Why are investors so sceptical about Altcoins? - page 8.

TimeTeller

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Quote from: goaldigger on February 25, 2023, 05:51:09 PM

The risk are higher with the altcoins since cryptomarket depended on Bitcoin and with the altcoins you might encounter a scam project which i think is very possible. Altcoins are also more prone to hacked, that’s why many are afraid to invest at first which as an investment most of them prefer to have an assurance that Bitcoin can give despite of the volatility. If you are not sure about where to invest in altcoins, Bitcoin is the best option for you. There’s also a good opportunity in Altcoins, just do your best to spot the good project.

As we have seen, a lot of alts turned to be a scam, a pump and dump, a haven for most fraudsters.
Very few alts made it to the top 20 which survive long enough, consider that there are thousands of them.
So you can see the percentage of successful alts is really very small. It means, most of them are not trustworthy.
This is the reason why most investors go back to top 5 coins or only to btc. Because they know, it will still be there when they wake up the next day.
Most alts can easily go down the drain without a warning, especially if the dev team decided to cash out and leave.

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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?

No special skills but are the same as the traders who can read the charts for every coin they choose. What's risky in altcoin is that they're highly volatile and yes, more volatile with bitcoin because the uncertainty there is higher because many of them are just being launched and don't have enough history to be considered. It's more luck than skills when there are folks that have made tremendous money there. I've done it myself but I'm no genius nor expert, it just so happens that I've got lucky.

goaldigger

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The risk are higher with the altcoins since cryptomarket depended on Bitcoin and with the altcoins you might encounter a scam project which i think is very possible. Altcoins are also more prone to hacked, that’s why many are afraid to invest at first which as an investment most of them prefer to have an assurance that Bitcoin can give despite of the volatility. If you are not sure about where to invest in altcoins, Bitcoin is the best option for you. There’s also a good opportunity in Altcoins, just do your best to spot the good project.

trendcoin

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Quote from: Minecache on February 25, 2023, 09:39:49 AM

Quote from: Beparanf on February 25, 2023, 09:22:13 AM

... I believe the reason behind why most people suggest to invest only on Bitcoin here is because this is Bitcointalk and people preferred Bitcoin due to its feature.

Maybe this is the reason, since we are in bitcointalk and most people here just like bitcoin, they are bitcoinists, so we won't see too much altcoins advice here. Honestly, I've joined a few local investment groups on social media, and I've found that most of the people invest mainly in altcoins. Very few people invest in bitcoin because they think altcoins will make them rich faster than bitcoin. And they are all willing to take the risk to invest in altcoins, and during the bull season of 2021, many people got rich quickly by investing in memes, altcoins.

Yes, there are a lot of Bitcoin maximalists here, and that's why there are so many people who have negative views about altcoins. However, Bitcoin maximalists have rational reasons to become Bitcoin maximalists. One of them can easily be seen by looking at the historical page of Coinmarketcap (https://coinmarketcap.com/historical/). In my opinion, people who do not have enough experience should definitely stay away from altcoins.

Furious 7

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Given the condition of a higher risk when compared to bitcoin, it is certain that many people are not too sure about altcoins, especially when it is easy to make several projects that are only for personal gain and end up being useless coins or tokens. reasonable I think.
But that doesn't mean that there aren't any decent coins for altcoins, it's just that if you choose certainty, it's certain that bitcoin is the main place that makes altcoins not pay attention to some people.

tvplus006

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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? ...

This is not a completely correct statement. Large capital invests in new coins at the seed round when the coin price is minimal. But before investing in a new project, the investor conducts a comprehensive assessment of the startup and the amount of potential profit that this investment can bring.

Johnyz

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They are not afraid with the altcoins, probably they are not confident with their investment decision and that’s why they are asking for some insights with their possible decisions to make. Altcoins are very volatile same as Bitcoin, there’s a risk and many are afraid to lose money. I’m also skeptical with Altcoins especially with the new project, just do your due diligence before investing and make sure you are dealing with good projects.

MAAManda

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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?

You mean the reason there are people who choose altcoins? If yes, then the answer is yes, people who choose to invest in altcoins because mainly altcoins have a pretty good price increase potential (because usually the MC in altcoins is far from the Bitcoin MC itself).

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?

That's right, people on altcoin discussion boards ask about certain altcoins because altcoins have a different method of analysis than Bitcoin, in particular, things include the technology in that altcoin, the ecosystem, as well as general things like adoption and good news about the altcoin.

cryptomaniac_xxx

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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?

As you have said, high risk, high rewards, and it's more of a gambling so people are willing to take that risk in some obscure projects. And others love that, the uncertainty, but for us who have been in the market already, seen one full cycle, it's enough to say that we don't like that kind of volatility and risk.

But don't get me wrong, or at least those who live this strategy, that's your money and you can invest it to projects that you believed will give you x100 or higher if that is your target. But personally, I would rather stick to more reliable and solid projects.

