Coin with Utility or Coin without any Utility?

tvplus006

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Quote from: samcrypto on January 28, 2023, 06:16:54 PM

To avoid such project is the solution but since some investors are risk taker, they still buy despite of the uncertainty and depend on their luck on choosing the project. ..

If you invest in new projects and don't have enough knowledge to conduct a comprehensive research project, then it all becomes like a casino. But even if you are lucky for the first time and you guess with the object for investment, which is almost impossible, in the future you will still make a mistake and lose your deposit.

mindrust

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Quote from: Gcrypto786 on January 28, 2023, 12:07:15 AM

Those who are in the crypto space for over 5 years can actually understand the question more clearly than others.
We have seen that from the last 2/3 years, each day new and new coins are introduced in the market and many of those coins claimed that they are depended on actual utility, etc their ICO price is even higher as well when they list the coin on an exchange then the Initial price almost start from $0.5 - $1 or above like EWT/VICA, etc and there are many others, but at the end, their prices dumped to a very low like reached to bottom and some of those coins even disappeared from the exchanges, CMC and even their websites are deleted.
On the other hand, we saw there are coins that are considered MEME coins like Doge, and their price are low, everyone can buy them, and also they are still present on the TOP exchanges.
So, the main issue here is that Senior Crypto users/Investors/Trades can predict the price of new coins, read the White Paper and then take decisions regarding investment, but the problem is for the Newbie/New users as they don’t have enough knowledge and can’t be able to predict/analysis the price and at the end, they just lose the investment.
How to stop that kind of scam? And what is the proper way to save the Newbie from the honeypot?

There is only one real utility for a crypto currency. It is to transact a value from one place to another. Without a doubt, bitcoin is the best crypto that exercises this utility in a safest way. There are some other alts that are cheaper maybe but they are not as safe.

Meme coins, nft's, token platforms are all buzz which are going to disappear in the wind but bitcoin will remain.

There used to be a coin called IOTA. It was supposed to change the world in a way we can't even imagine. Where is it now? Nobody even remembers. Bitcoin is still here.

vv181

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Back in the ICO boom time, people know that ICO is being utilized to scam people, so that is one of the reasons it inspires other scammers to do similar tactics. Right now, IEO/IDO is popular and people can also create a brand new token simply. A low barrier to entry makes it possible that the token creation has no value or utility, they are simply fueled by bullshit.

You can stop that kind of scam, especially in the cryptocurrency environment. To be realistic, mankind has gone through many deceptions, yet, it keeps going on. What is need to be done by those who lack knowledge is simply by learning new things and comprehending the crypto scene. It is truly simple, the point is on the subject, not on the scam things.

CapGelatik

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Quote from: uneng on January 28, 2023, 09:09:30 PM

Quote from: Gcrypto786 on January 28, 2023, 12:07:15 AM

How to stop that kind of scam? And what is the proper way to save the Newbie from the honeypot?[/i]

If you can't make proper analysis of cryptocurrencies in order to reach a conclusion of which of them you should acquire and hold, just invest in bitcoin. It's the surest alternative among all cryptos disponible on this market. You don't have to worry about the coin's legitimacy, development and potential, because all these aspects have already passed successfully the test of time. That is the only way to save yourself from scams, without further knowledge of cryptocurrencies.

Yes, maybe it can be an alternative option where Bitcoin is still a much safer coin to invest than other coins,
to invest in Bitcoin I think we need to look at it for the long term because it will be profitable,
but again everyone has their own decision.

uneng

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Quote from: Gcrypto786 on January 28, 2023, 12:07:15 AM

How to stop that kind of scam? And what is the proper way to save the Newbie from the honeypot?[/i]

If you can't make proper analysis of cryptocurrencies in order to reach a conclusion of which of them you should acquire and hold, just invest in bitcoin. It's the surest alternative among all cryptos disponible on this market. You don't have to worry about the coin's legitimacy, development and potential, because all these aspects have already passed successfully the test of time. That is the only way to save yourself from scams, without further knowledge of cryptocurrencies.

posi

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Quote from: savetheFORUM on January 28, 2023, 11:15:21 AM

Quote from: Solosanz on January 28, 2023, 12:21:21 AM

If you and everyone want to stop this scam, just avoid any altcoins listed on CMC or Coingecko and only stick with Bitcoin. When there's no one buy the coin and everyone already lost hope in shitcoin, the developer wouldn't create new coin since it just wasting his time and he wouldn't get anything.

Why are you using terms like ""the developer"" and ""wasting his time"" as if it's a single person creating all those millions of coins and tokens? There are different projects, firms and individuals behind all these tokens and coins, and not all of them are scams. ETH, SOL, MATIC, BNB and a lot more. All these are altcoins as well, and they all started from the same place, the bottom, and look where they are today. So it totally depends, and some narrow research could give anyone a slight idea how a project is and how it could be in the future, though nothing is 100% true or guaranteed in this space.

