Topic: We failed altcoin!! Altcoin then did the same (Read 552 times)

Altcoins really lack adoption and everyone wants to create their own version of it, the most common reason is to make some big chunk of money, of course, Why not just support and use the existing one right? There are so many altcoins in the market now, which has the same technology and features so much redundant coin that exists I guess supporting one of them is better instead of creating a new one if your goal is really crypto adoption and to spread this technology. That was happening now that is why adoption is slower also with regulation intervention.

Choose the only platforms that already known generated a huge result to the investors. We have a bunch of launchpad that  has given a lot of profit for investors.

Say bye to the scam exchange site and scammer.

that's the only way out.

It possible for altcoin to stuck in thise situation because people just abandoned the real value for the price, for the fake money. I think only few of altcoin can still exist with bitcoin as most people hold. Don't care about new ICO anymore, focus only few of altcoins.

Bitcoin is a cryptocurrency. Being the first one, it has it's share on the market. Whether or not we need other altcoins is a matter of discussion.
Ethereum came with a different approach, though it uses the similar concept, it's a different approach and it's still making changes.
And if another alt is to be success, it needs to offer something new and different. Here is where we failed.

If you are really into it there is no way out but there are some limitations you could do to prevent from having to much into it and loss all of your assets. Like what other poster said the greed has something to do with all the matter why this is happening, if you could control your grees, resist the temptation then you would lessen the burden.

Actually, I only believe in Bitcoin because altcoin is only a tool to make money in this market and you will certainly risk if held for too long. Of course, there are still some good altcoins for you to hold in the long term, but you need to be careful because the market is very volatile and it doesn't always make a profit from altcoins. One way or another, you have to have faith in your investment and never trust others.

 
I do agree with you. How can be normal crypto users or investors are failed altcoin. If a project failed then total blame goes to the project team none others. Projects mainly fail because of not enough fund rising, have not good quality product to impress investors and not gain trust from investors or from the community. Now days projects just raise their fund and go away. So if some one to blame for failed it should be projects team.

This is a simple truth of were we are at today.
You and I are the investors, either ieo, ico or ITO investors

We exchange the tokens between ourselves, and we invested in those Crowdfunding knowing it offers no value.

The question I have is, what is the way out??

I don't think so. It's true that  people would like to prefer Bitcoin than altcoins but that's not means nobody had hodl altcoins at all. So Choosing bitcoin, believe in bitcoin etc those are not only reasons making altcoins down. A lots of Altcoins get down because of cheating & scamming (that's why a major people afraid of hodling altcoins). On the contrary, there are s lots of altcoins still available in market with good position.

The problem is not the greed but some people think if altcoin has become a failed coin while the majority of major coins have come from the altcoin.
I think that we must not think if all altcoins were the same and there was no differentiate between them.

If you have seen the old history of crypto and altcoin is able to reach the bitcoin's level.

you said you are a believer of altcoin so why say all people failed altcoin  ? not only you but there are other altcoin supporters too on this world .

 altcoin cant fail you but people are the ones that make an outcome   but there are altcoins that no matter how people support them they still cant give the same return   . those alts are the ones that are failure for real .    its not yet too late to make a change and we can start anytime of the day but those only to alts that are worth it

Greed when trading is inevitable, but if you control greed, you will certainly succeed in this market. When the market is up, people will certainly be optimistic and prone to fomo, so in any situation you need to think carefully before making a decision. Personally, I always set a stop loss and never trust others.

The problem here is majority of altcoins now are just shitcoins and nothing to offer useful for people.

Those investors who believe in this scheme are only concern for their money to grow regardless of how can they achieve it.

Not all alts failed us because there are alts that has real use case and profitable to invest.

Nobody wants to support a scam altcoins, in fact, there ongoing campaign to report find and destroy these projects that scam investors with money, it's just that some got away doing their deeds because it's hard to caught these developers, and there are projects that look legit but end up scamming people.

