Bitcoin Forum

The altcoin sector is by far the biggest in terms of numbers of coin in the cryptocurrency market. Ethereum is the most valuable altcoin but it's like the glory day of ethereum is in the past now. Investors are by passing the opportunity to invest in altcoin in preference to the number one coin bitcoin.

Why is there a sharp decline in the altcoin sector? This question keeps coming up in the head of cryptocurrency followers, like two years ago altcoin was a very promising sector which everyone expected more form but fast forward two years on the case seems to be negative.
my answer to the question is attitude yes our attitude can impact either negative way or the opposite.

  What are this attitude we have exhibited that has negatively impacted on altcoin.
1. Selfishness. Most investors are selfish they only care about what they can make but don't give a damn what happens to the coin it self, bounty hunters to have a role to play to they are snappy to dispose of the coin and this sure will decline the price
2. Poor publicity on the part of the developers. Altcoin can very much get into the cryptocurrency market with out being known developers should focus more time into spreading awareness about there project.
3. Poor road map. Developers should not create an unrealistic road map that they know can't be achieved cut your coat according to your size. Be truthful and real to the project.

You have laid some valuable points, to be honest. However, all investors are selfish and they all have that in common regardless of whether they are investing in crypto or not.

Bounty hunters dumping coin price is always going to happen as no worker deserves to do a job without getting paid for it.

It is the strength of the project that will determine the coin value in the end as bounty hunters only constitute a tiny fraction of the coin holders

Cryptocurrency will rely heavily on the efforts of project developers. Investors can hold coins for several years after the token sale but it will all count for nothing if there is no further development of their blockchain platforms over the years.

For me the most important questions are: Why your coin deserves my money? and Which problem your coin will solve?

These two are the main problem in altcoin sector, the problem is not investors, advertising etc, there are tons of coins whithout any reason to exist, it's just a whitepaper and nothing more

Well everything except Bitcoin is an altcoin, so obviously there are more altcoins than 1.

The fact is most altcoin developers have no idea about the technical challenges that lay ahead for their project. Few have extensive development experience to tackle said challenges, instead relying on outsourced help, unqualified smart contract devs etc to try to botch a solution.

We need projects founded by developers with project experience, that way we know we'll get something substantial.

Unfortunately, 99% of projects don't even meet this simple criteria, hence the high failure rate.

No investor will invest in a project they don't trust and no investor wants to loose money, the reason they sell off the coin is because they don't believe in the project again. No bounty hunter also wants to work for free so when they notice that the price of the coin is about to decline they also dump the coin to avoid losses.

It's the duty of the project managers to have strategies in place to keep the coin from declining in price.

Recently there has been a new trend among tokens based projects which are closing down without clear explanations and reason or prior notice, this perhaps indicates the loss of interest in their own projects from the team and those too afyer raising decent funds in the ico, i think such projects should also be investigated. Some projects that have announced closure and liquidity have proven to be profitable for investors in fiat terms like taas, some are closing down without clear reasons like rialto trade and foxtrading both projects were aimed at auto trading and profits generation for investors which was not case to be unfortunately. Like wise there are many many more projects like these who have either announced closure or are just dead because no activity or announcements from teams.

Poor devs and way to similar projects. You see so many similar project these or even exact copy there by just creating unnecessary diversification Those things plus poor performances affect how coins survive the market 

I think the altitude is to avoid frauding people in icos. It is better not to start something than starting and getting people's trust and fail them later. This is one major reason that bitcoin is still topping the altcoins.

One of the problems we have with altcoins is that, most of their developers at too fund focused. Yes, we know that without money, the product might not be achievable, but aside that, some of these developers asks for exorbitant, which most times are not feasible and even if they are and such is achieved, they collect the funds and disappear into the thin air without doing any things or that they just fold their arms without showing any form of concern towards further development, because they have got what they wanted.

no it is not and it has never been!
price-wise, it does not have the highest price.
pump-size-wise there have been a lot of other altcoins that had a much bigger pump
utility-wise it is at the bottom of the list

the only lists that have ETH on top are "market cap", "centralization", "size of premine", "number of bugs", "lack of immutability" and "number of exploits in the protocol".

that has always been the case. but for a short time the ICO hype made ETH get pumped a lot and now that ICO hype is dying and is almost dead so is ETH price...

you are confusing "pumps" with the real deal.
pumps don't matter and it doesn't make the "sector promising". it just shows a short term flow of money from gamblers into the market who wish to win more money. that's all.

the only problem i see is lack of good projects that do anything meaningful. so far most projects including ETH that you mentioned here are created with only one purpose: to be traded on exchanges and generate profit for certain people only.

