Best cryptocurrency to get into now.... I need to invest some money

[fdsa]

Sorry, I phrased wrong - of course we had MySQL replication many years ago, I meant - dare to name a single distributed database that is impossible to forge, same as blockchain, and that was released before first blockchain? And that database should be public as blockchain, not used privately by the companies behind closed doors like Lotus Notes or some old proprietary sofware.

 

8 hours ago, GrandPapillon said:

public ledger, gave you plenty of examples you chose to ignore ????

I gave an example why "yellow pages" is not comparable to blockchain that you chose to ignore.

 

[Liverpool Lou]

19 hours ago, GrandPapillon said:

20 hours ago, Liverpool Lou said:

I could be a registered (regulated) FA.  I was an FA (an IFA)!

in Cyprus? or UK? if you are in the UK, then you do realize that "promotions" of cryptos like you do expose you eventually to serious violations

You really need to read my comments properly, nowhere did i say that I recommended cryptos!   I was challenging your claim that I "could never be an FA, anywhere", you are wrong.  Take a look at the tense I used in my comment that you quoted above also!   

[fdsa]

8 hours ago, engamann said:

Well i did try to share but the only thing you could come up whit is " Hex is a brilliant scam" but nothing to back it up so i think i leave it there. 

of course it's not a scam - just look at my Rolex and my Lambo I've bought with your money!

 

Edited November 17, 2021 by fdsa

[JeffersLos]

21 hours ago, allanos said:

I am all in, and am prepared (mentally) forprice volatility, and to wait for the rewards which will surely come along.

What price have you set your selling point at for your BTC and ETH? 

[allanos]

27 minutes ago, JeffersLos said:

What price have you set your selling point at for your BTC and ETH? 

I haven't yet decided on an exit strategy, although it is under consideration.

 

There are a number of options: sell all and stay out, sell all and buy back in at a sufficiently low price, sell part, or hodl into perpetuity, taking out loans on Defi which will be funded by the ever-increasing value of my crypto. Or, indeed, a mix and match of any of the foregoing.

 

I shall probably do nothing whatsoever until the second quarter of next year, when it is possible that the present cycle may end and crypto prices are close to their peak value in the cycle.

 

 

 

 

[steve73]

There are around 5-6,000 different crypto currencies (compared to just 160 national currencies), with a total valuation of around $3 Trillion.  Too many to even list..

Bitcoin represents around 40-45% of that value, ETH another 15-20%.. The top 10 (incl. stablecoins) are 80%, the top 100, over 96%...

 

Most popular exchanges are limited to a selection of perhaps 100 different coins, so unless you have loads of accounts you will have a fairly limited choice of crypto available to you.

 

Any of the top 10-20 could easily increase 2-3x from here over the next few years, but unlikely to do much better.  If you want BIG gains you need to look further down the pecking order...and then find an exchange that lists the ones you want.

 

I look for coins that are newly listed on popular exchanges.  Look for coins that have a high turnover.  Eg. BTC daily volume is typically less than 1% of its total valuation; most are 1-5%, but some may be over 50%.  High volume tends to correlate with a rising price as more people are jumping on board (but not always, so beware).. 

 

Next look at the potential value or the number of unissued coins..  around 90% of all possible BTC (out of 21 million) is already in existence.. so there is not much more inflation of its supply possible.  At the other extreme, Shiba Inu has only 50%.. out of a possible 1 quadrillion coins.. and it's already in 11% place with 1% of the total crypto value.. it might increase a little more, but it won't continue its recent past performance..

 

If you're willing to watch continuously there are some coins that can jump 20-30% up and down every day (sometimes a few times every day).  Even if the overall trend is down, you can often make 15-20% every day by timing the swings.  IOTX is one that I've been playing with over the past few weeks.. My 1st (small) buy was up 7x, although it's since dropped back, but daily swings are still typically 20-30%, so plenty of opportunities to profit.  It's currently in 64th place, with $2.5Bn total valuation, and around 15-20% daily volume/valuation... and there are only 5% of the coins left to be issued... so it ticks all my boxes. 

