If you decide to sell your altcoins, also consider the possible risks and costs associated with such transactions, including exchange fees, currency conversion fees, and potential loss of value due to price volatility. Before making an investment decision, it is best to consult a registered broker or financial advisor or seek advice from someone who has sufficient knowledge and experience in this area.
I think that without enough trading experience, it is better to study the underlying logic of Bitcoin and evolve yourself from a short-term investor to a long-term investor. 
Topic: What will you do in this case? (Read 601 times)
When trading or investing people need to always think about the risk to reward ratio, a risk reward ratio of 1:2 means you are willing to risk 1 dollar to win 2 dollars on a trade, if your system had an accuracy of 60% then this means that on average you will earn 0.8 dollars on average on each one of those trades for each dollar you were willing to put at risk, however the risk of investing in new coins is so high that it is simply not worth it and yet many people keep investing in them.
The risk of investing in new coins is justified when you invest among the first investors, rather than buying a token at the top of the market after you've added it to the exchange. If you invest in a new project at the price of early investors, you only lose money completely if the project dies completely and has zero liquidity. But if the project still manages to develop, you can expect a profit of thousands of percent.
I think it's just better migrating over the coins that's already high ranked and high trading volume at least that way you could easily get liquidity and they are gonna be the last ones that gonna be losing their value in the long run, the thing with investing in new projects like the ones you mentioned added with the fact that they are being invested by some problematic platform is that they could literally went into zero real quick, so I think it's better if you just rethink in regard of your investments in general and take safer approach in term of managing your investments risk, the current circumstance is bad enough and need proper and diligent way of managing your investments so that you won't lose many of your investments and it requires good risk management and investment allocation.
When trading or investing people need to always think about the risk to reward ratio, a risk reward ratio of 1:2 means you are willing to risk 1 dollar to win 2 dollars on a trade, if your system had an accuracy of 60% then this means that on average you will earn 0.8 dollars on average on each one of those trades for each dollar you were willing to put at risk, however the risk of investing in new coins is so high that it is simply not worth it and yet many people keep investing in them. A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
He could keep it if he wants but consider the higher risk. But if that will happen to me, I'd sell them without hesitation just to give myself peace of mind. You can't sleep well if your investment is connected to a questionable and unreliable exchange. A good suggestion is to sacrifice these coins and choose Bitcoin instead of sticking to altcoins. Perhaps, they are dumping and the future is too unclear, not unless if they will invest in known altcoins like ETH. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
If I were you OP, give them some time to think. I guess they are already old enough to assess the situation and I believe they know what happens to FTX now.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
I will do in the case of this person that I will immediately exchange and replace my bag of these coins for other coins because their two projects will follow FTX of bankruptcy,.......Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
I think it's just better migrating over the coins that's already high ranked and high trading volume at least that way you could easily get liquidity and they are gonna be the last ones that gonna be losing their value in the long run, the thing with investing in new projects like the ones you mentioned added with the fact that they are being invested by some problematic platform is that they could literally went into zero real quick, so I think it's better if you just rethink in regard of your investments in general and take safer approach in term of managing your investments risk, the current circumstance is bad enough and need proper and diligent way of managing your investments so that you won't lose many of your investments and it requires good risk management and investment allocation.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
I will do in the case of this person that I will immediately exchange and replace my bag of these coins for other coins because their two projects will follow FTX of bankruptcy, it would be wise not to keep them in even for one day in my bag, It is good that you were aware that these coins were Alameda and FTX involved in them so you tell him to stay away from them unless he wants to lose his funds and risk it, There are a lot of good altcoins in the market that we can invest now at prices that are not expensive and that do not carry the risk of collapse like the FTT coin, so we all have to review the partnerships for the altcoins that we will invest and know everything about altcoins and if we find something that will affect the future on our investment and lead to The loss of our capital, we must leave it and move away from it immediately. Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
If you decide to sell your altcoins, also consider the possible risks and costs associated with such transactions, including exchange fees, currency conversion fees, and potential loss of value due to price volatility. Before making an investment decision, it is best to consult a registered broker or financial advisor or seek advice from someone who has sufficient knowledge and experience in this area.
Right now it seems like an extremely bad idea to sell anything. What is the point of selling when all prices are at the bottom? You should sell when all prices are high. Investing in cryptocurrencies implies, among other things, that you have to survive the crypto winter and wait for the market to dawn. If you should have sold, it should have been at the beginning of this year, not at the end of it. The most profitable strategy here is just HODL. This is just my opinion.
I personally feel that if there is still a chance to get out and it doesn't hurt you why not, I don't mean to say the project is bad but seeing the current conditions with Bearish still in the shadows of course the risk of altcoins being destroyed and not surviving is clearly quite visible and does not rule out the possibility your coin also has the opportunity to be like that.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
Selling will be the last resort if a certain coin is in shaky condition during this market situation. If you want a good exit, better sell your nonpotential coin at a reasonable price and buy a potential coin that has a better resistance against the bear season. Choose coins that have a better chance of reaching a good value when the bull season approaches. If you had enough research about your coin, you'll know its capability and you'll have an idea if it's still good for holding or not.
Actually, with the current conditions, it would be better to be in something that is possible and of course bitcoin is a good choice than giving hope to several projects in alt which are not too certain.
I personally feel that if there is still a chance to get out and it doesn't hurt you why not, I don't mean to say the project is bad but seeing the current conditions with Bearish still in the shadows of course the risk of altcoins being destroyed and not surviving is clearly quite visible and does not rule out the possibility your coin also has the opportunity to be like that.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
Selling will be the last resort if a certain coin is in shaky condition during this market situation. If you want a good exit, better sell your nonpotential coin at a reasonable price and buy a potential coin that has a better resistance against the bear season. Choose coins that have a better chance of reaching a good value when the bull season approaches. If you had enough research about your coin, you'll know its capability and you'll have an idea if it's still good for holding or not.
