Why you should be very careful with alts - page 4.

blockman

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Quote from: _morghulis on December 24, 2022, 01:51:08 PM

Crypto has attracted alot of scammers and they tend to do their bidding using altcoins.
They only create altcoin not for the benefits of the community but because of their selfish and greedy intentions, that's why you see an altcoin that's doing great to will suddenly get rugged the next day.

Exactly.
That's their product and having a product through an altcoin is a big responsibility. And these developers know nothing but only the best for themselves and not for the project.
They make one, sell it to the gullible investors that think they've got an amazing thing and project and then all of a sudden, they'll only see that they're being rug pulled.

The Cryptovator

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True. However, the market as a whole has recently decayed. Projects only come to raise funds and then leave. They don't actually give a shit about investors. On the other hand, delivering product does not always help. Because I've seen a few projects deliver the product they promised, but investors don't care; they sell tokens and move on. Some investors even sell their tokens at a loss. How will you keep them at bay? Today's investors' mindset has shifted. They believe in quick profits and sell tokens. As a result, even good projects crash immediately after launch on decentralized exchanges, rendering them unrecoverable. As a result, the intentions of investors and projects have changed. Everyone only considers quick money.

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Quote from: virasisog on December 25, 2022, 09:32:48 AM

Quote from: vv181 on December 25, 2022, 09:05:35 AM

The notion to keep regular track of a project's development is somewhat not approachable if we talking about altcoin. Almost all altcoins are worthless, it is hard to separate the wheat from the chaff. It is better to analyze the fundamental topic in the first hand that some altcoins bring instead of following up regularly about it. Say, how does the consensus mechanism works within its protocol and also the community?

That kind of question may address one of a few basic questions about the project quality, it is better than jumping out directly into some project, and then researching later.

Researching should always be done first and if there would be doubts and incompetences such as a lack of updates about their developments, it would be better to switch to higher potential coins which have a better foundation. ~

Actually, my point is that if someone is done with proper research, a problem like observing incompetencies should not be a problem. It is because any red flags have been filtered within the research process. If some project can't sustain with the only available current team or developers, especially if it came from the project foundations, it would raise a concern in regard to the communities that evolve within the ecosystem. It also tells a sign the project is centralized.

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Quote from: goaldigger on December 20, 2022, 05:51:44 PM

If there’s no update and the project didn’t follow their roadmap professionally most probably that project will failed and for sure many investors will lose their money. If you are looking for a good altcoins, its already out in the market and it can be lesser risk compare to the new project. Don’t get hyped with their updates if you can’t still see it most probably they are just doing it to attract investors which return is not guaranteed.

This is most likely what will gonna happen also when their telegram group has some less active managers or also active but only promising their investors some false promises. This is why it is really good if you only put your money in bitcoins in this kind of market situation because those altcoins will not really survive after this bearish trend and probably their owner is planning to launch a new project and abandon their current one because of how they failed to increase its sells and they also failed to follow their roadmaps due to low budgets and sales.

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Quote from: vv181 on December 25, 2022, 09:05:35 AM

The notion to keep regular track of a project's development is somewhat not approachable if we talking about altcoin. Almost all altcoins are worthless, it is hard to separate the wheat from the chaff. It is better to analyze the fundamental topic in the first hand that some altcoins bring instead of following up regularly about it. Say, how does the consensus mechanism works within its protocol and also the community?

That kind of question may address one of a few basic questions about the project quality, it is better than jumping out directly into some project, and then researching later.

Researching should always be done first and if there would be doubts and incompetences such as a lack of updates about their developments, it would be better to switch to higher potential coins which have a better foundation. Well-established coins have always been the best choice if we are having second thoughts about new projects because scammers are now using project launching to take money from investors which we should be skeptical about.

vv181

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The notion to keep regular track of a project's development is somewhat not approachable if we talking about altcoin. Almost all altcoins are worthless, it is hard to separate the wheat from the chaff. It is better to analyze the fundamental topic in the first hand that some altcoins bring instead of following up regularly about it. Say, how does the consensus mechanism works within its protocol and also the community?

