If you new then start with small. Invest small amount of money then track the progress your investment. Make some strategy about your action with different circumstance. Its better to have some plan than no plan. Observe the market careful to understand how it move. Don't listen to others rely on your judgement about the market.

You should always have a plan. I think even if you invest in cryptocurrencies just for fun, you should have strategies for different scenarios. The value of cryptocurrencies can fluctuate a lot and not every moment is good for buying and selling.

If one should not listen to others at all, I don't know. But one should distinguish between facts and opinions. You can listen to opinions. But I would make my own decisions based on facts.

Tbh, they always respond to Bitcoin crashing. This is only one of the things I don't like in the crypto market. If there a way they can breakout from bitcoin controlling the market it will better for the crypto community.

At the moment. But I don't think it will stay that way permanently if different cryptocurrencies are used regularly in everyday life. And which coins will establish themselves, we'll have to wait and see. I think that some underestimated cryptocurrencies will also get the chance to develop their potential. For example, Idena's voting mechanism could be generally used for voting of any kind in the future.

That’s a good point… I like the idea of seeing how it works and getting a closer look into the community before investing. My only problem (as always ) is time… can you guess how long this puzzle solving takes? Approximately?

Validations currently take place every three weeks. I have never looked at the clock exactly how long a session lasts, but I would say about half an hour. You have to take your time, but it really doesn't take long. You can also invest without participating in the validations. Only if you want to mine, you have to be part of the community.

But I tried out the proof of personhood validation with Idena that was mentioned here (just to get to know this thing a little closer). It was quite fun actually I just wonder @mustela do I have to get an invitation code the next time as well? (thx)

So, how long did it take for you? You only need the invitation code the first time. But you have to complete four validation sessions in a row, only then can you miss a validation.

So I had some time to try out and make some investing plans…. At the moment the whole market is going down, so I decided to wait a bit on investing.
Or would you suggest that exactly know could be a good time to invest (hoping it will go up soon again…)?

You should really make your own decision. I personally believe that the world is changing a lot at the moment and that has an impact on the crypto market as well. However, I don't think that all cryptocurrencies will crash. Some will, some won't. And there will probably be opportunities for previously undervalued cryptocurrencies. If you want to add to and expand your portfolio, now may not be a bad time to buy.

Well, that's exactly what I mean. How many crypto projects directly related to donations to people in need and NGOs do you know?. Of projects that appear in forums and social networks, I think the answer is simple, 0. In all the years I've been in crypto (and it's quite a few years) I have yet to see any project publicly feature donation accounts, and that says it all.

In real life, I don't know anyone who has invested in crypto projects that are related to NGOs or support those in need. That doesn't mean I don't think there is such a thing. I just believe, like you, that it's very rare that such projects are truly charitable when you examine them more closely.

I think the truth lies somewhere in between. I believe that diversification is very important, whether you are looking to hold for long-term profits, trade, or speculate on very new cryptocurrencies. So even if you are interested in newer, more risky cryptos, it is worth having some top 10 cryptos in your portfolio so that your overall risks are lower.

I think we all see it that newer cryptocurrencies usually come with greater risks when investing. You see potential, but you don't know yet how the prices and the project will develop. Nobody can see into the future. I also see it as minimizing risk when you diversify.

But you don't have to invest money in all cryptocurrencies that you want to have in your portfolio. With some crypto projects, you can still mine something even as a single person.

Oh ok I see. As it is a proof-of-personhood concept this is to verify you are no machine – can’t a robot already read the content of pictures?
Do you also have to solve these puzzles to invest/to buy coins of this cryptocurrency? And the other way round: Am I right, that you can simply be part of this and have a look how it works without really investing and money at first?

In the future, robots may eventually be able to solve such picture puzzles. But not yet. It is probably already the case that bots can recognize individual elements of the images. But that's not the point of the picture puzzles at Idena. You have several pictures, which you have to put in the right order, so that the pictures make a logical story for humans.

The puzzles are created by the community. I think that if bots eventually become much better than they are now, the puzzles will certainly be adapted as well.

I know it's hard to imagine when someone describes it to you. But you can try it out without any obligation. Either at one of the validations or just to practice.

As far as I know, you can buy IDNA even if you are not validated. But I did it differently, because I wanted to become part of the community first, before I make a decision to invest.

Cryptocurrency investing can feel overwhelming at first and there is alot of information to take in. It is good idea to cover other financial bases before you buy your first crypto.

The fact that cryptos initially overwhelm you is probably the same for everyone when they first come into contact with them. But you don't have to invest large sums right away. The fact that you have your finances under control beforehand is also a very important prerequisite for me!

While there are companies and users who make good donations to people in need, I would not recommend anyone to do what you have said. 99% of charity coins are scams, and the remaining 1% fall short of a minimum amount of funding to help people, even small organizations. If someone wants to help an organization to help people with problems, it is always better to do it directly with donations, not through "projects" that usually disappear.

