Most undervalued cryptocurrency - your opinion?

Zonomel

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What do you think is the most undervalued cryptocurrency?
Do you have some smaller and unknown projects that you are watching?
It's a very volatile market at the moment, but that makes it interesting.
Do you think the crypto market will be able to recover?
 

whitesand

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Jun 15, 2022
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None of us can see into the future and predict what the next big thing will be. I also don't think there is just one undervalued cryptocurrency, but several.

In general, though, I do believe that the crypto market will recover sooner or later. I think either it will end with cryptocurrencies altogether (which I think is extremely unlikely at this point). Or the prices will rise again at some point.

If you believe in a future for cryptocurrencies, now is probably not a bad time to invest. Precisely because the prices are low and you get relatively much for relatively little money. I myself will continue to monitor the current developments and then expand my portfolio.

I will no longer bet on blockchains that are based on proof of work, like Bitcoin. Instead, I will focus on cryptocurrencies that are based on alternatives such as proof of stake or, like Idena, on proof of personhood. Or which, like Ethereum, are planning to switch from PoW to PoS. Whereas with Ethereum, I will wait to see how it goes. The switch was announced a long time ago and has now been waiting for some time. But I think it will be a real gamechanger and make people aware that there are better alternatives to PoW.

I would like to leave one more tip here: When investing in crypto, there are great opportunities, but also risks. So it is important to make good decisions and not to use money whose loss you can't bear in the worst case. If you don't have much or any money but still want to invest in cryptos, you should find out which coins might be worth mining.
 

techie81

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The market is saying all crypto is overvalued. I wouldn't buy into crypto at this point.
I personally think ETH has the most potential for growth. The market is down now but long term I think ETH will be one of the main players since it will be the most integrated into apps/banking, etc. It's not exactly cheap but historically speaking, a steal.

The only other currency I would go for is ADA since it too will likely be utilized in some fashion. It's also dirt cheap right now.
 

Zonomel

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The market is saying all crypto is overvalued. I wouldn't buy into crypto at this point.
There are cryptocurrencies that have increased in value again. Even the stock markets have weakened after the interest rate hike was announced. In the long term, many things will rise again - whether stocks or cryptocurrencies. Some will fall by the wayside but that's also good, it can be a little thinned out. With meaningless Memecoins and NFTs, the market has been flooded a lot in recent months.
None of us can see into the future and predict what the next big thing will be. I also don't think there is just one undervalued cryptocurrency, but several.
Of course not. I also do not want tips to invest. But suggestions to expand your own horizons would be nice. Other people may well have come across good projects.
One should not blindly adopt these tips. You have to do your own research and check everything - but I assume that.
I will focus on cryptocurrencies that are based on alternatives such as proof of stake or, like Idena, on proof of personhood.
I didn't know idena yet, for example. That doesn't mean anything to me now. I also don't know what the Proof of Personhood protocol is about. But I will do some research on this.
Why is the Proof of Work protocol a problem for you?
You exclude most cryptocurrencies with it.

It's also dirt cheap right now.
This is the good point with the fallen prices in recent weeks. You can get back into projects relatively cheaply.
 
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Or which, like Ethereum, are planning to switch from PoW to PoS. Whereas with Ethereum, I will wait to see how it goes. The switch was announced a long time ago and has now been waiting for some time. But I think it will be a real gamechanger and make people aware that there are better alternatives to PoW.
Yeah what’s up with that? I feel like this transition process has been taking forever, wonder when it’ll finally be done.

In general, I am absolutely positive that the market will recover sooner or later. And as for now, it’s certainly not the worst time to invest, because you can actually get many of the coins a whole lot cheaper. Of course, be aware of the risk and so on. I’d recommend like you said, to do your own research. When you ask around you can never know what people’s real motives are behind their recommendations. But of course just to discuss and get other opinions, forums like this are great.
 

Zonomel

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Yeah what’s up with that? I feel like this transition process has been taking forever, wonder when it’ll finally be done.
But then you could switch to Proof of Personhood right away. That would consume even less power and would also be more democratic.

