Topic: Are Altcoins Fake? - page 3. (Read 657 times)

Of course there will be pros and cons related to these altcoins. Because, many people suffer big losses due to trading or investing in altcoins. However, it cannot be denied that there are also some people who can use altcoins to reap big profits. especially here regarding the altcoins that are currently hyped. They can lose big but on the other hand there are some people who can really take profits that high. Although I personally have never felt it

So, basically, these are also things that need to be paid attention to. Because after all, everyone's ability to analyze altcoins and the market is different. So if we are not yet capable of that, it would be better if we were more careful with altcoins rather than just prioritizing luck to get profits from altcoins. Regarding whether altcoins are fake or not, it's possible that some are fake or shit coins, in this case they are scams, there are lots of them. However, there are also real and legit ones, although the percentage seems to be smaller.

There's nothing as tagged fake in cryptocurrency. You're right, altcoins are the main projects that tends to give a trader substantial figures in the system. As long as we're able to triggered trade with good setups entries, there are no limits to what we can achieve from these promising altfoins projects. The major time to reap heavily from altcoins is basically when it's altcoins season and there are beneficial results that do follows. Altcoins are not fake rather there's existence of more scam projects that would end up liquidating the accounts of traders who invested hugh figures on them.

Unfortunately most of those fake altcoins are well package such that it's often very difficult to detect their genuineness, infact their developers employed influencers to promote the project so as to look real, as you rightly said getting updates and latest information of as many altcoins is one of the ways of avoiding investing in those fake altcoins, it's a pity that many newbies in their bid to make huge profit in s short time frame usually fell into the trap of those fake project especially memecoins which are mostly pump and dump coins, I am very sure a lot of unsuspecting newbies had lost huge funds after investing on those fake altcoins the best best is to invest in BNB, Ethereum, Bitcoin etc.

Most of the community members don't love the project or care about the technology. The only thing that matters for the community is to keep the development ongoing so that their investment grows with the project. The community sentiment is to change the project as soon as they get a new narrative and visionary team who promises them something that sounds more attractive. This is the reality of the altcoin market though this fact is not true for the bitcoin market That's why there has been no competitor to bitcoin till now. As the altcoin market is evolving so is its ranking. There is no guarantee that all the projects in the top 10 CMC will be able to hold their positions until the next bull run.

No one thinking it's fake. But there are some fake coins like fake Bitcoin, Fake ETH, even Fake USDT. But OP is not talking about it. The altcoins are not fake but most of them are centralized and scams. I won't say most of them scams, but most of them are centralized and some of them are scams.

Most of these top 10 projects you're talking about got affected by blackswan and also covid19. We should also know that Bitcoin also got affected but due to the level of commitment the community has, we see it rise. Now, the same thing is happening to most of the coins I listed and even BGB as well.

 How strong a project community is, also helps in determining how long a project could last in the market

Now, this is what I'm talking about. Some who read through and understood what I'm trying to convey.

Oh yes! Some coins don't necessarily need to pump when is are listed on a cex. Okay, let me use This TIA that got launched for instance. Immediately It went live, I saw done impressive move up. Some who don't understand the system would want to FOMO thinking the coin would keep going up.

Now, the reason it went that high is because of the hype by early investors looking for where to sell and at the done point, it will start showing some signs of corrections. Those who bought high would call it shitcoin, while those ego waited for retracement would see an opportunity to buy, waiting for the next move up.

You see why I say cex most times help in filtering this altcoin when is already launched on DEX because would want to be the cex that lists tons of shitcoins in the long run

There are so many scam altcoin projects, but they don't survive the market for long. The problem is that it is common for legit and even major altcoins to be dead in the long term. If you check top 100 ranking from 2016 then you will see there are many projects that were in the top 100 that don't exist in the market any more. Their technology became old fashioned and the industry moved to another narrative or their development team stopped developing the project. The altcoin market is actually a bit different from bitcoin market because most of the time old altcoin projects don't do well in the long run. That is the reason there are so many new altcoins and new narratives coming to the market on a regular basis. This is how the altcoin market is surviving by creating new projects and narratives.

So few of them became successful that's why its hard to spot what is good project between them. But also eventhough with their early success achieve still we should not fully trust them since there are successful altcoins turn to be a scam. Many doesn't expect that to happen but it did that's why we should be aware about their scamming and never hold new altcoins since there's still a huge chance that they will dump.

But if we pick those top alts which still exist with huge volume in the market then they are best choice to hold since experiencing a rug pull might not be a problem with this coin since they have so many supporters that can back up whatever market condition strikes at them. Overall for this research is really important to us so that we can figure out if the project is good or not then know when to secure our profit since this is important action that we must do to avoid losing our funds.

generalizing that all altcoins are shitcoins is not justified because coins like ethereum, tron, etc., are tokens that have a global economy and users. it is true that many of these altcoins are shitcoins, as in the last defi trend where many altcoins emerged and offered various attractive features and rewards to users, but almost all of these coins ended up being shitcoins. however it is unethical to equate these shit coins with altcoins that actually offer security, scalability and reliability solutions like those offered by ethereum, tron, solana, etc.

on the contrary, altcoins have also played a big role in developing the cryptocurrency ecosystem to the size it is today. don't forget the role of altcoins that bring innovative solutions and make users more choices besides bitcoin as their cryptocurrency.

