Crypto Investment Advice Needed

I know crypto is inherently unstable as an investment especially after the collapse of FTX. I am just wondering if I should invest this into other crypto or just cash out into good old American greenbacks. I haven't made a decision yet and probably wont for for a while yet. I am just trying to make the best decision I can with the information I have currently.

Id invest in the most decentralized blockchains. Maybe Cardano? Good luck and be careful.

Personally, I've abandoned crypto altogether like Bitcoin, Ethereum, Doge, Shiba Inu and invested in stocks that could thrive in periods of instability.

Hedging my bets against a failing dollar with silver and gold trusts. Bonds for rising interest rates.

Online services in the realm of buying and selling in case of another shutdown like Amazon, Shopify, PayPal and eBay.

Safe drinking water with the likes of Nestle, PepsiCo, Coca Cola and Consolidated Water.

Food processors like General Mills, Kellogg, Soybean, also farmlands.

The energy and tech sector with different types of oil companies, electric companies, semiconductors and renewables.

At the very end of my priorities are entertainment companies in case of another lockdown and people start to binge media and gaming again with Netflix, Warner Bros, Sony, Nintendo, Microsoft, GameStop etc.

Also small pharmaceutical companies, on the off chance they make a breakthrough drug or are bought out by Big Pharma.

There's also the art world. Artwork has a good ROI. Every now and then I'll buy a comic book, due to it's relative affordability and send it off to get it signed by the artist or writer. When big name comic creators like Todd MacFarlane, Frank Miller or Alan Moore dies, expect their signed work to skyrocket in value like Stan Lee's.

Filing crypto investments on a tax return is too much of a headache, plus I doubt that TPTB will stand for overnight millionaires for much longer, hence the incoming regulations.

The number 1 real world application for crypto is selling it for fiat currency, so unless 15-30% of businesses adopt it, I don't see the point, it's just an online casino.

South Park helps put NFT's and crypto into perspective in this clip: youtu.be...

This is all just my personal approach, I'm not a financial advisor.

What I have found though is that you can make money validating transactions on the blockchain, once people stop validating the transactions; A.K.A. Mining, there is no way to use any of those funds you have created for yourself as no one is validating the transactions.

Its almost like you have to get in hit it hard and fast, stack that paper and cash out before the bottom falls out.

a reply to: CloneFarm1000

Its all perfectly logical in my eyes. I totally can see necessary consumables as a safe bet. As far as tech companies, Micron just invested 100 Billion to create a new wafer fab facility in my state. That is not a trivial investment. I am sure they wouldn't mind some of my insignificant backing. LOL

a reply to: shaneslaughta

I diversify.

401K in stocks

A little crypto considered high risk maybe

Physical precious metals

Beans & Bullets

Who knows. I consider crypto the lotto. Throw some money in you can afford to lose and see if you can cash out a millionaire.

a reply to: shaneslaughta

Ive been in the last year and a half. Blood red like hell. Down a solid 75%. Polkadot was like $50 at ATH now trading for $5. BTC at 69k now 15k. Crazy.

I have completely shifted to BTC and ETH. To my ape brain they are as sure of bets as you will get in crypto. Yea ill still dabble in cardano, polkadot, cosmos, MATIC etc. but for not even 5% of my portfolio. It's all BTC/ETH.

I still believe it's going to reach a new ATH it's just gonna take a really long time. Have to shakeout all the retailers so the whales will get all in the long run. It might indeed crash lower. If it goes

Ive been in crypto for a while now and I have certainly learnt a few things about this nascent investment market, coins are pumped from nowhere and then collapse back down in price. You have to scale out if this happens, I got caught learning this with Dogecoin back in 2021 when I bought a small bag @ .05c. I sold everything when it hit about 30 c when I should of sold 25% initially and then another 50% when it hit around 60c. Then I should of held the last 25% for life. I managed to do a little better with GALA and scaled out and made my best profits but hung onto coins that went 10x and went back down to new bottoms so its important to Take Profits.

The next thing I learnt was the 4 year ( rough estimate ) cycles of crypto due to the Bitcoin Halving ( rewards for miners halving after a certain epoch ) so you are really governed by this fact for now, things may change once full adoption of Crypto Currencies happen but for now its just how it is. The next halving is expected around early 2024 so currently crypo is in a "Bear" market so to speak and a good opportunity to either Dollar Cost Average into your positions or find new and exciting projects at rock bottom prices.

The next thing to understand is the tech. is rapidly evolving and certain big players are backing individual Crypto like Bitcoin such as Micro Strategy and JPMorgan with Eth. But new Coins get developed and have superior technology to the previous cycle so you have to do a lot of research to find these hidden gems that can 1000X in price.

I have done some research and a few coins that you could DYOR into are Kaspa ( claims to have solved the crypto trilemma), Casper which is a Smart Contract based platform like ETH but has upgrade-able contracts, CPH or Cypherium which is the FedNow chosen platform for its Fast Payments Platform and EWT or Energy Web Token which is a ESG platform backed by Blackrock as a future platform for dealing with Carbon Credit buying.

Once you purchase a Crypto you then need to get it off the exchange and into a cold wallet of some kind so you don't end up rekt like if you had them stored with FTX or back in the day with MT Gox that got hacked and lost most of its customers keys.
Hope this helps.

a reply to: shaneslaughta
Good question.

Suppose it all comes down to how you see the future of crypto unfolding. In it's infancy, many seen it as a break away from the current financial system. Taking power back from Banks.

That may have been naive as the struggle to control crypto markets may well end up firmly in the hands of banks anyway, if it's not already.

I'm quite sure it is the future of finance but it is also the wild west of finance right now too.

Never held xmr, if it has functionality then perhaps.

Keep it in a hardware wallet, never on an exchange.

Learn to read a chart and spot trade NEVER go 50x.

Good luck.

originally posted by: shaneslaughta

I know crypto is inherently unstable as an investment especially after the collapse of FTX. I am just wondering if I should invest this into other crypto or just cash out into good old American greenbacks. I haven't made a decision yet and probably wont for for a while yet. I am just trying to make the best decision I can with the information I have currently.

Seeking financial advice on this forum is insanity, that's the first advice I'll give.

Next, don't do anything with it right now. HODL with diamond hands. Bad time to liquidate and bad time to make moves to other crypto. HODL is my advice, and also what I've been doing since BTC crashed ages ago.

Diamond hands, bro.

Thanks everyone. I appreciate hearing everyone views so far. For now I will hold on to what I have. In the future I will consider branching out into other coins as so I don't have everything in one venture.

"Diamond Hands" Indeed.

I day traded for a while in 2020 and 2021 on different markets but the markets were different back then, many coins I traded subsequently crashed (not because of me, not saying that) but it was high frequency and savage trading, risking all I gained with bots and mathematics for a couple of months. It was unnerving times because of the amounts you have to move to get out on top and multiply the sways. DODO bought me a Porsche and then some.

A friend of mine also traded dodo but only 3 digit € and not as aggressive, he didn't came far. Never expect quick money and you need some capital that you are willing to loose it all, if you # up. Don't invest if you can not bear that loss and if you have to ask here you're not knowledgeable enough about anything going on. Even when you are, you can fall hard.

Generally, don't take investment advices from the internet. Look at patterns, learn how to spot and predict them, that's how I did it and frankly, it was very sketchy. I cashed out in 2021 almost completely and currently do not touch any crypto at all.

SHIB was one of my biggest mistakes btw.

My advice is like Mykes, HODL if you have some.