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Hey /biz/, poorfag here. I need some advice.
Like many people here I was around on /g/ back when bitcoins were worthless, before this board was formed. I missed the boat then, even though I had a good feeling about the future of cryptocurrencies. In retrospect I don't know why I didn't buy some at the time - I suppose it was just due to a lack of disposable income. Imagine my horror when it soared to that first $1000 peak! And that horror has only increased year on year as the price continues to rise.
I also remember reading about Ethereum before it came to market. The concept of smart contracts was an interesting one, and I thought it had a good chance of being "the next bitcoin", especially since there was talk of some big names backing it. Some time passed and I forgot about it for the most part, but I do remember specifically considering buying in at around $8. I never did. I only discovered today that it has climbed to over $200 each. The regret is killing me.
Which brings me to why I am making this post. I'm from a poor background, and I've been poor all my life. I've missed two opportunities to raise me and my family out of this hell, and I'll be damned if I let it happen again. I'm going to scrape a small amount of money together and put it into coin(s) for a long-term hold. I've done a bit of research and here's what I'm considering:
cont. 1/2
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Ripple XRP. This seems to have found a niche. It got there first, and it does it well. It's managed to get the backing of a lot of existing financial institutions. I think it's a fairly safe bet long-term, but I have doubts that it will increase by any significant amount. There are a LOT of XRP in circulation, and from what I can gather, they are only really used to pay transaction fees, as opposed to being a standalone currency.
Monero XMR. I'm late to this one, but because it's seeing adoption by the DNMs, I think it has a real shot of replacing bitcoin and thus climbing to similar heights. My concern is, of course, that due to the current high price, I will not be able to buy enough to make a life-changing amount of money.
Stratis STRAT. This is by far my least certain potential investment. From what I have read, it's just a technically improved version of Ethereum. Buying into this would essentially be betting that Ethereum doesn't work out long term, because "the most dangerous enemy of a better solution is an existing codebase that is just good enough". VHS vs Betamax, et cetera.
And lastly: I haven't been to /biz/ in years, but I see people talking about coins I've never heard of before, like "Digibyte". There seems to be a lot of hype around this and other coins, much like there used to be around bitcoin in the beginning. I'm tempted to just put my faith in the anonymous collective and buy in to whatever has the most traction here. If only I'd done that from the start!
Those are my options. If you're still here, thank you for reading the inane drivel of a poorfag like me. I'd really appreciate some feedback and/or suggestions.
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>>2251164
70% ETH (20% of those into tokens)
20% BTC
10% Monero
Done
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>>2251157
buy wave$ bro that's all i gotta say
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Since you haven't been around for a long time:
BEWARE of the shills and FUDers. There are lots of them.
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>>2251164
Solid explanation with solid idea instead of brainless shilling, gj anon
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>>2252026
Watch this video and listen to what the guy says at the end.
https://www.bloomberg.com/news/videos/2017-05-31/looking-for-a-bubble-in-bitcoin-s-recent-bounce-video
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Don't know shit about crypto so I'm sorry I can't help you there m8. If you want to supplement your plan with some more conventional investments, I'd recommend index funds, from vanguard specifically if you can buy them in your country. Buy and hold forever, you're gonna make it.
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>>2251164
>just put my faith in the anonymous collective and buy in to whatever has the most traction here
I can't tell if this is bait or not, but I'll bite
Just put it all on ETH when it dips to 0.075 ETH:BTC. It has the most potential for short-term (1-2y) 2-3x gain. After, invest in the shitcoins you want to.
No, it's not too late for it. You need to know when to get out though.
You have a cursory understanding of the tech, but not enough knawledge to understand what is/isn't a dead-end. The only thing you're going to do is burn yourself when shitcoins get pumped & dumped without you putting up a sell. There are too many greedy eyes in this market and you're going into it with naivety.
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