That kind of question may address one of a few basic questions about the project quality, it is better than jumping out directly into some project, and then researching later.

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Quote from: Crypt0Gore on December 20, 2022, 02:40:19 AM

Crypto is a perfect engine for scammers because it's still unregulated and it's also the wild west when it comes to making money quick with less efforts. .

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.

They deliver small updates only to push the price higher.

They spent hours live streaming almost everyday.

They trust hype more than anything and a finished product will ruin it.

Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.

Some good advice here, also worth mentioning that if your coin has a CEO or was largely premined then it can be very risky. Decentralisation is very important in crypto, we have all seen first hand what can happen when one or a few people have too much control over a project.

I wish you all the very best of lucky but extensive research is required before significantly investing in altcoins.

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These projects, or new projects (alts) are like sports betting. During a football match, the score can change more times and even a few minutes before the end, you can lose or win everything. The Standard odds are between x1.1 to x3. The odds with x4 are riskier, but they happen often. And it is the same with such projects, it happens, but you need a lot of luck and patience not to decide too early and at the best moment. Some projects start as scams, most recently Play and Earn games with such beautiful NFT mods…

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Quote from: Crypt0Gore on December 20, 2022, 02:40:19 AM

...
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.
...

I agree with the main text of the message and this part of the emphasis. Many of the altcoins were created with the obvious fraudulent purpose. We all know this. There are very few projects that are truly technology-oriented and have a vision. That's why we should always be vigilant in this market. In particular, we should avoid establishing emotional ties with altcoins. When we reach profits in altcoins that will satisfy us, we should make it a habit to make logical decisions. Otherwise, we cannot have good memories in this market.

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Quote from: Vaskiy on December 23, 2022, 07:48:22 PM

There is a saying, tokens are generated out of thin air. This suits with thes kind of scam projects that mainly focus on the scamming the investors and run away. In recent years this have increased much, as cryptocurrency is well talked freely. The same is used as an opportunity by scammers to make money out of the common people with false statements. This can be overcome only through proper learning about cryptocurrencies and the market.

Scammers do not slack, and every year they create more and more scam tokens with big promises. If a project is traded on some pancakeswap, that's a reason to think to pass by that token. Usually such tokens have extremely scarce capitalization and trading volume, and their creators are anonymous and do not disclose their identity. Such a project is 99% scam.

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Quote from: _morghulis on December 24, 2022, 01:51:08 PM

Quote from: Kiresiura on December 24, 2022, 04:25:45 AM

Many projects in the crypto market are unreliable. Many altcoins that start off as quick profits to attract more investors turn out to be scams.
It is imperative to carefully research your options before investing in altcoins. To avoid bigger losses it is better to turn your attention to Bitcoin.

Crypto has attracted alot of scammers and they tend to do their bidding using altcoins.
They only create altcoin not for the benefits of the community but because of their selfish and greedy intentions, that's why you see an altcoin that's doing great to will suddenly get rugged the next day.

This has been happening in the entire crypto world for a long time already. Scammers are always hiding behind new projects and targeting many investors with their flowery words of promises about their projects just to take money from them. They will lie just to attract investors and would run away later on. That's why we are always advised to research so we won't fall for their trap. We must be observant as much as possible so we will know if a project is legit or not.

_morghulis

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Quote from: Kiresiura on December 24, 2022, 04:25:45 AM

Many projects in the crypto market are unreliable. Many altcoins that start off as quick profits to attract more investors turn out to be scams.
It is imperative to carefully research your options before investing in altcoins. To avoid bigger losses it is better to turn your attention to Bitcoin.

Crypto has attracted alot of scammers and they tend to do their bidding using altcoins.
They only create altcoin not for the benefits of the community but because of their selfish and greedy intentions, that's why you see an altcoin that's doing great to will suddenly get rugged the next day.

