These are my thoughts on Altcoins and my overall hesitations with the market in general. For my subs that that don’t like crypto videos…don’t worry, I don’t make many of these and I do my best to make them as informative and unbiased as possible, so there’s no personal agenda behind this. Enjoy! Snap/Instagram: GPStephan
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Just a quick disclosure here - I’m invested in several Altcoins and there’s a few I think have a ton of potential. I’m not going to mention any of them, I’m not going to FUD anything I think is awful, I have nothing against altcoins, not gonna talk poorly about anything specific, but I wanted to focus on this market in general, the current state of its popularity, and a few of my concerns behind it.
Don’t get me wrong, I think we’ll see some promising growth long term from some alt coins, I’m sure and some of which I think could be a real contender of Bitcoin and Ethereum. I actually think altcoins in general will have a lot of potential and we’re really just in the infancy stage of all of it…but the current way this is going is unsustainable. There is no way so many of these coins can sustain these price increases where you can profit consistently unless you’re lucky, you plan your entry and exit points and get them right based off technical knowledge, or you’re in “the know.” I hear so many people talking about the dollar being manipulated, but wow…he level of manipulation in these altcoins is through the roof.
The amount of shilling and pump and dumps I’m seeing is atrocious. Right now is really like the wild wild west where it’s a total free for all and it’s all entirely unregulated, where the price of a coin depends more on the marketing and the right twitter shout outs than the technology behind it…some coins don’t even having a working product! Think about that for a second.
THIS is my concern. I’m not talking about any one coin specifically, because some of them I really like, and some of them are just so absurd. But the sad reality is that the absurd coin could pay for some shout outs and if a pump and dump group gets in on it, with the right combination of a price increase and marketing, it could skyrocket. Makes zero sense, but because of the unregulation of this, it’s basically a free for all. And now, every other company is hopping on the “lets make a coin” train and trying to implement their own currencies. And they’re making a ton of money in the process.
The reality here is that this just isn’t sustainable long term. Something will have to change at some point…i don’t think this can continue in the long run, nor do I think this is an indication of a healthy market. It’s nothing against Altcoins or cryptocurrency, it’s just about something having real use and longevity. When a single tweet has the power to send a coin up 500% in a week, or down 80% in a day, that really says something about the speculative nature of this market. And because we’re all still so early to this and all of this is still extremely new, relative to every other market, we’ve got a ways to go before we how this plays out and can realistically value a coin.
Don’t get me wrong, I’m not against alt coins at all. I like many of them. I think many are absolutely crazy. I think some have potential and some are outright unreal. In terms of money to be made, you can make a ton, you could lose a ton. Even though I’ve made money from alts so far, I’m not naive to the fact that I could just as easily lose it all in the next week. So when I raise my concerns, it’s coming from a place of being completely unbiased on how this plays out.
I’m not saying it makes sense just to sit on the sidelines and watch, either, but just to be realistic with your expectations that many of these will end up failing. Some of them may do well. But I’d hate to see people get burned and lose money because they didn’t fully understand what they were getting into. That’s the entire point of this video.
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Join the private Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
Just a quick disclosure here - I’m invested in several Altcoins and there’s a few I think have a ton of potential. I’m not going to mention any of them, I’m not going to FUD anything I think is awful, I have nothing against altcoins, not gonna talk poorly about anything specific, but I wanted to focus on this market in general, the current state of its popularity, and a few of my concerns behind it.
Don’t get me wrong, I think we’ll see some promising growth long term from some alt coins, I’m sure and some of which I think could be a real contender of Bitcoin and Ethereum. I actually think altcoins in general will have a lot of potential and we’re really just in the infancy stage of all of it…but the current way this is going is unsustainable. There is no way so many of these coins can sustain these price increases where you can profit consistently unless you’re lucky, you plan your entry and exit points and get them right based off technical knowledge, or you’re in “the know.” I hear so many people talking about the dollar being manipulated, but wow…he level of manipulation in these altcoins is through the roof.
The amount of shilling and pump and dumps I’m seeing is atrocious. Right now is really like the wild wild west where it’s a total free for all and it’s all entirely unregulated, where the price of a coin depends more on the marketing and the right twitter shout outs than the technology behind it…some coins don’t even having a working product! Think about that for a second.
THIS is my concern. I’m not talking about any one coin specifically, because some of them I really like, and some of them are just so absurd. But the sad reality is that the absurd coin could pay for some shout outs and if a pump and dump group gets in on it, with the right combination of a price increase and marketing, it could skyrocket. Makes zero sense, but because of the unregulation of this, it’s basically a free for all. And now, every other company is hopping on the “lets make a coin” train and trying to implement their own currencies. And they’re making a ton of money in the process.
