The greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by irrational beliefs and expectations of market participants.[1] A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.[2][3][4] In other words, one may pay a price that seems "foolishly" high because one may rationally have the expectation that the item can be resold to a "greater fool" later.
In the stock market, the greater fool theory applies when many investors make a questionable investment, with the assumption that they will be able to sell it later to "a greater fool". In other words, they buy something not because they believe that it is worth the price, but rather because they believe that they will be able to sell it to someone else at an even higher price.[8] It is also called survivor investing. It is similar in concept to the Keynesian beauty contest principle of stock investing.
Shitcoins will be worthless on a long enough timescale. BTC, ETH, LTC, XRP, NEM, and maybe DGB will be worth something for actually offering something to the buyer. Everything else is just selling to someone in the hope of them selling it higher.
Juan Cruz
Its about toronto condo market lel
Kayden Martin
You not understand that we wear the mask of the fool to adopt assimilation into the crowd?
The point of greater fool theory isnt to prove destruction, its to allow you to use it against others.
>buy worthless shit cheap and wait >later pretend to be a fool among fools who has stumbled over something "amazing" and cant help but screech "muh gains" >other non-fools will join in early with you to build hype and excitement >fools believe your foolery because you have now created belief in something then: >quietly sell off and withdraw just as other non-fools do leaving real fools holding bags of shit that are pointless and a waste. see fidget spinners, juice bag squeezing machine backed for $120M, Enron (though they werent fast enough), etc.
or: >build a continual system around thing set around a belief that is only disproved by something that doesnt exist, is circular or is partially true. see organised religion, banks, diamonds, traditions, etc.
Luke Phillips
it's just meme magic
Joseph Ward
Basically what this guy is saying, in all honestly if a coin doesn't have proof on their site of actual financial venture capital backing, or novel use of technology with a credible peer reviewed white paper w/ industry expert devs, it is just a scam playing up the fact that the trading of these are so completely unregulated.
The unregulated nature of it just lends itself to easier scam-ability. These are the same tricks/tactics that went on throughout the 80s and early 90s that were then banned, just brought back from the dead by this unregulated market where the SEC has no power to stop predatory actions.
Nolan Flores
I can see the value on all other but DGB, what does this coin have to make her special ?
Sebastian Lopez
if you look at threads from a year ago, you see the same thing in those the pattern is usually.
>There are only a few legit coins that you should actually be holding user >(lists the 6 coins that actually have real uses/dev teams/venture capital backing.) >and (tacks on the current shill coin of the week in a lie to pretend that it actually has a use)
This is an old game, people have been doing this for years, DGB is a trash coin, its uses are trash.
Jaxson Foster
Im tired of that manipulation on Veeky Forums, buy shitcoin, buy digishicoin, buy moonsh**coin.
You seem to be a smart guy, what are your holdings ? Im thinking to go 30%XRP 50%NEM 20% for very long hold (more than 7 years)
Jeremiah Morris
what about some of the other novel cryptos with intelligent use cases? Monero, Dash, WAVES, and ETC come to mind.
Plus, there are shitloads of ICOs being offered based on ETH/ETC architecture that offer dividends, etc.; there are plenty of viable projects that are well-supported and have potential.
Not all shitcoins are created equal.
Brody Price
I like ETC, NEM, and Monero/Dash for long-term holds.
I think ETH has potential as well, but I see ETC playing a game of catch-up in viability; it's ETH's little brother, and has many of the same benefits, but was orphaned by the original devs because they chose to bail out theDAO investors (google it); projects on the ETC chain, in general, are more geared toward "realistic" use cases in the near-term, whereas a lot of projects built on ETH are designed to "disrupt"; most of them won't, whereas there are endless uses for a functional coin that circumvents tax structures for many day-to-day services and entertainment purposes (gambling, purchase of illicit goods, etc.), and ETC is primed to capture that market, due to 1) its birth out of theDAO hack, and 2) its viability as a currency, in spite of (or perhaps almost because of) its orphan status.
Anyway, I'm long on LTC (20%), ETH (20%), ETC (10%), DICE (30%), VSL (10%), and TKN (10%); I will likely be grabbing up some WAVES in the dips to come, so that should give you an idea of where my biases stand.
James Cook
Well the PND manipulation is very estimable so if you know anything about volume you should ride them desu. If you watch closely for coins that fit a pattern of slow spaced out buildup that fits the volume model of a whale trying to buy a lot of a coin without making the price go up you can literally watch the coin volumes for which coins a whale is probably going to try to PND before the pump starts.
You can also estimate how much a whale has bought in roughly by these buy/sell patterns. Whales seem to wait until the idiots on here at least match their original buy in before they start the dump off. So you can get out with a cool profit almost every time if you do your estimates correctly. Even if you screw up whales tend to cycle the scam through alt coins anyway if you just hold it will come back around and a PND will happen again on you bagheld coin as long as it wasn't supremely stupid like milocoin/beavercoin-tier stupidity.
I personally usually ride pumps, it is pretty simple.
