Quote:
Originally Posted by 167-169
Chuck seems to be one of the more sharper reg posters in this thread. Whatever he says, I’ll follow.
Truly terrible idea, please don't do this. I have less invested in crypto than some people pay in rake for a single poker tournament. I think this allows me to stay roughly objective (there aren't that many people who post regularly about crypto, are invested in crypto, and don't have some sort of bias), but the downside is I that also don't know almost anything about crypto and have very little time to actually follow the markets. I basically just follow crypto the same way some people follow fantasy sports or the NFL or whatever -- I spend maybe 30 mins a day organizing my modest bags and reading some news/tweets. An average poster ITT would have way more technical understanding about crypto than I have.
But yeah the ICO advice (to not invest in almost any ICOs atm) seems like a pretty easy one to give. Just go to one of the sites that lists pasts ICOs and shows how they've done (icodrops is one), you can compare the ICO price and current price for each coin etc. Then compare ICOs from December to ICOs from late January onwards. ICO investing just seems to really depend on market conditions. In December bull markets you could invest in basically any ICO and make money, because every single coin shot up at least temporarily so you could just sell whatever you bought at 5x profit or something. Buying ICO was basically = buying future coins at a discount. Now we're in a bear market, meaning that everything just bleeds slowly. So when you invest in your average ICO, your investment will just lose money while your coins are also being tied up.
Sure there will probably some outlier coin, but just as a very general piece of advice this is almost the only one I feel comfortable giving. Obviously if the market conditions change it could be a different ballgame. I'd still invest if I really thought I'd found the next Wanchain or whatever, but I'm not dedicating one second of my life trying to search for one atm because the chances of that feel very slim to me and researching ICOs seems like researching for ways to take a loss at a 98% certainty. I'd rather focus on other things.
Oh and also there might be some restrictions on ICOs in the future, I haven't followed that closely but iirc the message from the US seems to be basically that crypto = good but ICOs = need controlling.
FWIW I wouldn't advice anyone to invest in crypto atm in general, either. I'm fully expecting btc to reach at least 5k and I'm pretty skeptical about reaching new highs. Not really based on anything else but a gut feeling about almost everything still being overpriced, and I'd be happy to be wrong. Only mentioning this because I'd really hate someone misinterpreting my posts and investing because of something that I've posted. I'm freerolling all my bags and if I weren't I would feel pretty meh about being in crypto atm.