Bitcoin help for a neophyte

[simpdog]

A Ponzi scheme is an investment scam that pays early investors with money taken from later investors to create an illusion of big profits.

<Redacted coin> - Holders are rewarded with a 10% redistribution on every buy and sell. There is a total tax of 16% - 10% is redistributed, 3% for marketing and 3% for the development team



Versus let's go with a Memecoin, PEPE

Pepe is here to make memecoins great again. Launched stealth with no presale, zero taxes, LP burnt and contract renounced, $PEPE is a coin for the people, forever. Fueled by pure memetic power, let $PEPE show you the way.

To me there is a huge difference between participating in a shitcoin memecoin gamble and an absolute ponzi scheme. While PEPE relies on new people buying in, it's supply/demand based.

[JohnCommode]

Easier said than done, but here is the real way to make $$ in crypto nowadays:

- Keep your eyes peeled for a new memecoin, or for an existing crypto whose value was previously depressed and has a very solid reason to make a comeback (Solana was a good example recently, but the time for that has passed)

- Buy a bunch with the promise to yourself to where it's a short term investment

- Watch very carefully when it "pops", and sell everything as soon as it appears to level off


Buying bitcoin at 69k isn't going to do much for you. Even if it hits 100k, you've made less than 50%. And it can easily crash and wipe out much of your investment.

The real potential with crypto is to make orders of magnitude above your original investment.

And the absolute absolute absolute WORST thing you can do is buy a memecoin or NFT on its way down. Like actually never do that.

I generally agree with Druff's advice about memes. Don't use serious money with memes because they're not worthy of a serious investment.

I disagree with Druff's thoughts on BTC:

90+% of all the BTC there ever will be has already been created with a 21 million max. By 2028, that percentage will be in close to 99%. Scarcity creates higher prices

3-6 million of those have been lost forever by incompetence or inexperience. Crypto is unforgiving when it comes to careless handling. BTC ETFs are the way to go if you aren't interested in learning about custody, transfers, wallets and exchanges. The very rich and very old prefer ETFs as opposed to actual coin ownership.

BTC as a store of value is designed for long term holding. However, BTC is much more volatile than stocks, but those dips that will constantly occur are great buying opportunities to add to your stack at bargain prices

I disagree strongly that it's too late to invest in BTC at $70,000. Even as old as I am, I expect eventually to see BTC at many hundreds of thousands of dollars per coin.

[Texter]

I put a tiny stake in ARKB etf.