Why you should be very careful with alts - page 2.

stadus

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Quote from: Sebas.tian on January 08, 2023, 11:08:36 PM

Quote from: TravelMug

Yeah, majority of it is just pure pump and dump.

Yes, that's why traders need to be careful with such altcoins in the market because is not advisable to invest in a projects that will not bring good result in the future. Some traders that invested huge amount of capital on a particular project without Carry out research to know if the project will fail in the future or not before investing, make many to experienced losses at the end of the project. If you can make Ethereum your choice in this season of bearish, I think it will bring more opportunities that will make you to improve in profits making in the community.

There is one thing we have to do upon investing altcoins and that is to put money in a trusted coin, not a new project or it has no working platform.
If we carry this kind of mindset, I think everyone is safe from getting scammed. But unfortunately, it never works like that as greedy people easily got tempted by new projects who promise big rewards. If could manage to control this thing (greed) I could really imagine that these worthless projects will die and nothing will come anymore.

oaz7t

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I will add another reason to stay away from (most of) the altcoins and thats they are ponzi based
and they are here just to make money for themselves and nothing else. The only alts that have
been worth it are still alive since many years, getting increased volume everyday and thus
having more stake based economy as well. They are some real deals. However, by now
everyone should know the difference between which one is scam and which one is legit. Crypto
has already taught us so many lessons and shown so many types of scams that its far more
easier to know whose the scammer and whose gonna stand out of the crowd after release. In
the initial days, everything was fresh and the market was underestimated. Everyone used to
think that this alt is the next bitcoin so they used to jump into every alt thats coming out. I think
we learnt the lesson now and its time we do not go and buy every alt that is on the market.

Valeriary

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Many well-known altcoins did not survive this winter. Altcoins are all about making money. Many technologies cannot support hacking attacks. But when we invest, we still think about choosing to invest in altcoins. Because altcoins can bring us considerable profits in the short term. Bitcoin can only be used as a store of value. I believe in Bitcoin like I believe in gold. Therefore, more considerations will be made when investing in altcoins. Caution is necessary. Your money only you know the loss or profit.

Sebas.tian

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Quote from: TravelMug

Yeah, majority of it is just pure pump and dump.

Yes, that's why traders need to be careful with such altcoins in the market because is not advisable to invest in a projects that will not bring good result in the future. Some traders that invested huge amount of capital on a particular project without Carry out research to know if the project will fail in the future or not before investing, make many to experienced losses at the end of the project. If you can make Ethereum your choice in this season of bearish, I think it will bring more opportunities that will make you to improve in profits making in the community.

Chrlie95

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More and more regulations are coming for the blockchain in 2023. Until now, blockchain made its name heard and the next important thing for its progress is to catch up with regulations and provide compliance. Yes, blockchain is decentralized but still the people behind projects should be backed by trusted organisations.

We should avoid big promises (they are left behind), get too caught up in the hype and cut our losses whenever the company shows unwanted signs and go with the trusted projects. Also, we should seek compliance and small but regular progress that focuses on the function of the services.

TheGreatPython

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Quote from: fmz89 on January 08, 2023, 01:16:09 AM

Some people said this industrial magic coin, and “money perspective” shifting pretty fast, most of retail dont know dev/marketing lying about their project, some yield farming, play to earn, and many things, releasing money as peoples thoughts that was money, but NO, they just release token from thin air lol, just like your mine bitcoin, base reward (meaning this not money) + fee transaction (this was real money) or real economics

There are so many ways to tell if the devs are lying or if the project looks shady. The most common one would be if they promise that their project can give the investors a huge return for their money after a short period of time but unfortunately there are still a few who are hard to detect. They look so real and we will only be shocked that they have collapsed one day. This is the reason why the OP said that we should be very careful with alts.

Even if we say that they are a top alt as so many top alt before have also turned into a scam. One of it is the late luna. If we can't afford to lose big money then much better if we will just stick on the main coin. That will be none other than bitcoin.

TalkativeCoin

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Quote from: monineklutak on January 08, 2023, 04:10:49 AM

Quote from: Mr. Magkaisa on January 08, 2023, 12:55:44 AM

Because almost most altcoins are just shitcoins and scams. And those are often seen in IEOs, ICOs, IDOs, and others, so the community here in the crypto industry is cautious. Although, sometimes there are altcoins that can provide profit in the short term.

Perhaps this is one of the reasons why many gamble with this belief that they shouldn't, then end up crying when no profit returns to their capital.

