Don't buy altcoins because they are top altcoins

nimogsm

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Quote from: Freddie Boyer on November 29, 2023, 04:55:43 AM

Quote from: Sophokles on November 19, 2023, 03:04:09 AM

ETH and xrp are some consistent performer till now and I am expecting big from those two from the next bull season as well. Altcoin ranking is ever changing but if you are holding alts from top 100 then I think you will still have time to exit from the market if anything goes wrong with your project. Altcoin is not for long term holding. You made profit from a altcoin forget about it if it's not doing well in terms of development.

True and it can always happen that Altcoin Ratings change in terms of ranking. Well, interesting and what about DOGE? does that apply too? The future potential feels like Doge will go to $1 quickly because the highest price is only $0.73, a difference of $0.27 to get out of that price.

for the future potential, doge should be used somewhere en masse, be it payment for some services or simply as a tool for payment. At the moment, this is another speculative instrument that is very dependent on Elon Musk, since only his tweets can cause price fluctuations and this is not very good actually. Now the community has little need for an old leader who can raise interest in the project again.

oktana

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Quote from: JeffBrad12 on November 29, 2023, 07:04:08 PM

Quote from: oktana on November 23, 2023, 07:41:03 PM

I think this is based on the use case of the coin involved. If the use case isn’t really moving or being noticed, the project will definitely die off because something more attractive and popular and probably with even better use case has come. If we look at Ethereum, we can see why it is never coming down or going to hell like the FTT, etc. Ethereum is a power house, so many platforms are built on it so many tokens are on the same blockchain, yet the token is needed for transaction fee. That’s just more than enough use case. Tells a lot about how long Ethereum Blockchain as a whole can stay.

ethereum undoubtedly has the most used utility right now, the transaction fee alone already speaks a lot about the real utility that ethereum is having. even there are so many L1 blockchain that inherit their underlying system from EVM with a little of modification and succeeds gathering millions of dollars investment easily.
Ethereum is truly revolutionizing with its feature honestly the smart contract is just too good.
this is the case with altcoin that have real utility, its time less, doesn't matter at what time it is maybe few decades into the future we would still see ethereum getting valued high because the upgrade keeps rolling out and the demands will definitely persists.

Regarding the transaction fee: Unfortunately, the transaction fee is the reason why I started disliking Ethereum as a whole. I’m not saying I don’t/won’t invest in it, but I miss the days when transaction fee was little to nothing. Back then when people were still discovering more about smart contracts. Well, I like to choose BNB over ethereum when it comes to transaction fees. However, I respect both projects as I totally understand they are all unique in their own different ways.

JeffBrad12

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Quote from: oktana on November 23, 2023, 07:41:03 PM

I think this is based on the use case of the coin involved. If the use case isn’t really moving or being noticed, the project will definitely die off because something more attractive and popular and probably with even better use case has come. If we look at Ethereum, we can see why it is never coming down or going to hell like the FTT, etc. Ethereum is a power house, so many platforms are built on it so many tokens are on the same blockchain, yet the token is needed for transaction fee. That’s just more than enough use case. Tells a lot about how long Ethereum Blockchain as a whole can stay.

ethereum undoubtedly has the most used utility right now, the transaction fee alone already speaks a lot about the real utility that ethereum is having. even there are so many L1 blockchain that inherit their underlying system from EVM with a little of modification and succeeds gathering millions of dollars investment easily.
Ethereum is truly revolutionizing with its feature honestly the smart contract is just too good.
this is the case with altcoin that have real utility, its time less, doesn't matter at what time it is maybe few decades into the future we would still see ethereum getting valued high because the upgrade keeps rolling out and the demands will definitely persists.

Bushdark

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Quote from: Freddie Boyer on November 29, 2023, 04:55:43 AM

Quote from: Sophokles on November 19, 2023, 03:04:09 AM

ETH and xrp are some consistent performer till now and I am expecting big from those two from the next bull season as well. Altcoin ranking is ever changing but if you are holding alts from top 100 then I think you will still have time to exit from the market if anything goes wrong with your project. Altcoin is not for long term holding. You made profit from a altcoin forget about it if it's not doing well in terms of development.

