Has AltCoins thought you a hard time lesson before?

Kristiyana

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Eloncoin.org - Mars, here we come!

Quote from: lixer on March 13, 2024, 02:50:32 AM

Quote from: glendall on March 01, 2024, 08:39:30 AM

I once had a difficult time with altcoins, when I first entered the world of crypto, where I didn't have a financial advisor in crypto, but that way I was able to learn to research every coin I was going to invest in, not because of fomo and hype to buy altcoins but how much the great development of altcoins themselves,

The hard lesson that the OP talks about is different from what you are saying there. What you are saying there is a literal lesson, but that is much better and this is why all are advised to be like that (to stand on our own) so that we won't get fooled by other people who claims to be an expert on the same thing that we want to enter. Other than that, it teaches us to be independent, so that we can trade at all times since there are no guarantees that our source will remain as is.

The last benefit would be is like you said, we can avoid to chase the trend or FOMO, although some indie investors and traders can still discover it but at least they can reduce their risk this time.

Though I have not been into crypto for too long, first I started crypto by mining from all this telegram bot I was mining litecoin, dogecoin,zcash,and also Bitcoin cash, I was mining at the range of 0.00001234 then I keep mining till I succeeded in getting 1dogecoin before the site get closed.but as time goes on, that's how I begin to have more knowledge about cryptocurrency.i know a lot of people have bad experience in altcoins, listening to my own part of the story is obvious that altcoins have not thought me a bad lesson either.

lixer

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Quote from: glendall on March 01, 2024, 08:39:30 AM

I once had a difficult time with altcoins, when I first entered the world of crypto, where I didn't have a financial advisor in crypto, but that way I was able to learn to research every coin I was going to invest in, not because of fomo and hype to buy altcoins but how much the great development of altcoins themselves,

The hard lesson that the OP talks about is different from what you are saying there. What you are saying there is a literal lesson, but that is much better and this is why all are advised to be like that (to stand on our own) so that we won't get fooled by other people who claims to be an expert on the same thing that we want to enter. Other than that, it teaches us to be independent, so that we can trade at all times since there are no guarantees that our source will remain as is.

The last benefit would be is like you said, we can avoid to chase the trend or FOMO, although some indie investors and traders can still discover it but at least they can reduce their risk this time.

|MINER|

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Many people have suffered a lot of losses by investing in altcoins. And has a history of losing everything. It was a few days ago that FTX and Luna caused many people to lose a lot of money over a period of time. It is only natural that those who have experienced this loss once investing in Luna will be afraid to invest in altcoins a second time. Your friend may have been a victim of a scam that now makes him afraid to invest in altcoins even after the price has gone up. If you search, you will find many people who can't trust altcoin anymore.

Obim34

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Quote from: kamvreto on March 05, 2024, 04:57:16 PM

Quote from: DeathAngel on March 05, 2024, 03:18:13 PM

I am mostly invested in Bitcoin, literally over 95% of my cryptocurrency holdings. I have, over the years messed with altcoins though of course. I have been taught many hard lessons with altcoins. They are a far less guaranteed thing than Bitcoin. I’ve bought the tops of certain coins & been rug pulled.

It is very painful to accept the reality of having to face the rug on an altcoin that was bought in the belief that it would go up, but in fact would be very detrimental. Now you invest most of your money in Bitcoin, it is the best choice, 95% for Bitcoin and 5% maybe for hype altcoins. But haven't you considered ETH or the top altcoins? that would be better than getting into a new altcoin whose development is unclear.

Having enough funds, it is best to consider diversification of investment since their is very lesser opportunity of making profits from new Altcoins. Invesing all into Altcoins is not a good idea, the bigger portion should go for purchasing Bitcoin, next going for top Altcoins, some memecoins and new Altcoins.

Y3shot

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Things people needs to be very careful with in crypto are altcoins because they are very much risky. Their are so many altcoins in the market some are good but lot of them are not good to hodl because they have no good value. If their is anything one needs to be afraid about cryptocurrency should be the altcoins because many of it are not reliable that you can look up to.

beerlover

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Quote from: God bless u on March 05, 2024, 11:27:39 AM

I think everybody here must have gone through some tragedies in the trading market. Investing in altcoins with high amount of risk and not a deep research is something that almost every newbie does and after having a loss they realise that trading is not that much easy.Then they either quit it or become smarter and wiser with their decisions.