No matter if you support charity by investing or donate directly to certain companies and users, you should always check in advance exactly what it is about and if the money is really used for good causes.

You have to solve puzzles? That sounds funny what kind of puzzles are those? How do they make sure that a human is solving them?

These are picture puzzles. Here, several pictures have to be put in an order that results in a story that is logical for humans. How these puzzles work can be tested in a kind of demo version before the regular validations. Sounds more difficult than it really is.

What do you mean with “the idea of a basic income”? Is this really possible?

I think this definitely depends on the amount of the basic income. In this proof of personhood method, all participants have the same opportunity to contribute to the functioning and accordingly receive an equal number of rewards. So, the profits from regular mining are divided equally among the participants and everyone receives a reward on a regular basis. I do think that this can work.

If what you want is to learn and earn money, I recommend that you avoid meme coins and learn to know which projects can be successful, it is not easy, but with prior knowledge you will have things clearer.

If you can't see into the future, you can never know for sure which projects are promising. But I agree with you that with a lot of knowledge you can develop a good intuition. Nevertheless, one should be aware that not all new projects that promise success will be successful in reality.

But If talking about profit, double or triple profit we can choose new coins.

That's right. But only if the new coins are actually successful.

Tell me, do you have a 100% hit rate with your selection? I have already invested in promising cryptocurrencies, which then turned out to be unsuccessful. Even with a lot of knowledge, sometimes you're lucky and sometimes you're not.

My personal recommendation is the charity coins because every investment counts and it is helping the people in need as well. So I believe in humanity

I find that really likeable! Charity is definitely a good start. But there are also cryptocurrencies based on proof of personhood that are linked to the idea of a basic income.

I came across proof of stake but haven’t hear or read about proof of personhood could you maybe explain it a little closer? To be honest I do a lot to save our environment – I already felt a bit guilty to invest into cryptocurrencies when most of them do the contrary thing…

Well, in this innovative proof of personhood procedure, all participating users have the same chance and opportunity to contribute to the functioning of the protocol - and to receive a correspondingly equal number of rewards. So you could say that these are democratic cryptocurrencies. There are already a few coins that use the method so far. However, I only have my own experience with Idena. There are puzzles to be solved during validation. It sounds unusual at first, but it's not really difficult for a human.

In 2022 most of the crypto fan thought that the crypto market will bring the new wave but the current market is different. As the market is downtrend so it is better to wait for the next turning point.

The year is still young. Many things will still change. And certainly not only for the worse. The question is whether you want to wait until there is an upward trend again before buying. Or whether to buy now and possibly sell again when prices rise.

Dass es nicht immer nur aufwärts gehen kann, ist ja praktisch eine Art Naturgesetz, würde ich sagen. Dass es eine direkte Korrelation zwischen Aktienmarkt und Kryptowelt gibt, glaube ich eher nicht. Andererseits hängt ja alles irgendwie zusammen und auch wenn Dinge in keinem direkten Zusammenhang stehen, kann es ja dennoch Faktoren geben, die sowohl das eine, als auch das andere beeinflussen.

Der wichtigste Faktor ist und bleibt aber halt das Erste - egal wo man ist, egal worum es geht, egal wie sicher es erscheint: Immer nur so viel investieren, wie man im Notfall bereit ist zu verlieren. Alles andere kann das eigene Leben schwer belaten und häufig auch das von anderen Menschen.

Das sehe ich exakt wie du. Und ich glaube, viele Menschen, die zum ersten Mal investieren, nehmen sich das auch so vor. Die Schwierigkeit ist, glaube ich, häufig, dass man zuerst durchaus Erfolg haben kann. Schwierig wird es dann, wenn auf das Hoch ein Tief folgt und es dementsprechend zu Verlusten kommt. Ich vermute, dass gar nicht wenige dann den innerlichen Drang haben noch mehr zu investieren, weil es ja schon mal geklappt hat, und hoffen dadurch zwischenzeitliche Verluste wieder wett machen zu können.

Beim Investieren sollte man in regelmäßigen Abständen immer wieder ins sich gehen und sich auf die eigenen Prinzipien zurückbesinnen. Damit man vernünftig bleibt, denn das sollte man auf jeden Fall.

Das ist eine ganz gute Übersicht! Ich kann es ja auch verstehen, wenn Menschen total begeistert sind, wenn sie sich erstmals mit Kryptowährungen auseinandersetzen, aber ich glaube auch, dass man beim Investieren mit Verstand herangehen sollte. Grundsätzlich ist das Investieren in Kryptowährungen, meiner Meinung nach, mit einem gewissen Risiko behaftet. Deshalb würde ich es nicht empfehlen Geld zu setzen, dessen Verlust man notfalls nicht verschmerzen könnte. Was ICOs angeht, gibt es natürlich schwarze Schafe, aber nicht nur. Wenn man vor hat in einen ICO zu investieren, würde ich das gründlich durchleuchten und natürlich auch das Whitepaper durchlesen.