How can you recognize if a coin has a viable future or is just a PnD scheme? I just spent a couple hours reading posts from 2015 and people were calling ETH and LTC pump and dumps, but look at them now. This really makes me want to consider investing into a lot of so called "shitcoins" since evidently some of them hold true potential for growth.
>>2046845
how to shitcoin properly
1) wait for the inevitable crash
2) once the charts are decimated, throw some risk capital at the most promising ones that did well during the last pump cycle
3) wait some years
4) profit!
>>2046845
Basically two things
1. Benefits (how it's better than other coins, technologically or otherwise)
2. Community (how people trust it and are ready to use in the long term)
Some coins have more of a technological edge (Ripple), others have a community of supporters (Dogecoin), but any of those things makes a coin more stable
>>2046845
Even if a coin has a strong foundational concept, it can still be subject to pump and dumps.
But since it is the new en vogue asset class, you best invest in it. Just be reassured by the fact that a lot of the money that is going into it has the same quandary that you have.
Also, you are better off 'diversifying' by spreading your money around a few coins. BTC is floating all boats and many of the alt coins will go up by similar amounts.
>>2046876
This right here
Just divide each section of a dartboard up into different shitcoins and then go with whatever you hit.
>>2046845
FRANCS (FRN) on yobit is my shitcoin gamble.
its a legit coin but like suuper low cap.
my reasons:
> only legit french cryptocoin being developed in France
> dormant <$100k cap coin
> the dev convinced some shops in France to accept them already
> litecoin based so can eventually get segwit
1 FRN ~= $0.03 now, 1 FRN can easily = $1 with the developments coming. so $500 francs in a month or so that can be worth $15,000 !
>>2046893
>ripple
>technological edge
Lol @ u m8
I learned some memetic engineering so I can spot when a coin in going to grow based on it's net footprint through social media and forums. Takes a couple of googles, but it's easy enough to understand that at this phase it's all marketing and not fundamentals that drive it.
Then I make sure I get in on an uptrend, set a tight stop loss, and measure from time to time when the right time to leave a trade is due to how much memetics are involved in each coin.
Should probably algo this someday.