the two central things you should be analyzing when considering an investment in crypto.
luka
Well-known member
or what enough people will guess will be the components of the future architecture. makes no difference.
Clinamenic
Binary & Tweed
Pyramid schemes by definition aren't decentralized, but some of the companies/foundations behind these blockchains or blockchain apps are centralized, so its a case-by-case assessment. Personally I don't know much about XRP and Ripple, and I've been staying away from them largely because of their conflict with the SEC.
Clinamenic
Binary & Tweed
True, but if people guess wrong, and high bets are placed on protocols that don't end up being integral to the internet, then the investment will be far less sound.
Clinamenic
Binary & Tweed
But in the short term, you're right: actual eventual value and supposed eventual value are largely indistinguishable. Its a matter of speculation, however informed or ill-informed.
Clinamenic
Binary & Tweed
Crypto is still a super frothy market because of A) the temptations brought on by parabolic profits, and B) almost nobody understands what they are investing in and are thus much more susceptible to fear and doubt.
Clinamenic
Binary & Tweed
Whereas I was once at +100% and also once at around -50%.