New to crypto investing/gambling but I still think there's going to be some good gains in alts. I dont mind losing all the money but want big gains for the risk. When I look for coins I like to look at market differentiators.
What do you guys think of these choices:
-3.5k xrp (likely in coinbase soon, will have institutional support soon as well)
-2.5k eng (good on privacy, solid marketing for the pump with MIT team, MIT backer, potential for large returns)
-1.75 xmr (king of privacy, worst case dark net still uses it lol)
-1.5k iota (unique dag technology, fast m2m)
-0.5 xrb (unique dag tech, p2p without cost)
-0.1 req (kind of like paypal, doesn't seems more like a specific application so could be replaced by say venmo using ether)
I've gone through a lot of coins and it seems like most are a scam. Lots of pump and dump. Look at Macafee for instance. Also go to their pages and some of them had a white paper link that didnt bring you anywhere lol. Anyways most of them would just list the same advantages that any crypto has so I was unconvinced. Also industry specific coins like DENT seem like trash.
Open to suggestions.
Cryptocurrencies have zero underlying value. Zero. The closest to those with real value are the bond like tokens in Ripple that are in theory redeemable for fiat.
Cryptocurrencies are not scarce. New cryptocurrencies can be made out of thin air. There is nothing backing them. Even if they were the future, there is no reason to believe their current valuations are sustainable. At its current valuation, bitcoin is all but useless except as a reserve. A reserve based on the value of thin air.
Yeah you can probably make some money. You can also lose it all. Its literally gambling not investing. And you're late to the party.
The exponential growth we have seen cannot continue much longer. Without exponential growth, market participants will react in fear and start dumping, leading to more and more dumping.
Before someone compares bitcoin to gold, Trump doesn't have a bitcoin toilet seat. Women don't want a bitcoin ring to brag to their friends. Silicon chips don't use bitcoin to increase conductivity.