LINK of ChainLink seems like a solid choice. Other than that I don’t have many suggestions. I like Tezos (XTZ) because you can earn passively with the POS baking (or delegating) process but altcoins are not performing that well and at this point all we can do is wait to see if they make a comeback.
My thoughts are eventually they will because if there is a way to make money while BTC corrects it will usually be taken. Then again, whales may know the general public would expect such a thing and find another avenue but retail investors who think BTC is too pricy once it gets way up there and they feel they’ve missed the boat will buy the “next best thing” which is usually ETH, maybe EOS, or LTC. Whichever ones are easily accessible with more mainstream name recognition and a cheaper price.
@Nigel just replied to my post, but there happened a relocation of off-topic posts that came in between. So I’ll just repost right here in hopes for other replies:
Any ideas what to do with altcoins? I mean in regards to trading - and actually what to do with them in general, too?
I guess I have ever used four cryptocurrencies for anything else than trying to get rich quick:
BTC - buy products that I would not have been able to buy with any other currency.
XMR - buy the same kind of products - hopefully in a bit more privately.
LTC - move money from exchange A to B quicker than with BTC
ETH - move money from exchange A to B quicker than with BTC
What have you used different coins for? Did you use them because they were particularly good for the purpose, or did you just want to experiment a bit?
I own about 25 different cryptos. Why so many? Because I don’t know what to do with them, but at some point they have seemed to have some potential. Most of them I have bought just a little with the thought that “maybe this one becomes the currency of the World”. Some of them seemed to have some potential for new clever use case apart form just money. Some of them I bought bigger chunks in 2017, and later decided to sell, but left just a little amount in case that it would somehow turn out to be the winner, in which case very little could go a long way.
My holdings at the moment:
MAID 33%
BTC 31%
ETH 9%
XMR 8%
cumulative 81%
FCT 6%
NEO 4%
DASH 2%
XLM 1%
cumulative 94%
all the following less than 1%
NANO
IOTA
MANA
ADA
XEM
GNT
ETC
ARK
QTUM
ARDR
NMR
ANT
SNM
OMG
STRAT
XRP
PIVX
Alts have been taking a lot fo hit during the recent/current BTC bull run. I expect the damage to be somewhat permanent except for some alts that deliver real value via some other route than just being “slightly better money”, because I think Facebooks Libra will fill that gap.
So are there any alts worth checking out, and why?
Also, I’ll appreciate any comments on my portfolio.
I admittedly haven’t looked at the chart in awhile but even before a lot of this news it was quite constructive but keep in mind sometimes any “news” of these kinds of things being known or published can be priced in. Buy the rumor, sell the news I suppose. Not financial advice, I’m not a financial advisor
Just suggesting you look into it yourself to see what you think of it.
Ethereum is also a web3 play. I’ve built a decentralized website with it before. There is a contract that acts as a decentralized DNS known as ENS (ethereum name service). You register your name and add address resolution info. So you can tie your name to a Swarm bzz or IPFS content hash. This all worked through the Mist browser back when I tried it, but that’s deprecated now. Now other browsers associated with Ethereum like Brave and Opera, among others, may or at least should soon provide similar functionality.
In addition to web3, DeFi (decentralized finance…so like crypto collateral backed lending) apps are gaining popularity lately. See MakerDAO, Uniswap, Compound, Dharma, dydx, etc
Another blossoming area is in game assets, like Loom network. The games run on layer 2 (plasma), so they are supposed to be fast and fluid. Different games can share the same player assets, so that is another idea with similarities to SAFE network.
So I read a bit about LINK and moved about 0.5% of my portfolio into it. Thank you @nigel for pointing this out and thanks for not giving me financial advice.
It seems to me that they have spotted real problem about reliability of data for smart contract execution and offer a solution for it. Maybe they’ll someday bridge data from Safenet to Oldnet?
Not sure how good moment it was for buying though, as the price has been skyrocketing. In situations like these I usually buy quickly some very small amount out of FOMO, then do some more research and make further decisions.
I an interview a Finnish cryptoexchange CEO said that the recent BTC rally was caused by people that have already invested in bitcoin earlier. Not much new folks, but maybe some institutional investors.
Based on these assumptions I make a prediction: BTC will go sideways at around 7000$ -10000$ for 4-6 months and then start rising again. During this time altcoins will gain value relative to BTC but not like they did in 2017 - early 2018.
I think that those who have invested earlier, don’t have money or will to buy very much more. Institutional investors… probably there are some, but I’ll believe when I see. Folks who have been around, will buy alts as they expect them to rise at least somewhat, like they did in 2017. New people will start to buy when they see that bitcoin is not going to crash back down to 3000$ - 4000$ and feel bit safer to buy. Not crashing is important for ordinary folks whether they already have money in cryptos or total newbies. It is not the rise of tops that matters, but rise of bottoms.
All above is very unprofessional and based on feelings rather than careful analysis. I thought it might be fun to to write some kind of prediction based on my own gut and then see if it materializes or not. I want more fun
That’s not my experience unless you think a screenshot and tagine is adequate. I don’t and I don’t watch anything unless I’m given a reason to spend my time on finding out if it is likely to be of interest and a tagine rarely does that.
It takes a few seconds to say why you think this will interest others, but if people don’t do that they are expecting everyone else to spend the time it takes to watch and find out what is there and whether it is of interest. It’s kind of assuming well if it interests me, it must interest or be worth the same time as others.
Does anyone know much about Legolas exchange? It’s looking to launch end of September and it sounds quite interesting how they are allowing you to trade using a Ledger, so you don’t have to keep coins on the exchange. Sounds like the right direction exchanges should be going. They have a token called LGO.
