Financial retard here

Financial retard here.

Would it be a decent idea to just buy, say, $50-$100 worth of every different coin and just sit on them? Worst case scenario I'm only out a few hundred bucks, best case scenario I earn thousands? (millions?)

yes sir, buy espers on yobit, you will earn millions

it only works if a lot of new money is entering crypto, which you missed at the start of this year. If you did it in august to now, you'll be down so much you'll want to kill yourself

congrats this is the worst post i've ever seen on this board.

you're buying $50-100 of "every coin," 95% of which are going to 0, and "worst case scenario" you're out a few hundred bucks???????????

not trying to be mean, but seriously you have no idea what you're talking about whatsoever

What about just buying a few hundred bucks worth of the more promising looking coins? I didn't really mean every coin.

ok hedging is fine. 50 dollars on btc, eth, ltc, maybe xrp, is an ok entry level move to get your feet wet. much smarter would be just waiting for btc to dip (or crash) and going balls deep in btc at the nadir or early in the recovery.

You mean like...diversifying?

Thats what he started out his post with saying that he was a financial retard.

Do you have trouble reading anything other than numbers user?

You would have to invent like $1k in each coin to get any significant return as most coins are scams/never going to be used. Even then, the likelyhood is pretty bad.

Coin like Komodo and bitbean seem like good altcoins

he said he was buying 50-100 of every coin and worst case scenario was set to lose a few hundred dollars

reading comprehension is

concentrate on 3-4 coins that are promising and invest in them and hold

It's a stupid idea and a lot of noobs seem to do that, based on some blockfolio screenshots I've seen.
You DON'T diversify and buy a shitload of different coins when you have scrub lunch money. You invest it in one or two promising coins.

If 95% of coins will go to zero, it would be insane to invest in them individually too. The odds would be horrible. Much like stock picking but even worse. Bitcoin seems to outperform altcoin index by large margin

>as most coins are scams/never going to be used
That's the point though. Most will die, but all it takes is just 1 to explode and it would easily cover the losses from the others.
Take bitcoin for instance. When bitcoin was dirt cheap say around 1btc for $1 and I bought 50 of them, I'd have earned fucking $300,000 by now.

To me that seems like the safe game to play. Eventually one of these coins is going to win, all I need is a tiny sum on the winner. I'm not trying to get rich I just fucking hate being a wageslave. With 300k+ I could probably stop working and just live a simple life in a 1 bedroom apartment or something. That's all I want. Working makes me want to kill myself.

>Working makes me want to kill myself.

well thats the wrong attitude. accomplishment and succeeding in life is part of the pyramid of happiness.

Not for me. I just want to take it easy. Couldn't give two shits about "accomplishments".

>Not for me. I just want to take it easy. Couldn't give two shits about "accomplishments".

enjoy mediocrity and your completion/success anxiety.

...

graph suggests only one coin remains?

They're almost all going to zero eventually. Look at some of the trash that gets hyped. Tokens for use in Second Life . . . the blockchain for dentists . . . Russian trivia apps . . . fifty different redundant gambling platforms . . . Eethereum 2, 3, and 4. We're way past pets.com territory. These things are Beanie Babies.

That said, fast gains are possible in a bull market on some of these turds before they swan dive into oblivion. It was a bull market a week ago, but it seems like that may be over, at least for now.

The huge altcoin gains come from a handful of coins, and expect you to buy at lowest and sell at top before a quick crash. A very hard thing to do I suppose. Also if you just randomly pick altcoins you have simply bad odds. Maybe for some insiders this is a good deal

dude just buy bitcoin

put in like 100 bucks every month. shit might crash hard, it might not, but when it crashes, buy more because it's the only coin that's gonna last long term if you're only thinking of hodling.