Originally posted on 01/03/2018:

Quote Originally Posted by ans61201 View Post
Question for the likes of shocka, MAC etc
There’s so many coins being created, and so much money being made off of pumping up 2 cent coins etc. (obviously the technology matters for success long term)
One of the things I’m worried about with these long term holds is having all of my free $ tied up in long term holds, and coins continually being added to the market and the money goes there from the whales because it’s an easier flip for them to manipulate.

Reason I think this matters is because I’d say 2/3 of the people dropping money on these in 2018 doesn’t even know what the coin does they just wanna see something cheap that can make them a “bitcoin millionaire”
In short, you guys worried about all of these new coins continually getting put out each week, or think the cream will continue to rise to the top and have further support for the ones who have actual use
This run reminds me of the internet craze a couple decades ago. People, companies, banks were dropping money on anything with a dot.com hoping to catch lightning in a bottle. Many of those dot.com companies went belly up. The real estate boom is also similar. People were buying up houses 1x, 2x, 3x asking price with no experience in real estate. A lot of people got killed when that bubble burst.

There used to be over 1,500 cryptos on coinmarketcap.com. I just checked and there's only 1378 now. I think the great majority of these coins will die a slow death as people gravitate to the most popular ones. The coins that can integrate technology into everyday use is what will win market share. The coin that Amazon adopts will immediately become a top coin. A coin that solves corporate problems will be a top coin. I have no idea what coins this will be but I think it's a great hedge to invest in the top 10 or 20 coins. At least 1 - 5% of your portfolio should be in crypto IMO. We're going to see some horror stories the next few years but there's going to be a lot of successful one's too. You just have to keep an eye on the pulse and be ready to change at the right time.