/biz/ - Business & Finance

The only coin I've ever bought was Chainlink in 2018 December when it was 20-30 cents. I made roughly $180k less than 6 months if I would have sold. I'm still over $100k on the green side.

It was either Quant or Chainlink, and I did shit ton of research. Quant interested me because Gilbert had some experience/work history or some summer trainee shit with Federal Reserve. I'm still glad I did not choose Quant.

>>16971431
How did people even know bout LINK? They literally didn't market at all.
What even made it stand out from other cryptos? They're ultimately all just virtual funny money with no more inherent value than the dollar after gold standard ended. At least fiat gets backed by actual governments and are legal tender by law.

>>16971383
cheap coins are way riskier you dumb fuck

>>16971913
just trust /biz/. It takes years of lurking what is genuinely biz approved and what is not.
Right now BSV is on the cusp of full /biz/ approval but not quite there yet.
Everything else is jeets

>>16971383
Here's the thing, cryptos dead. These last two pumps were whales/exchanges who bought the peak from 2017 early adopters who are now trying to get a roi through market manipulation

>>16971383
>I've just been buying the cheapest coins in bulk for the last 6 months

>>16971944
Bwahahhha okay ranjet, bsv is fucking trash there's a paid shill group and some low IQ faggots who actually unironically bought some.

>>16971927
>>16971983
When BTC started out, you could get 3 of them for one penny
Nowdays you could buy 5 oz of pure gold for 1 BTC

I mean if you're at the rock bottom, logically the only way to go is up.

I don't want to buy a bunch of $300 coins just to have it crash and lose my money, I want to invest BEFORE the value goes up, not when it's ALREADY UP.

In hindsight this all sounds pretty dumb, which is why I'm Gilposting because this shit seems like what that fucker would do in a hypothetical Simpsons Crypto episode.
I'll probably turn all my shitcoins in for one all-in bid for some good upcoming token, but as I've said I've no clue what's the legitimate difference between shitcoin and a coin with an actual future because as I said, crypto is ultimately supply-and-demand funny money with no inherent value and the differences seem arbitrary.

I'm not even sure why I ask here because this board is full of shills, but maybe a miracle will happen and I'll actually find an opportunity worth the ride.

I'll help you with a gem ol' Gil.

VIDT.

>>16971913
>They literally didn't market at all.
>What even made it stand out from other cryptos?

you answered yourself

>>16972120
I'm listening, what's their gimmick?
>>16972121
How do you make the value of your token go up by not marketing?

>>16971383
do what you're doing in a bull market and you're a genius. do what you're doing in a bear market and you'll be completely miserable and end up with nothing to show for it and years of your life wasted

>>16971383
What coins did you buy? Just curious.

>>16971383
>>16971913
oh my god we're gonna make so much money off you

>>16971991
Some anon is busy screencapping these posts for your inevitable EOY humiliation im sure

>>16971383
always just eth

>>16972258
DOGE, BCN, TRX and RVN.
Some of my DOGE is mined tho because a friend helped me make a setup from a spare PC I got free from my uncle because its PSU broke.

save money for the ripple ipo

Just buy chainlink and fuck off for 2 to 3 years you stupid fucking newfag

>>16972353
>>16972258
I mean there were others I bought a few handfuls of but these 4 I got the most of

>>16971383
Well OP, everyone on /biz/ has been telling me to buy chainlink in bulk so I'm investing a couple hundred dollars into it. If it doesn't work out in the end then oh well.

>>16972093
Yikes. At least try to figure out why people think bitcoin has value beyond speculation.

>>16972401
You know what, doing some searching and lurking on other threads makes it seem like LINK really is the way to go.
What a time to turn this all around.

>>16972339
I will unironically tip cold hard dollarinos for the first anon to build a huge collage of assraped corecucks once BSV goes on the next moon mision

>>16971383
lol u don't simply invest in shitcoins.

u get scammed by shitcoins.

there are some that could be good tho.

no idea.

>he fell for the diverse portfolio meme

>>16971383
You've been accumulating in a bear market which is good, depending on your investment choices you will most likely see significant gains once the bull market comes. It has been bear for a very long time though.