Allegedly, Ethereum is concerned about the high energy consumption. We would now have to look at whether POP already existed at the time when Ethereum decided to switch to POS. Otherwise, there would be no reason why one would not switch to POP right away. At least not if you are serious about lower power consumption. But with the POP protocol, one will probably also give away too much power to the users and could no longer favor some users.
 

whitesand

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I personally think ETH has the most potential for growth.
I also believe that Ethereum has a lot of potential. But I think that the constant postponement of the switch to proof of stake has hurt the cryptocurrency. Or do you know any good reasons why it keeps getting delayed?

The only other currency I would go for is ADA since it too will likely be utilized in some fashion. It's also dirt cheap right now.
I invested in Cardano last year because I was very convinced. Unfortunately, I still bought some coins at an inopportune time. But I am still convinced of ADA and I am confident that the prices will rise again.

I didn't know idena yet, for example. That doesn't mean anything to me now. I also don't know what the Proof of Personhood protocol is about. But I will do some research on this.
Why is the Proof of Work protocol a problem for you?
You exclude most cryptocurrencies with it.
My assessment of proof of work is not shared by everyone else. I know that. But I think that the method has too high power consumption and is also not very fair. Because in the meantime very high computing power is needed for mining, which almost no one can afford anymore. Except for professional mining pools. And how decentralized is that then? Proof of stake I think is fairer in that no one fails because of the technical equipment. But there is also the problem here that those who have more coins also have more influence. I don't think that's much different than the current monetary system. Proof of personhood, on the other hand, ensures that each participant's vote carries equal weight. Feel free to look at how IDNA works. Each person can really only operate one account with one crypto identity.

I’d recommend like you said, to do your own research.
I see it that way, too. The opinions of other people can only serve as an impulse to do thorough research yourself.
 

techie81

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I also believe that Ethereum has a lot of potential. But I think that the constant postponement of the switch to proof of stake has hurt the cryptocurrency. Or do you know any good reasons why it keeps getting delayed?


I invested in Cardano last year because I was very convinced. Unfortunately, I still bought some coins at an inopportune time. But I am still convinced of ADA and I am confident that the prices will rise again.


My assessment of proof of work is not shared by everyone else. I know that. But I think that the method has too high power consumption and is also not very fair. Because in the meantime very high computing power is needed for mining, which almost no one can afford anymore. Except for professional mining pools. And how decentralized is that then? Proof of stake I think is fairer in that no one fails because of the technical equipment. But there is also the problem here that those who have more coins also have more influence. I don't think that's much different than the current monetary system. Proof of personhood, on the other hand, ensures that each participant's vote carries equal weight. Feel free to look at how IDNA works. Each person can really only operate one account with one crypto identity.


I see it that way, too. The opinions of other people can only serve as an impulse to do thorough research yourself.
I think its new tech and they need to ensure there are no deal breaking issues with security. Better to delay and get it right then release something that will be hacked, etc.
 

Zonomel

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My assessment of proof of work is not shared by everyone else. I know that. But I think that the method has too high power consumption and is also not very fair. Because in the meantime very high computing power is needed for mining, which almost no one can afford anymore. Except for professional mining pools. And how decentralized is that then? Proof of stake I think is fairer in that no one fails because of the technical equipment. But there is also the problem here that those who have more coins also have more influence. I don't think that's much different than the current monetary system. Proof of personhood, on the other hand, ensures that each participant's vote carries equal weight. Feel free to look at how IDNA works. Each person can really only operate one account with one crypto identity.
I can understand your point of view. I am also completely with you.
Many people are purely concerned about profit and don't think about energy consumption. The criticism of the high energy consumption of cryptocurrencies is not new. Therefore, it meets the spirit of the times when you look for alternatives.
I see a lot of potential there. It was the same with stocks and ETFs. More and more green and sustainable investments came and are coming. If the demand is there, you serve the demand. I'm curious whether there will also be this demand for cryptocurrencies.
 
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