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How to make money in ethereum, from high to low risk: 1. Dump the leftovers of your bi-weekly software engineering paycheck into buying ETH, BTC, or whichever
by che_shirecat 9y ago
How to make money in ethereum, from high to low risk:
1. Dump the leftovers of your bi-weekly software engineering paycheck into buying ETH, BTC, or whichever altcoin is popular this week. It went up 5000% in the past, it's got to keep growing right?
2. Participate in an ICO and stock up on whatever platform token they're hawking. It's more profitable if you get in early due to some presale mechanism (hopefully here you aren't sending your hard-earned digital currency to a hacker's wallet). Sell these tokens about 4-5 days after the sale closes, before the hype dies down and the bagholders realize they're holding sand.
3. Even more profitable is kicking off your own ICO. Go through the checklist - fancy HTML5 theme that you can buy off of Themeforest and edit the HTML a bit for the landing page, create a Slack channel/Twitter account/subreddit, write a "whitepaper" that is easy enough for the shmucks you're targeting to understand, yet replete with enough pseudo-academic crypto jargon and irrelevant/unnecessary mathematical symbols to get the shmucks nodding their heads and pretending to understand how this particular algorithm/equation based on the "turing-complete ethereum blockchain" will "change the world" or "bank the unbanked" or, more importantly to them, appreciate 500x in value. Don't forget listing the members of your team and advisors, ideally with as much credential signalling as you can - "MIT," "Stanford," "Comp Sci Phd," "McKinsey," all work here, fake it till you make it and make sure you list Vitalik Buterin on your list of advisors just for that extra bit of technical legitimacy. Use centuries-old sales tactics to pitch your ICO - butter up your target audience's sense of superiority by emphasizing exclusivity - they're the only clever ones, they're the genius computer nerds who understand the 1000x potential of your algorithm, they're the ones that are breaking free of the shackles of regulated securities. Create a sense of urgency with a ticking timer on your landing page, a 24-hour window to buy your monopoly money, a subtle/not-so-subtle hint that the earlier you get in, the more you'll make.
4. You could always just put on your black hat and rob these extremely soft targets blind. The simpler the method, it seems, the better. Plus, there's absolutely no risk of ever being held accountable - that's the beauty of anonymous cryptocurrency!
- arkitaip 9y agoturning your comment into a 10-week pdf course as we speak, just gonna pick a theme over ath theme forest brb
- pavel_lishin 9y agoCould I invest in your course academy via some sort of ICO?
- Steeeve 9y agoCoursecoin is going to change the academic world altogether. The combination of a distributed ledger algorithm with online academia opens up a world of education to people who otherwise could not afford it. Student loans are out of control, but with course coin, the students earn their tuition by mining coins. All the overhead of an academic institution is distributed over a wide array of systems that are responsible for keeping track of enrollment, grades, and personal progress on the blockchain. Teachers get paid better because they get paid in coursecoins as they are mined. They have an actual incentive for their students to remain interested and to succeed. The ICO will be raising money to bring on new material and for marketing of the courses. We expect 100,000 students in the first quarter, at which point the coin value on the open market is expected to skyrocket beyond all other blockchain coins. Send your donation or investment money to coursecoin@gmail.com (seriously, please don't.). We will handle the rest. If you'd like to see our white paper, check it out. https://futureoflife.org/data/documents/research_survey.pdf https://futureoflife.org/data/documents/research_survey.pdf
- JoblessWonder 9y agoCoursecoin regrets to inform its prospective student-investor-miners that there was a compromise to the secure ICO system before launch. There will be no courses or refunds. Thank you for your interest and investment in Coursecoin.
- kbenson 9y ago> there was a compromise to the secure ICO system before launch. I assume that's a typo, and you mean before lunch on the day it was announced. :)
- deleted 9y ago[deleted]
- beepboopbeep 9y agoBut this is a good thing.
- loceng 9y agoFor who? Is it a good thing for everyone? Why, why not?
- eganist 9y agoRegarding #3, user uetokenceo did that with uetoken.com and put far less effort into it than what you described, to at least some decent effect.
- jacquesm 9y ago5. Set up an exchange, wait a few weeks, abscond with bitcoin/ether/whatever you've got.
- conception 9y agoThe best part is you can mix 3 and 4 together! Rob yourself! All the money, no effort and no accountability!
- hinkley 9y agoThis sounds like The Producers meets Sneakers.
- zitterbewegung 9y agoTBH I would watch that movie / tv show.
- ransom1538 9y agoI think it can all be automated: 1) Have the bot build the currency here: http://build-a-co.in http://build-a-co.in 2) Generate HTML5 pages 3) Submit to twitter (focus on new york area) / make tshirts
- quoquoquo 9y agoholy cow! that's so out of this world, you can now generate a whole new coin.
- rounce 9y agoWelcome to 2013.
- roywiggins 9y agoNow you just need to do an ICO for a "CoinCoin" that automates ICOs.
- komali2 9y ago>make tshirts Oh snap I just had the craziest business idea. Get this. I make tshirts... then I sell them. I'm gonna go tell the folks at /r/entrepreneur!
- SkyMarshal 9y agoFunny but ironic, b/c your list is actually in reverse order, from low to high risk, not high to low. The lowest risk thing to do is actually just buy BTC & ETH and let the associated frenzy of ICOs and cryptoassets drive them higher while remaining relatively liquid and legal. #2 - #4 are sequentially higher risk from potentially illiquid (tokens) to grey area (ICO) to illegal, and the SEC has shown they have patience, reach, and savvy.
- ascendantlogic 9y agoI wonder if this is what the curmudgeons from the 70's and 80's sounded like during the web 1.0 boom of the mid-to-late 90's
- psyc 9y agoI find the economic promise of the nascent Internet objectively more plausible than the promises of ~1000 altcoins.
- ascendantlogic 9y agoAnd just like I said, I'm sure all the neckbeards from the 70's and 80's felt the same way about the Internet and shit like Geocities and pets.com. But hey, I'm sure it's "different" this time, right? You're right and everyone in the crypto space is wrong.
- psyc 9y agoIt's funny that we can take totally opposite lessons from "I'm sure it's different this time".
- ascendantlogic 9y agoGiven the fact that we're discussing this in the comments of a popular link aggregator for a VC firm/startup accelerator, I'd wager if Internet 1.0 hadn't happened we wouldn't be here.
- dragontamer 9y ago> And just like I said, I'm sure all the neckbeards from the 70's and 80's felt the same way about the Internet and shit like Geocities and pets.com. But they weren't wrong. Geocities and Pets.com died without making very much money. The giants of the Internet were Search Engines, Online Shopping, Video Sharing, and Social Networks. The giants of "Blockchain" probably either in awful, primodial form (ie: Pets.com was online shopping, but a terrible experience. Geocities was also a social network... albeit a bad one by today's standards). So today's coins probably will fail to some new coin made 3 or 4 years from now which really figures out the "killer app" of Blockchain. ------------ I think its fair to say that "Blockchain" as a technology will exist in the future. Back in the 90s, one could reasonably expect that "Jerry and David's Guide to the World Wide Web" was going to be the primary methodology of looking for new websites... before the Search Engine was perfected. So many people lost their life savings chasing after fad technologies of the 90s, Webvan being one of the most notable. Billions of dollars invested and lost into just... awful ideas that no one understood. Frankly, the neckbeards of the 80s were right. The vast majority of 90s webpages were utter crap without a business model.
- nurettin 9y agoDon't forget to use a Kickstarter campaign to pay for all the themes, text editing, soda drinking and online browsing costs 10.000x