TheUltraElite

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Altcoins are in short a risky investment compared to bitcoin.

Picking coins that can perform, well I am yet to see someone who can do that perfectly or near-perfectly, because in reality it is a gamble to pick them. Newly launched altcoins should be observed for a period of at least two years to make the decision of investing. In most cases they will flop before this period.

It is correct to be skeptical about these projects because their products are often non-existant and they lack marketing making capability. With sudden changes in management and silence about development, investors have all the right to be judgemental.

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That's because they want to know what coins they can invest in altcoins that people have chosen. Maybe they have a hard time choosing their coins, even if they are at the top of the coin list so they feel the need to ask someone else.

Or maybe people are investing in altcoins out of curiosity and limited capital they want to use to invest in crypto. So they choose altcoins, especially low priced altcoins as their investment. But if they are not careful in choosing their altcoins, they will not be able to benefit later.

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Personally, I see that the reason is short-term investment due to greed. You see that bitcoin rises by 5%, but some alternative currencies by 30%, so you are tempted to invest and buy more bitcoin for free.
On the other hand, developers of altcoins print these coins in hopes of buying bitcoin or converting it into cash.
Therefore, the feeling of greed is temporary, and you need people to tell you that you are right and that you will make quick investments.

vv181

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The rate that altcoins or tokens that truly have a practical benefit to the user and a utility are extremely low compared to the one who does not. Finding or analysing altcoins is like separating the wheat from the chaff. One also requires distinguishing between a project who is short-lived and another one that has the potency to grow.

There isn't any special skill required to play around within the altcoin market, although skin in the game helps. In the basic senses, common sense plays a lot. For example, the current hype is AI. We know that there are many companies that achieve significant progress without the necessity or prerequisite need of a blockchain or token or coin, so, when there is a crypto that intersects with AI, we know that the project is very likely a shady one.

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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.

You can't blame people the majority of investors lose money on altcoins that they think are good and with potential they don't want to repeat the same mistake, so they validate their opinions about coins/tokens that they want to invest, I sometimes do it, ask my fellow investors if my analysis and feelings are correct.

Quote

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

One of these is the behavior of the developers, they stop the project, and they failed to continue the roadmap and upgrade the platform because they already got the money and they don't want to invest in marketing and upgrading their platform

Quote

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?

There's no such thing as perfect investors, investors are on a hit-and-miss, not all of the coins/tokens they've invested are profitable, and sometimes they got even, or lose when the majority of their coins are crashing.

PrivacyG

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They are full of uncertainty because Altcoins are risky enough to sit somewhere close to the gambling kind of risk. Altcoins are known to be especially volatile and most of them fall out and die. By investing in one, you are choosing between investing in things that have a slight chance of success, a generally high rate of failure and scams and if you get to be lucky enough to invest in something with actual value that will turn big in years, consider yourself one of the very very few very lucky ones.

Many such projects destroyed lives. LUNA is the most recent example I think. Even Bitcoin is a risky investment. Altcoins are worse.

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PrivacyG

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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?

It's because regardless of the number of altcoins out there in the market, the really good/proper projects are in the absolute minority. Even in rare instances of altcoins doing well, they end up dying later on and not really progressing much.

There are also a LOT of questions around it since there are a LOT of coins out there that come and go quickly. Naturally people new to the scene would probably ask around, though in the end most of the recommendations they get just end them up to investing in the top 100 altcoins or so.

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Quote from: Beparanf on February 25, 2023, 09:22:13 AM

... I believe the reason behind why most people suggest to invest only on Bitcoin here is because this is Bitcointalk and people preferred Bitcoin due to its feature.

Maybe this is the reason, since we are in bitcointalk and most people here just like bitcoin, they are bitcoinists, so we won't see too much altcoins advice here. Honestly, I've joined a few local investment groups on social media, and I've found that most of the people invest mainly in altcoins. Very few people invest in bitcoin because they think altcoins will make them rich faster than bitcoin. And they are all willing to take the risk to invest in altcoins, and during the bull season of 2021, many people got rich quickly by investing in memes, altcoins.

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That probably came from all the negative stuff that happened with projects. With all the rug-pulls, unexpected liquidation of assets, hacking, etc., surrounding altcoin projects. Especially in this forum, a lot of people, or a majority of people, are more into BTC here rather than altcoins; that's why you have seen that fewer people want to invest in different types of projects.

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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?

Being a high risk alone is already enough to become skeptical on any thing especially on investment. Also statistically wise, Almost the majority of altcoin is useless or turn into scam and only few has real use case that can generate profit for project sustainability.

It’s not bad to invest in altcoin if you knew what you are entering. I believe the reason behind why most people suggest to invest only on Bitcoin here is because this is Bitcointalk and people preferred Bitcoin due to its feature.

Ojima-ojo

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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?

Topic: Why are investors so sceptical about Altcoins? - page 8. (Read 928 times)