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RE: Crypto for beginners

in #crypto6 years ago

Stock markets are heavily regulated, crypto markets aren't.

Those regulations can cause a massive amount of overhead, but there are positive sides to it as well, it does prevent some kind of scams and it does protect the investor to some extent. I think it's perfectly sane to throw some investment money on 20 randomly chosen stock companies on a well-working well-regulated stock market. The same cannot be said about cryptos. There are more than 1500 crypto currencies and ICO-tokens registered on CoinMarketCap, and I believe probably more than half of them are outright scams, and probably more than half of those that aren't scams will be worthless in some few years. Hence, I think it's a very bad idea to invest in cryptos far down on the list without doing some good due diligence first (and every now and then, outright scams like BitConnect tend to bubble up on the top-five list ... or "promising new technology" like IOTA, apparently with nobody bothering to do a proper quality assessment.

Bitcoiners used to be proud saying that Bitcoin was inflation-resistant, since one could be sure that no more than 21 million btc would ever be mined - however, the crypto currency space as such is NOT inflation-resistant, with new crypto currencies being produced on a daily basis. It's for sure not healthy.

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Yeh your right about the random coins, and really i have no clue anymore whats a scam and whats not lol. But cash will crumble soon enough thats certain,so i buy crypto. I placed them all on a small profit sell order a long time ago and will check cryptopia in the summer haha.. As for the IOTA, im not wanting this to happen and i havent got any because of that reason. The chinease tokens are interesting and obviously ETH, and ones to do with AI. AI is soon to be common place everywhere. Im looking at cryptos like a saving scheme, and a video game where i can win for playing and after 3 years max ill get physical silver with the crypto and leave it at that ☺If i am to be really offgrid in the future, then i know for example that the internet could be unaccesable for people not living in AI Smart citys.. And thus no acess to 'freemarkets'

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