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RE: Quick reflection on cryptocurrencies and blockchain investing
I agree with you and I never said financial gains are bad, the beauty of blockchain is monetizing on social problems so obviously the financial incentive is incredibly important. I just wanted to make the point that as investors we need to be careful about being manipulated into buying ripple or whatever else large sums of capital moves towards, because inevitably we are hurting coins that deserve attention
Yes, we are definitely on the same side about this one. In my strategy, I actually don't mind putting money on coins I don't like or support, I trade these and put the profits on my long-term investments. It's a clear separation of trade and investment.
I actually just wrote a short post about this if you're interested.
https://steemit.com/cryptocurrency/@fabes/investing-differently
I could not agree with you more. Who am I to predict which ones are going to go up or down? I'm invested in about 200 of the most popular coins (I have accounts on 7 or 8 marketplaces), including ripple with the classic HODL strategy. However, I have a problem with people throwing everything into XRP and pumping it and moving that money away from those other ones. It's not the best point to make I guess, but I just think people should be wary. EVERYONE should invest exactly how you are describing, but I see a lot of pumping and dumping instead, which I think can be harmful in some cases, especially if people are blindly throwing themselves into Ripple specifically