It's not easy to find potential altcoins, it takes a lot of time to do research first,
especially with the current conditions which are bearish we also have to be patient,
The important thing is to always be careful before investing

I feel like the best chance for an altcoin to organically and "truthfully" grow within the realms of its (tech) ideology is to get picked up by a (non-crypto) legitimate project that sees it expanding its goals.

Other than that, if you filter away the non-honest altcoin projects that want to make it on their own, It's probably something along the line of the startup scene, one in ten will probably have some kind of perceived success.

monineklutak

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Quote from: Mr. Magkaisa on January 08, 2023, 12:55:44 AM

Because almost most altcoins are just shitcoins and scams. And those are often seen in IEOs, ICOs, IDOs, and others, so the community here in the crypto industry is cautious. Although, sometimes there are altcoins that can provide profit in the short term.

Perhaps this is one of the reasons why many gamble with this belief that they shouldn't, then end up crying when no profit returns to their capital.

It's not easy to find potential altcoins, it takes a lot of time to do research first,
especially with the current conditions which are bearish we also have to be patient,
The important thing is to always be careful before investing

Rufsilf

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Quote from: Mr. Magkaisa on January 08, 2023, 12:55:44 AM

Because almost most altcoins are just shitcoins and scams. And those are often seen in IEOs, ICOs, IDOs, and others, so the community here in the crypto industry is cautious. Although, sometimes there are altcoins that can provide profit in the short term.

It can't be denied that most of the altcoins are worthless in the real world of crypto but as we can see, many people are still looking for altcoins. Maybe it is because some of them are worth investing in and also ideal for long-term investment.

Quote

Perhaps this is one of the reasons why many gamble with this belief that they shouldn't, then end up crying when no profit returns to their capital.

It was wrong if we consider investing as gambling unless we invest blindly and really have no intention to make a profit.
People had lose their money from investing altcoins because they are investing the wrong coins.

fmz89

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Some people said this industrial magic coin, and “money perspective” shifting pretty fast, most of retail dont know dev/marketing lying about their project, some yield farming, play to earn, and many things, releasing money as peoples thoughts that was money, but NO, they just release token from thin air lol, just like your mine bitcoin, base reward (meaning this not money) + fee transaction (this was real money) or real economics

Mr. Magkaisa

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Because almost most altcoins are just shitcoins and scams. And those are often seen in IEOs, ICOs, IDOs, and others, so the community here in the crypto industry is cautious. Although, sometimes there are altcoins that can provide profit in the short term.

Perhaps this is one of the reasons why many gamble with this belief that they shouldn't, then end up crying when no profit returns to their capital.

wxa7115

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Bitcoin is GOD

Quote from: My ThuiHa on January 04, 2023, 03:05:48 AM

Bitcoin is the prime choice for long-term investment. Altcoins are the way to make profits in the short term. Altcoins are more risky than Bitcoin. Learn more about the project itself before investing in the altcoins you see. Don't be fooled by "surfaces". Many altcoin projects are scams. Don't trust strangers easily. No one wants others to be luckier and richer than themselves.

It is very important to not be fooled by the image that the scammers are trying to sell, scammers are very good at emulating good projects as not only they steal their image but they even steal their white paper and just change a few things here and there so their project looks to be a legitimate one.

However if you really do your due diligence you will see a few cracks on their facade, and you must never ignore them as those cracks should be enough of a read flag for you to ignore that project, however we need to also be honest and say there are some scams that are incredibly obvious, like those which offer a huge return on your investment, and yet those projects still gather millions of dollars from investors all the time.

bitgolden

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Quote from: posi on January 05, 2023, 04:41:54 AM

For me, altcoins are just a place to look for quick profits, we cannot expect any future development or they will be used in real life like what the developers did promise. The altcoin market has been growing for more than 10 years so far, and no project has been put into practice, all technology is on paper. So don't believe what they promise, all they want is money, leave them before they hurt you. Altcoins will never cease to be attractive, as long as there are hyped projects, they will always attract investors.

This is basically the correct way to approach the new coins. I mean if they just tell you that they will bring you some rocks from mars, would you really believe it? Obviously anyone who can do that would be already in big business, so do not believe the people who promise you the worlds. It's better to understand that we should not be focusing on anything that crypto world would do, it's going to be a bit of a trouble if you believe everything everyone says.

We should be comparing the world of crypto with stock world and that means it's not going to be always up, and not going to be always down, it's going to be in circles and that will be great for everyone.

posi

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Quote from: Questat on January 05, 2023, 04:21:11 AM

Quote from: Shinpako09 on January 05, 2023, 01:56:29 AM

Not just in alts, this also applies to every decision and every investment you make. Investing in altcoin, especially newly created project needs deep research. Those are high-risk, high-reward investments. It's the same in the ICO era, abandoning the project once they profited from it until now in NFT and the sad reality is it will always be even in the future.

