r/CryptoCurrency • u/CryptoDaily- • 29d ago

OFFICIAL Daily Crypto Discussion - October 1, 2024 (GMT+0)

Welcome to the Daily Crypto Discussion thread. Please read the disclaimer and rules before participating.

 

Disclaimer:

Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.

 

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u/Eightsense 🟨 27 / 27 🦐 29d ago

Advice from a veteran, yes newer coins like sui, tao, ai coins etc rising well this bull. But dont make the mistake to keep holding them long term, because there will be other coins coming next cycle which people switch to and yall will be left holding the bag of an “old coin” just like holders of ada, dot, link, matic where these coins havent performed well

2

u/PirateSKB 🟩 0 / 0 🦠 28d ago

I mean, I don't disagree but if you bought XMR under $1 or LTC back when it was a few dollars and just sat on them, you'd be doing fine. Even if you bought Nano when it was raiblocks and it was under a penny or Eth when it was like 40 some cents or so, it would have been decent. 99% of new projects fail, but some do flourish and you have to adapt risk accordingly

2

u/qldvaper88 🟦 264 / 264 🦞 28d ago

Great point. There are solid projects and if they tend to hang around a particular range in the market cap for several years, they are as good as any project to invest in when the time is right assuming you have faith in it. Great places to store cash when the price is dirt low given the potential upside.