Topic: We should not buy outdated and overvalued coins - page 3. (Read 457 times)

And was dumped because of Elon Musk's tweet. This shows Dogecoin is just a pump and dump scheme coin.



Definitely, I agree! FOMO-ing is a bad thing because it often leads investors to bankruptcy or bag holding worthless tokens/coins.  Always look for an opportunity to buy at a discount.  Cardano brings innovation to the table, so I guess it is also one of those few that will have an impact in the cryptocurrency industry when the time comes.

There are many things that defines and directs the price. Bitcoin is not special for its use case but people trust it due to its nature and decentralization. Bitcoin could easily be called outdated and overvalued. But it don't mean it won't go any higher. Everyone should research and know your preferences. Adoption and use case could make it easier to predict. Decentralization in my view are more important than technologically advanced tokens that are controlled by some institutions.

I don't like the way you raise investment issues on projects with such information. If we say it's obsolete and overvalued, let's think of BTC that looks too outdated . While many people do not know this market, every major currency has the opportunity to increase in price. In fact, the things you say about loss of time and high price, I have not seen examples from you, For you, the projects that you mentioned I have never thought of them as obsolete and highly valued projects.

The importance of making research before investing in the cryptocurrency space cannot be overemphasised. There are several moribund projects in the space and this has increased the number of worthless tokens. To be on the safe side, one needs to know how a project is faring and the commitment of the team towards the project development. Its a known fact that the usecase of a project contributes immensely to the success of the project and a project without a usecase may find it difficult to succeed in the long run.

As far as I know ADA is still pumping and kicking in the market now and been in the top 1o same to BCH, they may be outdated to you but they are still profitable and having news in crypto now, they are so called gems in the market and we can't erase the fact that many coins appear to be more profitable and promising but do not neglect those coin who stays at the top of the market and still giving news and updates, they are more stable than new ones.

To begin with; investment is about taking good profits; be it by investing in bitcoincash or eth or btc, all that matters is your trading skill and research works. Also on what grounds is tron an outdated or overvalued coin ? Tron is a very competent platform; with a very bullish future; staking features, freezing features, massive adoption on the trc20 et al. Do your research though, your capital, your investment

Tron, Cardano, EOS, BCH are all top altcoins, if they are outdated they would have lose that position already, how many new projects have reach where these altcoins are today? Since 2018 only DOT project enters top 10 position, isn't that a big shame for all new projects? Don't throw away gold looking for stones

One of your outdated coin though, ADA is still on the top list of altcoins and making good grounds in the last 2 years so I don't know how can you call them outdated. So we can't say that some coins are outdated and overvalued when they are in the top 20.

So your argument is flawed in the beginning. How about new coins in your list and let's say moving forward 3-5 years from now, will they be outdated as well? And there are some outdated coins still in the market but they are undervalued. So there is no formula here, depends on how crypto people are going to support new and innovative coins.

Dogecoin only pumped because of Elon Musk's tweet. No other reasons than that.

From OP's post, I still prefer Cardano to be a good investment. I've known it for long and they keep up to date with their roadmap. Some of those new innovative coins are still overhyped to me so I don't plan to buy them yet until a massive correction happens. A coin that increased more than 50% in less than a month is likely to dump soon.

Apart from Bitcoin and Ethereum most of these post 2020 projects are likely to die and people need to start to reduce their exposure to them in these cycle, most of them have product people are not using, also some have spent all their ICO money and even sell the tokens meant for the development of their platform, check all these if the team have reserve or not. 

Exactly, I believe every one in crypto space have their own view to why they consider some project and consider them outdated because to me, what good is Dogecoin? but we saw what happened some few weeks ago and this will happen occasionally to some projects even when you classify then as outdated because some one or group took a sudden interest in them. How many of us in crypto actually use those cryptos for what they where developed for? like the in-Game coins/token, do we really acquire them to be used for gaming or for trading and make money? i bet your guess is as good as mine.

It appears you are on a self propaganda about outdated and over priced project, you have made 3 post now related to this topic, why are you so bitter with this project you have named, if you invested and did not make good profit - which is the major aim of %99 of crypto investors, then move to another promising project according to you, don't waste your time hating on what you have no control of,

Let me ask you, do you know most people buying eth or any other coin are just for profit making and not because of tech! the most important thing here is to make profit, only developers are concerned more about eth 2.0 so stop kidding yourself, you won't benefit more investing on eth than the price pump, if you are not a dev why are you making so much noise

Honestly, the only coins out there that have any non-zero intrinsic value are the ones that have a use-case, everything else is a pump-and-dump fad coins. Bitcoin is a prime example of this with almost world-wide adoption, other coins serve a purpose in their own isolated environment, such as a Casino token used for gambling.

Overall the investor has to do their own research as you said

Tron, EOS, Cardano and BCH are all good altcoins to me, this is your own decision OP and I believe everyone is free to make theirs, all these altcoins you called outdated are better than 90% of altcoins that got into crypto since 2018, well the choice is always yours

What you call it as success? High prices and huge market cap?

Most of the cryptos are shit because it is nit useful in the real world which is same with ethereum right now, so we need to wait for ETH 2.0 to complete then invest on it or simply buy now and wait for it?

I agree that we should avoid investing on cryptocurrency which is not useful but your kind of analysis is wrong because it was made on price than reality.

Doing Altcoins research is very important because right now, so many Altcoins are in circulation. A very important rule so far is:

Don't buy outdated and overvalued coins!

A coin needs to be innovative to be a successful coin. So far, projects are unfolding in several phases:

- Vision Project develops a vision / whitepaper
- Trial Project tries to deliever a solution based on "vision" / product development starts
- Result Project is presenting evidence (after development) if it's working or not

Most projects fail in phase "Trial" because it didn't work and team can't deliever. After no innovative result was presented, some projects start to get lower expectations and switch assumptions. Development takes ages and a good product is always only "promised" but will never come.
Now, marketing will take over a large part instead of real progress. Marketing is done to hide failures and present very litte progress as a huge success.

And finally, it will result in an outdated and overvalued coin. It's often very similar! And we need to know to stop buying such coins because price will go down later.


Outdated and not innovative coins so far:

- Bitcoin Cash
- Bitcoin SV
- Cardano
- EOS
- Tron
- NEM
...


We should instead decide for new, innovative coins:

- Ethereum 2.0
- Avalanche
- Cosmos
- ChainLink
...


Having a look at development history is a very important part of doing our own research!