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9473584 No.9473584 [Reply] [Original]

Redpilled me about crypto. Scam or really works?
I want to obtain 3 millon dollars in 3 years. Would be it possible?

>> No.9473593

>>9473584
How much do you have to start with

>> No.9473598

>>9473584
first off kys. secondly, saged

>> No.9473609

>>9473584
its basically a ponzi scheme.

>buy said coin
>shill, shill, shill!
>hope new investors keep coming in
>dump on them
>rinse and repeat on new coins.

>> No.9473619

>>9473584
>Scam or really works?
1600+ different cryptocurrencys, some work some dont.

>I want to obtain 3 millon dollars in 3 years. Would be it possible?
yes

>> No.9473632

Buy DANEEL, low cap coin with a legitimate usecase, IBM partnership. Just HOLD

>> No.9473644

>>9473609
This, however if the coin has some kind of use then its not a ponzi if you buy it just to use it.

Otherwise its a ponzi

>> No.9473647
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9473647

>>9473609
>mfw realized crypto is just one big ponzi game

>> No.9473663

>>9473584
The vast majority of small cryptos (95%+) will be close to worthless in 5-10 years. If you can pick the winners (you probably can't) or do this:
>>9473609
you can make very good money. You can also just bet on the overall market (the safest strategy) and hope it 10x from here.

>> No.9473813

>>9473593
$1000 is what I can afford to lose
>>9473609
It's similar when you buy something that is tendecy, buy until is saturated and then a new article is on tendency and then, repeat.
>>9473619
Oh man, if it works I'll put result in 2021. Cap.
>>9473663
Seems good man.

>> No.9473831

>>9473813
Its possible but you'd have to get lucky with projects that moon and you'd have to not lose everything going too much into a single coin. No one knows the future of crypto but theres still money to be made, at the very least you could 10x in a year.

>> No.9473833

>>9473584
3000x is possible
10x
10x
10x
3x
All you have to do is bat correctly 4 times.

>> No.9473837

>>9473609
If you wouldn't use it yourself, you shouldnt buy it. Whole reason this board is absolute fucking shit

>> No.9473901

>>9473831
>>9473833
I see. But we only talked about buy/sell. What's with minning?

>> No.9473947

>>9473901
if I'm going to mine something because I like the tech, I just fucking buy it unless there's literally no liquidity (DERO for ex)

>> No.9473975

>>9473901
with mining you get into coins that are unknown but have either something a whale can shill whether it has a fancy whitepaper, someone who has high reputation attached to said project or company.

>> No.9473999

>>9473947
>>9473975
Thanks so much, guys. Now I'm going to lurk more. Good luck.

>> No.9474022

You have no fucking idea what happened in 2007-2009. You look quick for monetary gain instead of looking at the injustices that took place on the American people, and the entire global economy.

It's sad that you needed to be "red pilled" to understand the inherent value of crypto. You obviously don't understand how finance works, nor do you seem to understand the current state of "things".

I hope you lose all of your money and kys, you're everything wrong in this space.

>> No.9474028

>>9473999
Buy LINK. $1000 EOY

>> No.9474048

>>9473813
>$1000 is what I can afford to lose
When it comes to crypto, you don't ask how much you can afford to lose, you ask how much money you can get from a loan.

>> No.9474059

>>9473584
Crypto really works.
It is effectively a bearer instrument, meaning that investors must (or at least should) manage the custody of their assets themselves.
No one really knows how to value cryptoassets yet so it's rife with speculation. I'm guessing the value of a given crypto comes down to some combination of network size, decentralization, transaction throughput, and usability. There are no P/E ratios or anything else to really measure fundamentals by.
If you want to get $3m out of $1k at this point, you're going to have to get really fucking lucky with some shitcoins (spoiler: you won't). You can probably realistically turn that $1k into $100k over a few years with some smart buys when this market bottoms out. Remember - you want to buy projects with sound fundamentals that joe normie will bid up when the next bullrun happens. If there isn't a plausible story for a complete outsider to see "value" in a coin, it will die.

>> No.9474062

>>9473584
If you've got 1k now, buy some ETH and some BTC with $750 of it, put the rest into ENG and when ENG hits a market cap of 2.5B, sell it back for ETH. then wait.

also lurk moar.

>> No.9474116

>>9474022
It's true man, I'm engineer, not related to finance stuff. When I requested for a redpill was due to I'm in total ignorance. However, as I say in my previous comment, I'm going to lurk more about this world of cryptocurrency. Good luck.

>> No.9474137

>>9474048
That's a mistake.

>>9473813
You have $1000 right now, that's great, but what you need to do is put in another $100 or whatever with each paycheck, keep doing that while hunting moon missions or solid holds and you'll be set.

>> No.9474225

>>9474022
Redpills are meant for those who are ignorant to a worldview but can be swayed because they want to be deep down. Its like the whole concept.

>> No.9474249

>>9474116

You missed my point. Cryptocurrencies (or bitcoin) was created due to the financial injustices that took place during the 2007-2009 period - one of the largest ever, a pure spit-in-the-face moment for the American people and global economy, but everyone has seem to forgotten what's happened.

I'm in crypto because I detest this current banking system; my rent/utilities/food are all paid for by crypto-currencies. I refuse to use any bank for anything - they are the root of all evil, as cliche as that sounds. I do carry cash for emergencies (I am my own bank, and so should you), it would be negligible for me not to do so, but you need to understand the movement. Many people here are lost looking for quick pumps, "lurking moar" doesn't help you.