Most undervalued cryptocurrencies in 2022 - your opinions?

You’d almost miss when someone would arrive in to a thread like this and say XRP or Nano.

HerrKuehn

https://www.boards.ie/discussion/comment/119201900#Comment_119201900

Most undervalued at the moment is obviously Elon GOAT token (EGT). Great project.

Irish_rat

Nearly everything is still overvalued right now

olymoly

@sofasurfer90 : thanks for that – I have looked it up and got curious. Do you have any practical experiences with their concept of proof of personhood? To me this sounds like it could be a real gamechanger in the field of cryptocurrencies as it rethinks they whole system behind it.

I also think that sustainability will play a big role in the future (like everywhere in life but especially in crypto).

@Potatoeman : thanks for that, will have a look. And yes I’m well aware of the risk – still thanks for the reminder 😊

@HerrKuehn: thanks also for this tip

sofasurfer90

Yea I did invest a bit a while back and have been taking part in their valuations since then, which you also get rewarded for with coins if you pass. Of course it’s also what proves your humanity and keeps the network secure from attacks. I would agree for that sort of blockchain to be a potential gamechanger, because all participants are equal whereas for example in other big coins there is now highly concentrated mining by a handful of people, because they have the advantage. So the more democratic approach is what speaks to me. Also the fact that this type of blockchain reduces the energy usage by a lot.

HerrKuehn

https://www.boards.ie/discussion/comment/119216121#Comment_119216121

Please don't invest in Elon Goat, it is a pure pump and dump, it was just a joke. Obviously, some people might money on it, but everyone thinks they can sell it a high price to some idiot (until they realise they were the idiot someone sold it at a high price to).

Dohnjoe

https://www.boards.ie/discussion/comment/119200708#Comment_119200708

Shares can produce dividends, you gain rights. It's also part of a regulated rational market (if the company performs badly, the share price goes down, if it performs well, the share price goes up)

Dohnjoe

During the 2018 to 2020 bear, I invested heavily in alts, a disgustingly wide spread. Ultimately my eth out-performed 90% of them.

Yes I hit a few gems that did 100x, but it's largely luck (many others underperformed, some died). If people are going to go into an alt, very important to pay attention to max supply, and how much it costs you to buy a portion of that max supply. I typically check the cost to own 100,000th of max supply, it swings widely from coin to coin, it's an important factor. Also, make sure the dev's aren't anonymous, that's another red flag (of many)

Potatoeman

https://www.boards.ie/discussion/comment/119219067#Comment_119219067

The company can become insolvent and be liquidated. My point was with property at least you have the physical asset.

olymoly

@soulsurfer: cool! So can everyone simply take part in those valuations? I mean – could I just try it out to see how it works? As I said before I got quite curious. What do you have to do to proof your humanity?

That’s true unfortunately…

@HerrKuehn: Oh haha ok – haven’t yet come to look it up closer… thanks for explaining.

circadian

I've been scooping up Luna classic since the crash and I'd say I'm around €600 in. It's an extremely high risk move but the community is rallying behind the coin with a number of burn proposals implemented.

I'm banking purely on the burn taxes reducing the supply over time and will continue to DCA unless something drastic changes like Terraform Labs making moves against LUNC since their new Luna chain is bombing.

Like I said, massively risky move and I wouldn't put anything serious into this but even if it hits $0.10 I'm in retirement money, so I reckon we'll see $0.01 at best.

https://www.boards.ie/discussion/comment/119244563#Comment_119244563

Which of those turds are you buying ?

1 of them is well up....i would have thought people would start learning.....

Potatoeman

If you can’t see the market cap or circulating supply you can’t see what the max upside could even be. The developers would have jumped ship already.

circadian

https://www.boards.ie/discussion/comment/119262310#Comment_119262310

That's the whole play. LUNC got minted to about 7 Trillion during the crash/hack. Now there's community proposals being accepted by the validators and added to the blockchain, the community pool is due a significant burn next month and AFAIR every month thereafter. There's also code in the testnet to implement 1.5% burn tax on each transaction (not as big a deal unless exchanges get on board).

