🧠 Crypto Investing - Why "Hidden Gems" Don't Really Exist

in #threespeak4 years ago (edited)

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A lot of people talk about possible "hidden gems" and "dark horses" in the crypto space; coins that might be going under the radar and that could one day go on to become incredibly valuable.

In this video, I explain why I believe that's quite unlikely to be the case most of the time. And in fact, at a time when many people are trying to be "contrarian", it's probably better to side with the majority and "mainstream" coins.

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Hello @louisthomas, how are you doing? I think it is possible that a coin under the radar will one day be of very high value. The blockchain world is like gambling. Have a nice day, sir.

I don't think it makes any sense to have a single dominant world currency. These projects are targeting communities. Communities have a way of becoming fractured and decentralized, just like cryptocurrency.

Considering how new this space is and how much we have to expand, I think you'll probably be right in the short term. Bitcoin and Ethereum are the gateway for new users, so it makes sense that they would capture the most value over the next ten years. However, after the initial shell shock of global adoption passes by, a lot more value will start getting captured by some of the projects that are evolving faster and able to take more risk.

Agreed. Some community-centric coins can and I believe will be big in the long term. I can't understand what's so great about Ethereum, particularly the PoW version. It sucks for any and all practical purposes. Bitcoin may become digital gold, that is, an asset used for hedging purposes.

Someone like Cedric Dahl is totally ignorant about the technological potential of various types of coins. Most crypto-investors are stupid lemmings who go after whatever coin has market acceptance. I have serious doubts as to whether that approach as any long-term future. In the end, those coins that have practical utility will win.

@louisthomas In my opinion, crypto world is full of opportunities but very few can spot them right. As far as hidden gems concern, We can look at many IEO's at binance which goes 10x from initial price. For example, ERD distribution rate was 6 sat only which is now trading on 52 sat. Matic coin also have same pattern.

Really? because if i get a metal detector and it goes off, i have to dig and see whats there. most likely a very valuable coin.

But we expect that from a rich blogger.

I Do think hidden gems will be made in this tech.
Problem is that if one group/forum finds it they will immediatly try to fud it all over the internet so they have more time to accumulate.
See Chainlink, 4chan finds it, tricks everyone in thinking its a scam.
But now they got google / oracle / coinbase in the pocket (in my opinion the best integration in cryptospace from the last couple years)
If there is smthing that will be valuable, ppl that find it will try to keep it low key/unnoticed/unatractive just so we can accumulate.

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I’ll find one soon haha

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u remind me, I better go check on my gems! lol forgot all about them!

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