It seems like every other day there's a new story on here about someone who turned their $1000 into $100,000 through some random alt-coin. There's nothing wrong with that, but it's always important to keep things in perspective: for every post you see about something like that, there's 1000+ untold stories where someone lost everything on a similar gamble.
At the end of the day, crypto can act like any other investment type. It's important to have a strong belief in what you choose to invest in, so that when the eventual dips/bear markets come you're prepared. Sure, some people might've made a good amount overnight on DOGE or ETC, but the same can be said for the people that held BTC or ETH from 2018-present.
There's nothing wrong with putting a portion of your spare cash in a long-shot "investment", but you should go into it with the mindset that you've already lost the money. I have way too many close friends and family members who've FOMO'd into some random shitcoin and lost it all, and it's completely turned them away from crypto.
As a subreddit, we've got to normalize and encourage deep research into the coins, their use cases, market caps, and trading volume. By making that a key point of the subreddit's discussion, it sets an example for the new guys who may have otherwise yolo'd it into some coin created yesterday.
Anyway, just wanted to share my two cents (my two ALGO?). Cheers.
submitted by /u/The_Schemer
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