What will you do in this case? - page 3.

KaliLinux

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Quote from: Outhue on December 09, 2022, 07:39:39 AM

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 wouldn't advise anyone to keep holding any crypto project related or that has any affiliation with FTX and its associate because the FTX news as we saw dropped the market by about -26%, what do you think will happen to the crypto project that is connected to it? here are other good projects to invest in instead of taking the risk of losing everything down the road.

ultrloa

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Quote from: Outhue on December 09, 2022, 07:39:39 AM

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?

Ftx is done so any token or coin directly connected to them is also supposed to be done already. Investor should not trust anything on it since maybe they will be the round number 2 victim if they keep believing that this is good to hold for long term. Give a good advice to that person that exchange his holding since top coins still much better to hold.

maydna

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This may be a difficult decision because FTX as a big investor, is experiencing a case that is enough to make the crypto market panic. Meanwhile, your friend has investments in both projects, which makes him worry about the future of his project. I also hesitate to give you advice because I'm afraid my advice will cause big losses for your friends. I suggest selling half of the total token amount and replacing it with another altcoin or investing in bitcoins. Or he can also keep holding the token while asking the project about the status of the project.

alik111

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Already we are in a bear market and now almost every cryptocurrencies are being traded in a very cheap price. So if he has in profit he should sell those altcoins and can buy more potential coins. We should always be updated with the Crypto News. So better avoiding those projects.

Crypt0Gore

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Mina protocol was one of the altcoins I used to hold before the FTX saga began few weeks back, I was forced to sell the coin but there isn't any big dump on the market till date.

I think the projects will be fine because Alameda will want to make money off their investments too, the most affected of all is Solana and still some are buying till date.

It's a pure manipulation and things will go back to it's old stage, Solana will survive this.

danherbias07

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Quote from: Outhue on December 09, 2022, 07:39:39 AM

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?

If they are involved and if I am on the same foot as him then I'd sell. Risking it further might be a rekt long-term.
Did you ask your friend his take on this?
I mean, does he have any idea of what happened, and if he is having doubts about the investment he made?
Yes, I would find something where those companies are not involved, honestly, far away from them, and start a clean slate. This will just become a stressful road for him if he will keep on thinking about the investment he made, and sleepless nights monitoring the market.

justdimin

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Quote from: coin-investor on December 09, 2022, 10:23:45 AM

Quote from: Outhue on December 09, 2022, 07:39:39 AM

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?

Why replace it with other altcoins, look at the price of Bitcoin it's cheap right now, dump these altcoins and buy Bitcoin, altcoins come and go but Bitcoin always bounces back, since FTX and Alameda are two of its biggest investors expect a dump to happen, there's always a domino effect when a project shutdown, all of his associates and projects that involved on it will also suffer.

The two altcoins you mentioned are still doing good but for how long when the investigation goes deep expect bad things to happen, they will liquidate and the price will crash, so you have to take action when you have the time

That is true, I do believe that while we have bitcoin this low, it is a lot better to buy bitcoin and hold it. Obviously, you could sell it later on when it peaks, and you could put some of that into alts, but this should be done after bitcoin reaches like 10x levels first, before that it is useless.

I know it is not going to be easy for everyone to do such a thing, most people either take too much of a big risk, or they take no risk at all. However, altcoins are futile risk right now when the reward at bitcoin is equally big and less risky, why take more risk for the same amount of return? That is why nearly all my money is in btc, and the only other big ones are eth and bnb, number 2 and 3 respectively.

RAppleby

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Is buying altcoins intended to be held for a long time? I don't like long-term investment in (unknown, unpopular) altcoins. I'm afraid that if I open my wallet one day, all the money in it will return to zero.

When I invest in altcoins, I will always observe the price of the coin. If the price is not optimistic, I may stop the loss in time. I will hold Ethereum for a long time, I think it is the center of the altcoin.

adzino

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Quote from: Outhue on December 09, 2022, 07:39:39 AM

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?

Never heard of those two coins. If they are some good projects that has potential, then he can keep on holding and not focus on all the speculation. If not, then your friend should likely sell it. The price will be affected by the events of FTX since you are saying they are a big investors. Probably already has affected the price. And if the coins weren't sold off, there will be another huge dip. So if your friend doesn't want to take a risk, let him sell it now and buy it later at cheap after the tokens are dumped.

serjent05

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Quote from: Outhue on December 09, 2022, 07:39:39 AM

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?

