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RE: Paradigm shift from Bitcoin to Bitshares
Are you affiliated with a marketing campaign or BitShares? How heavily are you invested in BTS yourself?
Sorry for asking these questions, but directing an article towards Crypto newbies and then blatantly shilling a specific coin can easily mislead some inexperienced investors.
Don't get me wrong BitShares might be an alright project, but I myself for example are down 85% of my initial (minor) investment in June.
Hi schwmm, sorry to hear that.
I understand your concern, I doubt that it makes you feel better, but I lost a lot of money years ago by making bad investments in the cryptoworld.
But they were mainly mistakes I made due to greed, impatience and bad luck.
When you jump in crypto you have to make your own decisions, you can't hold anyone responsible but yourself.
I also think that most people should probably know by now things are very vollatile.
I am not asking to invest, although I hope you will and I am just a steemer who has a big interest in BitShares mainly because I am invested into BitShares and also for idealistic reasons.
My idealistic reasons for choosing BitShares: I hate what the current monetary system does to everyone around us, I want to see it changed.
Any monetary system usually implodes on itself leaving everyone hanging apart from the wealthiest, why not give BitShares a revolutionary system a chance. It could work, I want it to work and I prefer doing my own finances anyway.
Taking investment risks, I am willing to take based on a fair system, not something that is backed up by debt and air.
Will BitShares have it's flaws as an economic system, most likely but I strongly belief the system is not build on greed. I believe in @stan, just based on what he writes and says.
In order to give it a try I didn't invest more than I am willing to lose in it, it is still experimental. Like any crypto, don't put in more than you are willing to lose.
Nevertheless I think all I written down is backedup by facts, so that the reader can make their own decision.
I have also written articles that cover exactly what you mention, literally a few days ago, to be very careful before making a decision to buy/ sell. See link below.
I do mention in the article above two things, new investors be aware of Bitcoin and I mention they have to make up their own mind in terms of what the best decision is.
https://steemit.com/steemit/@oudekaas/this-may-save-you-some-headaches
Thanks for clarifying and being honest!
I wish you all the best for your investment and I'm here too for the fundamentals (although like most people I hope to make some decent money on the way ;) )
Hi schwmm, Let me know how it goes this time and if you have any advise I would like to hear it. that applies to everyone that reads this :).
Sharing knowledge and mistakes is always the way forward
What I learned for myself so far in the crypto space:
If you invest longterm, then you are best of basing it on the fundamentals of the project. In that case the current price is only secondary as you do it for the right reasons and shouldn't look at the charts every day.
If you want to make a quick buck, then daytrade. Here the fundamentals of a project don't really matter but it's all about the current hype that determines a good trade. For example last week I wrote a blog post mentioning that I put money into Dash because of a big conference tomorrow.
I am already up 20% since then and will sell again just before the actual conference as the hype probably will die shortly after.
You just invested at wrong time. Most of the coins are down 60% from June prices... the big blow off happened this summer.. soo i understand you are upset cause you holding big bags, but longterm you are good on BTS.
Yeah many coins are down bigly since June that's true, have quite some bags from that time. But don't worry I only invested a small amount in BTS and are in the crypto space for longer than a few months so I'm good there.
Was just wondering why he solely focused on BitShares even though there are many other projects going on at the moment - quite a few of them more interesting than BitShares in my opinion.
Hi schwmm, genuinely love to hear what projects are more interesting!
I am personally looking for that crypto which has the biggest growth potential in terms of offering a replacement for our banking system as I think that has biggest growth potential.
In my eyes that is BitShares, but if there is anything else like it out there I don't know about I love to hear it. It is tough to keep track of all cryptocoins!
U mentioned Bitshares is not a currency and you are right that it is unlikely we will be paying with BTS at the counter, but it offers currencies like Hero and that is being bought through BitShares, so in effect BitShares delivers the currencies.
It is a currency factory.
I agree though there are tons of good projects out there, but which other projects can deliver a full eco-banking system right now or in the future?
https://steemit.com/bitcoin/@johncobra/crypto-currency-and-ming-what-is-bitshares