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drewprops
Space Pirate
 
Join Date: May 2004
Location: Atlanta
 
2021-04-29, 17:01

With Crypto being a part of the regular conversation on financial broadcasts now, Bitcoin and Dogecoin are solidly now on peoples radar and more are beginning to buy in now that's it seems to have been more than a flash in the pan.

I'm not quite sold yet, but maybe I should be.

In some ways I have been pushed away by a hipster burner friend who is fanatical about cryptocurrency, to the point where he dismisses the traditional market as "trash" every chance he gets – it's difficult to buy into a decentralized system based on computer cycles, when can own shares of an actual company producing actual profits, in an established market, with real world assets at stake.

It seems as if he's more in love with the process and the potential that they've created than the crypto funds' actual performance. Couldn't existing banks create their own blockchains for their own products, rendering these early pioneer companies quaint relics?

If so, what's the point of getting in for the long haul?

Still, I don't want to miss out on an opportunity, so: to the Cryptographically L33T out there, does my friend's advice about crypto infrastructure firms (below) sound rational?

For the record: no, I do NOT have a key to all of the acronyms he has used.


Quote:
There’s quite a few projects that add utility to the markets and will eventually extend finance opportunities to the unbanked and underbanked in an emerging decentralized ecosystem. I have a little bit of everything offered by Coinbase. But I’m more heavily invested in a few for different reasons. BTC for store of value. LTC, ZCASH, CLEO, XLM AND DASH for payment transport and remittance. ETH, ADA and EOS for on-chain smartcontracts. UNI and SUSHI for decentralized trading. FIL and STORJ for decentralized file storage. DAI, XTZ, ALGO and ATOM for APY yield. Cosmos(ATOM) and Chainlink(LINK) are also worth mentioning for cross-chain interoperability. ETH and OGN for fueling NFTs.

At the moment I think I’m most bullish on Cardano(ADA) because of the low marketcap, ambitious roadmap, development dedication, impressive list of partnerships, innovative vision, and an eventual migration path away from ETH since gas fees are expensive.

This is not investment advice. I recommend that you do a lot of your own research before jumping in. There are a LOT of players on the field. Some will survive the test of time and others will not.



...

Steve Jobs ate my cat's watermelon.
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