Don't lock your tokens away | Bitcointalksearch.org

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

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Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

That is a valid point, there are certain coins in my old wallet where they changed to a new chain and i failed to look at their update after the last correction and only after a few years i came to know that some of the coins i am holding changed to a new chain and when i asked about migrating it to the new chain, they claim that the swapping options is not available. It would call them as a scam as i hold the old coins because i invested money in them and then to take a decision that the coins i invested did not have any valuation and i cannot claim the new chain is ridiculous and once i debated in the official chat they will ban you.

Cling18

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on a separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin.

I was too unfortunate to have had this kind of experience before where I held a certain coin for a long time without checking its developments. I haven't checked their channels and social media platforms so I wasn't updated. I learned that holding for the long term isn't just holding in time but rather holding while getting updates about it so you'll know if it's about time to sell.

budz0425

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

I agree with this statement, sometimes if you missed checking the project community a lot of things happen. this happens to my friend he is unaware that his token project that he's holding changed the mainnet.
be active in the community to stay updated.

Reid

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do they? I thought they are just playing around and trying to mimic the ICO history where investors tried to shoot for the moon in just a small amount of time. Ended up as mostly scam projects.

Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

Indeed that is right. You can keep holding it but be refreshed with the new things about the project/coin you are holding. I think those coins that also created their own soft wallets should not be doing any swaps or if they, the investor should not have a problem if he miss it especially if they are promoting to hold the coins for a longer period of time.

kaya11

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

I remembered one token that have value whenever I open my wallet for bounty stakes. After that the token was invaluable because they moved to their main network, it was 800 dollars back then, but now it is worth nothing. So this is somehow true, there are others too, I just can't remember them because I change wallet address frequently especially when joining bounties.
As for the case of investors, or people who buy them. It should be known already to them that they track their coins, inch by inch. Joining their channel and community. They are putting their money on the line, so better be serious about it.

Saisher

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

I only HODL Bitcoin but on other coins or tokens, I keep a watch if they are developing or not and I am quick to dump if they do not deliver to my expectation or they are having a hard time with their platform being accepted by the community, we should not have loyalty to tokens that are not in the top 20 or new coins, it's very tempting to invest in a new coin but there's a lot of risks compared to those top coins in the market.

pawanjain

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

You are right, this is why we need to stay active in the community. HODL doesn't mean we shouldn't check on the activity of the project.
If the project requires swapping of tokens then it will definitely be a loss for us if we don't do it within the specified time.
I have faced a similar thing when I had to swap the LEND tokens into AAVE. I had done the swapping almost after a year it was first announced.
I was fortunate enough to receive the AAVE tokens but the cost of swapping was relatively high when compared to when it was first announced.

Similarly, I had some Eidoo tokens as well which I was HODLing for some years but the price of it kept on going low year after year.
So holding for a very long time is also not good sometimes (Not applicable to bitcoin Grin

).

StormHawk

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It's hard, many find it easier to hold coins without checking on them, it's a good strategy of getting your mind off the coins or tokens, there is one way to avoid this and that is to buy coins not tokens, they don't need to switch to another new smart contract, buy NEO, ETH and other coins that aren't token then you will be fine locking them away for a long time.

mbakruroh

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

Holding tokens is not wrong, but we must be able to choose tokens that have potential. The blockchain token or source from the exchange platform I think the opportunity for that price increase. But it is not uncommon for tokens from exchange platforms to experience scams, so we need to be careful before investing.

Moeda

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

In crypto investing we always think of high profits over a long period of time, so most of us fail by holding certain tokens. I am also holding some tokens, but not getting any results despite the massive bullrun going on a few months ago. Would it be better if we hold the top 100 coins, if we want to hold for the long term.

danherbias07

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Yeah, like check it at least every month or a couple. I have one in ERC20 that was swapped to 1000:1 and I didn't even notice it.
After checking in, I was surprised they are now in the BSC network also. Thankfully, the swap was automatic and all holders doesn't have to do anything.
But how about those who are using a hard wallet to keep their tokens. Mine was saved because it was in MEW.
Checking the portfolio and their updates in telegram, discord or social media pages might be tiring but it has to be done.

