Bitcoin Forum

Should there really be a time limit for coin swap tbh?
Its kinda funny there when i look at some project whom initiate swap

There's still few thing that Crypto are kinda weak when we comes to real world investment
I personally notice quite a number of case where user are left with bunch of useless coins because they didn't swap before a specific timeline.
This wouldn't happen if you buy stocks from stock market, buy commodities contract and etc
If you buy ABC, no matter if they transfer or convert their name to CDE and whatever, you do get back the amount you spent or the stocks that you actually hold.

I even notice there's certain swaps where it only available for 1 month
They expect everyone browse social forums, look at social media and etc
Hence, kindly share your point of view here

that is why immutability has been one of the first and most important characteristics of bitcoin from the first day. a user, when converting his money to a cryptocurrency, has to be assured that what he is buying is immutable and can not become invalid as time passes. this is why bitcoin is still the strongest while others keep failing!

That's unfair and i have ever experienced it. I missed the first phase of the token swap and i just got 0.5x from my initial investment while those have participated in the first place got up to 2x. this looks unfair but basically, all of the token holders already listed in the blockchain and it's easy to track them all. To give a time limit for token swap is a non sense idea.

I agree with this. I have been in several projects who sometimes requires swap because they changed from one platform to another, or whatever they might think effective for project exposure. And gives a certain date for a swap. I mean to be honest, I think some investors fon't really get this uodates because some would just buy and leave it because they intend to HODL it for a long time. Which will now exclude them since they are late for swap which is unfair.

yes you are right, only bitcoins do not swap and others. meanwhile, many projects do it and they hope that by doing so it can increase prices. but in reality it was only a futile effort and detrimental to investors who did not know the latest information.

it should be unlimited. if they apply the limit this is very disappointing. Invertor who will be harmed, if that happens. no one forbids the project to swap tokens but at least there is no limit for swaps, so whenever an investor wants to do that it can. if you see a lot of things that can be obtained from swap tokens, but the main reason is an increase in prices. many hope that when the swap is done prices will rise.

In my opinion, this is a big problem for cryptocurrencies, I participated in different ICO and now I have many different tokens, but it is very difficult to keep track of all. But some projects, if you contact them after the swap end, can help you and make swap.

Restrictions on this should not exist. The fact is that not everyone can follow the news. I have seen so many people lose big money on this and this is a problem today. But we can do nothing with this to do this project conditions.

this is why i have never held on to any altcoin for more than its pumping duration. you never know what is going to happen with them. these things like coin swaps and their deadline time is one of the good cases because you at least have some time to swap the coin and rescue your money. the worst cases are when there are serious bugs in their protocol that leads to catastrophic money losses that kill the coin entirely.

The market is a free environment. Anyone has the right at any time to buy or sell any asset on the exchange. If the user misses a good time, then this is the user's difficulty.
The same with listing. Only the user is interested in tracking the listing of assets, if necessary.

Not. They must lock the window. because not everyone can exchange their coins at that moment. And a month is too short a time. Something is always wrong in haste.

Exactly even i concern about that but coin swap in same platform would be easier process like ethereum token one contract address to another . but if coins swap to another network or own blockchain ( Mainnet)  solution it is tedious work . Most of the time i transfer currency to exchanges which support mainnnet.

I think the time limit is a ridiculous practice. I'm buying a token for investment purposes. And I want to invest in long-term investments and just wait and not follow. In that case, if I give time to me, the money in my hands is completely lost. I mean, the money I buy is a trash.

Exactly that's the case
If i am investing for long term, i have no point to follow up with the news as much as i can
I personally have missed around 2 swap and got nothing back in return so yeah..
Even project like ICON does has a deadline but of course, its longer in time.
I do still feel most project are kinda hilarious, i mean i personally seen a token who made swap from ERC20 to ERCXX and they wanted to perform a manual swap
Since it is on the same chain, can't they just airdrop the token to the previous token holder by running smart contracts?

