Quote: (10-08-2017 12:38 PM)churros Wrote:
It's becoming clear to me that, without getting really deep into this, daytrading shitcoins is essentially gambling. I'm not willing to invest sums which would justify investment of my time and attention.
So I'm going 70% into bitcoin/ethereum, and 30% into shitcoins, which I won't look at again for one year. My picks are ODN, LINK, and MTL. What do you guys think about this strategy?
If daytrading is gambling, then hodling is going up to the table, plunking down the money, and then walking away praying that no one takes it.
MTL: Is down to something like half its value from where it was 2 weeks ago, and is literally resting on its last support. If it breaks this I don't know what happens. Their underlying economic model also seems sketchy as shit to me, but that may be that I haven't looked at it enough yet.
ODN: Lead dev just left. It was revealed that their messenger app is a reskin of a project called VisualCrypt that doesn't even use a blockchain at all. KYC-less ICO means it's going to have trouble getting anywhere except winning a poll of the month with Binance, which is no longer possible given how crappy the community mood is. If it languishes on Cryptopia and hit BTC the thing's long-term value is basically 0.
LINK: If SIBOS underwhelms this thing is completely dead. Will it? I don't know, but if you don't monitor it you're taking a huge chance.
ETH: Its technological flaws are starting to show. I didn't realize how huge the security risks for it were until I ran a silly little giveaway for a free coin and something like 10% of users gave me their private key instead of their public one. Gas transfer costs are insane. If there are implementation problems with Metropolis, raiden, etc. then we may never see 400$ ETH again as newer blockchains come to take it over.