What are the best Cryptocurrencies to invest into in 2017?

Discussion in 'Computers & The Internet' started by MasterA, May 17, 2017.

  1. MasterA

    MasterA Administrator Retired Admin

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    What are the best Cryptocurrencies to invest into in 2017?

    I have mainly been looking into Bitcoin, Ethereum and Litecoins. I know there are many more Cryptocurrencies available but these three seems to be some of the more popular ones, especially Bitcoin of course. As some of you may know the price of Bitcoins has increased a lot recently to $1700-$1800 per Bitcoin and I heard that people predict that price could potentially rise more so Bitcoin is something that you should invest into. However, its too expensive so its probably not a good option and because of the high price, the risk is way to high. Unless the price drops to $100-$300, I don't think its a good investment but we all know that this is extremely unlikely to happen.

    Ethereum seems like another good option and recently, its price hit $100 per coin This also seems like a decent investment but the price seems too high to invest at the moment and I am kind of concerned that there doesn't seem to be a limit on the supply of coins (at least not known to the public) which means that eventually, inflation will brings its value down. At the price of around $90, I don't think it is worth the investment. I am willing to invest into it if the price is at $10-$20 but again, this isn't likely to happy anytime soon.

    Now onto Litecoin. This coin is one of the oldest Cryptocurrencies and has been released for many years but the price hasn't ever gone above $50-$60 and the price is around $20-$30 at the moment which again seems to be quite high. I think this is worth investing at around $10 but it seems like a lot of people don't seem to think this is a very good investment as its performance has never been that good. Even with the recently Segwit update, the price has only increase slightly and this coin has a very uncertain future.

    So have you invested into any cryptocurrencies? What do you think is good for investment in 2017?
     
  2. Mike30

    Mike30 Reputable

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    Each cryptocurrency has unique features, I think many of them has great potential as long as you can hold them for long time.
    Bitcoin is just the one that lead the pack. It is great to store value (similar to the gold but it has the potential to reach millions of dollars per bitcoin as some financial experts say.) Litecoin, is just way undervalued, there is no much difference between Bitcoin and Litecoin. There is just 4 times more, that's basically it. I like more Litecoin for transactions to buy/sell goods, they are faster and at the moment way cheaper than Bitcoin.
    Many look at the cryptocurrencies as investments, but the real value comes from how useful they are for the modern world of interconnections. Still, all of them are basically baby yet. You will see when the IPv6 become the standard of internet, everything will be clearer for millions of regular internet users that cryptocurrencies is the best thing of internet. (it is actually as big as the internet phenomenon and many just don't see the big picture of it.). In other words, do you see Bitcoin expensive? no way..... It is just a gift, just sit down and watch. And Litecoin maybe at a lower rate, but it will follow Bitcoin. Litecoin doesn't have an uncertain future as mentioned above, it is the most stable crypto as of today(look closer and you will see)
     
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  3. MasterA

    MasterA Administrator Retired Admin

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    I agree with you here but the one problem I see with cryptocurrencies is that the values are too big, especially with Bitcoin. A bitcoin at the moment costs around $1800 so if I want to buy a piece of bread with it, I need to spend something like 0.00001 Bitcoins. The annoying thing with using Bitcoins and other cryptocurrencies is that I have to work with all these decimals. Its not very user friendly in my opinion. Also the price fluctuates way too much. Not long ago (1-2 years go) 1 bitcoin was worth $300 and now $1800. One problem I see with businesses accepting Bitcoin is that they have to keep changing their prices constantly and its just a hassle. In my opinion, investment is good with crpyotcurrencies but with everyday usage, I prefer the other options.

    Maybe I should rephrase my wording but what I mean is that it is too stable, so stable that whether or not the price will rise is uncertain and therefore uncertain in the investment terms.
     
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  4. Mike30

    Mike30 Reputable

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    Yes, I don't think Bitcoin fits good for the everyday purchase. Litecoin has advantage on that, but there are others that are better suited for everyday purchase. But prices had been and will be fluctuating a lot due that is a new thing, it is just getting attraction, and for every single news good or bad, it will make big fluctuation until it stabilize just like any other currency.
    I had been on this since Bitcoin was at $5 and Litecoin at $0.07.
    Bitcoin, easily, but really easy can reach to 10k in a short time.(I firmly believe so) And when the block mining reward halves, it will go to the roof. (probably close to 50k or even much more.) It is not a joke, it is coming!
     