>>16972454
>At least try to figure out why people think bitcoin has value beyond speculation.
Because people arbitrarily believe in its value, just like Fiat money and most commercial products.
I imagine a lot of it is in marketing and shilling.

It's not like a blockchain coin has inherent value in any way, I'd hardly even say it has any representative value. In my perspective it just seems like a rogue Fiat that isn't regulated by a central bank and has crazy market trends and arbitrary growth/recession periods and bubbles.
I mean it's essentially stocks, but the company doesn't actually do anything but print virtual tokens.

>>16972554
jesus christ no.... limited release and hashrate.

>>16972638
And that all only translates to scarcity. The only difference to traditional Fiat is that anyone with a computer could "print" it at home.

>>16972383
Hmm, okay out of all those you mentioned I unironically think doge is the the best one. Anyway, I only invest in projects that I independently research and believe in. I read the white papers and follow development news. Price does come into the equation but it's more about how much I can take at once as opposed to being priced out. I suggest you go back to the drawing board and reexamine some of the higher priced cryptos and plug in a few dollars little by little. For example, you don't need a full Bitcoin all at once if it's not possible, but gaining small increments at a time is better than nothing. Lastly, you can't be emotionally invested in these projects. Don't invest what you're not willing to lose, period.

>>16972093
>crypto is ultimately supply-and-demand funny money with no inherent value
>crypto is ultimately supply-and-demand
>funny money
>no inherent value
>supply-and-demand
>supply-and-demand
>supply-and-demand

I know you still have some functioning neurons left. So please, read what you wrote again. Then read what these tokens actual slated purpose (beyond value transfer) is.

>>16972922
Being peer-to-peer?
My point about crypto having no inherent value is that you can't eat it or really use it for anything outside trading. It doesn't even represent anything because it isn't backed by any sort of mineral, collateral or even a hamburger at McDonalds.
The whole value of it is purely perceived value dictated by the market, much like a more decentralized fiat currency.

If you think I'm being incorrect or foolish, you might consider correcting me instead of vaguely implying that I'm an idiot.

>>16971383
Bitcoin and Ethereum. It's not that complicated.

>>16972227
This

>>16973034
>Being peer-to-peer?
Getting warmer but you still aren't seeing why decentralization is so powerful and so important.
>you can't eat it or really use it for anything outside trading
You can use it as a representation of value, that can be quickly securely globally transacted for low fees.
>It doesn't even represent anything because it isn't backed by any sort of mineral
What is gold backed by? What is silver backed by? What are bullets backed by? What is food backed by? What are currencies backed by? The answer is human demand.
>The whole value of it is purely perceived value dictated by the market, much like a more decentralized fiat currency.
Except fiat is centrally controlled and inherently inflationary, crypto is neither

I appreciate you wanting to learn

>>16973034
Ok bear with me because you seem nice enough but also ignorant of a lot of concepts and you really seem to overestimate your knowledge about all of this. Your failings all stem from an arrogant presumption that you "get" cryptic when you very clearly do not. First of all do you understand that different coins represent different underlying protocols? That they are not just differently branded clones of basically the same thing? What we're essentially doing here is trying to assess which protocols create unique new value propositions, whether the coins associated with those protocols do a good job of capturing/reflecting that value, and whether the current market price per coin is lower than the expected value-capture per coin. If yes to all three, buy it. Lets use bitcoin as an example. The value of a proof of work chain like bitcoin is not "made up funny money". Bitcoin is a distributed, censorship-proof, secure, open-access record keeping system that anyone in the world can use on a fee-based pay-to-play basis. Prior to bitcoin, there was no such system of digital record keeping that offered this combination of useful properties that did not rely on trusting a central authority to maintain and administer the system. All of a sudden with the invention of bitcoin, new digital record keeping capabilities were introduced to the world and put into the hands if anyone who wants to participate in that shared system. That is real value. Secondly, Bitcoin itself is the means of representing value in that system, and it can be securely stored and transferred using public/private key cryptography. So it does a good job of capturing/storing the value of the system. Third, the price of bitcoin has already gone way up, so it's not clear at this point how the current price compares to the true value produced hy the system. We therefore reach the conclusion that bitcoin is conceptually a valid investment, but that it might be too late for it to be a profitable one.

