Originally Posted by lacrossewacker
nice! thanks for the play-by-play, it's good insight for inexperienced folks such as myself.
I don't know if I'd call myself 'experienced' or just 'pretty lucky' - I think counting on almost anything in the crypto currency markets is mostly just dumb luck... but the rest comes down to serious due diligence as far as considering which coins are technically superior, which ones are socially
superior, and which ones are just the 'special of the day'.
So far I've been an early adopter in:
And an early 'quitter' of:
The reasons this has worked out well for me (not fantastically in comparison to some, but still very well) was about half luck and the other half just research. Of course if there was such a thing as a 'third half' I'd say that's simply never expecting to make anything
off of any of it is that part. Things are much different for those miners that have to try to make a monthly income from coins, and for those that have the sack to throw investment money into cryptos. Although I've made some gains mining - they've always been minimal as opposed to just accumulating and holding long-term, or trading on exchange volatility.
For that the luck and research are critical above everything else. BTC/LTC were safe bets simply because they were all there was at the time, and on the BTC side I was early enough to mine some and just forget about them (because at the time they were worth only a few dollars). DOGE was also a safe bet simply because there was so much social hype - despite the coin itself bringing nothing new to the table at all. NUT is my one really big gamble - and one that I almost didn't take at all. When I was researching the coin I didn't see anything 'wrong' with it - but I didn't see anything 'right' with it either really. However, community goes a long way and the fact that the community of NUT holders is (generally at least) more patient, committed, and supportive of the coin and it's future tells me that it's unlikely to be completely worthless down the road - how far 'north' of worthless it gets is anyone's guess however.