I’ll try to make this educational and tone down on the sarcasm.
3 videos for you to watch first:
1) CryptoLark giving you the down low on Crypto Investing
2) Ameer Rosic throwing down some ICO knowledge
3) Kenny Rogers teaching you how to play the game right
Crypto is dangerous, but also potentially very profitable.
ICOs are mostly bullshit.
You have to know when you hold ’em and when to fold ’em.
GMGH notes / rant:
I’ll be the first to admit that I have profited massively – MASSIVELY – on “investing” in crypto.
I say “investing” since 99/100 people you’d conventionally look for financial wisdom to will call me a degenerate gambler and that this whole hocus pocus thing is a scam and I’m just lucky that this whole ponzi hasn’t collapsed in my face…. yet.
But I am a degenerate gambler that has been winning. Admittedly, my winnings are less with this recent crypto crash, but its still winnings and not losses.
And yes, so far it is all mostly paper profits (I have cashed out before, stop freaking asking me if cryptos can be cashed out, FFS) , but guess what? I have enough paper profits that this whole market could drop another 50% from these levels and I’d still be in ridiculous – REDICKULOUS – profits.
I don’t follow any gurus. All the personalities that I follow are to help me with idea generation and to give different point of views. One thing though, is that I never follow people blindly, even those with good track records.
At the end of the day, I still do my own research, think very hard about the future, and I pull the trigger and make my own decisions on what to buy, what to sell, when and how much.
If you can’t be critical on projects, accepting of flaws and open to new ideas, this space will kill you very quickly. Ideas a few months ago which I though were great, I have dumped and I now own zero. **COUGH COUGH KYBER COUGH COUGH**
That’s the problem, ain’t it? If you follow people to buy stuff, you are definitely buying it later and usually higher than them. And when they exit, you never know.
This ain’t some chicken shit ETF DCA strategy. If it was, the whole world would be rich. There’s a shit ton you need to know to excel in this sector.
Stay safe and don’t get rekt. If you don’t know what you’re doing, please don’t even start.