“Luckily” I didn’t have enough funds to fully join, so I will buy the next block when it stops falling. I know, dead cat bounces …
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What happens if you buy the required 350/3500 eur of CRO hold (or stack it?) and then suddenly they are worth less? do they cancel your card?
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You (as an “ordinary” investor) aren’t going to be able to invest in stocks of Fintech startups before they get popular.
it’s a really good question and I’m preparing a detail answer 
It can only go up
I don’t see why. Their goal is to have CRO staked, to be used in the ecosystem (or available for a burn), not the financial value of it. It’s my understanding
Thank you a lot for that question, it pushes me to think about it before answering 
And I hope this answer will help you and others have a different perspective on all this. I’m not a specialist or an expert per say, but I hope I have enough knowledge to have a valid point of view…
Before answering the initial question, it’s important to put things in context, meaning at what stage we are with this crypto/blockchain/Web3.0 thingy. As usual I’m using the Internet rise comparison to explain, because I think it is still a perfect fit.
Early 90’s, the Internet was starting to be used and had more and more data on it. And to crawl in all this data, we’ve seen the rise of the search engines, and other address books. And basically I remember this kind of conversation :
“Grandma, look! I can search the name of the doctor’s office, and I can directly have their phone number and address !”. And the answer was quit the same:
“Hum, ok… but how is it different from looking directly into my physical address book that stands by my phone?”
And it was a valid concern at that time. If you look at the matchup, you had :
On the left corner, the Internet! :
- Need a costly, heavy, noisy computer that may crash with a blue screen of death every time you power it on,
- After a long boot time, you still need to wait with that horrible sound for connecting to the Internet (while forgetting usually your password), load a page that took ages to display…
- And then when you finally have the correct address displayed (if you correctly avoided the 37 ads popup full of viruses and fishing to porn sites and scams), you can take a piece of paper and write the info on it, then go to the phone….
On the right corner, the physical paper phonebook of this year!:
- Open the damn thing, look for the address on the indexed data, make the call.
Basically this is where we are right now with Blockchain and all the things that come from it (cryptocurrency is just one side of it). We are just scratching the surface and we don’t even know who will be the next Yahoo or Google. For now we play with Lynx, Licos, MetaCrawler, Altavista, and all those search engines back in the day that rose and fell into the oblivion of time…
Fast forward 30 years later, you can now say on a device that fits in your hand “Hi Siri/Google, find me the closest doctor’s office” and it calls it directly, might book an appointment, while sending to your car the GPS information to drive there. Who, today (except my late grandmother, may she rest in peace) will say “but it’s useless, you can do the same with the physical phonebook, a phone, a map, and a compass!”
To come back to your question, I suggest that for all things in this field you try this mindset : financial gains are not the goal of all this technology, it’s only a byproduct. People will always find a way to make money off absolutely everything. Like in the late 90’s and the Internet bubble, some people made huge gains by just registering domain names. Does it mean that the purpose of the name service was to make money? Obviously not.
With today’s media and extremely fast information spreading, all the buzz around blockchain is mainly about crypto, and crypto gains. It teases people, makes them dream, generates clicks and revenue. But it’s not what the real thing is about.
About CDC specifically, why might it be different? If you don’t see it as a pure speculative investment, it makes sense as a product. This is, I think, the most complete solution that can flirt with mass adoption in the future. A way to use your cryptocurrency to pay for things in your daily life, seamlessly, with control of your funds and a democratic system to validate the use of the tool. You have applications and services that will live in the same ecosystem, providing more and more services, all using the same “fuel”, the CRO.
So you can use the traditional fiat system, and in the meantime earn these CRO, that obviously have a financial value, but at the end might be used for much more. It’s clearly not the first project/company to do so, but the aggressiveness of this one, the quality of their product (even if the main card app is pretty crap for now) and the span they have make them a good candidate for mass adoption. Or at least to spread the word, and open the door for others. There is plenty of info out there to learn more about the product.
So for me, it is more than just “investing in a startup”. It’s basically for the same reason I use Revolut : it makes sense in our current financial world.
Yes, for now you still have to pass through fiat to enter the crypto world. Will it still be the case in 15, 30 years? Who knows.
Like the Internet of the early days, it’s impossible to know what it will become at the end. But this time, almost everyone has the chance to be part of it at the early stages. Why wouldn’t??
If we’re comparing it to the dotcom, then it’s a good argument for not being involved… People lost a ton of money at the time.
True. But as you can see on all my post earlier, I never (I think) suggested that I will invest on the coin. I’m just saying that using the product is as good as any (almost), and the upside is really high. That’s it.
If at the launch of Google, you were offered the possibility to every time you make a search, be rewarded 1cts, or 1 share of Google… would you consider a big risk to choose the 1cts everytime? Or, if you find that the product might be good, hold this free share and see how it goes?
It is basically the same situation here. We just don’t have the hindsight that it will be the next Google. If it’s not, well, you didn’t lost a thing and at least you know how it works and you will be more savy down the road when mass adoption of those techno happend (I don’t see why not).
If it goes well, well…
If you want to have historical analogies, than financially we are rather in 1960. S&P500 already exists, but there are no investment vehicles to invest in all stocks of this index. As a small private investor, I have no other choice but to do stock picking. I will probably go for biggest ones and try to pick few promising middle caps as well. But it all is a pure speculation - while index went 80x times up till now, my original investment is most probably busted. Or I am stinking rich if I got lucky.
I would like to invest in a basket of all cryptocurrencies ex Bitcoin (and ex Ethereum maybe), but I don’t think I will be able to do it next 10 years.
Another difference is that stock means something, you have a piece of equity, if productivity/consumption/economy grows you get a piece of the growth.
So far besides maximalist theories (though given the landscape seems unlikely to have a winner take all that’d wipe out all cash usage, and if we reach that state I’d have bigger worries like the next recession due to not being able to use monetary policy to cool things down), I don’t see much beyond speculation in crypto.
And this kind of article seems to confirm it that it’s mostly hype over a collectible to get rich quick (tulip anyone)
https://fortune.com/2021/11/18/gen-z-adults-us-millionaires-crypto-investing/
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I don’t think so. The only thing that counts is that you stake the required amount for 180 days. If they are worth much less after those 180 days you might need to buy more tokens to be able to stake again.
I unstaked my 10k CRO Indigo stake and re-staked when it hit CHF 0.80 to sell the rest for BTC. I’ll let you know
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I’m still waiting for the cat to reach a (temp) floor…still falling.
Worst entry time ever… -22%
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Same situation here at least I didn’t buy the whole stack. Let’s see when I can continue. I will have to spend more than 3.5k.
edit: I still open the app from time to time and I wonder why no one complains by the simple fact that they just lie about the performance. I don’t really care if it gained 5% in the last 24 hours, I want to know the performance of my f… portfolio…
“slightly” off topic. I’m trying to see which api to use to get their data:
https://api.crypto.com/v2/public/get-ticker?instrument_name=CRO_USDT
What’s the instrument name? The one in the example seems to be wrong
I would use the coingecko api
CRO: https://api.coingecko.com/api/v3/simple/price?ids=crypto-com-chain&vs_currencies=usd
BTC: https://api.coingecko.com/api/v3/simple/price?ids=bitcoin&vs_currencies=usd
Find the OpenApi definition here CoinGecko API (V3)
SwissTeslaBull Please could you show how I would use that in a Google Sheet?