Why are investors so sceptical about Altcoins? - page 5.

Cryptoababe

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Quote from: Ojima-ojo on February 25, 2023, 09:15:38 AM

I am not an altcoin fan but lately, I have spent some time on the alternative cryptocurrency board and I have seen a lot of topics bordering around whether or not to buy some coins and this makes me wonder why altcoins investors are full of uncertainty and always wanting to know the opinion of others before they invest.

Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?

Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?

Most investors are sceptical about altcoins because the project behind some altcoins have a very special usecase. Imagine how ethereum have helped developers and crypto users have a better life like bitcoin early investors had. Thats one advantage of some altcoins. I mostly use exchanges that list altcoins with better use case like Bybit, MEXC and Gate because I know how some altcoins have changed so many people's life.

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All because of the trust and high risk of investing in altcoins. For now I think BTC, ETH and BNB are the main players in the cryptocurrency world and they are the basis for buying other crypto assets aka altcoins. It's too risky. You like betting. Because if you are lucky you will be able to buy a coin at a price that will go to the moon some time after. But people are skeptical because if you fail, then you have to be prepared to lose your money. And the thing is there are so many altcoins you have to choose from to find those gem coins.

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Quote from: wxa7115 on March 03, 2023, 11:50:07 PM

Quote from: Marvell1 on March 03, 2023, 10:39:53 PM

Quote from: Questat on March 03, 2023, 06:17:47 AM

Quote from: Awaklara on March 03, 2023, 04:40:20 AM

Quote from: Luffygroove on March 02, 2023, 11:46:01 PM

Before putting their money into alternative cryptocurrencies, people have a variety of reasons for wanting to investigate the opinions of others first. One possible explanation is the notoriously high risk and volatility associated with cryptocurrencies. It's also possible that some purchasers will operate under the assumption that other people have the knowledge necessary to evaluate and select the best coins for investment purposes. Another reason buyers might look to the opinions of others is to validate their own beliefs and hypotheses regarding the cryptocurrency market by comparing them to those of other people.

trying to get input and opinions from others before putting their money into altcoins is certainly a good thing. it will be a consideration for every investor before purchasing. but those who are more experienced have their way of determining the projects they will invest in.
most of them own altcoins only for the short term. it also depends on the project. Not many new altcoins last long on the market, once they are traded they are quickly discarded.
those who like to invest following the hype will be fine with their experience. but for beginners, it will just throw their money in a shitcoin trap.

Choosing altcoins for long-term investment is not really a good idea. And even ETH, I don't consider it as well. I don't say it was because I don't trust them but as we can see, they are heavily affected when there is a market crisis and it dumps more, some just die. That is why people are asking as they also wanted to know what their experience was from a particular project so they already have some ideas. And for beginners, this could be necessary but of course, making our own research is indeed important.

I also don't consider altcoins a good long-term investment, but ETH's case is very different from the rest. While ETH would also be hit hard if the market crisis, it would be fairer to see that ETH has also existed alongside bitcoin for a long time and cannot be replaced by anyone, and if you pay attention, you can see that it can even be more profitable than bitcoin during the 2021 bull season. Bitcoin was the creator of this market, but ETH helped the market grow to where it is today, all altcoins today are copied from ETH. ETH is also a pillar as well as a huge contributor to the market.

And once you really think about it we can easily tell why ethereum should be considered to be much stronger than your average altcoin, and this is because ethereum has in fact many coins running over its network to the point we can consider ethereum as hundreds of altcoins.

Even then I will still be way more careful with ethereum than with bitcoin, but I also be way more careful with other altcoins than with ethereum, as etheruem has gained that preferential treatment over the years.

Of course, ethereum cannot compare to bitcoin in terms of safety, but it is not as bad as other altcoins, it still deserves to be considered a good investment besides bitcoin in the crypto market. Indeed, there are many opportunities to make good profit in this market, but if we only know bitcoin, then we are just wasting our chance. To be safe, focus on bitcoin, but also don't ignore ETH or BNB, both are opportunities for us to make huge profits.

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The reason why altcoin investors are often uncertain and seek opinions from others before investing can be attributed to several factors. Firstly, the cryptocurrency market is highly volatile, and altcoins are even more so than Bitcoin, making it challenging for investors to make informed decisions. Secondly, the lack of regulation and standardization in the altcoin market can make it difficult for investors to evaluate the quality and potential of various altcoins, leading them to seek the opinions of others with more knowledge or experience. Lastly, some investors may be looking for guidance from those who have experience in analyzing and evaluating altcoins. The combination of these factors can make it challenging for investors to determine which altcoins to invest in, leading to uncertainty and the need for opinions from others.