 

But for these more volatile coins only "invest" what you are prepared to loose. 

 

Good luck, and have fun..

 

 

 

 

 

 

 

[mjnaus]

16 hours ago, GrandPapillon said:

independent public ledger? the white pages? yellow pages? company house registry? global flight registry? worldwide cargo registry? perfectly safe and secure, shareable, and not owned by any government ????

 

This one takes the cake ???? Damn near ruined my computer as I was just taking a sip of coffee while reading this little gem. 

 

Comparing a blockchain that's decentralized, trustless, permissionless  and censorship resistant to the phonebook.... Yeah bud, they are indeed one 100% the same. Bitcoin would have definitely gained the traction it did if SN decided to track the currency in a paper book. 

 

All joking aside, your posts in various crypto related threads the past years are finally starting to make sense to me. In your world, a world where blockchain = phonebook, none of this makes sense. And for what it's worth; I also don't think phonebook technology makes a better financial system or solves any real world issues ????

[GrandPapillon]

13 minutes ago, mjnaus said:

This one takes the cake ???? Damn near ruined my computer as I was just taking a sip of coffee while reading this little gem. 

 

Comparing a blockchain that's decentralized, trustless, permissionless  and censorship resistant to the phonebook.... Yeah bud, they are indeed one 100% the same. Bitcoin would have definitely gained the traction it did if SN decided to track the currency in a paper book. 

 

All joking aside, your posts in various crypto related threads the past years are finally starting to make sense to me. In your world, a world where blockchain = phonebook, none of this makes sense. And for what it's worth; I also don't think phonebook technology makes a better financial system or solves any real world issues ????

typical dishonest post by crypto enthusiasts by avoiding to address other examples, and proving he is confusing technology with actual use ????

 

hopeless ????

 

Edited November 17, 2021 by GrandPapillon

[GrandPapillon]

3 hours ago, Liverpool Lou said:

You really need to read my comments properly, nowhere did i say that I recommended cryptos!   I was challenging your claim that I "could never be an FA, anywhere", you are wrong.  Take a look at the tense I used in my comment that you quoted above also!   

from what I read here from you, you don't come across as registered FA material with all your crypto promotions ????

 

[GrandPapillon]

3 hours ago, fdsa said:

Sorry, I phrased wrong - of course we had MySQL replication many years ago, I meant - dare to name a single distributed database that is impossible to forge, same as blockchain, and that was released before first blockchain? And that database should be public as blockchain, not used privately by the companies behind closed doors like Lotus Notes or some old proprietary sofware.

 

I gave an example why "yellow pages" is not comparable to blockchain that you chose to ignore.

 

Look at the Apache projects for big data, many of them started before 2008. But the point remains the same, we don't need blockchain for a distributed database, existing solutions are doing that job. You are not fixing something that is not broken.

 

I missed your example of why "yellow pages" is not comparable to blockchain, because it wasn't an example. You focus exclusively on the tech, and forget the use case.

 

May I suggest you watch Steve Jobs video on that subject, in that famous video, where someone was blaming him for shutting down "OpenDoc", a revolutionary system, that nobody cared about because there was no use case. He has the perfect answer, and it's great to hear from him. Didn't like Steve Jobs personally, but he knew a thing or two ????

 

it's the same with blockchain, and cryptos, they are all demos and PoC. Great and fun. But no use case and no scaling to market. It will eventually collapse if nobody can find a real use case with that thing.

[mjnaus]

7 minutes ago, GrandPapillon said:

typical dishonest post by crypto enthusiasts by avoiding to address other examples, and proving he is confusing technology with actual use ????

 

Oldtimer, my brain cycles are better spend on being productive rather than feeding some dusty internet troll. Have had you on ignore for quite a while now, but noticed that little gem by accident. Couldn't resist. Anyways, happy trolling and make sure to pick up some shares in one of those last remaining phone book companies (I have it on good authority that they're gonna make a huge comeback and give blockchain companies a run for their money). 