Nowadays there are many scams altcoins project that's the reason why some of us did not trust easily in altcoins anyways there are few projects are successful so it means that they are not scams but before we join any projects must be better if we do our own research or else they to ask those people who are already knew in that projects cause there's a chance that you've become a victim once you are greed to join on what you saw in social media.

There is no way we can classified all altcoin as one because they are of different types, we have reputable altcoin and not shitcoin. The shitcoin are those coin that are coming to make themselves the number one project that will overtake the reputable coin in disguise to lure investors into holding lots of percentage of their tokens, what I understand is that people always See's altcoin as scam of course, they can call it scam because they didn't invest in the right project which possibly leads them to scam but with those recognized and reputable coin such as ETH as you said or BNB, LTC TRX WAVE and the rest have already gain ground so we can't call them shitcoin or scam coin.

Who thinking about altcoins are fake i hope he/she is really foolish bacause altcoin are best opportunity to trading crypto money earning always better.

If you follow the news since the beginning of a project, surely you have a logical perspective because every time there is an ANN update of course, you update your knowledge including the performance of the team or work with any developer, celestia is an airdrop by participating as a node validator, and this is a long enough time span for research, there are several similar coins such as aptos, I think these people already know about the possibility of a new project developing in other words, participants only participate, yes, if a project to the moon is a fortune, no one can guess the path of a project, but if you want to try to dig up information on Twitter and airdrop channels for each country, I'm sure there is.

The exchange is a gateway to buy instantly without waiting for the acquisition of shares, meaning that you can get more, let's say we buy a private sell, I'm sure we often encounter this if we monitor a project, even though the price is cheap, not everyone wants to buy even a little, if it has entered the dex it has entered the public and if it has entered the cex the price has increased several tens of times, I think there is a lot of liquidity, it is natural to get a lot of benefits for presale buyers, the most logical reason is because it is early and contributes to the development of the project.

If you like alt coins with real performance after listing on cex, you can buy for daily scalping or arbitrage, some cex will not pump the price simultaneously even if listing on the same day.

thats I agree, the fact that these altcoin you mentioned are all having large market capitalization is not some random altcoin could achieve.
there are indeed some shit altcoin that doesn't last long, mostly just for grabbing money by the devs, and then there are some real good altcoin that actually worth investing.
its just matter of how we diligently select some good investment based on fundamental and real world utility to invest not just investing into some random altcoins out there.
moreover, meme coins are usually the ones that tarnished the image of altcoin, many people get scammed with meme coin and blame altcoin as a whole which is not really good behaviour.

Ah yes, what I actually meant was that, even if the title is a question, it felt like an assertion rather than a question but thanks for confirming. In any case, I'm a fan of altcoins amd have always been since the ICO era. I'm aware that not a lot of people fancy altcoins and it's understandable. This is a bitcoin forum. I'm a big fan of Bitcoin and as much as I love Bitcoin, I know altcoins have their place in this space as well.

It's not a zero-sum game or a one size fits all kind of scenario.

You won't blame anyone for choosing Bitcoin over any altcoins, because I mean the past always speak and people tend to learn from previous experience with some of these altcoins that actually turned to a shit project. The funny truth is that if you actually hit a good altcoins during the bull market you can end up packing lots of profits but there is always a risk attached because some of these altcoins dumps so far and easily that you can end up losing all your savings in a matter of hours.

For the fact that there are many altcoins projects that had crashed due to different reasons, that do not mean that all altcoin projects are fake. Take a look at some altcoins projects that has been in the market for long like Ethereum, Doge coin etc and they are still doing well in the market. We need to invest in good project that has good team and community. This will help us to gain more from the market rather than just investing our funds in random coins that may not survive two consecutive bear market.

There are lot of altcoin that have a lot of offers and profitability to give out, people don't do research on coins that have potentials, and I agree with you when you said beginners do not have understanding of some of these factors. ETH has a lot of potential, litecoin too has stood the test of time, Elon coin is also among altcoin that have potential. The cryptocurrency industry is large, so you need to do your research properly to know atlcoins that have lots to offer.

It is true that there are large number of alt coins which have no clear use case and were created for fun or symbolic reasons with no real life purpose. However, it is important not to bracket all of them in the same category. Etherem, Solana, LTC, XRP BNB, ADA, DOT are  examples of good and robust projects, those are backed by strong community and they have meaningful purpose in many applications, such as creating smart contracts, as method of payment and for supporting the digital art ecosystem.