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when we see many altcoins being created and then the owners of these altcoins abandon such altcoins and the price of such altcoins drops a lot and people lose money with this, it makes sense that people start to fear investing in altcoins, look at the times of ICOs how many people lost money, there were many people who lost money, altcoins are a danger in this crypto market, many altcoins still cannot reach their previous ATH, and are far from it, but there were hundreds of people who bought these altcoins in 2018 on their ATH , it's a scary scenario, of course the lucky people who buy early will always defend the altcoins

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As you can see there are lots of altcoins that you can choose but some of it are not worth to invest like not being trend to many or doesn't have the quality let's put it that way where it will help the altcoin's price increase that could bring profit to investors. New altcoins is not sure that it will be successful in the future that's why many people will give advice that it is much better if you invest in coins rather than altcoins. As you have known, coins existed already before altcoins are created like Bitcoin for example.

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Quote from: Anonylz on March 04, 2023, 02:30:59 PM

Most alternative coins can't be trusted even though a few have proven to be trusted with their long term building and development the majority are risky and untrusted.
A quick google search about altcoins scams will give you the picture, the reason why most investors are skeptical and scared to buy or even hold altcoins for long term. Most altcoins are for short term, BTC is for long term investment.

We cannot really blame investors for this negative attitude they have towards altcoins, if the developers behind those altcoins want to force a change on the opinions of those people then they need to look at the mirror and make a great deal of changes to how they carry themselves and their projects, and if they do not do this then they do not have any right to complain about the attitude investors have towards them and their projects.

Anonylz

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Most alternative coins can't be trusted even though a few have proven to be trusted with their long term building and development the majority are risky and untrusted.
A quick google search about altcoins scams will give you the picture, the reason why most investors are skeptical and scared to buy or even hold altcoins for long term. Most altcoins are for short term, BTC is for long term investment.

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Quote from: Awaklara on March 03, 2023, 04:40:20 AM

trying to get input and opinions from others before putting their money into altcoins is certainly a good thing. it will be a consideration for every investor before purchasing. but those who are more experienced have their way of determining the projects they will invest in.
most of them own altcoins only for the short term. it also depends on the project. Not many new altcoins last long on the market, once they are traded they are quickly discarded.
those who like to invest following the hype will be fine with their experience. but for beginners, it will just throw their money in a shitcoin trap.

You have to be careful about that part though. I mean if you talk with others and somehow only pick shillers then you are going to invest into something that makes no sense and a terrible investor, if you talk with just haters then you are going to miss a good chance.

So, when you are researching about a project, and want to talk with people, try to find both sides, find why shillers shill for it and why they like it so much, and if they could give you a better response than cliche stuff, and try to find haters and see why they hate it and see if they are right or wrong about it. That way you could see if it is actually good or not.

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Quote from: Ojima-ojo on February 25, 2023, 09:15:38 AM

Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?

Because of the uncertainty of altcoins, moreover new altcoins make many people worry so much with the high risks. This is one of the reasons why people, or I personally, prefer to stay away from investing in altcoins, moreover for long-term period. for, I personally have had several bad experiences of losing money because of altcoins, until now, they are still in my wallet, seem useless.

Quote from: Ojima-ojo on February 25, 2023, 09:15:38 AM

Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?

Btw, for people who are skillful, yeah, they are really able to utilize altcoins investment to gain very high profits. I know some people who are mostly taking high profits by investing in new projects, by joining their token sale, and finally able to earn much money because of the high profits. Or, some people who are buying new tokens at a very low prices and able to sell the tokens at the very right time to get high profits. Actually, there are many people who are skillful for this. And they are aware of the risks. Sometimes, they may meet the risk of losing money. But they can cover it by taking higher profits from other investments. However, although it seems to be evry worthy, this is exactly not recommend for newbies.

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Quote from: Ojima-ojo on February 25, 2023, 09:15:38 AM

I am not an altcoin fan but lately, I have spent some time on the alternative cryptocurrency board and I have seen a lot of topics bordering around whether or not to buy some coins and this makes me wonder why altcoins investors are full of uncertainty and always wanting to know the opinion of others before they invest.

Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?

Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?

In addition to generating profits for its traders, altcoins have also caused account liquidation. The most common factors preventing investors from entering the market with the intention of choosing the best altcoins in the area are FOMO and FUD. Market losses and gains must both be initiated because they are the only indicators of whether a trader is liquidating trading accounts or refraining from higher stages. With few legitimate projects available, extreme market volatility and hazards have become the norm. There is a likelihood that one will either make profits or losses from seeking out other opinions on the cryptocurrencies to invest in.

