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@realcaseyrollins you to consider two seperate flows (at least this is how i invest crypto).. 1 is the "I want to invest in crypto" flow, this will either be conventional investments vs anything crypto, or will be your every day schmoe who doesnt invest thinking crypto is the future... this flow will effect both coins.
then 2) is the whole "im moving my crypto currency into eth/btc".. this group is mostly people who are already invested in crypto, most of whom always stay in crypto and dont really leave, and just move between coins.
Depending on the specific hype or effect you are following these two flows tend to be rather isolated.
@freemo I’m just hodling rn but I’m definitely in flow #1. I invested a tad bit a month or two back, and am waiting to get some more investing money to put into more crypto
@realcaseyrollins If your going to do crypto seriously you really need to get into the tokens
@freemo Which tokens?
@realcaseyrollins im not advocating any one token, there are a ton, but its where i make most of my money going in on crypto tokens (mostly ether tokens)
@realcaseyrollins None of those are tokens.. tokens are a bit like coins, but they exist internal to a particular coins ecosystem and not all coins have them.. Most tokens are ethereum based, neither litecoin nor bitcoin have tokens.
In the context of ethereum a ethereum token is much like a coin in its own right, excpt they usually fill some purpose and are enforced by ethereum smart contracts.
Generally you buy a token with ethereum and can sell tokens for ethereum, sometimes its a. bit more complex than that though. Usually a token has some purpose beyond just being another coin. For example a token could represent ownership in a physical object, as an example.
@realcaseyrollins because tokens are constantly being invented so you get in on the ground floor to make good money (potentially) and because unlike ethereum which is just money, they actually have some intrinsic value as they represent something or have utility.
It would be like asking "Why would i invest in the US money vs investing in stocks"..
@freemo Ooh very interesting! I’ll have to take a look into these.
Why are tokens better than coins?