The reality here is that this just isn’t sustainable long term. Something will have to change at some point…i don’t think this can continue in the long run, nor do I think this is an indication of a healthy market. It’s nothing against Altcoins or cryptocurrency, it’s just about something having real use and longevity. When a single tweet has the power to send a coin up 500% in a week, or down 80% in a day, that really says something about the speculative nature of this market. And because we’re all still so early to this and all of this is still extremely new, relative to every other market, we’ve got a ways to go before we how this plays out and can realistically value a coin.
Don’t get me wrong, I’m not against alt coins at all. I like many of them. I think many are absolutely crazy. I think some have potential and some are outright unreal. In terms of money to be made, you can make a ton, you could lose a ton. Even though I’ve made money from alts so far, I’m not naive to the fact that I could just as easily lose it all in the next week. So when I raise my concerns, it’s coming from a place of being completely unbiased on how this plays out.
I’m not saying it makes sense just to sit on the sidelines and watch, either, but just to be realistic with your expectations that many of these will end up failing. Some of them may do well. But I’d hate to see people get burned and lose money because they didn’t fully understand what they were getting into. That’s the entire point of this video.
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Thank you so much for this video
Graham please make an updated video about XRP for May 2021
Vechain a real coin and already in use!
It's crazy watching this video, knowing what happens shortly after. Graham, in his most exuberant state, still knew that an investment lacking fundamental data is a high risk
Words can’t express how much I am to trust&deal with eazy_hacks01 on ..!nSTA ,
Eazy_hacks01 on …!nSta is a pro
I can’t stop thinking about how amazing eazy_hacks01 on ..!nSta is , wow I’m happy
Nice Jacket Bro, Can you share where you bought it?
You were right. When you made this video the bitcoin dominance was 39% now it’s closer to 67%. Altcoins continue to bleed against bitcoin.
digibyte
Make a vid on precious metals. Real money.
No one has any idea what’s coming with xrp
My concern is the SEC needs to start doing more reviews on ico’s
HGT, MED, and maybe ZRX
License plate shoulda said HODLambo
Lol censor the word shit, but have a sign on ur desk saying "epic shit" lol take that YouTube cops! Respect bro..u got a sub from me
I wish more people would make videos like this. I do invest in alt coins but not without a ton of research about the tech, the actual use case, what is actually happening, etc. on a particular coin. Some may say I've made bad choices but I support the ones that have real world uses, actually being used, active development, etc. Not surprising so many are looking to get rich off of others emotions and I really dislike how this affects the view of teams that I believe have great potential. And yes, there are a few that are severely undervalued because they don't get the attention they deserve because the focus is on the development/use rather than hype.
Oh Gor! Sounds like me! I just finished selling all my 'alt coins' and my money's going into my bank account now. But now, because of some extra information, I can't wait for my money to clear so I can head on back to buying what I just sold!! Where will it end? Who to believe??!! This time, hopefully I'll hold…. (others say, my problem is, I do too much research, but is that possible?) One more try.
Everybody should hear this.
The Youtube cryptocurrency is called Steem. The platform is called DTube
Another gambler in crypto. Hardly a surprise.
lmao just randomly FUDing, even 2x speed is too slowww, get to any facts bro, literally read a book on cryptography takes like a week you will understand that crypto is the biggest thing in cryptography in 2000 years applied to finance,
hmmmm, "pump and dump" sounds like what I do in the Porta Shitters back in Fort Benning
Dtube
This should be a public service announcement. Thanks for maintaining your integrity.
Great video, doug polk and you just made me start a crypto channel in english and spanish. Real talk wish most youtubers would be like you guys.
Graham,I started following you when your first few videos came out, I just want to say what you have done in the time you have done it is amazing! Well done man, great personality you have!
Please feel free to keep these crypto videos coming. I come to you as a fellow millennial in regards to financial guidances, and crypto is a big part of it. There are plenty of millennials doing crypto channels– however, I think you're more of the more conservative approach, so I appreciate that. 🙂
Woow 100% agree with what you said man. Thanks for the vid!
lol i tell my friends that arent locking in their profits to stop being so delusional and … its useless they are completely stuck in fantasy land. They are gonna get crushed long term.
hey Graham, what watch is that?
I didn't know you took Vegas trips. Totally changes my thoughts about you.
Hi Graham. What website do you use to trade altcoins? I signed up to coinbase. Its a nice interface but the selection on there is quite limited.