Anyone know about "making the market"?
I heard this term but I am already seeing the wrong kind of results when I search so thought I could reach out here and see if someone trustworthy has some experience to share!
Heard someone talk about supporting a project by doing something in the order book one way to acquire tokens instead of another way. This made me curious because I have thought I was helping simply buy getting tokens. If you have experience with day trading and order books and project support, can you give me your thoughts on this? is there any benefit to saying "I will buy 100 tokens" instead of going to someone saying "I will sell 100 tokens" and paying them? Can you explain how this changes the outcome or benefit to the project itself?
Another semi-related question for any cryptopreneurs out there: what is the shortest path to making enough income "in crypto" to quit your job and go full time? Would love to hear from anyone who went from a day job to crypto like this!
Thanks in advance for any input :D
The steemit way would be to become a great author and have some sense of market economy, just because nobody gives anything here for free, you have to beat them to the punch, I was practically begging someone to buy me tokens ad extend some courtesy when the price was ~.20 cents, nobody gives 2 cents of a crap so that is it, get involved in the "market" either by developing or by authoring and socializing, or you can trade, those are the best options I can name, check @surfermarly or @trafalgar for authors, there are many great ones but I won't list everyone, currently these two are the trendiest in my view, for developers check out @furion, or any of the witnesses supporting the blockchain, most of them have developed one or more apps.
There is no short route if you don't want to fall short :) it' best to cover all of your bases.
Why were you begging someone to buy you tokens? Maybe there is a deeper root cause there. Is there any expectation that something should be available for free? This is always the most curious part about the intersection of open-source and capitalism.
hah well when you have some easy pickings (steem was .20 now it's 2.20) exactly so a 2per piece gain, so for 100usd you'd get 500 steem, and selling it now would give you 1100 so a 1k gain, with a lousy 100, I'm sure that would have been great for me :D the root cause is my root canal :D
I'm still weighing the options, I like open source but I don't think it's viable without a supportive community, I do believe most things should be free, but I also see the other side of how gating actually makes you work harder and more, thus making you smarter and stronger in a sense. Still there is never a "free lunch" either way you have to earn it, and it always costs something(trust, time, commitment, ..)
https://steemit.com/financial-freedom/@shla-rafia/shla-rafia-s-3-easy-steps-for-runaways-to-profit-from-the-cryptocurrency-boom
Interesting style. I do not agree with the premise though which is that one should gamble on altcoins without knowing anything about currencies or day trading. There is of course money to be made but this sort of thing only reinforces the debilitating reliance on currency as a reaction to fear rather than a means of building a life. how can a runaway eat three meals a day while waiting for SIA or some other penny coin to have an increase in market cap? let's say for the sake of debate that t goes up 4000% overnight. now the runaway can only benefit in the real world by selling their stake? this just decreases the SIA market cap as the runaway no longer has incentive to participate. what's the point of all this? this just increases the market cap of fiat, doesn't it? all the while encouraging speculative betting on alts, without research, in order to convert back to fiat, to get out of a jam? idk, it just seems poorly thought out as an idea to me, but I am glad that they wrote it with seemingly good intent. thanks for sharing :)
yeah, you will see many people hungry and not thinking about anything other than profits, that is the problem with some people, lack of long-term planing, and expectations of a wonder and finally hitting it big with something, one of the reasons gambling is so pervasive.
Now that I've read it I have to say It's as edgy as shla is I suppose. He is right in the middle. But of course there are more stable ways, but practically the gains of 4000 aren't that much still getting 4000 where you once had 100 is a big deal, and the market cap won't fall that much since if there is interest people are buying the coin for fiat, so the fiat goes in and the coin stays in anyway it just changes places(think of it in the case of domain names, you can register one for 2 dollars and sell it for a few thousands later down the road, maybe millions if the business is set-up ). If everybody was to sell that could be a problem. But most people buy and hold for whatever reason(which is a good thing) so yeah.