There should be indeed a time schedule for a coin swap because the team of the project needs to focus and move things ahead but i also want to speak on the side of the investors of the project that they should be given enough time to do this swap. One month is too small  i think first there should be news about this swap 2 months before the time and at least a maximum of 3 months should be given for this swap to take place. Definitely some folks would still miss the swap with this wide range and that would be their own problem because staying in touch with your investment is also the responsibility of the investor.

Project team need to give enough time for all the investors to swap their coins so like 3 months might be enough but not all the people who investoed are not going to follow all the instructions from their ANN thread so how they are going to contact the person ans say this is another mistry.

This is one of the problems that needs to be tackled, I participated in a project where the token was distributed and we held for a long 6ime and nothing only to stay offline for a month cos of work and when back online was told that the token was swapped and there is nothing that can be done, it wasn't a funny one cos I lost $450 cos of it. There shouldn't be a deadline to coin swap

Well i think there should be a time limit for coin swap because if there happen an change that affect the altgorithm of coin from full PoW to PoS then will be a problem to hold both chain on and can affect the coin if the swap not happen on time.

time limit is beyond the devs hand,, you cannot blame..for sure they are notifying their holders via email or social media to remind them if there is a swap..

Usually, devs send the email about the upcoming or planned swap deadlines but this information is not enough to catch the real-time of the swap. Social media contents are updated regularly and pinning the single post is not enough in my opinion.

Tracking such information in social networks is not an effective activity in a world where there is already a lot of information. I do not like this idea.

my opinion is, a time limit for coin swap is bad. not all people actively follow the crypto market but still have coins. they rely on the fact that they only need to keep their coins. these people then experience may be too late, that there is a coin swap and thus lose their investment. as a result, you lose money and trust in a coin. therefore a coin swap should always be possible. only that is fair.

It would be great to have a service that shows when the nearest swap and what project. Since I bought a lot of different tokens, it is impossible to monitor them unfortunately.

I don't like timelines for swaps, mostly there are just a few days. you have to check everything regularly ::) this is something what i support... longer timelines for swaps! would also bring some more trust to the crypto market

I wonder what would they do with those coins they swapped to you if they don't have much that value. Can they still consider to swap those coins i mean those shit coins? Some altcoins are good for investment for the long term but most of them are shit coins which is not making a change in the market for the past few months.

It is a strategy I guess, to minimize the shareholders or numbers of coin holders. Some buyers were too busy to open their accounts and to know what is the latest news and trends about their coin. And the moment their back they are already too late. Sometimes even the allotted time is gone, they also accept coin swapping, that kind of dev team is what an ideal team should be.

The time limit for coin swap is not necessary and giving enough time to investors are better than making a rush. Limits should be applied to the amount of token depending on the token owning rate rather than applying time limit.

About swap, there are some basic things:
- Most of swaps come from failure projects, then developers or community that take over old projects and do the swap as efforts to reboost.
- Most of swaps have the end day to swap from old coins to new coins.
- Most of swap have ratio smaller than 1:1 (old:new).
I agreed with the OP about the schedule end day for swap.

swap limit for a coin is not good enough; there shouldn’t be any thing as such at all
Not everyone can meet up to the demands of coin swap that is mostly done suddenly when most hodlers are morning informed

Putting a time limit for token swap is not the issue here but rather what's the duration given for it, how well were the investors and holders notified about it. Many people has acquired a huge tons of different coins and  can't even keep track of most so I think the best way is to always alert using their email or telegram

There should be an open swap possibility for a longer period, otherwise  many investors could miss the swap and lose their coins. I know that we are responsible for our investment and have to follow up on them but not everybody is doing crypto full time.

because a lot of last year's ico projects have no projects in the world so that what happens is they cannot compete in a large market and will lose their volume every day.

Limited time for coin swap is good thing for me since it is also part of moderation to control all happenings un certain community;  if this such thing cannot be moderate it can be used by other people to scam others and that would cause a bad image to cryptocurrency.

