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There's still plenty of opportunities in the space. You're not likely to ever be able to buy a full bitcoin for $4.00 ever again, but there's other coins that m
by cableshaft 9y ago
There's still plenty of opportunities in the space. You're not likely to ever be able to buy a full bitcoin for $4.00 ever again, but there's other coins that might also find success. Ethereum has gone up 35x since the announcement that it was being added to Coinbase right here on hacker news back in February 2017. Litecoin has gone up 3x since the announcement that it was added to Coinbase here on Hacker News since then. Neo has gone up 4x since the beginning of August, Monero has gone up almost 3x since two weeks ago. But not every alt-coin will be successful, and figuring out which ones will go up, and when, and how long they'll keep going up, is the tough bit.
And while it's hard to do, you could try riding the waves of bitcoin, sell when it reaches an all-time-high, and buy during the inevitable correction, slowly increasing how many coins you have without spending any extra money along the way. Bitcoin is volatile enough that it's difficult to time, though, and personally I just buy a little bit every week and hold.
But that's the same in a gold rush, not every person who went to California to pan for gold found anything worth a damn. It's risky as hell, but if you can afford a little risk, and are willing to immerse yourself in the world a bit so you can increase your chance that the risk you take will be a profitable one, you could still make a lot of money here.
And if you can build a service to wrap around cryptocurrency that doesn't already exist or has a bad solution, you could potentially make good money there too. (Sell the shovels, as it were). Coinbase makes a percent every time someone buys or sells coins on their service, no matter what the price is, they don't care, as long as people keep coming to them.
There's also alt-coins that are low enough on everyone's radar that you can mine them, and hope that at some point they catch on, or get targeted for a pump and dump (which I've seen happen for many coins). Just mine coins in it and keep an eye on it and wait until it shoots up in price and sell before it has a chance to drop again. I don't really recommend this, but it's an option.
And finally, ICOs are hot right now. Do your research, come up with an idea that could be funded with an ICO, and take a shot at building a company funded with your own ICO. Stupid risky, but yet another opportunity that clearly some people are taking advantage of and quickly getting a jumpstart on their companies with them.
Just because one opportunity is no longer feasible doesn't mean that all opportunities have disappeared. In fact, there's a lot more different approaches to finding success with cryptocurrencies than there was 6+ years ago, where you pretty much could only mine a bunch of coins and struggle to find anybody who would give you money for them.