Why altcoins are rampant in the market - page 2.

gwdf1

full member

Activity: 680

Merit: 103

Quote from: Caldear on July 09, 2021, 03:16:52 AM

In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？

We definitely should take benefits from them as long as it’s possible. Of course, it is difficult to find not a scam for long term holding, personally I do in the following way:
First of all, I investigate the idea of the altcoin’s project and its docs, then I overview the team members and I also check if any “whales” are going to invest in it. Secondly, I find out about marketing campaigns and social media. Also I get know if there is a big community and there are many people who trust it and want to invest.

CryptoGuy42

newbie

Activity: 26

Merit: 0

Quote from: TheGreatPython on July 22, 2021, 03:40:40 AM

Quote from: CryptoGuy42 on July 21, 2021, 10:53:39 AM

I believe I said this before in this discussion or one on the site. I think a lot of new investors could get burnt with the GME/AMC/DOGE boom.
I hope they find cool projects like Black Eye Galaxy to invest in. I am excited about this as I have always wanted to own a planet and now is my chance. Also being able to get returns is massive!

Haven't heard about the project anywhere and I am not accusing you but looks like a promotion more than an investigation to me.

I feel there are following reasons for the altcoins market to get bigger and even more stronger despite so many dead coins:

1- New coins bring a fresh possibility for investors to earn bigger returns
2- Pump and dump schemes are there which lures the investors
3- After what happened with doge, people follow various influencers on social media and hope they can find the next doge

I am not offended. Everyone should be careful when getting random internet strangers giving "advice."
I have done my "DYOR" as they say. I think Black Eye Galaxy has a sold project idea, team and they are moving forward. I have invested some of the side money into it and if it does fail, the so be it. I don't think it is a rug pull at all, but I could be wrong. I am very interested in where the project is going and where it can go. You should check out the roadmap:
https://blackeyegalaxy.medium.com/roadmap-more-detailed-jul-aug-55d0eb5368dd

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Quote from: CryptoGuy42 on July 21, 2021, 10:53:39 AM

I believe I said this before in this discussion or one on the site. I think a lot of new investors could get burnt with the GME/AMC/DOGE boom.
I hope they find cool projects like Black Eye Galaxy to invest in. I am excited about this as I have always wanted to own a planet and now is my chance. Also being able to get returns is massive!

Haven't heard about the project anywhere and I am not accusing you but looks like a promotion more than an investigation to me.

I feel there are following reasons for the altcoins market to get bigger and even more stronger despite so many dead coins:

1- New coins bring a fresh possibility for investors to earn bigger returns
2- Pump and dump schemes are there which lures the investors
3- After what happened with doge, people follow various influencers on social media and hope they can find the next doge

ROSERTY

member

Activity: 116

Merit: 11

With the increasing benefits of Bitcoin, more and more investors are entering the crypto market. Bitcoin has been developed for a long time, and its price fluctuations in the future will become smaller and smaller, compared with the profit it brought to investors when it was first created. Many investors will now choose altcoins with lower investment costs that appear in the market to make short-term profits.
Bitcoin is highly secure because it is recognized by the market and has a high degree of consensus. As altcoins are still growing, and many of them are explorations and experiments in new areas of the industry, there are great risks and the possibility of failure is extremely high. So from the perspective of asset allocation, even if we are optimistic about the future of altcoins, we can only allocate a small amount of funds.

lixer

hero member

Activity: 2688

Merit: 588

Quote from: Teknisi88 on July 21, 2021, 12:40:41 PM

Investors have a sound plan.
When they see bitcoin is going through a significant setback/change, then they take a real step by joining an altcoin. because the current ETH type of coin continues to struggle to outperform bitcoin.

The solid top market cap coins will always struggle to outperform each other and that's because they have a monumental market cap which makes it harder for the value to rise too much unless there are some new updates or developments happening in the project.

That is why a lot of traders and investors look towards new coins because there are lots of hidden gems and if you can find and invest in them early, you can make an unbelievable amount of money. The problem though, as we all know, is that a lot of scams and deceptive tokens do exist in the market in cohesion so it's near impossible to find the right ones.

Shallow

sr. member

Activity: 938

Merit: 255

SmartFi - EARN, LEND & TRADE

Quote from: Caldear on July 09, 2021, 03:16:52 AM

When people saw the value of Bitcoin, they also created various altcoins. It will run away after harvesting and have no real value. Although these coins are not reliable, there will be some people who are willing to bet that altcoins can explode. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？

Although you are right to an extent but at the same time, I do not totally agree with you. In the crypto space nowadays, it is evidently clear that a lot of scammers are around who creates different tokens with no real value but at the same time, there are a lot of projects which are created and of course have good use case hence the reason they keep growing while lasting long term. To back this up, the top 100 coins and tokens on coinmarketcap is a good proof that even though there are useless altcoins, there are still few that are worthwhile.
Also, people who bet that a particular altcoin will explode are people who are looking for those to dump on, and this usually happens with useless tokens; already built projects have no time for such act, instead the team pays more attention on their goals in order to attract more investors.
So in a nut shell, go for good projects and overlook those seeking to scam users through flooding the social media channels with their promotions.