The responsibility is on you, devs can't wait around for years to do a coin swap.  Your money is on the line so you should constantly be checking for updates, one month is more than enough time in my book.

In my own perspective about this issue, it is better not to have a time limit for swapping tokens or coins. There are some other people who don't have some time to get some updates about the token or coin they are holding, because most of them are usually busy on the other things and mostly to their higher investments. For me, it is better to still swap token or coin even it already takes too much time after the actual date as long as you are a holder of those tokens or coins to be swap.

I believe that in the case of swap coins there should be a possibility to exchange them at any time. It may be, for example, within a month the exchange is performed automatically. And then (for those who did not have time), the exchange should be made in manual mode. Let it be more time consuming, but the possibility of a swap should be maintained.

Been there and I hated it.
They have billions of coins before and then there is this urge to copy bitcoin so they took some zeros out.
1000 coins will be equal to just 1 after swap.
Bad thing is the value did not appreciate. It is still stucked with the same value as it was before with just cents of a dollar.

I just dont get it.
Why not focus on the marketing the product rather than making such decisions.

This problem is personally yours. Token swap do not announce in one day and spend the next. In addition, each project has a roadmap which clearly describes the timing of the transition to its own network. Our task is to keep track of this, in order to avoid consequences in the future.

I think otherwise.  Holders should be responsible to update themselves.  People have different things to do than wait for our token when we are  ignoring any updates from them and have our attention somewhere else.  It is the right of the developer to set limits on how long or how short their swap is as long as they have this announced for several months.  I have lots of coins that were late to swap but I never blamed developers because it is my responsibility to safeguard my investments.

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I think there is no wrong in setting up time limit for a swap but of course having no time limit is a bliss.

Very true to the present, it has lost countless money of the foolish believers, including me. I have regretted believing false and false information to me  :(

I experienced that before I was late one week on their coin swap, I am in a place where there is no internet connection and they did a coin swap with one-week notice, this is not right, people have invested in their coins there should be no time frame for the coin swap and it's only happening in the crypto world, because there is no regulation or rules about coin swap, the dev is the one setting up the rules.

It is very strange, I have never come across a such situation. Projects always give a lot of time to exchange coins. Usually not less than three months ... Perhaps there are similar situations, but in any case, you should keep abreast of and follow the coins that are in your portfolio. This is not a traditional market, it is a crypto, there is no insurance against losses here ..

I agree with you on this point that bitcoin is the strongest and most stable for us to step into. I hope that other currencies can learn or make that difference, to add a new kind of knowledge to be exposed  ::) i believe that it posible

You should set limits for short-term Crypto transactions because they are very risky and quickly lose money in short-term trades. You should explore and select potential Altcoin to hold long-term to replace risky short-term transactions. I believe that HODL is always a good and profitable option.

I voted there should be no time limit for coin swap, I am buying coins because I trust this coin, so buying is a vote of confidence, whether you want to hold it long term or short term, they should also consider that there are holders who believe in their coin long term that is why they hide the coin and set up a date when they will open it or check it.

It's very bad to see some projects that introduce coinswap for there tokens using time limit, those who aren't aware will lose out, it's really very annoying, developers should follow the footsteps of few projects that remove time limit to swap to new tokens from old, I can't see any reason why using time limit at all

But usually the developer will tolerate when the time limit has expired, indeed this is not fair. I have experienced it like you, I can't monitor it every day and I miss it until the time limit is up. Then my step is to contact the developer to ask for tolerance and the average developer will listen to it, but that depends.
So do not be careless, always monitor, it is not entirely wrong from the rules they make but we are wrong too.

i think there should be no time limit for the swap of the various tokens, or if there must be a limit, the swap must be advertised very well on all possible channels so that everyone can do it...

I think that if you set limits everywhere, there will be no one here.  Because people will not work where it is difficult to earn.  People are looking for where it is easier.  Because they are here.