It's not something to be ashamed of but if one doesn't learn from one experience and continues to make mistakes then it's a serious point to ponder. We have to make ourselves realise that we are wrong and then work on ourselves to make the wrongs right.

Trading mistakes can happen that's not really a big deal, as long as you did not get scammed then trading losses are fine. I feel like there are way too many people who gets scammed during this period and that's the most important part, if you can somehow avoid those then you should be considering the situation to be a lot better.

I believe that we can't make it work any other way, and it seems like we are going to end up with a lot more trouble. I feel like it should be something that will take some time, and we can't make it work any other way. I know that altcoins are risky investments, so if you trade some and you end up losing money to it then that's fine we can just assume that it is what we can do, it's just the way it is.

kamvreto

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Quote from: DeathAngel on March 05, 2024, 03:18:13 PM

I am mostly invested in Bitcoin, literally over 95% of my cryptocurrency holdings. I have, over the years messed with altcoins though of course. I have been taught many hard lessons with altcoins. They are a far less guaranteed thing than Bitcoin. I’ve bought the tops of certain coins & been rug pulled.

It is very painful to accept the reality of having to face the rug on an altcoin that was bought in the belief that it would go up, but in fact would be very detrimental. Now you invest most of your money in Bitcoin, it is the best choice, 95% for Bitcoin and 5% maybe for hype altcoins. But haven't you considered ETH or the top altcoins? that would be better than getting into a new altcoin whose development is unclear.

Miles2006

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No experience yet but I have learnt a lot and knowing the common mistakes investors made and learning towards such mistakes with experience helps alot. Not all altcoins will serve as a pump and dump scheme but rather few altcoins are beneficial, altcoin investors usually earn profit like no investor will share his/her experience without talk about the risk and win involved except the investor lacks the habit of making research. The common mistakes I heard about worst experience are mostly investing in a ponzi scheme or rather going for the hype, as an investor making research can help in terms of searching for a good coin.

milewilda

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Quote from: AVE5 on March 01, 2024, 04:05:32 AM

The current increments in the crypto markets got my friend regreted after a hard time he faced last year after investing $1,000 on the AltCoin and he lost it all.
He said he Invested this some of money with his analysis that the AltCoin he invested on would rise but the volatility volume of the coin went south for him where he watched the Coins fluctuating and he felt the situation was one of the volatility potential systems in the crpto currencies.
Like he said, he watches the coins dropped from $1,000 to $8,00-$500 and was expecting it would pump up not til the coin melted to the point of loosing it all.
He said he if he knew it was going to be that way he would had had used the money to buy anything at the rate of $1 for the $1,000 just to make sure he gives achievable account of the coin.
He has decided not to invest on AltCoins again but just of recent he said he wished he had invested in the AltCoins this time due to the attractions of AltCoins as the results of the current bitcoin bull runs.
WHO AMONGST US HAD ALTCOINS THOUGHT A HARD LESSION IN THE PAST.

All of us for sure who do have that kind of learning on which on the time that we do able to experience the worst of times on investing on which there's no way that we could really be able to tell
on where prices would be going on which it would really be that normal that whenever you do make out some selection then it would be understandable that you wouldnt really be able to spot out the right
decision yet there would really be different factors on which it would really be affecting someones decisions and this is something you should really be realizing on the time that you do deal up with this market.
You cant really make those precise predictions and choices due to unpredictability and total randomness of this market.

This is why on the time that you do step your foot into this space, then it would really be always best that you should really be that investing on the amount that you can afford to lose.So that on the time
that things turns out to go south then you wont really be finding yourself that getting too stressed just because the amount you have lost is something that you've been saved
up for too long. There would really be significant differences i should say.

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Quote from: AVE5 on March 01, 2024, 04:05:32 AM

He said he if he knew it was going to be that way he would had had used the money to buy anything at the rate of $1 for the $1,000 just to make sure he gives achievable account of the coin.

In this industry, everyone has got their "Had I known" moment. If you haven't got yours, don't worry you will soon get it (them). It's the baptism you need to gain that experience a lot of us talk about. Some can be very expensive a price to pay while others will be less. In all, we pay for attention and experience.