Colton Johnson
Lol, name a "realistic" project on the ETC chain. Literally hundreds of companies coming out on ETH, breaking news, and you say ETC will win. lmfao
Nicholas Peterson
Also all this assumes that whales are acting rationally in the market, just a caveat. But if they were acting irrationally and not doing what I said they would lose money. So we can assume that they are acting rationally.
I would say that security/anonymity based coins are probably going to have much more viability long term than most others.
Tipping/we-made-a-coin-for-this-one-industry coins are probably going to be worthless forever. Unless an actual branded company makes a blockchain currency for themselves, like farmville/facebook tokens or something I wouldn't buy into any industry thing, even if they have a contract or pretend like they are going to have a contract.
>if I am a company and want a coin for my thing, why wouldn't I start my own coin where I can control the blocksizes/etc/etc/etc/ myself to exactly what fits best for me? Why wouldn't I premine as much as I want to better control the price however I wanted? Or keep in complete control of the circulation supply? Why would I ever buy into someone elses coin ever?
If you see one doing this, that is a supremely stupid company imo. Most of the coins that fit this pattern are dumb for this reason. Also it is all open source. There is literally no reason why facebook would adopt your coin when they can just use the open source design that is up on github to make a copycat coin?
To be clear, I like ETH, and have been riding that wave since $10/coin; I'm not saying ETC will "win", per se. I'm saying it will have more potential for exponential growth than ETH in the next 12-18 months.
ETC has several gambling platforms and online services going live in the next 6 months, and has the benefit of being the immutable blockchain ETH chose not to be, which is advantageous for the coin in immediate use cases associated with the most common/popular existing uses for crypto (cheap p2p payment, gambling, and spending on grey/black market goods).
In addition, ETC seems more committed to sticking to POW, whereas ETH wants to move to POS; POW ensure more adoption for the asian markets as they prefer to leverage existing equipment in any new investments, and there's already been a significant amount of investment into POW mining for ETH in the Chinese market.
Caleb Phillips
If you see a company buying into/contracting with someones shillcoin they are supremely stupid** just to clarify what I meant.
The thing about all of these coins is that besides Bitcoin, they are all basically alphas. Completely. We are in 1996, and we are trying to chose whether to invest in AOL or some BBS board on the internet or maybe askJeeves hmmm so many choices? And those are our BTC and Waves. (or fill in whichever coin you think will have long term value)
Nothing we are investing in right now will be what people are using in 10 years from now. Everything will be much more slick/user friendly. Every coin that we think is innovative right now is open source, meaning that while you might look at Myspace(ETH) as the end game of crypto with its platform where anyone can build an app on the crypto!!! wow with myspace its like everyone can have their own website!!!
And you never see facebook coming around the corner, doing nearly the exact same thing, blindsiding you.
Or look at Flickr with yahoo, objectively a better platform in every way than Instagram, but look who won because of adoption?
The best bet is to not get deluded and always realize that with these coins there is always a facebook waiting off in the future to blindside your myspace coin.
Does that make any sense at all?
Noah Johnson
Interesting. Thanks for the info.
Christopher Peterson
Very nice, what attracts you on waves ? Since im going long term im afraid to some coins dying. I will study dice, vsl and tkn
Xavier Young
...
Jackson Gomez
Yep, although I will say that Eth is gaining a lot of mainstream adoption.
We're still pretty far from prepaid cards loaded with ETH and your mom buying groceries with crypto, but it'll happen by 2020 in some markets (mainly emerging markets in third world countries), and I honestly think ETH could be the Facebook to BTC's MySpace (we're already seeing how the ETH devs have a long-term vision and have achieved some level of Corporate buy-in; BTC has no such buy-in, and will never have it due to its limited use cases and lack of focus on development/end-user adoption)
James Foster
I like WAVES because it purports to offer many of the same advantages of Iconomi, but the dev team has accomplished more in recent months.
I like the concept of decentralized crypto exchanges, and right now WAVES appears to have the most viable product in that space.
Speculation is HUGE in crypto; the first platform that nails down decentralized speculation stands to benefit a lot.
Xavier Martin
That's why I said maybe. It's a fucking meme coin but it seems like it's become self-sufficient (at least for now). Usually the P&D coins get traction then die, but DGB (and RDD) refuse to go away in the short term. I don't hold any DGB either, for what it's worth. I put 2$ into RDD at 20 sats.
Kevin Flores
FYI, these are all me. I'm on a dynamic VPN which appears to fuck with the post IDs.
Nicholas Thompson
>this subtle DGB shilling not bad user, but DGB is a shitcoin
Christian Adams
My point was that in 1996 when AOL was putting everyone in the internet, it looked like AOL was endgame, when in reality it was a mere stepping stone that simply looked huge at the time.
ETH could be AOL, huge adoption, lots of backing, looks like it could be the endgame but in reality it could get left in the dust come 5 years.
Carson Bennett
REEEEEEEEEEE EVERYONE'S YELLING AT ME PLS STOP even tho you can just lie with blockfolio
Dominic Turner
I miss tramp stamps, why did people have to start calling them that and fuck up that sexy tattoo fad. I don't even like tattoos...