Teknisi88

full member

Activity: 1050

Merit: 104

Quote from: Caldear on July 09, 2021, 03:16:52 AM

When people saw the value of Bitcoin, they also created various altcoins. It will run away after harvesting and have no real value. Although these coins are not reliable, there will be some people who are willing to bet that altcoins can explode. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？

Investors have a sound plan.
When they see bitcoin is going through a significant setback/change, then they take a real step by joining an altcoin. because the current ETH type of coin continues to struggle to outperform bitcoin.

Snappycoco

member

Activity: 534

Merit: 19

Quote from: Caldear on July 09, 2021, 03:16:52 AM

When people saw the value of Bitcoin, they also created various altcoins. It will run away after harvesting and have no real value. Although these coins are not reliable, there will be some people who are willing to bet that altcoins can explode. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？

You should not judge and generalized all these alts. First is that many alternative coins are used and have utility that determine their prices. Some of this alt coins are even richer in feature compare to Bitcoin. I know many projects are coming out scam after being successful and that's where our investigative instinct should appear.

CryptoGuy42

newbie

Activity: 26

Merit: 0

Quote from: FlamingFingers on July 21, 2021, 04:45:14 AM

One of the main reasons why we have lots of altcoin out there is the fact that scammers are trying to capitalize on the fact lots of new people joining crypto do fall easily for them, majority of the altcoins in the market has no future plans, most especially the meme and lending coins, so its no surprise seeing them being rampant

I believe I said this before in this discussion or one on the site. I think a lot of new investors could get burnt with the GME/AMC/DOGE boom.
I hope they find cool projects like Black Eye Galaxy to invest in. I am excited about this as I have always wanted to own a planet and now is my chance. Also being able to get returns is massive!

seramania

full member

Activity: 827

Merit: 100

Altcoins are an alternative for people who have little money, besides competing altcoins offer many advantages. so on that basis why many teams develop altcoins and can be crowded in the market

Garsipop

jr. member

Activity: 123

Merit: 1

Quote from: altixz on July 18, 2021, 09:22:25 AM

Quote from: JackieAinsley on July 12, 2021, 07:22:58 AM

Now, during the fall of the cryptocurrency market, it is very important to attract attention to yourself so that people notice the project. Here is an example of how to attract attention to yourself - https://dragonbite.medium.com/dragonbite-announces-uniswap-ido-with-a-ferrari-8beebe4f0f13

When the market falls, there will be fewer participants, so the chances of winning a Ferrari California will be greater.

The main thing is that the prize was won and people would actually get a Ferrari California. Although during the fall of the market, the popularity of cryptocurrencies decreases.

anandaijun

full member

Activity: 294

Merit: 100

Quote from: Caldear on July 09, 2021, 03:16:52 AM

When people saw the value of Bitcoin, they also created various altcoins. It will run away after harvesting and have no real value. Although these coins are not reliable, there will be some people who are willing to bet that altcoins can explode. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？

Investing in the short term in my opinion is a good thing to do when market conditions are messy. Choose coins that can get a little profit when we sell them again, such as Doge coins or other good coins to buy.

FlamingFingers

sr. member

Activity: 1344

Merit: 288

One of the main reasons why we have lots of altcoin out there is the fact that scammers are trying to capitalize on the fact lots of new people joining crypto do fall easily for them, majority of the altcoins in the market has no future plans, most especially the meme and lending coins, so its no surprise seeing them being rampant

thesosorr

full member

Activity: 691

Merit: 100

Quote from: Caldear on July 09, 2021, 03:16:52 AM

When people saw the value of Bitcoin, they also created various altcoins. It will run away after harvesting and have no real value. Although these coins are not reliable, there will be some people who are willing to bet that altcoins can explode. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？

When people make a profit investing in Bitcoin and reinvest in Altcoins, to me that's great.
Investing in Cryptocurrencies nowadays, I think it's good to do not in large amounts. Choose Altcoins that have good potential when investing in Altcoins.

CryptoGuy42

newbie

Activity: 26

Merit: 0

Quote from: ?? on ??

Quote from: Jack_Sin on July 18, 2021, 09:44:03 AM

Quote from: ?? on ??

That's because everyone is free and easy to make altcoins, some can even be made at a low cost, sometimes I am sad because some bad guys utilize this for fraud, therefore be careful, always choose coins that have a potential future.

Supposedly the token generation fee can be used by competent people in the blockchain field but in the free market everyone can meet the token generation fee so many new scam projects, more and more new scam projects are added so you have to be careful to analyze the project before investing.

