Learn crypto the right way

I totally understand that currently people are drawn into crypto for hopes of achieving crazy financial gains. But purely tackling this from speculation point of view, it’ll be super hard to avoid getting burnt like those that got burnt in 2017-18 bull run + the ico craze.

I was browsing through this lounge, and I’m still seeing many & many shitcoin shills.

First you need to compare these coins based on their purpose:

“SoV” - obviously the coin we all know: BTC. The challengers could be DCR, ZEC (both are forks of BTC with different governance model + great dev community). LTC have 0 dev activity and of course BCH, BSV aren’t real bitcoin.

If you’ve read bitcoin whitepaper, its original goal was to enable p2p payment. But we all know BTC cant scale to handle 1000s of txns like visa unless it sacrifices decentralization. If you are convinced on the value of gold, you can see bitcoin as gold 2.0 (btc market cap 0.2T and gold market cap 7T)

Smart contract platform (this is what everyone should look at closely, especially devs) - first place currently is ETH and there is no second place, rest are shitcoins (EOS, NEO, ADA, and many other smart contract blockchains)

The reason why I only say ETH, many reasons:
- ETH dev community dwarfs all other blockchain dev communities by a lot, i mean a lot. Little to no activity on other blockchains. By activity, Im talking about developers that build apps and tools on top of the blockchain.
- ETH is making its name in #DeFi (decentralized finance) currently 500M+ is locked into dApps (decentralized apps) ranging from lending, borrowing, derivatives, exchanges. Real life use cases are transitioning. Legit projects like https://compound.finance and dydx who are backed by top investors in SV.
- There are many many quality dApps in Ethereum, it’s not just gambling where EOS and TRON are only used for. Check out https://tryethereum.today especially Cent.co (hybrid of medium and twitter, where you can earn money for your own content)

Rest of shitcoins, go to each one of them, and try to find a dApp. And see if you can even interact with those dApps lol you’ll see what I mean by “quality”.

Basically what I want to deliver is that crypto won’t be around only for “speculation”. The transition from Web2 to Web3 is happening as we speak. I’m not telling you to detach yourself totally from prices and speculation, but make sure to open your eyes for the next revolution where Web3 will take over.

The more you get into this space, not only will you be able to distinguish legit coins vs shitcoin, but you’ll actually see the value of web3. Happy to answer more questions. I’ve been full time on crypto for a few years.