Basically, I'm going to continue to accumulate as much of this as I'm willing to spend, it's nowhere near my main portfolio numbers but if the supply keeps getting reduced then the price should rise. The market cap went from roughly $300 million last week to around $600 million this week. In crypto land that's not a whole lot.

Like I said before though, this is a highly risky move but the payoff potential is there. I dumped any Luna 2.0 I got in an airdrop as I believe that is doomed with Do Kwan being in the crosshairs of government bodies now.

EDIT: Coin Market Cap listing here https://coinmarketcap.com/currencies/terra-luna/

Mr Clever

That Shiba Inu seems very cheap. On Revolut I can get a million for a tenner

Potatoeman

https://www.boards.ie/discussion/comment/119262784#Comment_119262784

Founder disappeared and deleted his post history on Twitter. Not a good sign even for a sh*t coin.

Dohnjoe

https://www.boards.ie/discussion/comment/119262784#Comment_119262784

That's because there are 590 trillion of them created

It's a trick to make newcomers think they are "getting a lot" of whatever it is. It works.

https://www.boards.ie/discussion/comment/119277229#Comment_119277229

https://www.boards.ie/discussion/comment/119244563#Comment_119244563

A million virtual dogs for a tenner and if it moons im a millionaire * by thousands of halfwits = a few lads did well.

silliussoddius

https://www.boards.ie/discussion/comment/119277229#Comment_119277229

Sounds like the homeopathic remedy of sh!t coins.

circadian

https://www.boards.ie/discussion/comment/119277303#Comment_119277303

Well that's my point isn't it, I don't see myself making millions I see myself making a tidy profit. There's moonboys everywhere, they're a vocal minority.

https://www.boards.ie/discussion/comment/119278714#Comment_119278714

Every single one has lost their shirt

patsy_mccabe

Most undervalued cryptocurrencies in 2022 - All 20,000 of them are worthless junk. Don't throw you hard earned money away.

circadian

Insightful Patsy, riveting.

erlichbachman

https://www.boards.ie/discussion/comment/119279928#Comment_119279928

so, if I was to give you 1 BTC, 1000 ADA, or 50 ETH then you would just throw them away?

patsy_mccabe

How can you put a value on something that there is an infinite amount of. Nobody uses and has zero intrinsic value.

Go ahead and start you own cryptocurrency. You might as well add to the pile.

Dohnjoe

https://www.boards.ie/discussion/comment/119280564#Comment_119280564

It's not infinite, that's the key. Artificial scarcity.

Dohnjoe

https://www.boards.ie/discussion/comment/119279906#Comment_119279906

It's a transfer of wealth between a large group of people. If you bought Eth at 10 quid in February 2017, it's now worth 100x that original value, as long as you sell. The person who buys it off you in turn is hoping to make a profit off someone else, typically via the greater fool theory.

So indeed people have lost money, but they have simply transferred their wealth to others, who have made money.

patsy_mccabe

https://www.boards.ie/discussion/comment/119283283#Comment_119283283

It's finite within the currency but infinite across all currencies. The total number of all cryptocurrencies coins is being added to constantly. New Ponzi schemes sprouting up every day.

patsy_mccabe

https://www.boards.ie/discussion/comment/119283313#Comment_119283313

Exactly. A Ponzi Scheme in disguise. Very similar to regular gambling. People think when they win on the horses, it's out of the Bookie's pocket it comes, when in fact it's from the other punters that have lost on the race. The bookie just takes a slice, his commission, regardless of the race. Same as the crypto exchanges.

Dohnjoe

https://www.boards.ie/discussion/comment/119283423#Comment_119283423

Indeed, but we don't like to talk about the elephants in the room, not good for encouraging people to buy crypto.