Cryptocurrencies - an Idiots guide

[Behemoth]

NoIP said:

I stand by my closing comment on my previous post : he has a lot of BTC and is crapping himself that ETC/ETH are going to go viral in market share and render his BTC worth about £2.50.

I don't think the post says that and I don't think your hyperbole helps support your point of view.

His key point is that if you randomly invest in alternatives to Bitcoin without understanding the complex technologies & conceptual frameworks supporting them, then it's very likely indeed that you'll fail at the investment. He thinks a few of these alternative crypto coins or concepts will stay the course and succeed. I agree with him. It's very very unclear at this stage which of them will pull through.

I hold Ether and other alternative coins, by the way. I own a software company and understand the technologies to a fair degree. The ICO obfuscations and market strategies add complex dimensions to the technologies. It is not an easy space to analyse and the vast majority of alternative crypto-currencies will certainly fail. I've researched a brace of them over the past few years. Whilst I don't profess to know them all (there's not enough time in the day), what I see is a cacophony of young tech business showboaters plying for naive venture capital (and/or punter's ICO money) so they can build their dev teams and burn cash in the hope of coming up with a genius solution. It's very reminiscent of the dotcom boom circa 1999/2000.

[NoIP]

Behemoth said:

NoIP said:

I stand by my closing comment on my previous post : he has a lot of BTC and is crapping himself that ETC/ETH are going to go viral in market share and render his BTC worth about £2.50.

I don't think the post says that and I don't think your hyperbole helps support your point of view.

Nor does his hyperbole that all non-BTC crypto-currencies will be dead in 5 years.

I don't disagree with him that a lot of research and caution is required before diving into the murky world of crypto but if you can't see the very obvious BTC bias in his essay then I'd probably suggest you need your eyes testing.

[Behemoth]

NoIP said:

Nor does his hyperbole that all non-BTC crypto-currencies will be dead in 5 years.

You're absolutely wrong. He says:

said:

The vast majority of projects will fail within 5 years

Your interpretation of his piece is a classic illustration of confirmation bias

[NoIP]

Behemoth said:

Your interpretation of his piece is a classic illustration of confirmation bias

random guy said:

If it's not bitcoin, I can pretty much guarantee you'll lose money.

[...]

The vast majority of projects will fail within 5 years [talking about non-BTC cryptos]

[...]

Cryptos are the future, but almost none of these coins will survive 10 years [again talking about non-BTC cryptos]

There is no interpretation. That is exactly what he has written.

[Behemoth]

NoIP said:

There is no interpretation. That is exactly what he has written.

I rest my case. Good luck & bye bye

[btchudson]

Sir Snaz said:

Hi all .........wondered if there are any crypto specialists on here that could explain to an old luddite, in very janet and john language, how to get started with them?

and I am talking REAL basic stuff .....ive had a quick look this morning but I am still stuck at the first hurdle of buying some ......

Are there any websites or books or seminars that could give me a really good grounding?

thanks in advance

snaz

Hey Snaz,

I set up a company 3 years ago for exactly this reason. I'd be happy to discuss options with you and give you a no obligation intro into the space. I've been featured on IG Index a couple of times (youtube bitcoin etf ig) and im actually back on tomorrow to discuss recent developments.

Feel free to PM me if you'd like to have a chat.


Michael H