I do not think that it is a good way how to reduce supply. For example I am still holding my 99 TRX ERC-20 airdrop and there is no limit for token swap. So why I should create TRON wallet when I do not use this coin? I only want to hold it...  :)

This is really a problem for many. Due to such a huge number of projects it is almost impossible to keep track of all their coins. Especially if they still come up with some stupid conditions. Now it is better to keep a few coins that seem to you the most worthy.

the best thing is unlimited swap time, perhaps putting the exchange rate ratio as the only limit, decreasing it with the passage of time

Time limit for coin swap is bull crap, all investors interest should be cherished no matter what and project team should know there are some investors that might not get the swap information in the scheduled time why automatic swap is important, instead of giving time limit for swap and screwing people off of their investment do automatic swap and there will no be issue

Why should we set a time limit for trading cryptocurrency? I think that we, on the contrary, strive to ensure that our coins and tokens are always traded and are available for this. Do not be afraid that they will fall in price. This will depend on the project and on the usefulness of the coin or token itself. We must always have the right to choose to buy or sell them. This is one of the main functions of cryptocurrency.

I understand that they set a deadline if they have to send the tokens or coins manually, but they also need to understand that there are people who don't follow the news or social media channels and can miss the deadline. I think there are ways to solve those situations, for example, for people who miss the deadline they can send the coins once a month or every two months.

The decision to give a time frame for any coin swap lies with the team of the project and i think ideally there should be a time frame so that the team can move on with further developments of the project. This is also very important when the team is planning on launching its own blockchain network.

In my opinion if a coin has entered the exchange list then there is no time limit for exchanging the coin. It's just that we ourselves must estimate the time of exchange on the market because not all of these coins have the potential to last long on the market. Even though it is not limited if the coins we hold are not potential coins then one day the coins will become trash in exchange. Therefore, before the coin becomes trash, we should have exchanged it and we have got the profit we expected.

In order to avoid incidences like this and to avoid users from missing out, i think some decided to get it done automatically, by capturing the addresses holding the tokens.
Some have even advanced in such a way that they do not limit it to personal wallets alone, but also exchanges on which they are being traded, most especially CEX.

It is really unfair, I have a couple of tokens in missed swap announcement and they are now useless in my wallet.We get so busy and may not have known there was such swap.Not nice from those project teams.A better approach should be to run an automated swaps.I have seen a few projects do that.You don't have to do anything to get your new tokens.I suspect putting a time frame for swaps is also a ploy to the tokens in circulation

We are responsible to follow up on our investment, on the other hand it is not realistic that we follow all of our coins all the time, especially if we invested in them long term. The projects should find the way how to inform their holders about the swap and not only through social media.

You kinda have a great point. There should be no time attached to a coin swap. Users should be able to swap whenever they are ready to do so. I still have tokens on my Idex exchange including xDAC which I cannot do anything with anymore. I guess I missed out of it too.

best method i think is to get snapshot of coin amount in investor/user wallet then distribute new coin and they can do whatever to old coin.

But coin swap itself is kinda funny for me coz many project do swap only for reduce supply and increase price. Increasing price with swap instead coin utility, lol

restrictions must be removed, because coin exchange is the right of each individual who owns it,
or there may be restrictions to reduce the price decline, or keep the price of the coin stable.

This is what I observe also that they put a limit in their token swap though it is not a big deal if you are active daily.
But for those people who rarely look the news or update with their tokens then there is a big possibility that you will left behind by useless tokens.

If they can at least extend their duration of swap like 1 year then it will surely benefit all the token holders as they were given a good amount of time to complete the swap. If they weren't able to swap their tokens then the project owner can't be blame if they can at least do this.

I have faced such a situation one time. Two projects have given a certain time-frame to swap coins I have got from bounty campaigns. I however did it within the time-frame given by the project. I think every project has certain rules and regulations and they act on these rules. As a result, they give a certain time-frame to do tasks. I do not think something bad about giving time-frame to complete tasks.