Altcoins are usually known for late performing compared to bitcoins. Bitcoin will make a trend and then altcoins will be following it. I completely agree with you that big goals cannot be reached over the night. After the upcoming halving, we can expect bitcoin to enter into full swing bullish mode which will eventually spread over to other coins as well. But, it will definitely take time like we can expect altcoins to be entering full swing  bullish mode only by the end of this year.

Most altcoins are facing negative trend when bitcoin trades positive; it is just for the reason of maintaining same fiat values and I have seen this with many famous altcoins as well. But, all these coins will enter into positive trend when bitcoin trades relatively stable.

You are totally on point buddy! Altcoins failed us, at least most of the altcoins did that! Even still maximum IEO projects are doing the same, after soaring in price, the whole team or one of the team members dumping the coin! Like a few months back who dumped the Matic coin in Binance? Who is dumping Cartesi now? But you see investors trying hard to keep their beliefs on them! Maximum altcoins can't stay strong for 2-3 years, after regular pump dump scheme they left the investors alone! It's altcoins owners that should be changed, we are doing the right thing!

Yes, and that greed will clearly always be there in humans, because in this world there are still so many people who want to get rich quickly and instantly, and the matter of loving Bitcoin seems to only happen in dreams and will never become a reality.

It is difficult for new projects to survive at the moment, investors are not too focused on altcoins because they fear the price will collapse. And it makes new projects have no volume when listed in exchanges, and like you said new current projects need a lot of angel investors or have a great idea to be able to exist

The first failure that occurs starts from ICO project team, many ICO projects aren't alive today because their team run away with investors money, since then ICO trust was ruin and this affects new altcoin projects today, I don't see how we are the ones who failed altcoin here, you need to check the records of past histories of money lost to scam projects on crypto space

if greed persists in humans it will be difficult for us to reach the highest level to rival bitcoin.
sometimes what we believe can betray us.

We are not to blame here, altcoins that offer nothing new to the table are the one to blame for all their mess and failure to succeed, investors and the whole  community are always on the look for the new technology or project to embrace but these altcoins are just pump and dump scheme, that is why many investors are losing their hard earned money.

Some altcoins were getting a very good performance and just because it was being too late to get a pump and it doesn't mean if altcoin has already failed to achieve the target. Everyone must be patient for that.
The goal can't be achieved in one night.

There is sense in what OP wrote, so I partly agree with him. "Partly" because in as much as all investors are interested in making profit, and majority will want to dump fast after token sale, the team members in question most times are not genuine. Most team members roll out updates to dump, for instance I participated in one ICO XENTIMENTUM in the past (now a dead project). Immediately after listing on hotbit, the team kept hyping with product launch and big exchange launch the coming week. That same day, all buy orders were cleared and if you set any fair buy order, they clear it. The instance I gave is to prove that most team members are to be blame for failure of altcoins, not entirely investors.

Altcoin failed investors mate, since 2017 when ICO was here we have many investors that are willing to invest millions on new altcoins, at that year 99% of all ICO raised hardcap or over softcap successful, what a year, but many of them altcoins failed, turned scam or exit scam, we lost lots of investors in crypto space due to this, how did investors failed altcoins??? 

If we can visit the market of altcoins we will understand that most of them are asleep now, this is due to the decline in the number of investors as well as the deterioration of the overall operation of the project. Otherwise for a new project if there are want good investors market then there need must be the highest quality project roadmap and promising activity.

Sure the fall in the price of altcoin is not our fault but sometimes the fall of the price of altcoin is due to a mistake from the developer which might not provide a good development and cannot create a profitable solution so that the conditions fall like that.

I believe you are right, we all encouraged scam altcoins projects simply because we want to benefit from the hypes and were too profit oriented.

