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.