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>but at the same time there are still legitimate projects being started right now that could become very valuable in the next couple of years. Care to name a f

by rublev 9y ago

>but at the same time there are still legitimate projects being started right now that could become very valuable in the next couple of years. Care to name a few?

askafriend 9y ago
Everyone knows Bitcoin, ETH, and LTC which are all easily purchasable via Coinbase. But the general public is still lacking exposure to projects such as EOS, XLM (YC backed), REQ (YC backed), VEN, and many others. Not only are they lacking exposure but it's a complicated, risky, error-prone process to actually buy in to these projects/tokens even for those who are technically apt. That's how early these projects are. Plus you'd need to register for an account on an exchange that actually carries these tokens and many are not accepting new users because they can't handle the load. It's a giant pain in the ass but there is a lot of money to be made (I'm up 3-5x already on much of my initial investments). There is an artificial lack of access built into the market because of what I described above. Institutional capital and dumb money is still only really tuned into BTC/ETH.
- jhwang5 9y ago
  1)None of the "legitimate" projects you cited have actually delivered any products or revenue. 2)The whole market is up 5x in December 2017 alone, so I wouldn't say 5x return makes you a genius - it's like saying you are performing at that asset class's benchmark. Note, this is also just one sample. 3)If we unpack your reasoning closely, you seem to assume that further upside is inevitable if altcoins get easier to buy. I guess it's unthinkable that these coins accrue through revenue, right?
  - askafriend 9y ago
    The value is in the network of people invested in it and that continue to invest in it. To look at these projects the same way you'd look at a private company or a public company would be to completely miss the point. The point is not to deliver revenue or GAAP numbers. The point is to deliver and continue to support a robust network through a governance model that people believe in and where the incentives are correctly aligned between the token holders and the supporting foundation. I think that's the reason why so many people have trouble understanding the space. Fundamentally networks are what make humans so powerful. The USA is nothing more than a network of people that agree on a set of shared principles. The growth of a network's value isn't linear. A network that goes from 1 person to 2 people isn't twice as valuable, it's exponentially valuable and we're still in the really early stages of figuring out how to value these new, global networks that are forming rapidly. So the real answer is that we just don't know, but it seems clear that the old world rules don't quite apply. I never claimed I was a genius for generating 5x. I think you're putting words in my mouth. I'm not a genius. I just see an opportunity that I think a lot of people are missing. I think it's still very early in the space, and I'm making moves to take advantage of it. I'm willing to be wrong and lose 100% of my investment. I'm diversified into my holdings, I follow the projects and teams closely and in case of regulatory risk I have an exit strategy. I do think further upside is inevitable just based on the sheer demand hammering the exchanges which carry these altcoins. If anything, the influx of capital waiting to flow in will stabilize the prices further even though it may not strictly generate more upside. It'll at the very least set some more solid floors in place for existing asset prices.
- htormey 9y ago
  I agree with a lot of your comments on this post but I'm not sure if you want to include LTC in that list of examples. I can see BTC and ETH having long term value but I'm not so sure about LTC. LTC'S main claim to fame seems to be that Charlie (it's creator) was working at Coinbase and managed to get it listed there. Apart from that it appears to be a bunch of copy pasta code from other projects. If you want to see a perfect example of this, check out this post on why LTC is "faster" than BTC: https://twitter.com/r_Buttcoin/status/951585800147390464 https://twitter.com/r_Buttcoin/status/951585800147390464 The main thing I use LTC for right now is buying ALT's from other exchanges because its network fees are cheaper than ETH/BTC/BCH. I don't see this situation lasting forever especially considering Charlie (LTC'S creator) recently unloaded all of his LTC.
  - askafriend 9y ago
    I just used BTC/ETH/LTC as examples of coins that most who are remotely tuned into the space are aware of. That statement was not to be meant to be taken as an endorsement of any of those projects.
  - wellboy 9y ago
    >Apart from that it appears to be a bunch of copy pasta code from other projects If it takes the best of all blockhain projects, I'm all for that.