Now more scam altcoins have surfaced, more altcoins without usecase has surfaced and its difficult to cry foul.
I am of the opinion that all altcoins failed because the few that did not fail in price, refused to to launch their product until today

Not all of us! There is always a bad seed among others. This speaks for both altcoins and us, investors as well. There is nothing we could do about it when the monetary value always the first thing hook people up instead of the novel goal that altcoin could bring back. Few altcoins take advance of this and become a half ass, failure or scam too so I don't think all faults at us.

I think it is a two way thing actually. But altcoin has really disappointed alot of investors in recent times with the level of scam projects been launched who care more about crowdfunding then dumping the token on investors and disappearing.

not all altcoins like what you said were failed, and there are still many new altcoins that have clear goals and functions about the mission that they really want to achieve

I won't generally say we failed altcoins however I will say altcoins failed us but not all altcoins. The fact is, to a greater extent altcoins failed us; a project will be Introduced and will look good only for the team to enrich themselves and abandon it once public sale is over. Also, some altcoins will start well, list and ends up becoming worthless and when you check you will realize the team stopped developments maybe they ran out of ideas etc. In the same way, some projects are just for pump and dump, are we also to be blamed for this?
Nevertheless, there are still altcoins which are better and have never failed till date such as ETH, XLM and so on.

Most people enter the cryptocurrency market for the purpose of investing in order to make a profit, there are many who are not even interested in what blockchian technology is.
For that reason they became Fomo with news and could buy any altcoins introduced.
Personally, I paid for the same case, I bought a lot of coins from new projects. There are some projects that are really profitable but most often end up with a pile of trash.
At the moment I only focus on investing in Bitcoin and the coins in the top 20 largest currencies on the market.

Thats true.
There are some unscrupulous or scammers who make altcoin images worse, but that doesn't bother altcoin projects that are really well planned. Investors, marketers, bounty hunters, will form a good community if the dev team is able to offer quality products with attractive strategies. That is why there are still many crypto enthusiasts who come, there is still hope, as long as they truly understand the risks and determine the right strategy.

The reason people embark in investing in altcoins is because it requires little amount to acquire more tokens and huge profile in some cases.

No
What has happened is that altcoins were created due to greed by developers every project launches with millions of tokens without any utility. No utility what we do is speculate on price which crashes at will due to lack of base for the token. If few tokens exists, altcoins value will increase. Scam now everywhere because everyone wants to cash out quick.

We should failed to become successful. if (Bitcoin) top coin price can dumped huge, what is the wrong in altcoins. But I'm sure some coin will be dead even won't be available recover anymore. Only out of top coin doesn't show any good sign as doing top coin. This correction was needed to cryptocurrency either scam project can easily success.

I think there was also a moment when people started to realize bitcoin is something that needs to be recovered first in order to recover altcoins. So right now, there are tons of people who waits for bitcoin to be 20k in order to start focusing on altcoins, without bitcoin going higher they think there is no reason to focus on altcoins at all.

What we are missing out is the fact that bitcoin may need to increase and we all would love that however this has nothing to do with altcoins, altcoins themselves could increase without bitcoin increasing, we can all love any altcoin we want independent from bitcoin yet we are not really focusing on that. I may love ethereum without really caring about bitcoin, this doesn't change the fact that ethereum could increase while bitcoin stays same, THAT'S what we should focus.

Different mindset is the core reasons why, different sorts of individual participate in different altcoin crowd funding programs.

But i do not think there are different goals in investing in crypto currency. It just has to be about making profits

We can say there are people called bitcoin enthusiasts but for altcoin only we have investors so they are waiting for their opportunity to make money from that altcoins and dump all at once and forever but with bitcoin this is not the story.So most of the altcoins, lets say 99% are shits or scams that is why people lost trust and moving towards better and existing coins.

everyone has a different mindset about Altcoin, and they have different goals about Altcoin. but one thing is certain of their purpose, which is to get a big profit when they decide to invest in Altcoin

Altcoin is a money making machine for ico owner. Which robs investors by ico. If we look at the entire altcoin market, we can see what a scam has already been. Most altcoin pump and dump have trapped traders. And many altcoin ico escaped with investors money. I lost all my bitcoin on the altcoin market i will never trade altcoin anymore. So those who have fallen into the trap of altcoin, now they only hold Bitcoin.