True and it can always happen that Altcoin Ratings change in terms of ranking. Well, interesting and what about DOGE? does that apply too? The future potential feels like Doge will go to $1 quickly because the highest price is only $0.73, a difference of $0.27 to get out of that price.

Buying atcoins because they are at the top is not always a good move because they could be at the top and suddenly start depreciatimg price. It is good when we buy coin when the price is low and have not moved far especially if the coin is a promising coin.
Crypto market is large and there arf different coins we can buy and hold waiting for the price of Bitcoin to skyrocket before we can start seeing huge movement in price of different projects..

Fredomago

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Quote from: Freddie Boyer on November 29, 2023, 04:55:43 AM

Quote from: Sophokles on November 19, 2023, 03:04:09 AM

ETH and xrp are some consistent performer till now and I am expecting big from those two from the next bull season as well. Altcoin ranking is ever changing but if you are holding alts from top 100 then I think you will still have time to exit from the market if anything goes wrong with your project. Altcoin is not for long term holding. You made profit from a altcoin forget about it if it's not doing well in terms of development.

True and it can always happen that Altcoin Ratings change in terms of ranking. Well, interesting and what about DOGE? does that apply too? The future potential feels like Doge will go to $1 quickly because the highest price is only $0.73, a difference of $0.27 to get out of that price.

Not by far if Elon will play again with his dog, for now it's a big risk for someone who can't wait as chances to pump or dump is always around, if your timing is not right expect that you will lose a lot while if you have that long patience chances to win and earn more would be for you as your rewards.

You can take whatever investment or whatever coin/s you think will pump, just put in some good effort to research and analyze the potential so you can extend your patience and wait.

Freddie Boyer

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Quote from: Sophokles on November 19, 2023, 03:04:09 AM

ETH and xrp are some consistent performer till now and I am expecting big from those two from the next bull season as well. Altcoin ranking is ever changing but if you are holding alts from top 100 then I think you will still have time to exit from the market if anything goes wrong with your project. Altcoin is not for long term holding. You made profit from a altcoin forget about it if it's not doing well in terms of development.

True and it can always happen that Altcoin Ratings change in terms of ranking. Well, interesting and what about DOGE? does that apply too? The future potential feels like Doge will go to $1 quickly because the highest price is only $0.73, a difference of $0.27 to get out of that price.

johnsaributua

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Quote from: oktana on November 23, 2023, 07:41:03 PM

I think this is based on the use case of the coin involved. If the use case isn’t really moving or being noticed, the project will definitely die off because something more attractive and popular and probably with even better use case has come. If we look at Ethereum, we can see why it is never coming down or going to hell like the FTT, etc. Ethereum is a power house, so many platforms are built on it so many tokens are on the same blockchain, yet the token is needed for transaction fee. That’s just more than enough use case. Tells a lot about how long Ethereum Blockchain as a whole can stay.

ethreum has strong fundamentals, I agree with you that if an altcoin has a function that many people need, including large companies also keep it, it will continue to be used even though the gas fee is expensive, as cheap as gwei is still not comparable to other altcoins such as bnb, even the transaction density has not decreased. ethreum is proof of dev's success that altcoins are able to be considered for transactions, even refined with several hardforks such as Ethereum Classic (ETC), almost every day I see in the telegram channel about a project, there are people who use ethreum as their ride network, that the new oracle belief about ethreum is still in great demand even though ethreum is one of the most expensive altcoins. especially those who often use fluctuating ethreum are not an obstacle to using ethreum.

oktana

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I think this is based on the use case of the coin involved. If the use case isn’t really moving or being noticed, the project will definitely die off because something more attractive and popular and probably with even better use case has come. If we look at Ethereum, we can see why it is never coming down or going to hell like the FTT, etc. Ethereum is a power house, so many platforms are built on it so many tokens are on the same blockchain, yet the token is needed for transaction fee. That’s just more than enough use case. Tells a lot about how long Ethereum Blockchain as a whole can stay.

martinex

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Quote from: AnonBitCoiner on November 23, 2023, 09:54:43 AM

Ethereum is good option because as success the bitcoin attained same is with the case of Ethereum. Although it is an altcoin but Ethereum show a better achievement in less time and is totally different because altcoins which are originated sometimes loss its value but Ethereum is getting more important day by day but didn't reduce value. Staying for prolong timing is a key to achievement but if someone lack the exact knowledge of holding then I think he should first realize about holding. Top altcoins are successful so in my opinion we should always prefer top altcoins but newly originated altcoins are difficult for giving you profit.