  5. ChrisGrigg

    ChrisGrigg Community Team Member Community Team Forum Sponsor

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    If you think $1800-$1900 is expensive now, wait until the coin difficulty goes up again and halves.
    I'm in at .50 bitcoin. Working slowly on getting a full coin. Trading daily with other coins to build up my btc. I'm jumping on the train now so I don't say "Well, wish I did" later on.
     
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  6. MasterA

    MasterA Administrator Retired Admin

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    You make me want to get some Bitcoins now. What makes you say that Bitcoins can potentially rise to 10k?

    Good point! Maybe I should try to get some Bitcoins too.
     
  7. Mike30

    Mike30 Reputable

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    About 3-4 months ago, Bitcoin was aroun $700-$900. I called to most of my contacts in my phone, and I told them to please, at least get a single Bitcoin. Many of them didn't know even the word of Bitcoin. And a bunch of them asked me "Are you ok?" and laugh. You just can't convince anyone if they are not willing to even understand what's going on. Everyone must take their own risk and many would die before taking risks.

    Just to make you think. If Bitcoin was valued at one point cents, and today is close to $2000, what make you think it won't go just beyond the imaginable price if it has the power to change the world in ways not seen before in history
     
  8. MasterA

    MasterA Administrator Retired Admin

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    Good point! Bitcoin has just hit $1900 and I still have 0 Bitcoins :(
     
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  9. ChrisGrigg

    ChrisGrigg Community Team Member Community Team Forum Sponsor

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    BTC trading at 1933 currently on Poloniex.

    I suggest investing $500 and then lend it out daily on Poloniex to start building your BTC. You get daily interest from lending.
     
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  10. MasterA

    MasterA Administrator Retired Admin

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    I saw that some people on Poloniex are lending it for 2 days. What is the point of lending? Is it safe, will they pay you back?
     
  11. ChrisGrigg

    ChrisGrigg Community Team Member Community Team Forum Sponsor

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    Yes, 2 days is the best to do. Yes, it's safe because the borrowers have to have collateral in order to borrow.
    You gain interest from the BTC that you loan out. It's daily interest.
    BTC is trading around $2056
     
    Last edited: May 21, 2017
  12. MasterA

    MasterA Administrator Retired Admin

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  13. ChrisGrigg

    ChrisGrigg Community Team Member Community Team Forum Sponsor

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    LTC is not doing so hot right now. It has been at the same level for quite some time. I highly suggest investing into Bitcoin instead. BTC is now trading at $2150 and upwards of $2200. You need to get in before it hits $3k.
     
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  14. MasterA

    MasterA Administrator Retired Admin

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    Can't afford it, lol. Maybe I will invest $500 into Bitcoin and lend it out for interest like you mentioned. I did buy some ethereum though since there seems to be a lot of hype for it and a lot of Fortune 500 companies are backing them up.
     
  15. ChrisGrigg

    ChrisGrigg Community Team Member Community Team Forum Sponsor

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    I "had" 7ETH but sold out when they were back and forth 87-91. Sold them at 91 and now look at them...Missed out on $546. So I'm just holding and riding the BTC coaster with Bytecoin. BCN has made me roughly $200 in past 2 days. Buying low, selling during the spikes for great profit.
     
  16. MasterA

    MasterA Administrator Retired Admin

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    What wallet are you using for Bytecoin?
     
  17. ChrisGrigg

    ChrisGrigg Community Team Member Community Team Forum Sponsor

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    I actually have my 200k coins on the exchange as I am constantly trading them. They have wallets for it although. You can check out https://bytecoin.org/downloads/
     
  18. Cosmic

    Cosmic Manners maketh man Retired Admin

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  19. ChrisGrigg

    ChrisGrigg Community Team Member Community Team Forum Sponsor

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    I can't believe it...Bitcoin is almost trading at $2400 now!
     
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  20. MasterA

    MasterA Administrator Retired Admin

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    Same, I can't believe it. At this rate, it could soon reach $3000.