How do we fail altcoins when many scammers are using the once best fund raising way to scam investors who are willing to invest good money on new projects? Investors aren't to be blame here pal, new projects have to show their worth today to gain investors mind

Although you were nor specific of those who actually failed altcoins, but if I might guess right, from the bolded, you are referring to bounty hunters.
First, let me correct this impression about bounty hunters. Yes, lots of them might be looking forward to earning from bounty, but i can make bold to say that some bounty hunters still invest.

This might not happen to all projects. One thing about experienced bounty hunters is that they have the ability to easily identify good projects. Having detected that, they will not mind investing their money in it. Some may not invest during a fundraising programme, but as soon as it's listed on an exchange and it sells below the fundraising price (Which is why some wait for it to be listed on an exchange), they buy low and later sell high.

You definitely will not see this occur at all times, because a lot of projects these days are just garbage in, garbage out. So, what do you expect- an outright failure on the part of the project.
Bounty hunters should not be blamed for this.
In fact, even if there are thousands of bounty hunters on a project and they never invested their money, a project that will perform brilliantly will still do.

I never failed altcoins but altcoins failed me alot, I'm sure it's same story for others too, they introduce good use case, give out good price at ICO and it all end with disappointments

Yes , sometime its not about investors that leave that project .but the owner abandonned it after they get support from investors . Too many scam that also collected money from us , if you add all of the scam project  its hundred million dollar or even billion they collected money from us. As a result we all have experience negative impact from the market .

They are still continue selling thier money collected from us and even selling thier own token to investors,and thats what really happening thats the reason why we have a long bear market seasons.

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Can you imagine where we are now if we dont invested our money to the new project  and only invested our money  in btc and other popular coins?

I think the real reasons behind terrible altcoin market are:
Dozens of scams, inactive or abandoned projects in last couple of years which has taken the trust and interest of investors away from altcoin market.
Some projects that are alive and active but are unable to come up with quality finished product even after 2-3 years of time and with many fake promises, such projects have also damaged the altcoin reputation badly.
So at the moment people are looking for only top coins to invest or trade which is hurting altcoin market as well.

It's more than just one factor that led to the disappointment and .. let's call it the "fall" of altcoins.

First, we have scams. New people get in the cryptocurrency sphere as they're attracted by new altcoin projects. They put their money in these ICOs and many of them are unfortunately scams. As a result, most newbies falling for these scams are going to first aggressively attack cryptocurrencies by bad-mouthing them and then they'll just leave and never come back again. First impression matters, and scams could lead to disastrous results for a first-timer.

Second of all, let's not forget about the ease of use of cryptocurrencies! They're not only hard to understand but also pretty hard to use. Some altcoins don't even have proper apps for mobile & desktop, so let's not even mention that some people begin by purchasing hardware wallets, buying some coins that are not supported by these hardware wallets and storing them the wrong way.. which could lead to the loss of funds. Overall, Bitcoin is and will probably always be the best when it comes to understanding the way it functions and so on because it's the most used one.

Then we have the insane number of alts out there. Like come on, it gets to a point where you just lose track of them. I have some alts I held for +5 years without ever hearing about them or touching them to find out last year that they've forked and I missed the event... therefore, my coins are now worthless. There are so many shitcoins, so many scams and fairy tales of how a coin "could become the next Bitcoin" blah blah.

And then... 51% attacks! A considerable number of coins have been left in the dust and subject to 51% attacks. Someone who owns these coins will instantly lose trust in them without a doubt.

And so on.. we have lots of reasons alts have failed. At least most of them. Most people prefer Bitcoin or the top few cryptocurrencies because they're popular and people work hard on bringing the best features and updates to them. Every exchange also has BTC and so on - it's a big circuit that leads to the final conclusion that nothing really beats BTC, be it the fastest cryptocurrency in existence. If the history told us that "all paths lead to Rome", here in the crypto world we can reconstruct the saying this way: All paths lead to Bitcoin.