Don't too quick investing with new coins, always find the good reason behind and make sure that there's true usages in the long run,
make sure you are good in doing your research,

It helps a lot if you will do your decent recent and keep digging deeper with the project that you wanted to support, everyday there
are many alts being created, make sure not to fall with sweet promises but always do your DYOR.

I think this gets lost with a lot of new investors, the whole DYOR research thing. I lot of people made a lot of money with GME/AMC/DOGE, but also a lot of people lost a lot of money.
New investors don't know how to DYOR properly, I didn't when I started.
What do you think about an upcoming project like Black Eye Galaxy? I am personally excited that I can own a planet and make returns on it in several ways. Have you looked into that project? I am curious your opinion.

leea-1334

hero member

Activity: 2338

Merit: 953

Temporary forum vacation

Quote from: CryptoGuy42 on July 19, 2021, 06:48:40 AM

I don't agree with you. You can buy a fraction of a bitcoin, so if you can only afford $100 of BTC, then buy $100 of BTC if you believe in the crypto.
Alt coins, in my opinion, try to solve an issue that BTC cannot do or is to expensive to do. Healthy competition is also great.

I honestly still cannot believe that after all these years,,, people still believe in this "BTC is too expensive to buy nonsense". Ok, fine, yes if you want to buy tiny amounts lower than $100 it is quite difficult to find exchanges who will do this without charging you crazy fees to withdraw BUT it is still possible with P2P.

Altcoins the costs are actually the same when people realize it. Slippage is horror.

CryptoGuy42

newbie

Activity: 26

Merit: 0

Quote from: darahjuang on July 17, 2021, 01:12:57 AM

The purpose of Altcoins according to my short knowledge is just to make things easier. This means that when people cannot afford to buy Bitcoin because it is expensive, then Altcoins are another option for people to invest. What is happening now is that many people make the wrong decisions when buying coins.

I don't agree with you. You can buy a fraction of a bitcoin, so if you can only afford $100 of BTC, then buy $100 of BTC if you believe in the crypto.
Alt coins, in my opinion, try to solve an issue that BTC cannot do or is to expensive to do. Healthy competition is also great.
ADA is trying to compete with ETH with smart contracts. One might fail, both or both will continue to grow.
I am looking at new projects like BYG that actually have use in the upcoming decentralized NFT "game" Black Eye Galaxy. Holding assets in Black Eye Galaxy can actually bring you high gains. Those are the type of projects I look at. Projects I can understand and see how they work. You should check them out.

Devifajarina

full member

Activity: 602

Merit: 102

Trident Protocol | Simple «buy-hold-earn» system!

Quote from: Caldear on July 09, 2021, 03:16:52 AM

When people saw the value of Bitcoin, they also created various altcoins. It will run away after harvesting and have no real value. Although these coins are not reliable, there will be some people who are willing to bet that altcoins can explode. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？

I think all coins have the opportunity to go up, indeed not all coins are able to be at the maximum number, but each coin has more value for investment lovers, even investing in altcoins does not require such a large capital.

These are the factors why altcoins continue to be created, firstly to open up opportunities for coins with high selling values, secondly to stabilize the market so that they do not continue to be manipulated by the powerful and thirdly to make it easier for beginners to invest.

This reason is quite logical in my opinion, it is impossible for altcoins to be made in many versions if they do not stabilize the market, without their presence it is certain that the price of BTS and Ethereum may be very high in purchase value.

Ziskinberg

hero member

Activity: 3010

Merit: 666

Quote from: Saisher on July 17, 2021, 07:55:24 AM

Quote from: Bitcoinjheta on July 17, 2021, 02:21:53 AM

As you can see on the coinmarketcap list over 10,933 coins are being competing to make the best coin next to bitcoin. And we all know only few coins will survive over the years which have its real used coin. It comes to the point that altcoins are best alternative investments coin when value of bitcoin is really expensive.

I would not even look at coins that are beyond 100 if I am going to invest, if you are going to invest it's important that you look at the volume and the exchange where is traded, it should be on top of exchange and they have a product that they can offer to the community and a platform, that will contribute to the enhancement of Cryptocurrency.

I preferred most in the top altcoins in the market rather than wasting my time searching for new projects. The number of altcoins keeps growing almost everyday but look, the majority of them are worthless and shameful projects. I don't how this be going to happen but I feel that it helps to destroy the market image and even to give fear for the community that they will just only lose their money of they will invest.

Jack_Sin

full member

Activity: 548

Merit: 100

Quote from: ?? on ??

That's because everyone is free and easy to make altcoins, some can even be made at a low cost, sometimes I am sad because some bad guys utilize this for fraud, therefore be careful, always choose coins that have a potential future.

Supposedly the token generation fee can be used by competent people in the blockchain field but in the free market everyone can meet the token generation fee so many new scam projects, more and more new scam projects are added so you have to be careful to analyze the project before investing.

Topic: Why altcoins are rampant in the market - page 2. (Read 1305 times)