3Mon
You owe it more to bitcoin than crypto. Be aware that altcoins (definition for everything except BTC) are not comparable to bitcoin. One is digital gold with almost unlimited possibilities where I couldn't begin to list the thousands of usecases. And the other is a kind of fintech or startup, 99% of which statistically go to the wall. Furthermore, there is no regulation whatsoever. The token quantity can be doubled at any time. A new token can be used by the company and the other can be dropped, etc. Everything has already happened with very well-known tokens. It makes absolutely no sense not to do this as a UN if it is allowed. Feel free to speculate with altcoins if you enjoy it, I also have 1-2 small positions but investing and diversifying on altcoins is pure nonsense as 99% will go towards 0 in the long term.
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•3Mon
@Seiky The most blatant thing that most people don't even know in my opinion is that almost all altcoins can do absolutely nothing. It is often exactly the same token that is created in 5 minutes. Only the UN behind it has a product or an idea and instead of going public they have a token. The usecase of the token is that it is used within the company as a currency or for the service the company provides you need the token. The token itself can do nothing. Legally speaking, the UN can also sell all the tokens at some point, pocket the billions and drop the coin completely. Then simply go to the stock exchange and raise new money... It's unbelievable that this hasn't been banned yet. Probably because most people don't understand it. That's why the SEC says they are illegal securities without rules. Bitcoin is not, but they are right about the small ones.
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@Seiky Risks exist in both cryptocurrencies and equities. It is important to be aware of these risks, conduct thorough research and practice sound risk management in order to invest successfully in the long term.
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3Mon
@Seiky Amen! There is nothing to add.
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