Re: BitBay |Decentralized Marketplace|Smart Contracts|IoT Tech|Markets Open
So investing a few hundred or perhaps thousands of dollars into a venture which has a decent potential of becoming a similar valuation in a year or so is a pretty amazing opportunity.
I agree with most of this post but regarding that last statement, when have you ever seen an altcoin that's worth more a year after launch than in the first 2 months of launch ? Anything that's ever shown any promise in this market gets its valuation priced in very quickly - within a month or two if not immediately.
After that it's all downhill.
You're lucky if the price is a quarter of it's speculative early priced-in valuation in a year's time so I wouldn't lead people on with that nonsense. Even Bitshares and Counterparty which are currently enjoying top 5 marketcaps after a year have never traded above their early post-launch prices. Peercoin had massive promise that was priced in out of the gate. The first POS coin. It's currently a quarter of it's highest trading values. Counterparty got near its February price a few weeks ago with its mega "Etherium+Bitcoin all you what in 1 package" announcement and even that didn't push above its post-pump price record.
Lets get real for once. These are experimental markets. Developers try out new things then move onto other stuff. They are at the mercy of commercial dynamics over which they have no control. If a new project hasn't established itself in a couple of months of launch - forget it. There's too much other stuff going on.
Better question is..How many altcoins are one year old?
Only few.
If a new project isn't established in few months move on? lol. Do you know how long it took BTC to get to the point where it is now?
Issue is that people are impatient and anyone who is impatient will never get big profit out of anything. Truth is 3+ years is minimum amount you'll have to wait before you see big profit with any altcoin that has value and it doesn't go for just altcoins..it goes for every investment you choose to spend your money on.
Winner wasn't the guy who bought BTC in last december after the spike, it's not the guy who bought facebook share after it became popular, it wasn't the guy who invested in google after it became global search engine.
Biggest winner was the guy who saw potential in those when everyone else chose to close their eyes and called them BS. He was loyal to them and his investment and fought every critique that came across his path. If he had just sold his investment after few months he would still be working in McDonald.
1.) You have to pick the right investment. Not the one everyone else believe in but the one you believe in.
2.) You have to forget about it for few years.
3.) You cash out after 3-5 years
4.) You drive Lamborghini while everyone else have regret.
You might say that Bitbay will never pass Ebay but first ask yourself didn't facebook get ahead of myspace? Didn't android pass every single phone OS that is out there regardless of how old they were? Didn't Netflix get ahead of blockbuster?
Yes, they did. It didn't matter how big myspace or apple was. It was just a matter of time till everyone saw their potential.
Your another arguement is that crypto is still in experimental state and you're right but would this be same in 3 years from now?
I would rather take a risk than kicking myself after few years when Bay reaches $20 and I have NONE!
