Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
JayJuanGee
on 27/09/2024, 20:08:26 UTC
⭐ Merited by tiCeR (1)
[edited out]
........Now I can't recall whetheryou have said this before @JayJuanGee, but are there coins that you would not necessarily put on the shit coin list other than bitcoin?

Don't get me wrong.  Even though I mentioned that it is acceptable for someone to invest up to 10% of the size of his BTC holdings into shitcoins/trading and/or gambling, I am not endorsing any of those activities or even proclaiming that any shitcoin is worthy of investment or that it is appropriate for this topic to get into any slippery slope topic in regards to which shitcoin is less shitty than some other shitcoin.  I think that if there are projects that attempt to link or build on bitcoin as second layers and they do not have their own token, then those probably would not be shitcoins, even though some of the projects that are built on bitcoin might well end up failing.  many times, we might ask a project that has a token that if they are intending to build on bitcoin, then why do they need their own token?  what is the purpose of the token?

I thought that I already tried to acknowledge that there are likely people who cannot resist to believe that they might be missing out on some kind of possible other gains (related to shitcoins) or that there might be some interesting "innovations" happening in regards to various shitcoins, so even though I am not recommending that anyone gets distracted in that direction, I am trying to suggest to attempt to limit their distraction to less than 10 % of their bitcoin investment. Surely the longer that someone is in bitcoin, understanding it and also understanding other projects, then of course, they will be free to come to their own determinations in regards to the extent to which they might conclude that there might be some value to invest time, energy and value into some shitcoin that they determine to have redemptive values.

Frequently, I think that it is preferable that we try to stick with various basic starting out principles in regards to the audience of this thread or any other forum thread, unless the thread happens to be some kind of a speciality thread.  So, there are so many forum members (and even people in the world) who happen to be no coiners or low coiners, and they are still in their earliest of stages of building their bitcoin investment portfolio, so I think that we should be attempting to address those kinds of audiences in these kind of general bitcoin threads or bitcoin investment threads.

I do hold some shitcoins, and they are around less than 0.5% (that is less than a whole percent) of my total BTC investment portfolio, and I don't hardly fuck around with any of them at all or even recommend any of them, since I likely just hold them for various reasons that might just relate to having some other transaction options, even though there are rarely opportunities to transact in any of them.. and sometimes if there is some trouble with one or another of them, then I am forced with trying to figure out what to do about the matter.. which probably takes more time than I would like to spend in relation to the matter.

So, yeah, it seems to me that if we are inclined to want to discuss any shitcoins or which ones we might be considered to be less shitty, then probably we should discuss in other forum threads, and it is pretty rare that you find me in any of the forum threads that are at least not somewhat related to bitcoin.

I do not invest in any other coins, but I have had occasions in the past where using one of those coins as an intermediary did make sense or was necessary. For instance, paying for a VPN service or something like this can sometimes be cheaper/easier if you use a shit coin.

I agree that there could be some practicality, which also might make it better to hold a bit of the shitcoin, even though there might not be any intention to store value in such shitcoin or to attempt to promote it... though if there might be a bit of an infrastructure around it or utility, then there could be some reason to hold some of it to the extent that you might not be able to just buy some of it for the purpose of doing the transaction.. but then sometimes there could be reasons to have had gotten it in advance.. and yet the times change too in terms of who might be transacting in what, and then questions of where to store them, whether on an exchange or in a private wallet, and some of the wallets that store shitcoins might increase attack vectors when they are starting to use shitcoins.. so I don't really claim to have any answers, yet I could imagine getting into situations in which transacting in one or another shitcoin might be more practical than transacting in bitcoin.

Several years ago I still enjoyed researching other coins, but I stopped doing that almost entirely at some point as the chance of finding some good tech sadly was/is close to zero. At the end of the day all those developers try to set up an architecture that funnels money straight into their pockets.

I agree with you that even seemingly good projects might end up having some of those kinds of various questionable designs or even questions in regards to premining and how staking works, and other kinds of obscurities that might question even something simple as the total supply of the coin... not that BTC is completely free from such issues when we have various second layers and businesses built on bitcoin that sometimes are dealing with fake coins and/or not allowing for the audit of their supply.. .which can cause questions in regards to their not having the coins they claim to have....so yeah the obscurity of the supply tends to be even worse with almost all shitcoins.