[GrandPapillon]

actually, there is one and only use case, but it's about illegal money ????

 

and since regulations will shut that down eventually, the countdown for that use case already started

Edited November 17, 2021 by GrandPapillon

[GrandPapillon]

2 minutes ago, mjnaus said:

Oldtimer, my brain cycles are better spend on being productive rather than feeding some dusty internet troll. Have had you on ignore for quite a while now, but noticed that little gem by accident. Couldn't resist. Anyways, happy trolling and make sure to pick up some shares in one of those last remaining phone book companies (I have it on good authority that they're gonna make a huge comeback and give blockchain companies a run for their money). 

right ????

[GrandPapillon]

4 hours ago, wolf81 said:

Lotus Notes is a distributed database that many companies have used on their intranet.

and it's quite old, didn't know it was a fully distributed database

 

see fdsa? been there, done that, blockchain is bringing nothing new ????

Edited November 17, 2021 by GrandPapillon

[lkn]

3 hours ago, fdsa said:

I meant - dare to name a single distributed database that is impossible to forge, same as blockchain

Blockchain is not impossible to forge. Numerous 51% attacks have taken place in recent years and there have been many humorous rants on twitter from people who have seen their image (that they paid for as an NFT) “stolen”, as big surprise, paying to get a signature stored in a blockchain is not a solution for piracy.

 

Regarding the attacks om the blockchain, the problem is that it should basically be more expensive to create the blockchain than the value being secured. If you do money laundering or other illegal activity, you might be willing to pay this high price, but for regular finance, it is useless.

[GrandPapillon]

24 minutes ago, lkn said:

Blockchain is not impossible to forge. Numerous 51% attacks have taken place in recent years and there have been many humorous rants on twitter from people who have seen their image (that they paid for as an NFT) “stolen”, as big surprise, paying to get a signature stored in a blockchain is not a solution for piracy.

 

Regarding the attacks om the blockchain, the problem is that it should basically be more expensive to create the blockchain than the value being secured. If you do money laundering or other illegal activity, you might be willing to pay this high price, but for regular finance, it is useless.

brilliantly said,

 

and the current distributed databases are perfectly secure, public or otherwise

 

there is no emergency, or "absolute" needs to make more it secure, above all when the costs are prohbitives

 

that's what it is all "vaporware", they are trying to push a "technology" with no merits,

 

vaporware is absence in needs or delivery ????

 

Edited November 17, 2021 by GrandPapillon

[GrandPapillon]

and of course, it's all question of time for hackers looking for badges to go after a technology claiming to be "ultra" secure like blockchains or cryptos

 

it's like a global call for hacking ????

Edited November 17, 2021 by GrandPapillon

[wolf81]

49 minutes ago, GrandPapillon said:

actually, there is one and only use case, but it's about illegal money ????

 

and since regulations will shut that down eventually, the countdown for that use case already started

For crypto? That doesn't make sense. Cash and even bank transactions often involve illegally gained money. At least the block chain transactions (wrt Bitcoin) are fully visible for everyone. And with KYC (know your consumer) regulation implemented in many countries, it's possible to link certain crypto wallets to certain people. It's the reason why you often have to show a photo of yourself, your passport, other information related to you (e.g. water bill) when signing up to a crypto Exchange. 

 

I believe what you will see in the near future is bigger players entering the crypto markets. Especially since it'll become easier to get involved in crypto without the hassle of dealing with wallets and such (e.g. by buying Bitcoin ETFs which are either introduced already or will be introduced very soon). Bitcoin ETFs will allow institutional investors (e.g. pension funds) to buy Bitcoin much more easily.

 

Some use cases for Bitcoin and other cryptos are:

- It will likely proof to be the hardest currency in existence, which means it is a great store of value.

- It's easier to transfer than gold. 

- You are not reliant on banks for transfers, it's very cheap to send to wallets in other countries.