It is late to sell his bag now because I believe the market already plummet due to the Alameda FTX fiasco. I think all he can do now is to wait, and Mina Protcol and Fuel is a different project from Alameda and FTX, if one of the investors failed, it does not mean the project failed because investors an developers are two separate entity, investors can cash out, price plummet but they can be replaced by better investors if the project developer continues to meet the road map. I think it is better to accumulate more during the crash, that is if he has a lot of faith on the project after all his researh and investigation.

Bananington

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Quote from: Outhue on December 09, 2022, 07:39:39 AM

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 .

This kind of questions regularly remind the extent to which Alameda and SBF's names have been damaged, that people do not feel safe being involved in a project that they are known to be involved in. If he already has the hunch to get another altcoin because he is uncomfortable with being involved in a project that Alameda and co are involved, then he should go along to get other altcoins. But you should also let him know that so far Alameda and SBF are not in charge of the project, they are safe to an extent.

Yamifoud

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Quote from: Outhue on December 09, 2022, 07:39:39 AM

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?

If I were in that situation, I will sell them and replace them with potential projects. We have to anticipate the possible collapse of that project as it was connected to FTX and Alameda. Though we are in this bear season and we expect a drop in prices, yet we can't be confident that it is because of the bearish situation as might it drop because many investors are also selling their coins earlier.

I think we better stay away from the projects that FTX and Alameda are involved with. That I think was the safest way to do it now.

Silberman

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Quote from: Outhue on December 09, 2022, 07:39:39 AM

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?

If he is underwater then without a doubt this is a difficult decision to take as that would mean he will need to take some important loses by selling, but if I was in the same situation then I would be seriously thinking about selling, and if at some point there is a strong indication that the price may go down even further then I would sell and then move to bitcoin as a way to protect my capital for the time being, now the best thing would have been to not put yourself in that position, but this is not possible to do for that newbie anymore.

romero121

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Quote from: The Cryptovator on December 09, 2022, 03:28:11 PM

Because it is a financial matter, you must always make your own decisions. I will not hold a coin that is associated with risk. I absolutely despise being involved in drama. I will no longer hold such risky coins wherein FTX has invested. I'd sell coins and buy some others. Investing in a coin nowadays is a challenging task. Because there is so much drama going on around crypto, you must choose smartly. Rather, invest in Bitcoin, which is less risky and much more decentralized.

Agreed, when finance is involved it is good to have their own decision. Because we don't know the market movement of the respective coin. It can move bullish or bearish in no time. When there is a fear about the involvement of something that had created negative impact over the market, it is good to sell and go for the trusted ones on the top list than holding with fear.

The Cryptovator

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Because it is a financial matter, you must always make your own decisions. I will not hold a coin that is associated with risk. I absolutely despise being involved in drama. I will no longer hold such risky coins wherein FTX has invested. I'd sell coins and buy some others. Investing in a coin nowadays is a challenging task. Because there is so much drama going on around crypto, you must choose smartly. Rather, invest in Bitcoin, which is less risky and much more decentralized.

Anonylz

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Alameda is no longer a preferred name in the crypto community this days so if you are holding any project supported by this people you would be helping yourself by dumping it and cutting your loses before it is gone from bad to worse.
It is unfortunate how greed has turned a strong VC into a big scam entity. See how they render ftx useless with their greed.

Blawpaw

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Quote from: Outhue on December 09, 2022, 07:39:39 AM

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 would run like hell. Anything that relates with alameda or FTX for that matter will be dead in a few months. Well, there might still be a chance for a recovery but considering the previous blows I have seen in the industry, he would be better off by selling those tokens while he can. Nevertheless, if he believes in a comeback he may hold his bags

Bitstar_coin

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Quote from: Outhue on December 09, 2022, 07:39:39 AM

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?

Since the ftx fiasco, I think many investors will rightly pull out of any project connected to that company, it seem whatever they touch will end up having issues in the long run, I recently read that Do Kwon blaming ftx and Alameda for the down fall of ust and luna. It seems the authorities are looking into this recent development.
It is up to your friend to do what he feels right but from the look of things, that company already messed up it's reputation, I doubt it will be business as usual for them anymore.

so98nn

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I would ask them to convert everything into bitcoin or stablecoin for time being. Though the name of every asset which is in contact with FTX has been painted red one can still trust the Altcoins which were involved directly but to the extent where we believe they still have the powerful project idea behind them. Not all of them gonna be success. 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.

ethereumhunter

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You can return the question to your friend. After all, as a beginner, why would he choose a fledgling project over bitcoin or other potential altcoins? And for that, I can only advise him to sell his tokens and move to bitcoin and not touch altcoins for a while. By investing in bitcoin, he can at least hope to see his investment's value increase in the future. And this will keep him from worrying because if an altcoin goes down, the price can drop drastically. But everything will return to your friend and let him decide what is best for him.

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