Quote

He has decided not to invest on AltCoins again but just of recent he said he wished he had invested in the AltCoins this time due to the attractions of AltCoins as the results of the current bitcoin bull runs.

This is a case of stand for something lest you fall for anything. Your friend should go and learn Technical Analysis (TA) and quit trading on guts feeling. It will continue to burn him until he learns the rudiments of Support & Resistance with Demand and Supply zones.

Quote

WHO AMONGST US HAD ALTCOINS THOUGHT A HARD LESSION IN THE PAST.

The lessons aren't from altcoins alone. Bitcoin too has also taught some people hard lessons they may not quickly forget.

Makus

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Quote from: redsun114 on March 05, 2024, 12:03:24 PM

There are still great altcoins out there, so I won't judge them completely and in fact, they also had a big contribution to Bitcoin and to the overall crypto market. There's just people who don't like Bitcoin for some reasons and sadly their decisions may not ever change no matter how hard we convince them.

It's true some person don't like Bitcoin, I've met someone who don't like Bitcoin but after he understood the entire principle of Bitcoin price movement and the concert of limited supply, he became a lover of Bitcoin. I think most of those persons who don't like Bitcoin is because of what they've been told without them carrying out research on Bitcoin network to know what it truly entails, but if such person are given the opportunity to know more about Bitcoin, they'll definitely pick Bitcoin over any other shitcoin or altcoin. While only few just develop hatred for the project. But Bitcoin remains the best coin ever.

DeathAngel

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I am mostly invested in Bitcoin, literally over 95% of my cryptocurrency holdings. I have, over the years messed with altcoins though of course. I have been taught many hard lessons with altcoins. They are a far less guaranteed thing than Bitcoin. I’ve bought the tops of certain coins & been rug pulled.

Yatsan

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I had it with meme coins, in particular with DOGE. I quite got thrilled with the hype which made me invest a huge amount in comparison with my other crypto holdings for years. Unfortunately, a crash happened which really made me suffered from huge temporary loss that time. Good thing is that I never had thought of selling early and just continued holding. Right now meme tokens are on the run and I somehow and thanfully recovered from that loss. However, it still left me with a beginner lesson to not invest an amount which will make me question my decision. The market itself is volatile and what goes up surprisingly will eventually fall. Meme tokens are profitable but more risky in my perspective. As we all know there's no specific usage of most of it and often being manipulated by big investors. If you are into meme coins then that's fine as long as you are able to manage the risk and to avoid not putting a stoploss to safeguard yourself from huge loss.

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Quote from: babygun on March 03, 2024, 10:01:06 PM

I think everyone has made bad calls in the past, even with all the prizes going up like crazy I am still in loss on a bunch of altcoins I bought years ago; on some of them I still have -80% (filecoin, the graph,…). Best call I made was probably buying some ETH when it was at 500$.

I also experienced losses on the hyped Metaverse and meme coin projects in 2022 where at that time I bought SAND, MANA, VRA, Shiba and Doge and hoped they could give me profits of up to hundreds of percent. But what I'm holding right now is a token with a loss of -90%. This is an important lesson for me not to be tempted by altcoins if you are not a trader and want to protect your assets. I'm the same as you. I bought ETH in 2022 for $1,100 and I still hold it to this day. It was my hope to get back the money I lost to those damn altcoins.

redsun114

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Quote from: Makus on March 04, 2024, 09:14:02 AM

Op, the story of your friend is a bit interesting but from what I understand the story is that, your friend is a greedy trader. Though having patience pays alot but when we are not 100% guaranteed that the coin is trust worthy what's the reason to still have faith in the coin when things are going bearish? I don't buy altcoin for holding and that because of instances like this, when I believe in something, I hardly let go and that why I will never cease to adopt Bitcoin more and more. But what I don't get is, after your friend must have left altcoin investment, he should have focused on Bitcoin alone and use all that he has for investment to boost his Bitcoin portfolio, if he had done that, he wouldn't be regretting after seeing the current pump in price of some altcoins, because Bitcoin alone will bring enough profit and satisfaction.