- You can easily carry it along with you to other countries, e.g. by carrying a hardware wallet or storing your wallets' private key in your brain.

- Precious metals (e.g. gold) might become cheap once we are able to mine astroids, but Bitcoin doesn't have this risk. 

- Bitcoin is not impacted by inflation, which is kind of an hidden tax used by governments.

Edited November 17, 2021 by wolf81

[GrandPapillon]

1 minute ago, wolf81 said:

Some use cases for Bitcoin and other cryptos are:

- It will likely proof to be the hardest currency in existence, which means it is a great store of value.

- It's easier to transfer than gold. 

- You are not reliant on banks for transfers, it's very cheap to send to wallets in other countries.

- You can easily carry it along with you to other countries, either by carrying a hardware wallet or just storing the key in your brain.

- Precious metals (e.g. gold) might become cheap once we are able to mine astroids, but Bitcoin doesn't have this risk. 

- Bitcoin is not impacted by inflation, which is kind of an hidden tax used by governments.

these are not use case, there are justifications to use the technology, instead of another one. There is no value prop in any of those cases. Sorry. You may think it's important, but actually it's not.

[GrandPapillon]

2 minutes ago, wolf81 said:

For crypto? That doesn't make sense. Cash and even bank transactions often involve illegally gained money. At least the block chain transactions (wrt Bitcoin) are fully visible for everyone. And with KYC (know your consumer) regulation implemented in many countries, it's possible to link certain crypto wallets to certain people. It's the reason why you often have to show a photo of yourself, your passport, other information related to you (e.g. water bill) when signing up to a crypto Exchange. 

Nigerians hustlers have access to all this and can create a fake account, that's not real KYC. The real KYC is when they ask for proof of income and source of funds. That's how they get you. Not with your passport or government ID.

 

and transparency? don't see any transparency looking at a string of "random" hex characters or hash. You seem to have a strange definition of "transparency" ????

 

[fdsa]

47 minutes ago, GrandPapillon said:

Nigerians hustlers have access to all this and can create a fake account, that's not real KYC. The real KYC is when they ask for proof of income and source of funds. That's how they get you. Not with your passport or government ID.

well said, totally agree. Especially when Nigerian hustlers use someone else's passports that were stolen from another KYC website

 

1 hour ago, GrandPapillon said:

actually, there is one and only use case, but it's about illegal money ????

exactly! And as all countries have corrupt officials wishing to hide/wash their millions - the cash flow into the cryptocurrencies will only rise - so the exchange rate of cryptocurrencies will only rise - and I'll happily sell my crypto to those officials for huge moneys in few years. Also don't forget about <70 IQ crowd who seriously "invest" into scam tokens.

 

1 hour ago, GrandPapillon said:

see fdsa? been there, done that, blockchain is bringing nothing new ????

still I was talking about public database, not intranet solutions used behind the closed doors. Blockchain was the first truly public solution.

Edited November 17, 2021 by fdsa

[fdsa]

1 hour ago, lkn said:

Blockchain is not impossible to forge. Numerous 51% attacks have taken place in recent years and there have been many humorous rants on twitter from people who have seen their image (that they paid for as an NFT) “stolen”, as big surprise, paying to get a signature stored in a blockchain is not a solution for piracy.

 

Regarding the attacks om the blockchain, the problem is that it should basically be more expensive to create the blockchain than the value being secured. If you do money laundering or other illegal activity, you might be willing to pay this high price, but for regular finance, it is useless.

running 51% attack against the largest blockchains is extremely difficult and expensive; the "regular finance" could use the already existing blockchains for security, instead of starting their very own ones from scratch.

As for NFTs - that's obvious bullshít technology, nothing prevents me from doing right click - "Save As..." on any image in the Internet, or copying the cache of any video or music file I've watched/listened to in the Internet.

[GrandPapillon]

13 minutes ago, fdsa said:

still I was talking about public database, not intranet solutions used behind the closed doors. Blockchain was the first truly public solution.