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There are only a few still being properly managed & developed and only few will make it through this decade imo. Those who deliver what they promised and who prove to be safe and properly secured & developed will thrive. The rest will go straight to the trashcan. So that's the only right thing you can do: deliver your promises and make your coin be what it was supposed to become when it was born. Otherwise, it'll be placed among the thousands of shitcoins that will most likely never be revived again.

It's a very general statement, in fact, there are some quality altcoins which did several times returns during the bear market and there are some coins which are still trading at very low prices for every altcoin to rise or at least majority of them to increase in price it will only happen in the bull market where even garbage will fly sky high.

During the bull market, even a layman can make a profit but the real talent lies in picking the projects for investment which performs well even in the bear market one of the best examples is chainlink.

Just wait for the bull market to return where the alts will go up again but before that scam ones will fail to survive in the bear

We must do the correc things but not from judging these altcoins. I agree that some or mostly of the altcoins are turn into scam one but there are exemption with it.

The things we can do is avoid as far for now those whom projects that are being introduced continously and dont have much potential. How we can do this? We can think, study and observe how they will work out.

Cryptocurrency is a gift and we must cherish it. Dont blame too much of them in the sameway investors hate those scammer but learn from it. Im sure we can knack it back.

If by looking at the overall market of altcoins, we can say that it has already fail us.
However, we should not think that it will not recover anymore, just like bitcoin which was declared dead many times but it was able to recover.

I always put in my mind that crypto market would not be successful without altcoins and in the long run those legit and has a great potential will succeed.
Therefore, out job now is to determine those projects with great potential and wait for the right time as eventually altcoins season will come.

I understand where you are heading to. But not all altcoin are to be expected to do well, don't jump into any altcoin blindly you can limit your altcoin investment, or if possible focus on one.

For me, i do not think everyone failed altcoins, instead altcoins failed us.

A new project will show up, introduce a product, request for crowdfunding via ieo or ico, we buy in thousands as investors, Then token lists, price soars 2 times ieo price, Then team dumps, leaving investors to their faith.

Altcoins will refuse to launch their product, instead, delay announcement until they dump all and go awol.

I am a investor, i do not invest in crypto currency to be compassionate, but to take profits. Altcoins should so seriousness and put their all to make projects a success.

Altcoins rely on us all, as an investor, community member, bounty hunters, but give little in return.
It has to be a fair affair i suppose.

When I got to hear about cryptocurrency Bitcoin was the first cryptocurrency I was spoken to about, it captured a part of me but I did not make much move,
But when I had about altcoins and it's attribute I became interested, there was so much said to me about altcoins that made sense but as I got to know more I discovered that they where speaking about the past glory days of altcoins.

I was so intrigued and expectant but the story changed which has lead me to Wonder what went wrong, how did it go bad?

      The answer is if we want to be  truthful we all failed altcoin

How did we fail altcoins? Some may ask.
Of a truth we failed altcoin in
+ Short term avarice: altcoin became a success and I think everyone became gluttony, shifting aside the actual purpose of the altcoin. We can see people holding Bitcoins in thousands even if Bitcoin price is high, is not that the have low business mind set, but they are seeing the usage in future,

+ We cheered fake, scam altcoins for Greek gift: yes some of us support the terrible altcoins purposely blinding them self to the intention of the altcoin, and the results stained altcoin image.

+ Lack of believe: cryptocurrency Prices  may come down at any time because of the factors controlling it, some has abandoned real altcoins because of price drop, we don't get to see that much in Bitcoin, fall in Bitcoin price is when they buy Bitcoin the more.

If you check it honestly we have not be real to altcoin. Scam altcoins on the right and on the left, we interested more in altcoin bounty than the altcoin -who are we expecting to invest in it then?-

Can we retrace our steps and do the correct thing