Curious as to why you'd recommend folks new to crypto to invest in an ICO rather than a base asset. It seems like it could be a great way for a new person to get burned and lose faith in the entire space.
Glg_trader
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@forkknife777, Well at this point, most everything is speculative. Projects or ICOs with any value (i.e. not overvalued) are COMPLETELY speculative (but that also gives them relatively great value). Whether you invest in the ICO or when it goes to market is a relatively small gain/loss compared to what that ICO/project could do in 5-10 years time. Hence- you should research the ICO and see its applicability, value, market, and dev. team. If you have faith in the ICO/project (through due diligence), you won't worry that it tanks when it hits the market because you BELIEVE that in 5 years, it will be worth WAY more....
forkknife777
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@Glg_trader, Fair enough. I tend to think that the majority of the "companies" behind the ICOs won't even be around in 5-10 years. Some likely will be, and flourishing, but it seems like there's a new sketchy ICO every day now. I'd personally feel better in a 5-10 year time horizon with 2-3 base crypto assets and 2-3 newer tokens.
Glg_trader
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@forkknife777, Totally agree about the ICOs. My strategy is to identify the best companies behind each applications (as of right now) and invest in them. Then continue watching the landscape and see which companies you've invested in do well vs. which companies will do better, and transfer your investments accordingly.
forkknife777
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@Glg_trader, I'm out of most of the tokens right now. Of the ERC20 tokens that I've examined, I think BAT, REP, and GNT have great chances at success. BAT specifically has leaders with proven track records on projects of similar size/scope. My biggest concern is the huge amount of capital recent ICOs (Bancor and Status) have gathered in such a short period of time. How many of the ICO participants even read the white paper or knew exactly what it was that they were buying? I'm not saying that either project is a scam, as they have more of a working product than many others do at the moment, but it's insane how people are willing to just hand their ETH over to anything labeled an "ICO," very similar to the ".com" craze of the late 90's. My plan is to hold mostly ETH, BTC, LTC, and XMR with some BAT, REP, and GNT thrown in there. It'll be really interesting to see what happens with the sentiment of the token arena when another DAO like event inevitably happens - be that a hack, embezzlement, or whatever.
Out of curiosity, what newer ICOs have your attention these days?
Glg_trader
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@forkknife777, Your head is in the right place. Personally, a lot of these coins have my attention. Still trying to figure out which ones will make it. LTC, BTC, ETH are the major players, but STRAT, ANS, GNT, EOS, Civic, Polybius, XRP, STEEM, UNIKN, SIA... could all be huge. Of course, half of these could be crap, eventually replaced by new ideas... it's just hard to tell right now. I like to invest a little in them all, and watch. As a fortune once told me...
"it is better to be approximately right than exactly wrong." :)