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Quote from: Ojima-ojo on February 25, 2023, 09:15:38 AM

I am not an altcoin fan but lately, I have spent some time on the alternative cryptocurrency board and I have seen a lot of topics bordering around whether or not to buy some coins and this makes me wonder why altcoins investors are full of uncertainty and always wanting to know the opinion of others before they invest.

Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?

Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?

The answer to this questions is "huge profit", and of course along with the higher risk and lower chances of getting to the goal. Some people are actually looking to make a x10 or even more profit and then came asking here for a potential alts when the reality is, nobody knows what coin will take off next.
Sometimes they get frustrated and tired doing their due diligence, so they think a crowd sourcing probably works.

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Quote from: Marvell1 on March 03, 2023, 10:39:53 PM

Quote from: Questat on March 03, 2023, 06:17:47 AM

Quote from: Awaklara on March 03, 2023, 04:40:20 AM

Quote from: Luffygroove on March 02, 2023, 11:46:01 PM

Before putting their money into alternative cryptocurrencies, people have a variety of reasons for wanting to investigate the opinions of others first. One possible explanation is the notoriously high risk and volatility associated with cryptocurrencies. It's also possible that some purchasers will operate under the assumption that other people have the knowledge necessary to evaluate and select the best coins for investment purposes. Another reason buyers might look to the opinions of others is to validate their own beliefs and hypotheses regarding the cryptocurrency market by comparing them to those of other people.

trying to get input and opinions from others before putting their money into altcoins is certainly a good thing. it will be a consideration for every investor before purchasing. but those who are more experienced have their way of determining the projects they will invest in.
most of them own altcoins only for the short term. it also depends on the project. Not many new altcoins last long on the market, once they are traded they are quickly discarded.
those who like to invest following the hype will be fine with their experience. but for beginners, it will just throw their money in a shitcoin trap.

Choosing altcoins for long-term investment is not really a good idea. And even ETH, I don't consider it as well. I don't say it was because I don't trust them but as we can see, they are heavily affected when there is a market crisis and it dumps more, some just die. That is why people are asking as they also wanted to know what their experience was from a particular project so they already have some ideas. And for beginners, this could be necessary but of course, making our own research is indeed important.

I also don't consider altcoins a good long-term investment, but ETH's case is very different from the rest. While ETH would also be hit hard if the market crisis, it would be fairer to see that ETH has also existed alongside bitcoin for a long time and cannot be replaced by anyone, and if you pay attention, you can see that it can even be more profitable than bitcoin during the 2021 bull season. Bitcoin was the creator of this market, but ETH helped the market grow to where it is today, all altcoins today are copied from ETH. ETH is also a pillar as well as a huge contributor to the market.

And once you really think about it we can easily tell why ethereum should be considered to be much stronger than your average altcoin, and this is because ethereum has in fact many coins running over its network to the point we can consider ethereum as hundreds of altcoins.

Even then I will still be way more careful with ethereum than with bitcoin, but I also be way more careful with other altcoins than with ethereum, as etheruem has gained that preferential treatment over the years.

Marvell1

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Quote from: Questat on March 03, 2023, 06:17:47 AM

Quote from: Awaklara on March 03, 2023, 04:40:20 AM

Quote from: Luffygroove on March 02, 2023, 11:46:01 PM

Before putting their money into alternative cryptocurrencies, people have a variety of reasons for wanting to investigate the opinions of others first. One possible explanation is the notoriously high risk and volatility associated with cryptocurrencies. It's also possible that some purchasers will operate under the assumption that other people have the knowledge necessary to evaluate and select the best coins for investment purposes. Another reason buyers might look to the opinions of others is to validate their own beliefs and hypotheses regarding the cryptocurrency market by comparing them to those of other people.

trying to get input and opinions from others before putting their money into altcoins is certainly a good thing. it will be a consideration for every investor before purchasing. but those who are more experienced have their way of determining the projects they will invest in.
most of them own altcoins only for the short term. it also depends on the project. Not many new altcoins last long on the market, once they are traded they are quickly discarded.
those who like to invest following the hype will be fine with their experience. but for beginners, it will just throw their money in a shitcoin trap.

Choosing altcoins for long-term investment is not really a good idea. And even ETH, I don't consider it as well. I don't say it was because I don't trust them but as we can see, they are heavily affected when there is a market crisis and it dumps more, some just die. That is why people are asking as they also wanted to know what their experience was from a particular project so they already have some ideas. And for beginners, this could be necessary but of course, making our own research is indeed important.

