Bitcoin + Altcoin Newbie

phly

phly

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Good Day

I am in need of help/insight/advice from the veterans in this space. Thanks to Luno I got some fractions of bitcoin and my heart has been going up and down with the charts but so far smooth sailing. There is talk of diversifying, not putting all your eggs in one basket. And so in the spirit of learning and taking risks I did.

My main issue was how to suss out that a coin will be profitable. But right now I have another issue as I may have spread my funds far too wide with hopes of not missing out on a great coin should it blow up down the line that I feel I don't own significant holdings in any particular coin so the profit margins are thinly spread across the several coins.

So should I let things be and have the I litecoin, 1 TenX, 0,22 Neo type of thing I have going on or
should I

A: consolidate and move what I have from some other coins into a few major coins which I can only get 1x or 2x - Coins in the range of (50USD).

B: Consolidate and move what I have from some other coins into a few SMALLER coins (Less than a dollar) but buy lots of them (100 or so) so that should they shoot up the compound amount will be better than having 1 big coin doubling as I will only have 100% of its value.

Feel free to give your honest opinion.
 
Gtx Gaming said:
I would split 50% of your btc holdings to ETH.
Click to expand...

So there is no hope in pinning on eth classic?
I do have separate BTC which I am holding majority and just "trade" with a small portion of it. Suppose I split my BTC which is not much as well into eth also, that still leaves (altcoins) all these smaller coins that may see massive uptake in the near future - although with almost all its still a gamble.

Is the general consensus just leave them as is spread across?
 
Spread between safe and risky coins. As a simple strategy I would put equal amounts in:

- Bitcoin : Safest
- Ethereum : Very safe
- Litecoin : Safe - good, well managed project - good chance of taking off
- Neo : Safe - where eth was earlier this year so could really take of
- Civic : Some risk but lots of potential growth
- Steem : Some risk but lots of growth

This way you both protect your capital and give yourself the opportunity to score big. You can adjust based on how much risk you want to take on.
 
Bitcoin: I have a majority of about 90% in that.
Ethereum: Small cents as I used what I had to fund all the coins I was collecting thanks to Jaxx and shapeshifting feature

Litecoin:Just 1 coin and herein lies the dilemna is, is it not "wiser" to rather invest in Steem ($1.30) meaning I will have 40+ Steem coins as opposed to just 1 Litecoin. Should Litecoin take off I have lost out yes but should Steem take off and say hypothetically reach $500 per coin then it will be a case of ($500x40coins=$20000) as opposed to just $500 should Litecoin reach the same mark. Or perhaps I am seeing things from a very different perspective.

Enlighten me should my perspective + maths not add up.

I do have shares in all the above though with Bitcoin and Civic being my major ones in the long run.
 
phly said:
Litecoin:Just 1 coin and herein lies the dilemna is, is it not "wiser" to rather invest in Steem ($1.30) meaning I will have 40+ Steem coins as opposed to just 1 Litecoin. Should Litecoin take off I have lost out yes but should Steem take off and say hypothetically reach $500 per coin then it will be a case of ($500x40coins=$20000) as opposed to just $500 should Litecoin reach the same mark. Or perhaps I am seeing things from a very different perspective.

Enlighten me should my perspective + maths not add up.
Click to expand...
Well I don't know much about Steem, but for a start I think it's a mistake to be comparing crypto's based on price per coin, if Litecoin was at $500 per coin it'd have a market cap of around $26 billion, Steem on the other hand would need a cap closer to $120 billion for the same per coin value. So you're comparing way different growth rates on the two.

If either were to grow by the same percentage it wouldn't matter whether you had 50 coins in one or just 1 in the other if the starting cost was the same. So basically you just wanna pick the one you think has the best growth potential. (I can't help with that, other than mostly wild guesses).


Incidentally on the topic of Litecoin, I have just one 1 litecoin that I bought years ago for ~$2.50 .. dam I wish I had bought more. :p
 
Actual price of the coin means very little. It not harder for a coin valued more to increase in value than a coin valued more. A better metric is to look at Market Cap.

Total market cap for cryptos is $154,622,011,061 so if a coin only has 0.1% of that its not so hard for that coin to go to 1% and be worth 10x more. The same is much harder for a coin that has around 20% like ethereum. Keep in mind that total market cap is constantly growing - but thats not the force that causes a coin to increase 10x in a few days.

On the other hand the coins with higher market cap are also far less likely to suddenly drop by 70% in value.

The question you should ask is what is the upside vs. risk and for that you have to look at both market cap and the tech / team behind the coin. The lower the cap for a coin the more important this is as its not yet "established".

If you don't want to bother with that just stick to the top 5 and you *should* get plenty of growth.
 
lestoran said:
Spread between safe and risky coins. As a simple strategy I would put equal amounts in:

- Bitcoin : Safest
- Ethereum : Very safe
- Litecoin : Safe - good, well managed project - good chance of taking off
- Neo : Safe - where eth was earlier this year so could really take of
- Civic : Some risk but lots of potential growth
- Steem : Some risk but lots of growth

This way you both protect your capital and give yourself the opportunity to score big. You can adjust based on how much risk you want to take on.
Click to expand...
Steem I like for pump and dump right now potential pump
 
Hmm... I guess I was looking at it all wrong. I think its all clear now. Aim for top 5, diversify into what I think has potential to growth based on the tech team behind it and I presume also the problem it solves or the viability of the problem the coin is trying to solve.

Thank you for all the input. Educated.
 
lestoran said:
Spread between safe and risky coins. As a simple strategy I would put equal amounts in:

- Bitcoin : Safest
- Ethereum : Very safe
- Litecoin : Safe - good, well managed project - good chance of taking off
- Neo : Safe - where eth was earlier this year so could really take of
- Civic : Some risk but lots of potential growth
- Steem : Some risk but lots of growth

This way you both protect your capital and give yourself the opportunity to score big. You can adjust based on how much risk you want to take on.
Click to expand...

Litecoin rose up - and to think I was gonna sell it - thanks
 
So I have just started getting into cryptocurrencies and, right now, I have equal amounts invested in Bitcoin, Etherium and Etherium Classic. I guess one could call these fairly safe investments (well as safe as crypto can be).

Just looking for opinions on what would be a fourth, more risky, option? Or do you think I should rather stick to the above three? It seems like a lot of cryptos have surged lately, so I don't want to buy in when the surge is over. Any ones I should watch out for? Is Litecoin still an option? Thanks for any advice.
 
Why Ethereum Classic, there is a lot more better options.
I would trade the Ethereum Classic away for NEO
 
Raees123 said:
Why Ethereum Classic, there is a lot more better options.
I would trade the Ethereum Classic away for NEO
Click to expand...

Well, just hedging my bets I guess. Do you think Neo has a long way to go still? I'm not sure about getting into it after it surged so much recently. Story of my life: miss the surge. :)
 
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