So I’m looking for a good LONG TERM crypto investment…I am going to be mining dogecoin and LTC…I plan to use prohash which allows you to be paid in a variety of crypto coins…I’m asking this community to give me advice on which crypto to be paid in for LONG TERM…I’m talking 6-7 maybe 10 year LONG…thanks in advance…maybe point me in a direction to literature that can help guide my decision…really need some good advice on what would be best ROI for Long Term …My plan was to invest in Ethereum but with the network changing that means billions of usd worth of eth that hasn’t been moved in over a year will now be fresh on the market and available to sell… Research has started to make my head spin so looking to reach in on here to get advice or ideas…thanks in advance
There can be only One.
BTC
My only thought with the big coins is how far can they move up…like BTC…say I invest in BTC starting now at a price of roughly $48,000 per coin and it goes up say 100-200% to 100K or 150K in 7 or ten years how does that compare to say just mining Dogecoin now and getting roughly 6,000 coins a year and having it be at $30+ a coin in 2030…I would own just a fraction of a bitcoin and a LOT of Dogecoin…do you follow? I hope that makes sense…please understand these are just predictions to help illustrate my thinking…I had a similar situation about a year ago…I wanted to invest in something besides stocks so I chose crypto…after much reading and research I decided to invest $1000 in Polygon’s Matic token, but at the last second I decided to go with the safer Tesla…while both did good my Tesla earnings did no compare to what I would of made with Matic…so that’s why I ask the question what is good for the LONG term…I know it’s hard to predict…I just wanna see the conversation and input from those fellow crypto investors…thanks
I get where you are coming from. I know my first comment was short, I typed stuff and deleted it to KISS . I really mean BTC.
Historically BTC lives on it’s 4 year halving cycle and it has a set supply. Tokens of any kind (especially ETH …puke…) can just be manipulated or duplicated or what ever its network decides.
“ETH2.0” will that make it bomb? will it make it great? … 2.0 what the first one didn’t have enough “pre-minted” tokens … lol
Or maybe the token is some kind of ICO or DAO , then you are basing your investment on that concept/company’s performance and time may or may not be a giant factor to that investment.
For an open ended crypto investment of 5-10 years, I can think of no other crypto that will gain or hold its value better than BTC. All other crypto is backed against BTC. BTC is the Gold of crypto, there is no next step up.
Sure some other crypto is going to 50,000% but who knows about that?
what are your thoughts on just mining Dogecoins and keeping them? I feel Doge is 80% hype right now…but sometimes hype and marketing is all you need…just look at LG phones…while LG phones had better technology and worked better than most they lost the race against Samsung/Apple…it’s said LG hired the best engineers while Samsung and Apple hired the best PR or Marketing team…
I’m mining Dogecoins because it’s cheap and I can run it from my house without too much equipment…I have 2 Goldshell mini Doge boxes that mine both Doge and Litecoin at the same time…part of me wants to just run them as long as they can run for and see what happens with the price of both coins…but I also have the option to trade the coins right away and sink the money into a more stable coin…I tend to root for the underdog (no pun intended Dogecoin)…I’m really looking for a wide variety of opinions and than I will make my decision…thanks to all!!! All opinions are appreciated…
I’m not the person to ask about Doge. To me DOGE will be what it was back in 2015. A funny meme Coin to attract people to crypto and help share and spread crypto “how to”. I understand it has taken on its own little second life. I don’t want to sound discouraging on that front.
I get mining them, it’s why you bought a Script Algorithm machine. Out of available script coins and pools, DOGE/LTC are the attractive couple. IMO Neither are long term investments. Just as DOGE has its historical place in crypto, so has LTC. LTC will not make some miracle jump. It came out in 2011, it has always comparably scaled to BTC. Now with Smart Contracts looking for any “Coin” they can wrap into their scheme, LTC’s fate is sealed IMO.
I’m not saying those 2 won’t go up, they will. But it will scale to BTC’s value.
And of course, personal opinion, everyone has their own ideas/path.
Makes sense…thanks for putting it in those terms…Doge seems kind of like a meme coin to me too…but Elon Musk bought into it…not sure if that was a pump and dump move or not…the fact that it has celebrities pimping it’s worth makes me go Hmm…Oh REALLY!!! lol
I have been mainly thinking of just converting all of it to BTC or ETH…I like Ethereum…I think it’s just because it sounds cooler…
But since you say trading is you job in your profile I’ll take your advice seriously…I much appreciate your input.
Some other things to consider here.
“Why keep it in 1 asset?”
You’re already rather deep into crypto. You mine.
I don’t like Staking , but maybe you will.
Just the general theory of Diversify. Divide your assets into parts with their own ideas/goals.
Plenty of tokens/coins will double or more before BTC does. That’s risky but has its own goals/risk. But if you are using a set amount (say 20%) and you investigate and believe you have anticipated or mitigated your risk, why not?
Or take another 20% and Pre-Invest in a new Token/ICO/DAO.
Or even use your mining rewards to buy more miners. ??? < not a bad idea.
I’ll shoot you an out of the blue Idea. https://fireants.online/
You can mine it now with your machines, if you choose. But more so, read about there complex coin/token structure. There is a lot to be learned/said about the way they try to generate value, when you compare these ideas to other Token values. I just bring this up for some interesting info about coin/token values.
thank you…I’ll look into it…also, I’m not opposed to splitting things up…I’m also checking out your website…lots of info…thanks
I recommend some research on what market cap is and how it correlates with coins. You mentioned doge at $30.00, so I think you would benefit with some info on how coin price and supply work.
I was wondering about that…I have no idea how many coins are available and if the number of coins mined goes up or down as price changes…thanks for the input…any good resources you could recommend or just search google for crypto coin market caps and coin supply/demand…again thanks
I think Bitcoin is a best for long term investing.
Check coinmarketcap.com, it will give info about supply, exchanges it’s available on, and general info about the coin. You can search for pretty much any coin there.
Thanks, I’ll check it out…