How are you all celebrating the April Halvest Fest...
# present-company
d
How are you all celebrating the April Halvest Festival? I'm gonna get into Bitcoin finally. I know; a bit late. Given my terrible ability to predict investments, I'd say now is the perfect time to sell. You heard it here first.
a
Why not a more environmentally friendly alternative?
d
Aha! Well I haven't bought yet. Yeah, I do have issues with that
🌳 1
a
I'm not an expert but think e.g. Ethereum is proof of stake now.
c
I've done well recently on Solana; which is the next biggest coin. My reasoning was simple: • Bitcoin has crashed several times. It always recovers better than it was before. • Other coins follow the whims of Bitcoin, but with much bigger swings. • Buy something relatively stable/mature, and enjoy a bigger multiplier 'on the way back up'. So I bought SOL at the 'bottom', and some ADA, and I'm going to cash in at some point soon, and wait for another crash.... The halving is happening this month, and history says that the price will likely climb beyond it, but I'm not relying on it. The danger of this strategy is that SOL might suffer some fundamental failure; and perhaps Bitcoin is more stable; hard to tell on that one. A good compromise would be to buy a more diverse spread of top performing coins at the bottom; ADA, BNB, XRP, AVAX, etc.... The advantage, as @Alex McLean says is that SOL is proof of stake, like Ethereum. The biggest negative against SOL is that it is seen to be less centralized, because becoming a miner requires a bigger pot and lots of fast hardware. They all have their issues though. ADA's tech isn't scaling very well currently, BNB is tied to Binance which might get regulated, etc. XRP is more 'corporate', etc. The nice part of this strategy is that (compared to my previous efforts), it is relatively stress-free. Buy at the bottom, wait 3-4 years, sell, repeat. April is going to be an interesting month regardless....
šŸ“ˆ 1
FWIW, I built a tool a while back to try to infer some patterns. Mostly for fun. I was looking at twitter sentiment and scanning all the real time future pricing. Much higher stress, but interesting....
😮 1