>>16972353
Buy arpa

>>16973313
Some other problems with your "logic" include a failure to understand that per-coin price is a very poor means of assessing the current valuation of the protocol in question. That's because you also need to consider how many of the coin there are. For example, Ripple is NOT cheap because there are 100 billion of them in existence (which is way more than the total of 21 million bitcoins). Another problem is your presumption that a coin with a low price "cant go down any further". There is literally infinite space for price to collapse between 1 cent and 0. If today the price is 1 cent, and tomorrow it goes to 0.0000001 cents, well you just lost well over 99% of your investment.

>>16973313
>>16973349
This.

>>16971383
What did you buy?

>>16973313
>>16973328
what alts you holding

>>16973349
There are a lot of factors to assess in judging the investment quality of a coin at the current point in time, including validity of the core idea, uniqueness of the core idea (competitive landscape), quality of the team (ability to successfully build the project as well as make business connections to get it adopted), current valuation of the project relative to its expected future value, and tokenomics (how useful/necessary is the coin in the protocol). I hope you take the time to practice researching these things to make your own judgments. It's really the only way to avoid getting pajeeted here. However I'm also skeptical of your ability to do that, and so your best option in terms of reward/effort ratio may be to just piggyback on all the research that has been done and discussed here over the last few years and go all in link. Or dont, I don't give a shit. I'm not a shill, just trying to help you get a better understanding of why some of us are making a lot of money in this space, and it goes way beyond picking a lucky ticker.

>>16973412
In order of bag size: LINK, XTZ, ETH, PNK, RLC, ENG

>>16973462
God bless you.
VIDT a pajeet scam? Too much competition?

>>16973486
Have it on my reading list but currently too ignorant to give an opinion

>>16973412
eth xrp xlm bnb arpa

>>16973313
>>16973349
>>16973429
I really appreciate you for taking the time to explain this to me. This is exactly what I was looking for and it made much more sense to me than those tacky articles I found on Google.
I feel much more informed. Thanks fren.

>>16973641
No problem - good luck out there and always try to figure out what people's intentions are for their posts. In this case I'm just tired of the lack of meaningful discussion on biz, and want to try to raise the level of discourse.

>what is market capitalization

are normies really this retarded?

>>16971383
Here’s your main mistake:
>you didn’t do any research and just listened to shills/friends.

Here’s how that fucked you over:
>You never bothered to find out ‘why’ a crypto currency increases in value. (Normally limited supply, unlimited demand)
>You never bothered to find out which coins are a premined scam.
>You never bothered to find out which coins have a higher security (solid use case with plenty of actual users)

It didn’t help that your intro to crypto was DOGE:
>DOGE has no max supply, miners will just keep printing the same amount of DOGE meaning the value will never go up, now you think all coins are like this.
>DOGE was made as a joke to be the equivalent of giving a child a gold star, therefore it was never set up to do anything useful, again you think all coins are like that.

As a wee bonus:
>you think money is valuable because it’s made by a government.
>that ain’t it, money isn’t valuable, the goods and services we trade it for are.

My advice to you is to stop investing in crypto, you’re far too lazy and stupid to do your own research, you’re far better off getting hiring an investment manager to invest your money for you.
Investment managers will normally take around 3% of the returns, so its pretty hard for even an idiot to lose.

Screencap this shit and put me in it pls. Best post i've seen on /biz/ in a fucking year of daily browsing.

>>16972353
Sell those shitcoins and invest in BTC, ETH and XRP, in that order of % holdings. These coins will never die and have held the top 3 market cap for a long time. Think of it like investing in Alphabet, Amazon and Microsoft. They all have high mcap but keep growing because they are the market leaders and will continue to grow.

>>16971383
>cheapest coins
"cheap coins" do not exist

>>16974092
based, this is the right mindset.