Even though Ethereum seems expensive compared to other altcoints, it is high quality. Yes. I love ETH and it's my no. 2 favorite after BTC. So, from the historical snapshot attached the OP describes his journey. So, even though the average selection of asti people varies for the top 10 positions, at least we are in it.

AnonBitCoiner

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Quote from: Bushdark on November 19, 2023, 06:54:39 AM

Ethereum is a good project and we can also make good profits from it like some other reliable project that have good Community and plans. For us to make profits from the market, we must know when we invest and when to leave the market and take our profits.
This is one of the mistakes many investors and traders make that keep them with loses. We don't know to stay too long in the market when we kmhave no full trust on the project we are holding. It is better to sell and take profit than to leave it to crash and lose.

Ethereum is good option because as success the bitcoin attained same is with the case of Ethereum. Although it is an altcoin but Ethereum show a better achievement in less time and is totally different because altcoins which are originated sometimes loss its value but Ethereum is getting more important day by day but didn't reduce value. Staying for prolong timing is a key to achievement but if someone lack the exact knowledge of holding then I think he should first realize about holding. Top altcoins are successful so in my opinion we should always prefer top altcoins but newly originated altcoins are difficult for giving you profit.

el kaka22

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^I do believe that bitcoin is the king, I do like it and that's why most of my money is in bitcoin. That doesn't mean I do not like taking risks, I do invest into ETH and BNB and LTC as well, those three are the majority I have in alts, I do not have much other else, some chump change in here and there with some tokens but the total of all of them must be under 100 dollars to be fair, so nothing major.

Most of the money is in bitcoin and the other three coins, that's 99% of my portfolio, and 50%+ of it is in bitcoin so even the other alts are not that much. I realize that bitcoin is the best one and I invest accordingly, but I also take my time to learn what's going on and what I can do about it and how I can get it to improve in the end. There are a lot of people who do not understand how they should approach it, they think that sticking with just bitcoin is good enough, or going with crazy coins would be more profitable, I believe I am the middle ground and more reasonable.

Bushdark

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Quote from: Sophokles on November 19, 2023, 03:04:09 AM

ETH and xrp are some consistent performer till now and I am expecting big from those two from the next bull season as well. Altcoin ranking is ever changing but if you are holding alts from top 100 then I think you will still have time to exit from the market if anything goes wrong with your project. Altcoin is not for long term holding. You made profit from a altcoin forget about it if it's not doing well in terms of development.

Ethereum is a good project and we can also make good profits from it like some other reliable project that have good Community and plans. For us to make profits from the market, we must know when we invest and when to leave the market and take our profits.
This is one of the mistakes many investors and traders make that keep them with loses. We don't know to stay too long in the market when we kmhave no full trust on the project we are holding. It is better to sell and take profit than to leave it to crash and lose.

Samlucky O

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That is definitely true. Buying altcoin due to hype or top in Crypto market, could get you in trouble. I could remember when Luna coin crashed I was a victim of it I had som money invested on it but wasn't a lot though. But I was shocked and think that it was a network glich or an error in my wallet but when I went to coingecho to check, to my greatest suprise it was same as that on my wallet I was astonished and started thinking that had it been I invested more than this, probably I would just be financial bankrupt. So investing on altcoin should be done with caution.

Sophokles

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ETH and xrp are some consistent performer till now and I am expecting big from those two from the next bull season as well. Altcoin ranking is ever changing but if you are holding alts from top 100 then I think you will still have time to exit from the market if anything goes wrong with your project. Altcoin is not for long term holding. You made profit from a altcoin forget about it if it's not doing well in terms of development.

justdimin

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Quote from: huu78 on November 16, 2023, 02:01:49 AM

So what I want to emphasize here is that projects that have no development or are stuck without any new progress will not last long, because in crypto which is still new, every year development will continue to occur, so projects that do not have innovation will be left behind.