Some of them actually find such incidences as exit scam strategy! Better watch your investment carefully. This is why better choose bitcoin straight away and keep up with the market. Also let them also decide, try to be direction giver but ask them to decide themselves. No one is right in this market.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Firstly, not all altcoins are able to survive during this bear market, even if they can survive, they may not be able to reach their ATH again, as usual, commonly for altcoins that have quite similar ideas to others and are not powerful ones. Secondly, they are supported by FTX mostly. This is also the main reason why this altcoin may be falling down and cannot rise up as expected again. We also know that the FTX team is struggling with their project hard for now, moreover with their condition right now, I ma not sure that they may be able to support us again. The event they are supporting, will not give a big influence tot heir price.
Thirdly, if your friend is selling their cons, does this mean that they are lost from their initial price? If the loss is not too much, it is better to switch their investment to the Bitcoin, this is more promiisng than altcoins like them.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
FTX invested in a lot of projects in the last few years through Alameda and just because FTX was an investor in a project does not mean automatically that this project is now bad all of sudden just because FTX has gone bankrupt and is gone now. Of course you have to double check first how how the investment of Alameda was in those projects. I also think the worst thing that can happen is that the tokens that are owned by Alameda and therefore FTX could be sold off within a very short period of time if FTX is forced to pay back their debts to its creditors, but i don't really how that works or if that is realistic.
I personally feel that if there is still a chance to get out and it doesn't hurt you why not, I don't mean to say the project is bad but seeing the current conditions with Bearish still in the shadows of course the risk of altcoins being destroyed and not surviving is clearly quite visible and does not rule out the possibility your coin also has the opportunity to be like that.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
But if you are sure that you will be kept, why not? But if you are not sure about it, then letting go is one good thing.
If you decide to sell your altcoins, also consider the possible risks and costs associated with such transactions, including exchange fees, currency conversion fees, and potential loss of value due to price volatility. Before making an investment decision, it is best to consult a registered broker or financial advisor or seek advice from someone who has sufficient knowledge and experience in this area.
If people actually did that and they consulted with an experimented trader or investor then we could avoid most of the tragic scenarios we get to know almost every day in this forum, because no investor which has a high level of experience will waste their time investing in the thousands of useless altcoins that are released each year, for newbies it is better to concentrate on bitcoin and only on bitcoin as it is impossible for them to distinguish a good project from a bad one, and the case of the OP is just an additional example of this idea being true. OP was asking for some insights since last week. I wonder what was his response to the guy. Personally, I would really stay away from coins and projects that are connected with FTX and Alameda. Fuel dropped around 50% already while Mina lost a third of its price since November. I do not know how much influence and money Alameda and FTX invested into these projects but it is very possible that a withdrawal is imminent in order to cover the damages done to its clients and investors. Authorities are probably going to liquidate all of Alameda and FTX's assets.
It is clear that not just for this case, but in general if there is anything wrong with any project even once then I stay away from it and everyone else should too. We are living in a world where crypto is filled with shady people who do shady stuff, and even if you are a legit project, if you make a mistake just once then I will try to stay away from it and just look for stronger stuff. Doesn't mean that shady stuff suppose to be outside, it needs to be from inside to make sure I stay away.Like let's say ETH is legit, but someone used it to steal from people, that doesn't mean I will stay away from ETH, it needs to come from within, and FTX came from within.
If you decide to sell your altcoins, also consider the possible risks and costs associated with such transactions, including exchange fees, currency conversion fees, and potential loss of value due to price volatility. Before making an investment decision, it is best to consult a registered broker or financial advisor or seek advice from someone who has sufficient knowledge and experience in this area.
FTX and Alameda invest in a lot of altcoin projects as well as different crypto companies, I don't remember exactly how much they invested but probably no less than 100. so I don't think that those 100 projects and companies will also die after they go bankrupt.
The existence and development of the project depend on many factors, and most importantly the project development team, if they are really passionate about their project, they will have enough ways to overcome difficulties.
What I want to tell you and your friends is, investing in altcoins at this point is very risky, selling and switching to bitcoin would be the wiser choice.
The existence and development of the project depend on many factors, and most importantly the project development team, if they are really passionate about their project, they will have enough ways to overcome difficulties.
What I want to tell you and your friends is, investing in altcoins at this point is very risky, selling and switching to bitcoin would be the wiser choice.
A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
The fact that FTX invests in those two projects and when FTX goes bankrupt does not mean that they also die with FTX, there are many other investors investing in those two projects, not just FTX and Alameda.
Look at Solana, FTX is considered the biggest investor, and Sol's success is largely due to FTX, but it's just having some trouble at the moment, not dead. Whether a project will die or continue to grow depends on the project team, not a certain investor.
OP was asking for some insights since last week. I wonder what was his response to the guy. Personally, I would really stay away from coins and projects that are connected with FTX and Alameda. Fuel dropped around 50% already while Mina lost a third of its price since November. I do not know how much influence and money Alameda and FTX invested into these projects but it is very possible that a withdrawal is imminent in order to cover the damages done to its clients and investors. Authorities are probably going to liquidate all of Alameda and FTX's assets.
After several replies and suggestions, I guess he already knows how to respond.But in regards to holding coins that are connected to FTX and Alameda, fear and uncertainties usually come into our minds. It was our concern and it was advisable not to invest in these projects as the risk is too high. But if I were the OP, I suggest them to warn the possible results of investing in these projects so it was their decision to sell those coins and switch to another projects and keep them.
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