Before I go to bed, I might as well come clean.

This whole thread was based on a lie. I have never bought crypto before in my life and I'm a total newfag.
It's only recently that I've gotten enough money to actually worry about investing and I wanted to see if crypto was still a valid venture in 2020.
However, the moment I stepped in /biz/, I noticed all the incoherent shilling and sperging. I needed a way to recognize the traits of a good crypto investment and not fall for a jeet scam.
I knew that if I admitted to being a newfag asking for advice, my thread would get ignored out of existence in no time flat.
Thus, I larped a plausibly dumb goof who made clearly bad investments and was at his wits end. This was punctuated with the character Gil Gunderson.
By making fundamentally false assertions about the nature of crypto, I baited /biz/ into explaining it to me. Nothing drives a person on the internet to explain something more than the pleasure of correcting someone who's clearly wrong.

I thought about just not breaking the character and letting you believe that there was an Anon who spent half a year investing in DOGE, but I figured I'd sleep better if I came clean.

Goodnight /biz/ and a genuine thank you, even if I was being deceitful.

Stakecube Coin.

30k+ users
Largest staking platform
Masternodes

>>16974092
>>16974107
>Cheap coins dont exist
What did he mean with this?

>>16974248
in order for coins to be cheap they need to be undervalued.

>>16974315
Cheers for answer

>>16974124
You didn't fool anyone you fucking mong. Obvious newfag is obvious.

>>16974124
Nice theory, but my advice to someone who is too lazy to research is completely different from someone who’s just new.

If you’re new and you’re ready to pour 500+ hours into this shit you should be like this guy:
>>16973508
Have a list of coins you’re keeping an eye on and once you know enough about a coin to make an educated decision then do it.

You should start with Bitcoin (BTC), find out things about it like how it works, what people use it for, how many people use it compared to how many people hold it for investment, will there be a demand for it in the future and what percentage is held by whales.

Bitcoin is a safe starter coin, a lot of people say their favourite coin will do better, but everyone except BSV shills think that BTC will be worth more in the future than it is now, it’s just a matter of will it be 20% more or 200% more.

WHERE DO I BUY LINK IN CANADA
FUCK

Almost no one here uses the ERD model to choose crypto investments. No wonder everyone's getting JUSTed.

ERD is how venture capitalists can successfully find the next needle in the haystack.

We all just brought link, you can't lose. How fucking hard is it to do that. Have been telling you retards for over 2 years now. Ffs

>>16971383
DCA all in on bsv over the next 4 months, loser. No need to thank me.

>>16971383
My rule of thumb is stay away from projects that have more then 50% chinks or 50% Jews and never buy any microcap shitcoins shilled here.

>>16974124
when i see someone ignorant as fuck, making retarded claims, and being completely ignorant of any fundamentals, I shill them a scam so they lose their money.

unfortunately some of biz is too kind hearted to take advantage of a retard so this thread is testament to the sad state of things.

>>16971431
What are you eyeing next?

>>16975526
Your mom's tiddies

>>16972353
Bytecoin and Tron are both very bad buys. Bytecoin has lost 98% of its value and it still has a huge marketcap, so it will never moon because no one wants to and even if they did there is an army of bag holders desperate to sell. Tron is a similar case. Doge and raven are stable so they won't moon but they can be good for trading. To catch a moon you need to be able to predict human behaviour and consider the tokenomics. What coin will allot of flesh bags buy and will it trigger a moon mission? It will have to be something that available on Normie exchanges, it will have to have not suffered large dumps (over 90% loss of value), it must have some marketable apeal and a low marketcap in carparision to the others factors is also helpful

>>16975320
Even if you're here for purely selfish reasons, scamming a poorfag is less profitable than letting him fill his pockets first.

>>16971383
How you are this fucking stupid?

>>16972093
>I don't want to buy a bunch of $300 coins just to have it crash and lose my money, I want to invest BEFORE the value goes up, not when it's ALREADY UP.
What? You realise that coin that's $0.05 can crash to $0.0005, right?