Agree for those who don't have a development but not really for those who only get stuck, as that can happen to almost anyone and it does not mean that all of them will remain like that but many are also brainstorming if how can they get out of it and what can they do next to keep the fire burning. Cryptos in general are not new because the first crypto BTC, started in 2009.

But, there are so many new cryptos that are still being created from time to time. Developments can differ from project to project. We can refer to their road maps for this. While if you mean the development of the overall crypto, sometimes it can happen earlier or later than a year.

Dr.Bitcoin_Strange

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Quote from: huu78 on November 16, 2023, 02:01:49 AM

So what I want to emphasize here is that projects that have no development or are stuck without any new progress will not last long, because in crypto which is still new, every year development will continue to occur, so projects that do not have innovation will be left behind.

Yes, you are right, but another thing is that some projects can actually be doing well and improving in their service and road map, but that's not really a guarantee that the project will not fail and investors funds will just go to waste. There was one project I came across in 2021, and when I saw this project on Twitter, they had not yet listed their coins on any exchange. They were doing some airdrops to promote the coin, and they were also developing the project according to their road map; they even had to burn some of their tokens. Despite all that, investors just kept buying the coin, and those project owners made some millions of dollars from people's invested funds, and lastly, they disappeared towards the period during which they promised they were going to list the coin on the exchange.

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Quote from: abralzain17 on April 12, 2023, 07:29:51 PM

the top position occupied by an altcoin will not guarantee that it is a quality or good altcoin, it is possible that the altcoin's ranking on Cmc is in the top ranking due to the hype of having large trading volume, but only at certain times.
well, therefore to invest in Altcoins it is very important to do research and analysis so as not to fall for the Hype and ranking obtained by an Altcoin.

I don't even suggest for people to buy top coin because we might not be able to make good profits from such projects. Those people that had invested in the early stage might have made a lot of profits already while investing at the top is good but not advisable. We might not make good profits from such profits. It is good when we invest in altcoins at the early stage so that we can utilize the profits. We need to understand that investing in the Crypto market is very risky but if we are ready to take risks then making profits from the altcoins market can be very fortunate for us.

batang_bitcoin

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Quote from: huu78 on November 16, 2023, 02:01:49 AM

So what I want to emphasize here is that projects that have no development or are stuck without any new progress will not last long

Leave those projects that have no progress at all. You get nothing from there but if you do, it's just all about taking profits.

Quote from: huu78 on November 16, 2023, 02:01:49 AM

because in crypto which is still new, every year development will continue to occur, so projects that do not have innovation will be left behind.

Many of the new projects are active in development but you see them delay or becomes slow in the midst of their development. And that happens when they seem to reach their first goals of having investors on their back but then, they're breaking their expectations.

huu78

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So what I want to emphasize here is that projects that have no development or are stuck without any new progress will not last long, because in crypto which is still new, every year development will continue to occur, so projects that do not have innovation will be left behind.

electronicash

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Quote from: icalical on November 15, 2023, 08:30:47 AM

Sure, buying altcoins just because it's the top marketcap on Coinmarketcap is not right, but with millions of altcoins that currently on the crypto market, how could we narrow down the options? do we need to research on those millions altcoins? Who has the time for that?

Those rank on Coinmarketcap could be use for a filter, get into any investment just because of a single reason is dumb, we need to do a very deep research if we want to spend our money on any investment.

there are few that still maintains their status as ranked coin though XRP and ADA seem to have kept their position among the top coins on CMC. the one that is unbelievable is the dogecoin which was nowhere to be found since 2013 but suddenly arose there on top in 2020. but its also true that top coins back then are dropping like they do have an unsustainable ecosystem. i remember holding a lot of bitshares.

looking at the first page, WorldCoin already exists since 2013? this is the project that scans the iris of the mall goers. the plan to enslave the world started way back. Grin

Topic: Don't buy altcoins because they are top altcoins (Read 1320 times)