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RE: Newbies are Chasing Shiny Objects in Crypto Currency Trading.
How do you find about upcoming projects to invest in them early?
By the time I've heard and want to get in it already feels too late. AntShares for example went crazy earlier in the week. I was tempted to get on board but they're already risen substantially, still had further too go but I always feel like i've just missed the boat
i was just thinking the same about antshares.
Find projects you like and accumulate the tokens when no one is watching. Siacoin is a perfect example of a token that I have been accumulating for a while. I researched the project and liked what I saw. I bought at around $.01 and now it has doubled. I am hoping for a 10X move in the next year. No need to sell when you buy super cheap. Antshares was a good example of a screw up for me. I bought months ago when it was under $1. I sold about 4 weeks ago before the big move and missed out on the 10X move. Patience is key.
I've been eyeing off Sia and Golem. Got a small amount of Golem but after hearing the news about SIA getting ASIC devices yesterday I decided not to invest, what are you thoughts on this? It'll shut most small time miners out of the network due to it no longer being profitable to mine on a cpu/gpu
Although I really like the idea of SIA and I find it hard to believe that the value will continue to increase when it is far cheaper to pay for AWS or other storage. I want to believe though, I keep looking at cheap coins that're under $1 per coin because I don't have much initial capital to invest
I did not know about the Asic miner news. I will have to look into it more.
It hasn't appeared to affect the price in the way I expected. I may be wrong about thinking Sia is over valued.
Good to hear u pros still miss out sometimes, am exactly the guy u described up there reading up trying to findprojects i like. Thanks for your hilarious description of me lol
I got into Antshares about 3.50, but stayed in when it drove up to 14 before settling back down to what it is today. So my problem is not getting out at the right time.
Patience is definitely key and I think it helps to have a predetermined exit strategy in place before making any trade, especially in #cryptocurrency. If one's time horizon is long-term, there is minimal reason to sell aside from recouping the principal stake upon significant appreciation in the underlying asset.
Ultimately, it's exciting to be a witness to the advancement of #blockchain technology from early on in its adoption. I joined #steemit to engage in thoughtful conversations like this and appreciate your post on the responsibilities inherent to navigating the crypto market.