We all know that investing in altcoins offers higher returns than bitcoins but altcoins are too risky, choosing a project becomes extremely difficult so people who don't invest or hate altcoins are considered incapable of research ability and dare not invest in altcoins.
Those who invest early in ETH, BNB, their returns are not inferior to those who invest early in bitcoin. It can be said that the utility of altcoins cannot be compared with bitcoin, but in terms of profitability, it is difficult to say.

TastyChillySauce00

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WP was actually BS and it's not even related to the project anymore. It's better focusing to the execution that is already made. So many developers were doing zero promises. The price of crypto was also unpredictable. You must be careful with this. I meant you shall take a look at the fact that even scam coin can be pumped after it was going dead due to various reasons. Just told those newbies to invest in the coin that is already in top positions of CMC but yeah there's no guarantee if anything can exist forever.
Even some major coins who have placed at the top were still able losing its position like terra luna.

judeafante

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Quote from: Gcrypto786 on January 28, 2023, 12:07:15 AM

Those who are in the crypto space for over 5 years can actually understand the question more clearly than others.

Even a one-year-old investor who reads a lot and can analyze the market situation and condition from the past til now can understand the question, you don't have to be a 5-year experience as an investor, everything is all recorded losses and gains.

Quote

We have seen that from the last 2/3 years, each day new and new coins are introduced in the market and many of those coins claimed that they are depended on actual utility, etc their ICO price is even higher as well when they list the coin on an exchange then the Initial price almost start from $0.5 - $1 or above like EWT/VICA, etc and there are many others, but at the end, their prices dumped to a very low like reached to bottom and some of those coins even disappeared from the exchanges, CMC and even their websites are deleted.

Because they cannot keep up and their utility is not gaining ground and support from the community, because it's outdated and they only target a small portion of the community, it's always been utility but a utility that can benefit the majority.

Quote

On the other hand, we saw there are coins that are considered MEME coins like Doge, and their price are low, everyone can buy them, and also they are still present on the TOP exchanges.
So, the main issue here is that Senior Crypto users/Investors/Trades can predict the price of new coins, read the White Paper and then take decisions regarding investment, but the problem is for the Newbie/New users as they don’t have enough knowledge and can’t be able to predict/analysis the price and at the end, they just lose the investment.
How to stop that kind of scam? And what is the proper way to save the Newbie from the honeypot?

No one can accurately predict the price of the coin, and so-called senior investors many times failed in their prediction even experts, the only way to stop the scam is to only bet or invest coins that have proven their worth in the market and stop investing in pump and dump coins that have no platform attach to it.

samcrypto

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Quote from: tvplus006 on January 28, 2023, 06:10:17 PM

Quote from: Gcrypto786 on January 28, 2023, 12:07:15 AM

...How to stop that kind of scam? And what is the proper way to save the Newbie from the honeypot?

The easiest way is to stay away from all new coins. It is very difficult for a beginner to conduct a comprehensive study of the project, so you may make a mistake when choosing a coin for investment. In this case, you will not be able to buy a new coin at an early stage and, accordingly, there will be no opportunity to get a big profit, but the risk of losing your money will also be lower.

To avoid such project is the solution but since some investors are risk taker, they still buy despite of the uncertainty and depend on their luck on choosing the project. There's no way to predict their future price as they are still new and they are still working with their credentials and trust in the market. If in doubt, better not to participate and buy instead the top coins that already proves a lot in the market, it may not be a guaranteed profit but at least the risk are not that high.

tvplus006

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To the Moon

Quote from: Gcrypto786 on January 28, 2023, 12:07:15 AM

...How to stop that kind of scam? And what is the proper way to save the Newbie from the honeypot?

The easiest way is to stay away from all new coins. It is very difficult for a beginner to conduct a comprehensive study of the project, so you may make a mistake when choosing a coin for investment. In this case, you will not be able to buy a new coin at an early stage and, accordingly, there will be no opportunity to get a big profit, but the risk of losing your money will also be lower.

Yatsan

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For lomg term investment, coins with utility qould be more advisable but that would depend still on the progress of the project whether its utility will be sustainable enough for the coin. Howeber if it is for short term investment, xoins without utility are the ones having high rate of increase especially during bullish market. Each type of token has its own advantage depending on its concept but bottomline is which token will be having more demand on the eyes of the investors since demand will be the determinant of profit in this industry. Some coins from tokens with utility are not even growing through years, so still, no certainty of profit to both with and without utility.

Husires

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Doge is an exceptional case, tell me how many memes rose before it? As for what rose after that, it is a temporary rise due to pumping and unloading, but most of these currencies do not have any value, and therefore they are not an investment.

The best thing I recommend to the forum is not to invest in something that you do not understand, and therefore understand cryptocurrencies, buy bitcoin, and understand how the market works, and then make the decision to speculate or not.

There is no rush to buy altcoins when you can buy bitcoins.

savetheFORUM

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Quote from: Solosanz on January 28, 2023, 12:21:21 AM

If you and everyone want to stop this scam, just avoid any altcoins listed on CMC or Coingecko and only stick with Bitcoin. When there's no one buy the coin and everyone already lost hope in shitcoin, the developer wouldn't create new coin since it just wasting his time and he wouldn't get anything.

