You are viewing a single comment's thread from:

RE: BTC almost $4,000!!! Will it hit $6,000 or more? Where do I take profits on my Free coins?

in #trading7 years ago

Can't Downvote, otherwise I would. Lucs strategy is about using coins to make more coins, which you hold long term, allowing you to cash out your initial investments while growing your portfolio. It's a lot safer strategy than buying random alt coins whose investors made millions during an ICO with nothing more than a white paper with a promise that someday the project will be coded without any commitments.

Sort:  

Do you think that most alt coins are false promises or that there are some out there that are legit?

Think of it this way : when was the last time you saw a major stock ipo with nothing more than a white paper and a promise? You would get laughed at for investing in a company like that on Wall Street, yet this happens daily in crypto. You gotta accept that this is a bubble just like the dot com bubble a decade ago, you can still make bucket loads of money in a bubble - by trading to exploit inefficiencies in the market. Buying a random project to hodle without any evidence of the company's product (ETH and NEO are legit) is gambling as I see it, but there is nothing wrong with trading that project to profit off the backs of others who are the "dumb money" in the marketplace.