I also don't consider altcoins a good long-term investment, but ETH's case is very different from the rest. While ETH would also be hit hard if the market crisis, it would be fairer to see that ETH has also existed alongside bitcoin for a long time and cannot be replaced by anyone, and if you pay attention, you can see that it can even be more profitable than bitcoin during the 2021 bull season. Bitcoin was the creator of this market, but ETH helped the market grow to where it is today, all altcoins today are copied from ETH. ETH is also a pillar as well as a huge contributor to the market.

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if someone has doubts about altcoins, the answer is natural.
because bitcoin and altcoins certainly have differences, because investing in altcoins is very risky, different from bitcoin.
so if there are people who want to invest in altcoins, don't be surprised if they ask everyone about these altcoins.
because indeed to invest in altcoins you have to know about the project and so on.

JeffBrad12

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you should be sceptical in observing many of new project that is to make you find some good project out of many that's just outright bad enough for it to fail in the long run.
there's certainly reason why even many veterans recommends such scepticism, mainly so that the money will flow into the right project basically boosting these good project instead of being wasted and getting in scammers wallet, therefore it's common sense.

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Quote from: Awaklara on March 03, 2023, 04:40:20 AM

Quote from: Luffygroove on March 02, 2023, 11:46:01 PM

Before putting their money into alternative cryptocurrencies, people have a variety of reasons for wanting to investigate the opinions of others first. One possible explanation is the notoriously high risk and volatility associated with cryptocurrencies. It's also possible that some purchasers will operate under the assumption that other people have the knowledge necessary to evaluate and select the best coins for investment purposes. Another reason buyers might look to the opinions of others is to validate their own beliefs and hypotheses regarding the cryptocurrency market by comparing them to those of other people.

trying to get input and opinions from others before putting their money into altcoins is certainly a good thing. it will be a consideration for every investor before purchasing. but those who are more experienced have their way of determining the projects they will invest in.
most of them own altcoins only for the short term. it also depends on the project. Not many new altcoins last long on the market, once they are traded they are quickly discarded.
those who like to invest following the hype will be fine with their experience. but for beginners, it will just throw their money in a shitcoin trap.

Choosing altcoins for long-term investment is not really a good idea. And even ETH, I don't consider it as well. I don't say it was because I don't trust them but as we can see, they are heavily affected when there is a market crisis and it dumps more, some just die. That is why people are asking as they also wanted to know what their experience was from a particular project so they already have some ideas. And for beginners, this could be necessary but of course, making our own research is indeed important.

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Quote from: Luffygroove on March 02, 2023, 11:46:01 PM

Before putting their money into alternative cryptocurrencies, people have a variety of reasons for wanting to investigate the opinions of others first. One possible explanation is the notoriously high risk and volatility associated with cryptocurrencies. It's also possible that some purchasers will operate under the assumption that other people have the knowledge necessary to evaluate and select the best coins for investment purposes. Another reason buyers might look to the opinions of others is to validate their own beliefs and hypotheses regarding the cryptocurrency market by comparing them to those of other people.

trying to get input and opinions from others before putting their money into altcoins is certainly a good thing. it will be a consideration for every investor before purchasing. but those who are more experienced have their way of determining the projects they will invest in.
most of them own altcoins only for the short term. it also depends on the project. Not many new altcoins last long on the market, once they are traded they are quickly discarded.
those who like to invest following the hype will be fine with their experience. but for beginners, it will just throw their money in a shitcoin trap.

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Before putting their money into alternative cryptocurrencies, people have a variety of reasons for wanting to investigate the opinions of others first. One possible explanation is the notoriously high risk and volatility associated with cryptocurrencies. It's also possible that some purchasers will operate under the assumption that other people have the knowledge necessary to evaluate and select the best coins for investment purposes. Another reason buyers might look to the opinions of others is to validate their own beliefs and hypotheses regarding the cryptocurrency market by comparing them to those of other people.

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Quote from: Ojima-ojo on February 25, 2023, 09:15:38 AM

~

Rug pulls, scams, frauds, uncertainties, more volatile than Bitcoin, risk of it being worthless or no value at all, price manipulation, pump and dump schemes.

I guess these are just some of the reasons why investors are very skeptical about Altcoins. They are asking because they want validation from other people. They want to know if a particular altcoin is worth it to invest or not, but the reality is it doesn't help them at all. Asking an altcoin whether to buy or not isn't a good thing to do (at least for me). I will cite an example. Let's say Coin X is just a new coin that just been listed and the risk is very high. Now a user asked it here, and many said that it's good to buy for some reasons. Will the user follow what others said even though the risk is very high that it's close to a scam or rug pull?

People are skeptical in investing into altcoins because of what I said above, and that's the reason why I'm only focusing on top altcoins. I don't want to ask all of you here if this particular coin is good to buy or not.

Topic: Why are investors so sceptical about Altcoins? - page 5. (Read 928 times)