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/biz/ - Business & Finance

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49914760 No.49914760 [Reply] [Original]

I try to buy at least one full coin of any crypto that is available on the exchanges I use. Or in the case of shitcoins that are $0.000000001 maybe I'll throw in $5. Of course I invest a lot more money into established projects that seem more promising. But I figure this way I won't miss out in case anything crazy happens and some shitcoin goes from a fraction of a penny to $30k like BTC. And worst case I'm out like $5 if something rugs. Does /biz/ think this is smart, or is this a retarded strategy?

>> No.49914979

>>49914760
lol

>> No.49915614

>>49914979
lmao even?

>> No.49915747

This is a great idea but you can save yourself money in two ways. One is to have a filter and just go ahead and avoid stuff that will clearly have 0 chance to thrive. Example might be something named floki10xmoondoge. It's telegram has 3 active members chatting at most and the website is non existent or has plenty of typos. Second is to avoid investing at all during bear markets. Wait for some hint of a sustained bull market. And stay FULLY out in bear markets. US stock marker is officially in a recession right now. Don't let that fact go unnoticed.

>> No.49915851

Or maybe you could actually try to make money investing in something that will take off long term?

there are coin withs actual technology and utility like LINK and others like BitDAO with actual backing of a $1.2 billion treasury to keep it liquid through bear markets

>> No.49915886

>>49915747
Basically what this guy says. This kind of strategy only works in bullish markets. You honestly could probably do any cooking that enters the top 500 market cap on coinmarketcap as a filter alone. You'll get scammed on a few no doubt but every once in a while a coin on the 500 gets pumped. Just create an algorithm that sells any coin profiting like 20 percent and make the threshold higher for more legitimate coins on the top 100.

>> No.49915985

>>49915747
Yeah I mean that shit I never touch if it's a memecoin based off of a memecoin of 20 other memecoins. That is a good point though. I don't see why you shouldn't spend some portion of the bear market buying in. I haven't really started DCAing back in yet but I expect I'll get back to that in a month or so. Waiting for green candles seems like a way to miss out. I have a decent salary, savings, and investments outside of crypto so I'm not afraid of looking for long term stuff. Doesn't need to moon over night.