Ok I see what you mean exactly, but there is no need for such a tool, back then and now. Anything with sensitive data must not be public. You can use APIs to access those data, like it's done for flight information, or cargo information. How it is stored internally is not really an issue and irrelevant, as long as you have the APIs to access the data. This might have been an issue in the past for speed of access, but that's been solved already a long time ago.

 

think about this, RESTfull APIs requests, and SOAP/WebServices are a shape of distributed data. Anyone with the right credentials can make changes or updates to a central repository of data, data that can be itself "distributed" on multiple servers for online and offline access in case of failure. Oracle can "slice" your data on different servers in different countries, and "cache" locally the data. I think that's good enough for everyone. Except for crypto and blockchain enthusiasts obviously ????

 

 

 

 

[GrandPapillon]

14 minutes ago, fdsa said:

As for NFTs - that's obvious bullshít technology, nothing prevents me from doing right click - "Save As..." on any image in the Internet, or copying the cache of any video or music file I've watched/listened to in the Internet.

I think the point of the NFT technology was to claim to be the first to do a "save as" ????

 

I know ridiculous, but in a vaporware environment, the sky is the limit for stupidity ????

 

[GrandPapillon]

26 minutes ago, fdsa said:

exactly! And as all countries have corrupt officials wishing to hide/wash their millions - the cash flow into the cryptocurrencies will only rise - so the exchange rate of cryptocurrencies will only rise - and I'll happily sell my crypto to those officials for huge moneys in few years. Also don't forget about <70 IQ crowd who seriously "invest" into scam tokens.

 

that's a valid point and not disputing it, the real value is there

[lkn]

27 minutes ago, fdsa said:

running 51% attack against the largest blockchains is extremely difficult and expensive; the "regular finance" could use the already existing blockchains for security, instead of starting their very own ones from scratch

My secondary point was that it is only expensive to attack these existing chains because the true cost of a transaction is pretty high, with ETH it is not unusual to see fees of $50-100, for bitcoin the fee is only around $3, but that is because the miners are subsidized to the tune of more than $200 per transaction in hidden fees (the 6.25 bitcoins issued per block grows the entire pool of coins and should in theory cause inflation for all holders of BTC).

 

It will be interesting to see what happens to network size and/or transaction fees once the mining reward is halved again, or goes away, because miners only mine as long as it is profitable for them, and if network size goes down, so goes your security.

 

But the real question is: Why would financial institutions use this technology? I.e. why is it better than what they currently have? Visa and Mastercard do thousands of instant transactions for a fraction of the cost and their reach is pretty much global, they don’t need blockchain to accomplish this, on the contrary, not only would blockchain be slower (wait for block confirmation), more expensive (see true cost of transaction), it would also be a privacy nightmare, if everyone could follow my transaction history, and of course, it doesn’t scale to the number of transactions that real institutions actually do.

Edited November 17, 2021 by lkn

[lkn]

19 hours ago, Neeranam said:

Not much in utility but as a store of value, much better than gold, for example. 

For store of value you want low volatility. Bitcoin just dropped 10%. This is *not* a good store of value.

 

 

[Neeranam]

20 minutes ago, lkn said:

For store of value you want low volatility. Bitcoin just dropped 10%. This is *not* a good store of value.

 

 

Try looking at 1 week or 1 month, or how about 5 years? Does anyone actually care about daily fluctuations.

[lkn]

48 minutes ago, Neeranam said:

Try looking at 1 week or 1 month, or how about 5 years? Does anyone actually care about daily fluctuations.

By that logic, shares in Facebook is a good store of value.

[Liverpool Lou]

4 hours ago, GrandPapillon said:

from what I read here from you, you don't come across as registered FA material with all your crypto promotions ????

 

1.  I have not promoted cryptos.  If you think I have copy and paste my promotion of them in your reply so everyone can see!   

 

2.  I'm not an FA now, I used to be an IFA, USED TO BE. you really don't understand tenses?  That's how I know that you're wrong when you said that I "could never be an FA anywhere"!