by rublev 9y ago

>but at the same time there are still legitimate projects being started right now that could become very valuable in the next couple of years. Care to name a few?

askafriend 9y ago

Everyone knows Bitcoin, ETH, and LTC which are all easily purchasable via Coinbase. But the general public is still lacking exposure to projects such as EOS, XLM (YC backed), REQ (YC backed), VEN, and many others. Not only are they lacking exposure but it's a complicated, risky, error-prone process to actually buy in to these projects/tokens even for those who are technically apt. That's how early these projects are. Plus you'd need to register for an account on an exchange that actually carries these tokens and many are not accepting new users because they can't handle the load. It's a giant pain in the ass but there is a lot of money to be made (I'm up 3-5x already on much of my initial investments). There is an artificial lack of access built into the market because of what I described above. Institutional capital and dumb money is still only really tuned into BTC/ETH.

jhwang5 9y ago
1)None of the "legitimate" projects you cited have actually delivered any products or revenue. 2)The whole market is up 5x in December 2017 alone, so I wouldn't say 5x return makes you a genius - it's like saying you are performing at that asset class's benchmark. Note, this is also just one sample. 3)If we unpack your reasoning closely, you seem to assume that further upside is inevitable if altcoins get easier to buy. I guess it's unthinkable that these coins accrue through revenue, right?
- askafriend 9y ago
  The value is in the network of people invested in it and that continue to invest in it. To look at these projects the same way you'd look at a private company or a public company would be to completely miss the point. The point is not to deliver revenue or GAAP numbers. The point is to deliver and continue to support a robust network through a governance model that people believe in and where the incentives are correctly aligned between the token holders and the supporting foundation. I think that's the reason why so many people have trouble understanding the space. Fundamentally networks are what make humans so powerful. The USA is nothing more than a network of people that agree on a set of shared principles. The growth of a network's value isn't linear. A network that goes from 1 person to 2 people isn't twice as valuable, it's exponentially valuable and we're still in the really early stages of figuring out how to value these new, global networks that are forming rapidly. So the real answer is that we just don't know, but it seems clear that the old world rules don't quite apply. I never claimed I was a genius for generating 5x. I think you're putting words in my mouth. I'm not a genius. I just see an opportunity that I think a lot of people are missing. I think it's still very early in the space, and I'm making moves to take advantage of it. I'm willing to be wrong and lose 100% of my investment. I'm diversified into my holdings, I follow the projects and teams closely and in case of regulatory risk I have an exit strategy. I do think further upside is inevitable just based on the sheer demand hammering the exchanges which carry these altcoins. If anything, the influx of capital waiting to flow in will stabilize the prices further even though it may not strictly generate more upside. It'll at the very least set some more solid floors in place for existing asset prices.
htormey 9y ago
I agree with a lot of your comments on this post but I'm not sure if you want to include LTC in that list of examples. I can see BTC and ETH having long term value but I'm not so sure about LTC. LTC'S main claim to fame seems to be that Charlie (it's creator) was working at Coinbase and managed to get it listed there. Apart from that it appears to be a bunch of copy pasta code from other projects. If you want to see a perfect example of this, check out this post on why LTC is "faster" than BTC: https://twitter.com/r_Buttcoin/status/951585800147390464 https://twitter.com/r_Buttcoin/status/951585800147390464 The main thing I use LTC for right now is buying ALT's from other exchanges because its network fees are cheaper than ETH/BTC/BCH. I don't see this situation lasting forever especially considering Charlie (LTC'S creator) recently unloaded all of his LTC.
- askafriend 9y ago
  I just used BTC/ETH/LTC as examples of coins that most who are remotely tuned into the space are aware of. That statement was not to be meant to be taken as an endorsement of any of those projects.
- wellboy 9y ago
  >Apart from that it appears to be a bunch of copy pasta code from other projects If it takes the best of all blockhain projects, I'm all for that.