0 sats \ 2 replies \ @KingZing 22 Aug 2022 \ on: Altcoin recommendations? bitcoin
I have no idea why sol gets so much attention, it is possibly the most reckless chain there is, constant downtime and highly centralised.
Staking APY doesn't really matter when volatility is so high, unless you intend to hold it for years. Otherwise that's just an increase in supply emission and diluting the price.
The only three big alts i would consider are Ethereum (big Dev scene, layer 2 projects all improves its utility and value), chainlink (oracle service is crucial for defi) and monero (the biggest privacy coin)
But at the end Bitcoin is like the s&p500 of crypto, chances are you'd better off getting btc and store it safely. Alts come and go, any that has a blockchain centralised nodes is riskier by nature
Thank you for your recommendations. Personally I like SOL for the projects they have on their hands, I believe that at some point their issues will stabilize as their ecosystem evolves (or maybe they won't, who knows). About staking, my approach to crypto is to have it until I can use it as is for something, without exchanging it for hard dollars, so holding time is not a constraint for me.
I just quickly read about it, but chainlink doesn't have a token or coin, right? So how would you take a stake in it?
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if we do enter a high inflation high interest rate period, we will never see a strong risk on asset growth like we had for the past decades.
This is especially true for crypto, if a strong full risk on bull market is back in a decade, who's to say SOL will be even exist by that time?
At the end whether all these defi stuff requires a blockchain tech at all is questionable, take a look at DAG technology which is extremely scalable and gas free essentially. Projects are duplicatable and can be migrated easily.
Crypto is a hyper competitive market with extreme speculations, every chain fight for devs and liquidity. There's a reason why Bitcoin makes so much more sense to invest in, it has no competition, it can outlast governments, the community including here on stacker news make sure it can last.
btw, Chainlink does have a token, it's LINK. Horrible performance, but oracle is pretty much essential to all defi services.
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