Why are you using terms like ""the developer"" and ""wasting his time"" as if it's a single person creating all those millions of coins and tokens? There are different projects, firms and individuals behind all these tokens and coins, and not all of them are scams. ETH, SOL, MATIC, BNB and a lot more. All these are altcoins as well, and they all started from the same place, the bottom, and look where they are today. So it totally depends, and some narrow research could give anyone a slight idea how a project is and how it could be in the future, though nothing is 100% true or guaranteed in this space.

Eureka_07

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Quote from: Gcrypto786 on January 28, 2023, 12:07:15 AM

In the past, I traded big numbers of useless coins. All of them dropped to almost zero from their various launched prices. Some of there are set to be expensive some are not. Regardless, even the most expensive shitcoins eventually reached the bottom zero. I have seen it with my own eyes, mostly on trading platforms that supports these coins without any utilities. Until then, I care no more with these kind of coins.
If I were you, I'll keep my distance out of them, unless you have solid trading plans.

Z390

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For me I will go for hype to maximize my return of investment, there are many crypto projects that's that pumped not because of the problems they solve in crypto space but because of the hype surrounding the projects, this is also why many old projects never reach their all time high again because there is no hype anymore, now we have Artificial intelligence hype which will probably be the most focus area in the next bull market.

Year's back is was DeFi, NFTs, Meme, Gaming etc, always expect a new narrative, that's the key to making better gains in this market. Do not get me wrong, all these have their utilities but the hype makes them the right target for bigger money.

cryptoaddictchie

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The title really speaks a lot. Of course the coin with utility has an advantage over those display tokens with only hype as parameter for pumping. Newbies should learn it cause in the past most ICO doesnt have a utility but gain so much hype and thats because of community, influence and marketing. We cant blame them to jump the bandwagon especially many CTs are good to lure newbies with their words and simple but attractive marketing approach.

noorman0

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[Nope]No hype delivers more than hope

As long as the utility function is not fully operational, there is no guideline for predicting how high prices will move. But most of the ads offering new investment coins these days are giving more visibility to their partner list. This seems to have become a quick research standard for most new investors, but in reality it is difficult to find investors who can look deeper into the project. Even in long term goals, that should not be the only consideration of feasibility and certainly not a recommendation from a "senior" investor.

tranthidung

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Utility is one of important components for success of a coin or a token. However, it is not a biggest or only decisive component and it must interact with other components to make value and success for a coin / token.

Without utility, it has zero value and zero price on market, zero trading volume too.

With utility, let's see other factors like tokenomics and security that are very important. With a broken tokenomics like GameFi projects, tokens will be dumped by gamers very easily and it is not good for token value and price on market.

With bad security, projects and their treasuries, smart contracts can be hacked, compromised and consequently, tokens can be over minted by hackers than dumped on market. It's not good for token price.

Solosanz

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Quote from: Gcrypto786 on January 28, 2023, 12:07:15 AM

So, the main issue here is that Senior Crypto users/Investors/Trades can predict the price of new coins, read the White Paper and then take decisions regarding investment, but the problem is for the Newbie/New users as they don’t have enough knowledge and can’t be able to predict/analysis the price and at the end, they just lose the investment.
How to stop that kind of scam? And what is the proper way to save the Newbie from the honeypot?

Senior crypto enthusiast, investors, and traders doesn't have 100% guarantees they can predict the price of new coins.

Actually everyone can read the whitepaper and there's nothing new from each project to other project, it's start from the general fake goals of the project, praising their coin over Bitcoin, promise to give a higher APY among other cryptos and the last they will create similar roadmap, token characteristic, funding, fake utility etc.

If you and everyone want to stop this scam, just avoid any altcoins listed on CMC or Coingecko and only stick with Bitcoin. When there's no one buy the coin and everyone already lost hope in shitcoin, the developer wouldn't create new coin since it just wasting his time and he wouldn't get anything.

Gcrypto786

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Those who are in the crypto space for over 5 years can actually understand the question more clearly than others.
We have seen that from the last 2/3 years, each day new and new coins are introduced in the market and many of those coins claimed that they are depended on actual utility, etc their ICO price is even higher as well when they list the coin on an exchange then the Initial price almost start from $0.5 - $1 or above like EWT/VICA, etc and there are many others, but at the end, their prices dumped to a very low like reached to bottom and some of those coins even disappeared from the exchanges, CMC and even their websites are deleted.
On the other hand, we saw there are coins that are considered MEME coins like Doge, and their price are low, everyone can buy them, and also they are still present on the TOP exchanges.
So, the main issue here is that Senior Crypto users/Investors/Trades can predict the price of new coins, read the White Paper and then take decisions regarding investment, but the problem is for the Newbie/New users as they don’t have enough knowledge and can’t be able to predict/analysis the price and at the end, they just lose the investment.
How to stop that kind of scam? And what is the proper way to save the Newbie from the honeypot?

Topic: Coin with Utility or Coin without any Utility? (Read 156 times)