Get rid of those Bags | Bitcointalksearch.org

The Sceptical Chymist

legendary

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Cashback 15%

Quote from: aoluain on August 06, 2018, 08:18:34 AM

a bag is what we refer to when
we buy tokens for some bright new shining project but those tokens turn out to
be tarnished useless things.

If you define "bag" as a token, then I've never been a bagholder. I have never owned one of these ICO tokens--EVER. However I have owned some shitcoins with their own blockchains, but not much. I do think that people who've been here one year or less have indeed been bagholders, since a lot of them are bounty hunters who earn through tokens and they wind up owning some of the worst garbage known to man. Sadly, I think at least some of them believe in these crappy projects and think those tokens are going to the moon. Soon after those tokens go to market, they get a good taste of reality.

What I'm wondering is when the ICO market is going to fizzle out. I'm not entirely sure that'll be a great thing for the crypto community as a whole, but I'm pretty sure it's going to happen if projects keep coming to market without any real innovation and no real value. From what I've seen and with my limited knowledge, these developers continually try to crowbar blockchain solutions onto "problems" that won't benefit from them. They do it because they know suckers will buy the tokens, and only when those suckers wise up and stop buying them will we stop seeing so many of these "bagholders".

BitHodler

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Quote from: aoluain on August 07, 2018, 04:21:01 PM

Since i started this thread I have been considering the effects on the market
if all the useless bags of coins were transferred back into Bitcoin.
How much bitcoin is potentially out there in the form of useless coins?

It's impossible for people to completely convert their shitcoins to Bitcoins due to the lack of supply. I read an article last year where blockchain analysis pointed out that around 2 million BTC is used for altcoin trading.

Those who manage to convert to Bitcoin will decrease the BTC/alt ratio significantly, which directly forces people to sell down the fiat pairs, otherwise the already near worthless shitcoins will become worth even less.

The majority of the people trade or invest in altcoins because they want to end up with more Bitcoin. This once again shows that there is little faith in altcoins, and that will break them eventually.

I am of believe that we'll only see a handful of our current coins survive in the next 5-10 years.

Mahanton

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Quote from: aoluain on August 07, 2018, 04:21:01 PM

Since i started this thread I have been considering the effects on the market
if all the useless bags of coins were transferred back into Bitcoin.
How much bitcoin is potentially out there in the form of useless coins?

Theres no such figure yet we dont even have the overall or total of those useless coins. I had already released or sell of my shitcoin bags recently not just only diverting it back in forms of bitcoin but also i do make such decision for the sake of relieving my stress because i cant able to live up everyday on where i do always think up on my shitcoin holdings if i would ever reach to break even or might possibly pump up. There would be always a feeling like that one.

aoluain

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Since i started this thread I have been considering the effects on the market
if all the useless bags of coins were transferred back into Bitcoin.
How much bitcoin is potentially out there in the form of useless coins?

aoluain

legendary

Activity: 2254

Merit: 1256

Lets face it anyone on this forum for over a year has at least 1 bag.

Whats a bag? Some newcomers might ask, well a bag is what we refer to when
we buy tokens for some bright new shining project but those tokens turn out to
be tarnished useless things. We hold the bag of tokens in the hope that one day
that failed project rises from the ashes and becomes the great shining revelation.

We all know deep down that its not going to happen as we see the token value
slide like a long burning candle.

My thoughts are to trade those bags back into the Bitcoin fountain where they can
be shaped back into something which will see a rise in value.

Cut the losses and move on.

Topic: Get rid of those Bags (Read 131 times)