In life, there are no guarantees as they say and so as in investing or trading a crypto. This is why all are only taking a risk here and it's up to you if you will elevate your risk by continuing to HODL longer. You can still be compensated huge, if in case you are right with your decision. Bearish conditions may only be normal and even the best coins can experience it too.

There are still great altcoins out there, so I won't judge them completely and in fact, they also had a big contribution to Bitcoin and to the overall crypto market. There's just people who don't like Bitcoin for some reasons and sadly their decisions may not ever change no matter how hard we convince them.

LogitechMouse

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Quote from: AVE5 on March 01, 2024, 04:05:32 AM

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WHO AMONGST US HAD ALTCOINS THOUGHT A HARD LESSION IN THE PAST.

Well, that story (if it's true) is a roller coaster kind of experience.
He regretted investing in altcoins at first, then he wants to invest in it again. Cheesy

As for me, I can't say it is that hard lesson because I believe experienced way harder than what I experienced, but I guess the hard lesson that I learned is "Don't invest, and hold meme coins for a long time." I didn't get scammed with a huge amount of money in my long time being involved in cryptocurrency, and luckily I didn't get hacked either. It's the meme coins that got me when I tried to invest in some meme coins out there. I didn't expect too much on it because, after all, it's a meme coin, but what I didn't expect is how fast that coin went down since I bought some of it. To cut the story short, I lost almost all of my capital on it (I think I lost around 90%).

Well like I always said, we need to learn from every mistake that we are making especially when it comes to investing. Currently, I don't invest in meme coins because I don't want it, but because we are nearing the bull season, I might invest a few bucks just to ride the hype of it.

God bless u

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I think everybody here must have gone through some tragedies in the trading market. Investing in altcoins with high amount of risk and not a deep research is something that almost every newbie does and after having a loss they realise that trading is not that much easy.Then they either quit it or become smarter and wiser with their decisions.

It's not something to be ashamed of but if one doesn't learn from one experience and continues to make mistakes then it's a serious point to ponder. We have to make ourselves realise that we are wrong and then work on ourselves to make the wrongs right.

avp2306

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Quote from: Natsuu on March 05, 2024, 09:28:45 AM

Quote from: Volimack on March 05, 2024, 09:11:50 AM

Altcoins had a tough time getting started with entering the crypto world. At that time there was very little knowledge of market relations and it was not possible to verify which coins were correct. Altcoins all look good at the beginning after investing it is understood that the scam coins do not rise to the top. Currently there are many good altcoins in the market although they are high risk and give good returns if you keep them for a long time.

Right. Back in the day, Altcoins were a wild ride with not much clarity on what's legit. Scams were everywhere. Now there are some good ones but yeah it's a risky game. Holding for the long haul might pay off but you gotta tread carefully

Even now there's lot of scams keep coming its because some of those scammers know that there are so many people look for new token to invest since they think this can give them big profits that's why we can't see those scams never put at end. Although we can see some of good crypto but there's only few of them and its hard to find to see them. That's why its hard to hold altcoins since we don't know if we can make a profit or we just got break due to uncertain loss that we don't see it to happen.

If you people into altcoins much better for them if they use their brain and common sense to determine on when to sell and accumulate so that they will not join on people got FOMO and can always get a profit once there's a chance to execute our sell orders.

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Quote from: Volimack on March 05, 2024, 09:11:50 AM

Altcoins had a tough time getting started with entering the crypto world. At that time there was very little knowledge of market relations and it was not possible to verify which coins were correct. Altcoins all look good at the beginning after investing it is understood that the scam coins do not rise to the top. Currently there are many good altcoins in the market although they are high risk and give good returns if you keep them for a long time.

Right. Back in the day, Altcoins were a wild ride with not much clarity on what's legit. Scams were everywhere. Now there are some good ones but yeah it's a risky game. Holding for the long haul might pay off but you gotta tread carefully

Volimack

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Altcoins had a tough time getting started with entering the crypto world. At that time there was very little knowledge of market relations and it was not possible to verify which coins were correct. Altcoins all look good at the beginning after investing it is understood that the scam coins do not rise to the top. Currently there are many good altcoins in the market although they are high risk and give good returns if you keep them for a long time.

Topic: Has AltCoins thought you a hard time lesson before? (Read 393 times)