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Quote from: serjent05 on December 23, 2022, 06:41:32 PM

The altcoin area is brimming with scam projects, it has been that way since the early years of cryptocurrency. We even witnessed a supposed to be legit project turning into scam and fraud which is why doing extra care and extra research is very important. We must also be updated on all corners of the cryptocurrency we are invested one wrong move and delay of information can cost us our investment. Many altcoins often do swaps to get rid of holders that are idle(which I think is another form of scam). So we should be very careful in dealing with alts.

Many altcoin have been scam from price drop until 100% like Luna and FTT until exploit issues and make their coins delisting from exchange market, I still hold about three altcoin have been scam and not ability for selling it after delisting in top exchange market. Seems easy with altcoin project get exploit and make us more careful when investing in altcoin project.

Unacceptable reason with several altcoin upgrade or changed their contract address without giving the same compensation with previous or old coin holder, actually risk when long term investing in altcoin, not only issues with exploit but change smart contract address make us loss much money with unlogic refund with old coins holding.

Kiresiura

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Many projects in the crypto market are unreliable. Many altcoins that start off as quick profits to attract more investors turn out to be scams.
It is imperative to carefully research your options before investing in altcoins. To avoid bigger losses it is better to turn your attention to Bitcoin.

Vaskiy

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There is a saying, tokens are generated out of thin air. This suits with thes kind of scam projects that mainly focus on the scamming the investors and run away. In recent years this have increased much, as cryptocurrency is well talked freely. The same is used as an opportunity by scammers to make money out of the common people with false statements. This can be overcome only through proper learning about cryptocurrencies and the market.

lobo13hf

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had those shit coins being created in current bearish surely people would be using their wiser mind in deciding to not invest into these kind of coins, the thing with these shit coins that you mentioned is that they are created in the middle of bullish where quite literally everyone judgment getting clouded by the profits they are making, that would certainly the only catalyst in the growth of these shitcoins in general, therefore in trend of bullish investing should be done carefully than in bearish from my 2 cents and certainly majority of coins will vanish when the trend is changing.

serjent05

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The altcoin area is brimming with scam projects, it has been that way since the early years of cryptocurrency. We even witnessed a supposed to be legit project turning into scam and fraud which is why doing extra care and extra research is very important. We must also be updated on all corners of the cryptocurrency we are invested one wrong move and delay of information can cost us our investment. Many altcoins often do swaps to get rid of holders that are idle(which I think is another form of scam). So we should be very careful in dealing with alts.

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Quote from: Crypt0Gore on December 20, 2022, 02:40:19 AM

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.

The main reason is the proof that most of the altcoins are shit coins. Whatever their concepts and promises, they will be shit coins and not worthy. They have very big promises, but they will not be able to reach them, or even if they reach them, they can only maintain them for a while, and then, fall down tot he earth and become shit coins again.
Only very few altcoins that are exactly surviving around the years, from year to year. Even top coins like Litecoin and XRP which are old coins, are also dropping and cannot reach their previous price again in the last bullish era. Altcoins will likely be always replaced by others in every era.

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Quote from: so98nn on December 23, 2022, 02:10:26 PM

The unregulated market? It’s better be that way because that’s the whole point of crypto currencies and the way they should be working by now. I mean the whole principle is to have regulation free currency which we now have and enjoying it.

Altcoins are in a state of having huge trouble this time. A scam is one of the big problems that it triggers doubt and uncertainty in investors. In fact, their numbers are multiplying because of being unregulated and nobody stopped developers to create this. If we are going through this every day, I don't know what really happen in the market when it covered a huge percentage of useless projects.

Quote

Now nobody cares if the market is unregulated or how is it going with it as long as you are playing it completely safe with altcoin market. We can do it safely only if know on which project to trust and which not.

The government is very much concerned about and now targeting crypto in order to have their control as well after fiat.

so98nn

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The unregulated market? It’s better be that way because that’s the whole point of crypto currencies and the way they should be working by now. I mean the whole principle is to have regulation free currency which we now have and enjoying it.

Now nobody cares if the market is unregulated or how is it going with it as long as you are playing it completely safe with altcoin market. We can do it safely only if know on which project to trust and which not.

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