Are you the player or are you being played?05 Jan 2018 | 1 min reading time
Lately I’ve been getting calls/emails/etc from people asking about the various altcoins.
“I heard Tron is going to pop what do you think?”
“Where can I buy EOS. You think it’s good?”
“You going to buy Oilcoin?”
To these questions I generally have the same answer: The blockchain looks like garbage, but you may still make money.
Because right now, much to my disappointment, it’s looking like the value growth of these tokens have less to do with the quality of the underlying blockchain and more to do with the perception markets trading them. Meaning the game is a bit like poker where you can win by playing the cards but also win by playing the people. Be careful trying to play people though. Market manipulation is a very real thing in crypto. Hell Binance has competitions and giveaways that are tied to trading specific tokens. So the edge or information you think you may have may be an illusion.
What it really comes down to is If you think any given token has some attribute that other people down the road will think is interesting enough to pay more for it then you paid.
Just make sure that before you buy stop and think: “Am I the player, or am I being played”.
Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
Tags: cryptocurrency and trading