What to consider before investing

dibon

Member
I am sure that most people (like me) have heard about cryptocurrency but still get confused by what this actually involves. However, the more you read about this, the more informed you get. It is more or less like an IPO, only that in the former's case, the companies involved often don't undergo serious credibility checks.

Since there are many of these companies operating out there, what do you suppose should be critically looked at before investing? For instance, should the lack of an SSL certificate in a website raise eyebrows?
 

Foroux

Member
I am sure that most people (like me) have heard about cryptocurrency but still get confused by what this actually involves. However, the more you read about this, the more informed you get. It is more or less like an IPO, only that in the former's case, the companies involved often don't undergo serious credibility checks.
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It's not like an IPO in my opinion - as you mentioned IPOs are regulated and the company undergoes extensive review beforehand.Most importantly, the "thing" already exists. ICOs are more like gambling or funding a Kickstarter campaign in my opinion. The "thing" usually isn't fully formed and might not ever come to be.

If you're asking about established cyptocurrencies like Litecoin and Bitcoin, then I'd say they're more like a commodity. A volatile commodity.
 

Parth

Member
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ICOs are more like gambling
All investments are like gambling because you can lose the money you initially put in and there's no guarantee of a payoff. They just come in varying degrees of risks and rewards. These investments are also equally open to manipulation and crime as cryptocurrency. Whether it's bribery, creative accounting practices, collusion, employee/owner theft, insider trading, money laundering, hacking, Ponzi/pyramid schemes, cronyism, offshore banking, shell company fraud, religious/charitable abuse, game fixing, or short selling if it happens with crypto it's already happened within the world economy. I also don't think that ICOs are any more like gambling than trading on pink sheets. Plus, if Herbalife isn't a pyramid scheme I don't know what is, yet its stock is still strong and the company is still able to keep the once respectable Madeleine Albright in its back pocket.
 

Parth

Member
Should the lack of an SSL certificate in a website raise eyebrows?
Has this actually happened in the wild or is it just meant as a "for example"? Digital currency is in the highly technical and mathematical realm which is inhabited by people that I expect to be savvy about https/SSL use, so yes, that would raise eyebrows.

There's probably a white paper out there undermining my whole argument.
 

Abhijit

Member
All investments are like gambling because you can lose the money you initially put in and there's no guarantee of a payoff. They just come in varying degrees of risks and rewards. These investments are also equally open to manipulation and crime as cryptocurrency. Whether it's bribery, creative accounting practices, collusion, employee/owner theft, insider trading, money laundering, hacking, Ponzi/pyramid schemes, cronyism, offshore banking, shell company fraud, religious/charitable abuse, game fixing, or short selling if it happens with crypto it's already happened within the world economy. I also don't think that ICOs are any more like gambling than trading on pink sheets. Plus, if Herbalife isn't a pyramid scheme I don't know what is, yet its stock is still strong and the company is still able to keep the once respectable Madeleine Albright in its back pocket.
I agree with Parth. All investments are a bit like gambling. You really have to do your homework in order to make the most effective decisions. Cryptos are very volatile and very risky if you ask me. I could never invest in something this unknown. I need to see the results from an investment over time just to see the trends.
 

ritchie

Active Member
Has this actually happened in the wild or is it just meant as a "for example"?
There's probably a white paper out there undermining my whole argument.
I think that for the more established companies like Bitcoin, issues to do with website security are taken seriously. There could be a few companies out there looking to rip people off and so they could hurriedly put together a website that's not secure. Just a thought!
 

Anayaa

Member
I am very curious about cryptocurrencies. As one member said above, it is like gambling but isn't all stock/investments like gambling? Are there certain details to this that one needs to know about a given crypto? I would think that you should watch the volatility so that you can monitor outcomes.
 

Swisslist

Member
I am very curious about cryptocurrencies. As one member said above, it is like gambling but isn't all stock/investments like gambling?
Yes, but the stock market has been around for a very long time. Long enough to where the "gamble" is more like a well educated guess at this point.

The biggest difference between the 2 is this: Stocks move according to the general public, their buying habits, and speculations.

Cryptos move according to the few people who have bought into it the habits of the buying and selling of the currencies themselves.
 

tulip

Active Member
I don't know if this is possible but I wish there was a simpler way of this information being passed across. Most of the people I have spoken to either have a hard time explaining or do so in the most complex way. Does it get easier once someone has gotten started?
 
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