Well, short answer to why i turned was this thread. I was invested right when Zens came out and got into them a lot, after i bought 2 war machine from them. At that time seemed like this company was good, and got my products, so why wouldn't their cloud mining work, it was paying the best. right? Well i was already in and in denial but obviously payouts started to suck badly. Not just bad, but really bad. Worst than normal on my home miner mining wafflepool, so compared the hashes didn't add up. But they explained the electric, okay, so I figured yeah, things are in a downturn might be somewhat legit.
Well more and more things didn't add up, but I was committed at that point, and invested. I'm still in hashstakers as we really didn't have a choice. For my coins, I've sold all they have converted already.
The biggest eye opening moment was the said in their podcast about showing the walk around of their location in Mississippi. First off why Mississippi? If it's there really, fine, but horrible location for a mining farm with heat. But anyways, when they showed that camera view of the one row, fuzzy at best and then no walk around, dimmed lights. It was my oh shit moment. This might be totally shady.
Did more and more reading here, and so much bs, been in cryptos awhile so really shouldn't have fell for this crap, but I know others that have been in cryptos long time too eating this bs up right now. No use telling them differently, even offering to pay for for my coins cause they will be worth $20 bucks.
The PANIC moment for me was the browser extention app, which will let you buy stuff through an app, when all along we kept hearing mega companies on board, 100 million financing, and paybase which looks to not even have proper legal work to run yet if dealing with finances. That app freaked me out as I had a lot invested, and realized i needed to get out asap.
I sold all my coins for 6-7 bucks and will never regret that even if it's pumped to $20. Why? Cause there is no way they can support a $20 buy wall even with all their funds if people wanna cash out, only perception will keep this coin going. Dogecoin did it, and you know what, they were not a scam, or ponzi, so they deserve being up there, but this coin, wow. It doesn't deserve one satoshit worth of value, it's a mining company coin for a company that barely even mines at all, as we seen from the video they showed us of one row of miners. This was pathetic.
Get out while you can, and invest keep it in bitcoin, something with real innovation like syscoin.
That was my reasonings for dumping, but it's not over, i have a lot of hashstakers to sell still. Wish me luck guys.
I went through a lot of the same emotions at the same time as you did, so I understand your decision. I sold half my primes to play it safe. Granted I bought Zens and solos to mine more coupons later on, but whatever.
Why do you say to get out now? You played it safe and lost out so you want everyone else to?
I did buy syscoin and it went to shit. People here bash XPY's launch but compare it to syscoin. Which was better? Which made more money regardless of GAW owned assets like cash takers?
Regardless, I hope you can sell your stakers for a good markup. With the stake rate out there (and high) you should have a good chance to do so. I have about 150 I want to sell as well.
Well why would you openly support a ponzi? I support real coins, syscoin being one of them. IF you haven't looked into it they are doing a lot, and most will be on alpha blockmarket (first ever, EVER, to do this) next week. They got scammed, didn't scam people. Big difference and they never stopped developing, a real coin I say. I also support Bitcoin, the first coin. Only two other coins that are not shitcoins are litecoin and dogecoin.
I've been in this altcoin stuff for over a year, and really isn't much else that what I mentioned, maybe coins like peercoin for just being around so long, and couple others, but it's a game of conartists and scammers. Nobody is seriously developing out there or doing anything except what i mentioned.
If you think gaw miners coin is going to be next best coin, think again. It's a coin based on staking and lies. There is not active mining involved, and selling POS at that to people. Its one big joke.
Only way this coin was worth anything would have been real business acceptance, or innovation. If you don't have one or the other, your a shitcoin, like the rest.