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Blockchain Tech and Cryptocurrencies

Alright so here's the deal

A Premier League info/rumor account named @indykaila made a tweet (it has since been deleted) a few weeks back that a massive $OMI announcement was in the works and imminent. Both the official ECOMI and VEVE accounts follow the guy AND responded to the tweet positively.

 
I simultaneously want everyone invested in cryptos to lose all their money while wanting to invest a large amount in them myself. Such a dilemma. Doge coin is a meme with a $17B market cap.
 
sd3 - Dude, it's starting to come off like a pump and dump. Not by you, but by ecomi. There's always a major announcement on the horizon that gets pushed off or is completely underwhelming. Or there is always going to a rumored association/deal, or someone related to the company worked with someone else connected to something big in the past and OMG he's gonna make deals here too.

Not shitting on you, but I've seen this play out so many times over the years and the only people getting rich are the ones in on day 1 who created the token and pushed it.

I've got less than 1k in this so I'm not really at risk here, but it looks like it's going to take a giant shit on the people who threw stacks behind it.
 
I actually do think blockchain and cryptos are here to stay and flourish, but also feel like 70% of them won't be around in 2 or 3 years and are just riding the coattails of the industry. I've bought ETH as it seems like the backbone of most applications, but most others seem like quick trades rather than investments.
 
sd3 - Dude, it's starting to come off like a pump and dump. Not by you, but by ecomi. There's always a major announcement on the horizon that gets pushed off or is completely underwhelming. Or there is always going to a rumored association/deal, or someone related to the company worked with someone else connected to something big in the past and OMG he's gonna make deals here too.

Not shitting on you, but I've seen this play out so many times over the years and the only people getting rich are the ones in on day 1 who created the token and pushed it.

I've got less than 1k in this so I'm not really at risk here, but it looks like it's going to take a giant shit on the people who threw stacks behind it.

Fair view to have. I'm sitting on 13,000,000 coins, so bring me a towel if someone get's shit on.

A lot of that is just the nature of crypto. You have folks worldwide pushing rumors and news. All coins experience this type of stuff.

Good news here is this has been a working project/product for 4 years now. I don't think pump and dump is accurate. The product is too advanced and demand is at an all time high currently. Still only available on shit exchanges. Still not in the top #80 of crypto market cap.

This last month has sucked, but I'm betting on better times ahead.
 
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What's the most widely used wallet for this stuff? I finally secured some OMI this morning and I'm not exactly sure where to keep it (it's on Bitforex at the moment.) In case it's important, I'm an Android user.
 
It cost 1 OMI to transfer off of Bitforex. The first time I bought and transferred, the cost was 10,000 OMI.
 
Market cap is the number of tokens (on the stock market shares) that are presently circulating and outstanding multiplied by the price per token (share).

Fully diluted market cap references the total number of tokens that might ever be outstanding and circulated multiplied by the price per token.

I'd focus more on market cap in crypto with one caveat. If the project talks about when tokens will be released and is going to flood the market in a relatively quick time frame with more tokens, then you have to take into account fully diluted market cap and ask if the project is over valued.

Consider bitcoin. At present I think there are about 17.5M tokens outstanding. Over the next 120 years the remaining 2.5M tokens will be released. I would not get too concerned about the fully diluted market cap and would focus on the market cap instead.

Does that help?

Yes, thank you.
 
I actually do think blockchain and cryptos are here to stay and flourish, but also feel like 70% of them won't be around in 2 or 3 years and are just riding the coattails of the industry. I've bought ETH as it seems like the backbone of most applications, but most others seem like quick trades rather than investments.
smart man
 
I actually do think blockchain and cryptos are here to stay and flourish, but also feel like 70% of them won't be around in 2 or 3 years and are just riding the coattails of the industry. I've bought ETH as it seems like the backbone of most applications, but most others seem like quick trades rather than investments.

Buy a bundle of projects you think have a solid chance to succeed. Focus on the larger caps but sprinkle in some mid and low caps. Take profits (cut losses) as you go to assure you are managing risk. Ultimately the play you are making is a simple asymmetric bet.

Market cap of all crypto is ~2.25T
Market cap of gold is ~10T
Market cap of all financial instruments is ~400-500T

If you are not "long" on this asset class you are short. And if you are long you are invested in a space with an unbelievable risk to reward profile. Sure, you could lose 100% what you invest in any one project (although that seems unlikely if you manage risk). You also are investing in a space that over 10 years might, say, 10-50x. There is no other asset class that offers that risk to reward profile. Like this literally could represent the largest transfer of wealth among "investors" in your lifetime.
 
Buy a bundle of projects you think have a solid chance to succeed. Focus on the larger caps but sprinkle in some mid and low caps. Take profits (cut losses) as you go to assure you are managing risk. Ultimately the play you are making is a simple asymmetric bet.

Market cap of all crypto is ~2.25T
Market cap of gold is ~10T
Market cap of all financial instruments is ~400-500T

If you are not "long" on this asset class you are short. And if you are long you are invested in a space with an unbelievable risk to reward profile. Sure, you could lose 100% what you invest in any one project (although that seems unlikely if you manage risk). You also are investing in a space that over 10 years might, say, 10-50x. There is no other asset class that offers that risk to reward profile. Like this literally could represent the largest transfer of wealth among "investors" in your lifetime.

So you're saying the dog coin is my best bet?

Appreciate the advice - I agree with the overall direction and your strategy makes sense. I just don't like investing in a lot of these projects which I don't understand their value in the slightest. The technology side I get but the desire for a NFT of two anime cats mating being worth $40B is the part that gives me pause. I suppose you can only lose 100% of your investment in those projects but if you hit on a couple at 10x-20x, you're winning.
 
So you're saying the dog coin is my best bet?

Appreciate the advice - I agree with the overall direction and your strategy makes sense. I just don't like investing in a lot of these projects which I don't understand their value in the slightest. The technology side I get but the desire for a NFT of two anime cats mating being worth $40B is the part that gives me pause. I suppose you can only lose 100% of your investment in those projects but if you hit on a couple at 10x-20x, you're winning.

Exactly on the 10x to 20x on a few projects.

Invest in NFT infrastructure. The main NFT use case is not going to be collectibles and meme art. As but one example, you NFT a specific asset that generates cash in the real world and deliver cash flows to those that hold a portion of the NFT. The NFT is both divisible and fully transferable. It is incredibly powerful tech.

Again, ultimately if you aren't long on this space you might as well be short. Let me put it this way, do you think there are decent odds the entire crypto space exceeds the market cap of gold in the next decade? If so, you should definitely be long in this space bc we're 5x away from that. You put in whatever you can afford to lose and keep an eye on it.

Also, consider that BTC has a market cap of over 1T USD. It did this in 12 years. It took each of microsoft, amazon and google 10-30 years longer to reach that same valuation. Then consider that BTC has far less utility use cases than ETH. I'm not saying ETH will definitely outstrip BTC, but it certainly is a possibility. You are basically betting on the democratization of money.

I'm pretty old and no investing genius. My wife and I took about 3% of our net worth and invested it in blockchain crypto starting last May/June. It is the single best investment choice we have ever made. And I think it is still really early.
 
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good for you DeacMan and I appreciate your insights on this

when I first started I accidentally bought BCH thinking it was BTC and it’s been incredible
 
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