Most of these new projects now are hyped and it was really tempting because of the high rewards but later on, they'll turn into scams and run all the money from their investors. Sometimes they create dramas in order not to take all the blame. Now, it was really hard to invest trust in newly created projects and I feel that we're getting worse as more and more new projects come without a working product to support their platform.
If this situation will continue, not to wonder why there is a declining growth of altcoins investors than Bitcoin.

For me, altcoins are just a place to look for quick profits, we cannot expect any future development or they will be used in real life like what the developers did promise. The altcoin market has been growing for more than 10 years so far, and no project has been put into practice, all technology is on paper. So don't believe what they promise, all they want is money, leave them before they hurt you. Altcoins will never cease to be attractive, as long as there are hyped projects, they will always attract investors.

Questat

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Quote from: Shinpako09 on January 05, 2023, 01:56:29 AM

Not just in alts, this also applies to every decision and every investment you make. Investing in altcoin, especially newly created project needs deep research. Those are high-risk, high-reward investments. It's the same in the ICO era, abandoning the project once they profited from it until now in NFT and the sad reality is it will always be even in the future.

Most of these new projects now are hyped and it was really tempting because of the high rewards but later on, they'll turn into scams and run all the money from their investors. Sometimes they create dramas in order not to take all the blame. Now, it was really hard to invest trust in newly created projects and I feel that we're getting worse as more and more new projects come without a working product to support their platform.
If this situation will continue, not to wonder why there is a declining growth of altcoins investors than Bitcoin.

Shinpako09

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Not just in alts, this also applies to every decision and every investment you make. Investing in altcoin, especially newly created project needs deep research. Those are high-risk, high-reward investments. It's the same in the ICO era, abandoning the project once they profited from it until now in NFT and the sad reality is it will always be even in the future.

KINVAN e

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Quote from: lobo13hf on December 20, 2022, 09:33:09 AM

well at the end of the day, it's definitely depends in the team themselves, there might be some coins that only suited for long term holding that is the majority of meme coins and the others might be some trending coins.
But if you could somehow find some promising project it could turns out to be massive returns after long term holding but of course these are very rare, surely coins like matic and solana which could scores this tremendous amount of valuation nowadays begins as a new coins that being underestimated, but they could make themselves famous.

Yes, the team is very important, and the economic model of the project is even more important. Times create heroes, and projects that get opportunities must follow the trend.
But there are a lot of liars with luxurious packaging, and it is necessary to study carefully whether there are any flaws in all aspects of them.

passwordnow

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Quote from: My ThuiHa on January 04, 2023, 03:05:48 AM

Bitcoin is the prime choice for long-term investment. Altcoins are the way to make profits in the short term. Altcoins are more risky than Bitcoin. Learn more about the project itself before investing in the altcoins you see. Don't be fooled by "surfaces". Many altcoin projects are scams. Don't trust strangers easily. No one wants others to be luckier and richer than themselves.

People have seen the wave in altcoins and they want to invest shortly and go away afterward when they've made a profit. That can't be helped and changed because that's how they perceive the market.
It's true that many of them are scams and those type of investors are prone to it no matter what they try to achieve and the way they pick their altcoins to invest, that's just going to hit them hard later on when the altcoin they've invested is unknown and runs away.

samcoin

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Quote from: Crypt0Gore on December 20, 2022, 01:40:19 AM

Apart from rugpulls and influencers scam that are very famous with altcoin investment there is one particular side I want you to be much aware of.

Many altcoins you are seeing right now are build on "Make the project, promise the entire world rare utilities and never really deliver anything, they will keep using words and investors will keep hoping.

That was the case during the bull market, unfortunately hundreds of projects managed to attract the crowd then died slowly like NFTs projects or suddenly like Luna and FTT.
According to Coingecko, the popular Cryptocurrencies prices tracking website, 40% of the coins that were listed in 2021 are now dead, and that's measured by many factors like trading volume in the last two months, or news revealing a scam project, or even a self request from a project owner to deactivate the tracking.
This happened before and will continue to happen as long as the market still unregulated yet I believe people have now more resources than before to spot a scam project.

My ThuiHa

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Bitcoin is the prime choice for long-term investment. Altcoins are the way to make profits in the short term. Altcoins are more risky than Bitcoin. Learn more about the project itself before investing in the altcoins you see. Don't be fooled by "surfaces". Many altcoin projects are scams. Don't trust strangers easily. No one wants others to be luckier and richer than themselves.

Topic: Why you should be very careful with alts - page 2. (Read 951 times)