What if you have at-least 1 coin per crypto currency – OCPC (One-coin-per-crypto). Now, this coin could be an earned coin, a mined coin, an exchanged coin, bought in an ICO, it really does not matter (except that it is not stolen money or gotten from any illegal means). There are good enough reasons to put money into crypto, the biggest one being diversification across available crypto currencies and the potential returns from at-least some of them. Not each crypto-currency would actually give a positive return, however, one is expected to put enough thought and discretion to consider the risk and have some logical reason (possibly long-term) to have bought that particular coin in the first place.
Why OCPC? Because I believe in the block-chain technology, the revolution it is bringing to the financial world and its impact on the economies around the world. However, depending on just one artifact or manifestation of Block-chain (eg. Bitcoin) is like selling the block-chain technology too short and remains too risky. This is not to say people have not made money with BTC, in-fact they have made millions, but I see it mostly behaving as a penny-stock with high volatility. Although with its huge price now and market share, the volatility might reduce and thus the sharp profit/loss.
Another point that I have in mind is, block-chain (the mother technology) is giving rise to many other alternate coins, some of which may fail, and some may surpass BTC, while each one provides a specific value in certain domain and each on thus create a focused market share. Discounting for the frauds in the Initial Coin Offerings (ICOs) and other such schemes, valid ALTERNATE currencies should not be ignored. Several other factors for alternate currencies:
Let me re-phrase that for ya. Your question really means, “How do I earn free money?” So, do you get the picture already?
Someone would give you money, when he/she can really get something out from you. It may be your time, your friends contacts, your social profile etc etc. You may think you are getting some free tokens, or satoshi, or whatever, and all you have to do is watch some wasteful ads, fill some surveys, click or fill some continuous captas, forward the links to your friends or facebook profile, etc etc. Well, if you really think the time you are putting in those activities, is worth the money (and importantly help you grow further), by all means, go for it. Its not free money, however.
This section is to detail about my crypto holdings besides ETH and BTC.
I have currently bought into ATLANTIO after having gone through their Whitepaper and Youtube videos from their CEO and other team members. They are quite responsive to questions and its exciting.
However, after the ICO, the ATLANT.io token hasnot been able to preserve the investment value so far and rapidly went down on exchanges around the world.
I have looked at the IndiCoin and I am not too sure about the execution of this ICO yet:
After the ICO, the token has kind-of preserved its value, which is very good, although it may be because the cost of token was minuscule to start with. While many tokens like ATLANT.io were sold at about a Dollar per token, Indicoin costed about a Rupee per token (1 US dollar is about 65 Rupees). If the IndiCoin execution team plans the pipeline well, the token might become quite valuable! 🙂
Is Gold deflationary? There are limited coins, but each coin can also be sub-divided to individual Satoshi. Of course there are other alternate currencies that people can use/invest, but that is just like saying there are other metals besides Gold which are interesting to different people and industries. Hope you get what I am trying to say.
It is not same as fiat and it is also not too different from other crypto. These are alternate currencies using the same/similar base technology (block-chain) and each alternate coin does provide some additional feature or uniqueness or is tied to certain market (in this case a country).
Currency is a medium of exchange and crypto-coin is a medium of exchanging coins in a virtual-world (the world of computers and numbers we live in now), however, additionally, block-chain crypto coins are being treated as an asset-class (like Gold) due to the limited quantity set into each crypto-currency. Beyond speculation, the crypto has a huge use-case and benefit to the financial world and economy, as its value will depend on pure supply/demand and not get altered by a central authority to cause a deflation over time etc like we have with the cash saved in bank or home.
Not just J coin or Lakshmi, the Indian banks will start using block-chain based Utility Coin for settling transactions among them (Bank to Bank etc).
Now there are different people, some profiting from Bitcoin, some looking at Ethereum. I myself believe in the Block-chain. The bitcoin and other alternate currencies, J coin or Lakshmi are manifestations of the block-chain technology and in various forms. If the Bitcoin is Gold, then there are other alternate currencies that are like other metals like Silver, Copper and Platinum etc. Each one is used differently, each one has a value that varies based on its demand and supply and each one has a different availability and mining procedure.
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