AnonBitCoiner

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Yes this is true. Beacuse of Binance smart chain new rules almost every contract has been changed to new one.
We experience many contract change because of hack also like Easyfi,Dego.
Long term Holder should be active and follow project Twitter and notification should be on. If any kind of matter appear then he not loss it.

rahmad2nd

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

You was true and I am victim from long term lock my token and right now have lower price, better keep using stop loss limit with 5% until 10% loss than have to be long term holder without increasing profit in daily day. I have decision for my self next time never have any holding again with my assets and always sell or cut loss if price drop, I can get other chance with recovery my assets back with cut loss but keep holding for long term will make us confused what have to do after funds stuck on altcoin have lower price.

Gozie51

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Quote from: Taskford on March 04, 2022, 08:56:19 AM

Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

This is why we need to be active on the channels of the tokens we bought since over the years there are constant changes and token swap is mostly happen when the dev decide to update their project. So if you are inactive and miss this on the deadline set by devs then like what you encounter other will also suffer from this since your hodl money will get 0 value for holding to much and missing the updates.

Also don't hodl new tokens dump them and buy agaim we can either repeat this process or totally dump it then move to another better project which can give us huge profit again.

OP is correct and not far from the point. You can't just be active on bounty you participated for two years and above yet tokens not released to you and within the time it was released, they change address or run mainnet or run separate blockchain, asking for KYC and at the end you miss out. I think it is better to sell when you receive because hodling it longer, the team may decide anything funny about the token and if you are not aware, you just hodl a bunch of useless units of token in your wallet. I now see why some hodlers will dump tokens as soon as it was received, only few projects have continued from whitepaper.

kojektea

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

Some of the traders who want to get rich immediately do this.
They purposely lock their tokens in their wallets without any targets to sell them, even though the tokens they hold initially
rose high during the bull market, there will definitely be a decline after that.
Panic will only make them regret, I have experienced this many times, you are right about that.

Ryu_Ar1

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Because indeed for Tokens I feel that this is not good enough if it is done for a longer term and only for a short period of time may be good for them.
Because indeed for tokens the risk is greater than coins and we don't know whether the plans made by develop will run for the long term or only for a while

bitgolden

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People who think that their coin could be a lot better if they ended up trading, are people who are either veteran traders, or people who have no idea about crypto. If you are locking your crypto down and waiting for it to go up a lot, then unless you picked some bad coin, then you are going to profit from it.

For example, all through the 2020-2021-2022 period, many coins broke over their previous ATH, but XRP failed to do that. Which means that it was a bad coin to hold at the very best, and a horrible one to ever own to say the least. So unless you pick something like that, holding for long term means that you will make a good profit for sure.

Rocky993

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Many new big projects will come in the market in hype and will pump on the other side but if it is not in the interest of anyone in the market then it will be gradually removed from the market and they will have no sign in the market. Where there is an appreciation of old things, everyone has big projects like the old ones, they will always have an equal fund with security. All the old projects like - BTC, ETH, BNB, these projects perform well in the market from time to time with their strong base.

aioc

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

The only coin worth HODLING is Bitcoin, all the others have risks attached to it I almost loss some of the coins/tokens I received and invested, you have to follow the development of the coin or token in your portfolio in the market and their platform, be always ready to dump if you don't see any improvement don't establish emotional on your portfolio unless they establish their status and reputation in the market.

NewRanger

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Quote from: kentrolla on March 05, 2022, 04:39:50 PM

It's must to stay updated and active on the communication channels of the particular token which we invest into because we have seen some coins have changed the chain or even relaunched themselves with new names ~

It's better to stay active on telegram groups of the particular token. As an investor or someone who is hodling the tokens it's a must to stay updated on all sort of news and updates about the token's performance as well to avoid being scammed as well. I would say don't lock any tokens for an extended period of time.

it is be obligation for us as investors, never leave telegram channel that give us important update about project developtment especialy token swap . personally i see alot miss this swap and blame dev team meanwhile its be their own mistake. our coin be worthless if could not swapped anymore.

Quote from: DevFile90 on March 05, 2022, 01:38:04 PM

You might miss some good opportunities if you hold your coins without constantly following it's updates, ATH can happen at any time it doesn't have to be in bull season for that to happen, also there are coins that lose value until there is no more volume and liquidity available, you don't want to get caught in that web.

information be main assets in crypto market, our assets value depend on this, we will know positive and negative sentiment by following update from dev team and global market condition.

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