Ask HN: You have $100/mo to invest in cryptocurrency, BTC, BTC Cash or Ether?
I have some expendable income every month and I'd like to have a stake in cryptocurrency. I find it interesting but my attention span is short, so having some funds involved would make it more interesting, and it's money I can afford to lose.
Obviously they're all a gamble, but I'm interested to hear which one people would pick. Bitcoin cash seems a bit unsteady with it being new, Bitcoin appears to be stronger than ever (when I thought the fork would lower its value) and Ethereum is backed by some fairly big names and recovering from its dip.
On a sidenote, if anyone has a platform to recommend feel free, as all I've been recommended is markets.com.
49 comments
[ 5.7 ms ] story [ 84.7 ms ] threadNow this completely changes once you get above 20k invested. Then, diversity is more important and earning 7% a year moves the needle.
You can use my referral link to earn extra BTC when you purchase :D https://www.coinbase.com/join/5927caaa2cc81a08f16dab25
https://www.gdax.com/ is a more advanced trading platform (same company as Coinbase). Expect lower fees in exchange for managing your own trades
and do you think that is anywhere near objective?
why would that qualify outside of him being the "cryptocurrency savant" and you not being one?
what would make your understanding of that statement objective?
Somehow Litecoin traded from $3.00 to $46.00 with many enthusiasts saying the same thing for half a decade, was there somebody saying something else?
Does your friend have the exact same investment risk profile as you would?
factors...
LTC and other coins use more resilient algos like script to prevent that type of network compromise.
Executing the Ethereum VM and smart contracts on the Bitcoin blockchain...
One thing that makes NEO cool is that it generates another coin in it's ecosystem called GAS which you get for just holding it in your wallet. Make sure you move NEO from an exchange unless you're using Binance (which lets you generate GAS on the exchange)
It just hit Top 10 on http://coinmarketcap.com yesterday
Unlike other more open and honest or at least auditable crypto currency systems, NEO aka antshares was 100% premined which is incredibly dubious and indicative that many of the shares were selectively distributed to individual 'whales' who can and will easily dump their holdings.
Premine is a term for cryptocoins where traditionally, the start date of the network is announced after the mining protocol and software is released to the public.
When a cryptocoin dev team intentionally takes control of part of the supply of the cryptocoins before releasing the minting protocol/process/supply to the general public then it's considered 'pre-mined' because traditionally as with BTC/LTC/DOGE/etc, the public was informed of the protocol and presumably all users given access to generate the coins as a reward for fueling the network activity.
In the case of antshares, the basecoin being %100 premined would almost seem more like a stock in the project as apparently coin ownership is a precursor to generating the secondary token which is used as fuel for the services provided.
https://en.wikipedia.org/wiki/Dollar_cost_averaging
FWIW, I've been lately thinking of adding an extra $2.50 each per day for Litecoin and Bitcoin Cash.
As another poster has pointed out, dollar-cost averaging is your friend.
However, I just tried setting up a new transaction and the fee looks to be $0.99 for a $5 investment. At ~20%, this sort of averaging would no longer be worth it. Like I said before, I guess I've been grandfathered in after the new fees schedule was imposed. Let's see how long it lasts.
https://youtu.be/rsSuay53kIc
Same story in western China and the Pacific north west filed with mining company's taking advantage of hydroelectric.
Transactions without a fee, Scalable. Meant for Machine to Machine Payments. The internet of things, nano transactions.. Doesn't use a blockchain but instead uses a Tangle. It's quite early and the tech may seem new but it does solve a lot of the scaling issues wrought with "blockchains".
What's the personal value to me or someone else of owning this unit of currency, in terms of purchases enabled and transaction costs avoided?There are frequently financial bubbles, where people just buy because you expect the value to see further appreciation and sell to a greater fool. Unfortunately such bubbles inflate slowly but collapse rapidly:
https://en.m.wikipedia.org/wiki/Tulip_mania
I would currently go for Wagerr, IOTA, SIA and TenX. For IOTA and TenX, i still need to read the Whitepaper in Detail, but they look very promising.
Do also go through https://www.wealthfront.com/questions and other finance portals to see how they allocate your investments amount based on risk profile, age and goals.