Topic: When you hear about an altcoin over and over, it is already too late to buy it. (Read 706 times)

haha, i have been saying this for ages now but nobody listens and then they start saying trading is like gambling!!!

this is actually how FOMO works, people start hearing about these altcoins and how "good" they are and then see the price rising. then there is also a very old mentality among all cryptocurrency users that they think since bitcoin went from $0.01 to $1000+ that means any other altcoin can do too!

so they join in, pouring all their money or bitcoin into that altcoin hoping they can get the rewards of $1000+ but instead they see price going down and their investment shrink

You may have not read it all. By your rule you'll avoid one risky (?) pump and all the next ones. You need to buy when you can, whether it's pumped or not, as long as you have the money and you believe the coin worth it.
Monero was in the middle of discussions at about the same level (annoyingly for many) in the days of sub 1$ price as it is now. Dash is another example, but I don't know that well what was the price. Ethereum - same story.

It really is obvious,they just want to pump it without admitting that they are doing it or they don't want it to be obvious,when they say pump is coming it means their sell order is already in the first line up and they want people to buy it as soon as possible.

i did that an i saw how ethereum forked without even caring about what others think = 100% centralization just like a bank.


no i don't want leader. bitcoin and any other cryptocurency is decentralized and as soon as you think in terms of leaders (aka Vitalik) things become centralized and that defeats the purpose of these currencies!


Actually yes.
i never said the coins are/aren't not worthwhile.
i never said the were/weren't growing or won't continue to grow in the far away future.
i never said the coins are bad or good.

i said when they are pumped (or you can call it growth if you like) and everyone starts talking about them specially when they keep advertising and praising them that means it is too late to get in.

as i said in my reply to HCLivess, you can still buy in and even make profit but it gets riskier and riskier every step price goes up and the bubble grows.

Thing is, most worthy devs already work on projects. Any new devs coming into the scene will come without much experience.

Actually no.
Any worthwhile coin is and will be mentioned over and over again.
Any worthwhile coin is growing (or gets pumped?) now and then. It falls then rises again, even more.
The result is that you may miss one pump or two, but if you go by this rule you may never get to buy the only worthwhile coins and miss all the future "pumps".

So unless you are a good trader and can earn a lot every day without holding any coin, you have to find a good moment to buy and hold a few coins with potential, even if you've heard of those coins over and over again for quite some time already.

Simple and basic yet excellent advice. All those profesional pumpers are just getting reading to dump when you see them spamming their shitcoin everywhere.

Yes, you may buy at 100% gains and get another %100, but that is just luck, there's no way to know when a pump is over.

Nobody is talking about litecoin 

Agreed


You can take your profit by selling a small portion of your investment. You sell all only if you short if you believe you can buy cheaper or you think it can't increase further based on what you've learned and read about the project. Apparently people believe it will go much higher, and i agree. It might correct a bit, but the positive sentiment is at peak and the latest news only strenghtened that. Now, existing positive sentiment will be boosted again when the second largest update in ethereum that will come in june, metropolis.

You have to realise one thing; so far, if you take time and compare dev teams attitude in crypto space, you'll come to the conclusion ethereum's team is the most proffesional of them all. I've read a bit dash reddit and i almost puked; devs themselves hype their own project. And then you research further and you can see why, read articles on important sites like nasdaq about dash scam http://www.nasdaq.com/article/op-ed-a-closer-look-at-the-origins-of-dash-part-2-cm761072 .
On the other side, ethereum's team not only they don't hype, but they even FUD it, even though everyone knows ethereum can't scale since no blockchain project can actually scale yet, vlad, developer of ethereum points it out himself and asks people for less hype, lol. See the difference ?

About bitcoin's dev team. Look at them. Do you see them as leaders ? The community doesn't trust nor respect them, that's why there's so much chaos in there and that's why a small percentage of bitcoin's investors jumped boat into ethereum. I don't have time nor patience to write to you, google ethereum news, ethereum reddit and read for yourself.

Maybe you don't know, but ethereum dev team is the only team out there that is actively tackling scaling problem, the kind of scaling that would bring it to visa level and mass adoption. Basically, ethereum can do, or if it can't yet, has it in the roadmap, to do whatever all other projects combined AIM to do.

i agree but not with the % chance. that depends on so many different factors. sometimes there is a good chance and sometimes there is no way in hell!
for example it depends on how long that coin has been pumped. how many pumps and dumps it had in the past, and what the hype is about it can be a fake pump or it can be with some news.


lets assume for a moment that Ethereum is the best thing in the whole world and not only among crypto currencies.

it was pumped! and when price goes up, believe it or not investors want to take their money out to make profit.
why else would anyone "invest" if not to take out money?
and when they do, price declines. and when the buy supports are weak and because of hype and Fear of Missing Out the dump will be harder than a dump after a simple rise.

that is why you keep hearing a slow rise in bitcoin is much better than a fast rise.

and about being late to get in i have to say, it is not late to invest in something like bitcoin that has a future and is actually being adopted by real people as a currency or as a platform to transfer money.



exactly.
i am not an expert in this but i have seen many coins do it better than ETH and even i have read that bitcoin can do what smart contracts do ever so easily!

I don't know and don't really about how functional the smart contracts are. What i care about is that it doesn't have scaling and a storage system in it's roadmap. It's easy to copy a feature if you're a programmer, but what's the point of it if you'd have to use several different projects simply because you'd want to use the smart contracts technology of a random project because it can't scale nor has plans for it. Copying ethereum's SWARM is a bit harder, is it ? Or the research on scaling and implement it before they actually FIX it ?

That is as wrong as it gets. There are several coins working with smart contracts, and some of them, like BitBay, are way ahead of ETH. Try running both BitBay wallet and ETH wallet, and see for your self.

Depends, i wouldn't invest in a hyped project that only aims to be a payment system for example. Because there are hundreds of those already. However, in dapp and smart contract scene, there is only one, every other project that aims to do that is using some of ethereum's technologies or are in their infancies, years behind in development.

So, is it too late to invest into bitcoin ? Yes it is, unless you wanna hold few years for the next halving which almost guarantees profit. But with the civil war in the bitcoin scene now, i find it extremely risky.

Is it late to invest in ethereum ? Depends how documented you are about it and if you kept up with the news. Even for day traders that sell days or months later for profit is a good occasion; second biggest update comes in 3 months. First major update increased the price 5 times. I'd say the biggest concern for ethereum right now is switching to POS securely next year in 2018. At that point, there's like 10-20% chances to fail and you may lose 80% of your investment, or 80-90% chances to succes and you may increase your profit 10 times.

Sometimes yu have like 25% chance that it will go higher, but it's definitely not worth the risk

these days we keep hearing about Dash, Etherum, blahblahblah and how good and awesome they are! where have they been all this time. lol

now here is my 3 year experience:

When you hear about an altcoin specially in massive scale spamming everywhere that means it is already too late to get it and that altcoin is already pumped.

why else did you think everyone is telling "you" about how good it is? 
if it were good they would have kept it to themselves trying to accumulate more while it is still cheap,

no they do it because they want someone who buys their sell orders. and this has been correct 100% of the time so far. i can't tell you when will the dump begin, but surely enough it will begin.