Yes, that's why alts easily become shitcoin in a short time. In our crypto market, the attitude of the founders is really bad and when they collect enough money from investors, they do not pay any attention to the opinions of investors.
For projects, I think we need an organization to observe and manage to enforce the law.

You are right, our attitude strongly affects altcoins, however, this is only one of the factors. Also, the egoism of investors is absolutely normal. Everyone wants to make money, not work for others. The combination of many factors affects the sphere of altcoins, and not just our attitude.

the creations aren't good. it has nothing to do with attitude of others, you can't expect people in the market (anybody apart from developers) to have faith in something that has no usages and no reason to even exist.
if we want to solve any problem then we have to start from the source. meaning to start from the creation step when these developers every day come up with new copycat coins with nothing new to offer.

For sure there are many altcoin projects out there that will have a profound effect on crypto space regardless of many shitcoins that has  shaken the industry. Nevertheless, it is worth noting that we are still at a very early period in crypto evolution and yes, innovative altcoins will definitely play key roles in this ongoing blockchain revolution though I must admit that we should have the right direction and attitude to achieve our visions.

There was a decline in the investments made in altcoins because the money they were receiving was not justified, billions of dollars were invested and not much came out of them so now most of that money is returning to bitcoin where it rightfully belongs. And about your first point I do not know what you are expecting out of investors, they are not a charity, if they invest their money in a coin is because they want to get more money in the future, they do care about the coin and how it performs since that affects them financially but you cannot expect to keep supporting a coin that is showing signals that it may fail.

Perhaps the main reason is that really interesting and promising projects have a negligible percentage? ;D

There is not altcoins. There are coins that some have something in common. That is all. Term altcoin is made from point of view to diverse other coins from Bitcoin. That is all. Those coins are very different. Many coins are way more similar to Bitcoin that most of other coins. 

You said poor Road map, the roadmap of any project is barely significant if it won't followed promptly or effectively, proper execution of the timeline of a project is the best even if the content are too little.

You raised a very good point, there are many projects in this space but yet only few are really on the right track with majority going down the drain after token sale. The funny thing is, most developers are quick to shift blames but yet lacks the ability or knowledge of what they actually want to achieve other than beautiful whitepaper. So until projects start defining their existence, they will continue having issues.

Every new project that lunches in the crypto space brings in new altcoin, which will either succeed not. If it fails, there are factors behinf the failure and if it succeeds, there are also factors behind oits succeess. A project that is well structured and that every necessary work is done on it has what it takes to succeed. Developers should always look forward to bring in something new into the crypto space and not a shit coin that will pump, dump and die.

Indeed, many aspect to consider not our just attitude but also our emotions. Since we are trading 24/7 then its normal for a volatility to increase and its normal to pump and dump so nothing to scare about if you hold good altcoins or the strongest altcoins. Positive sector takes time after the dump, don’t lose the faith.

I guess I would call this a norm now. I mean many projects are blaming bounty hunters for causing a massive dump of the price, And they bounty hunters pointing at the project itself. But both is in err here as everyone wanted to get that easy money right away.


I think project is very good at marketing but the problem is that they're just hiring developers that is not well known. Although resume's could be impressive, however, most developers really tend to be quite behind. Road map can be adjusted, in my opinion, that is part of development, there's no way that a certain project can hit 100% of their roadmap.

Altcoins should be just like stocks. If the project is to do well and be sustainable then there needs to be a reason for it to exist. Tokens are supposed to be like owning a part in the company based on how many you own over the total amount. You don't need dividends since they are included in the tokens value and you simply sell them off slowly when needed.

People need to change their attitude about the whole industry and realize work is need to make money. Stop chasing the dream of getting rich over night. That time has passed. It doesn't mean there will not be other coins to rival bitcoin. There will. Look at how much profit you could have made with eth if you bought it at the launch? These projects have value and use. People need to stop supporting useless projects with no value besides being a crypto token.

I dont think attitude was the mean reason of reshaping the altcoin sector! At first before we venture into the crypto industry we should learn first how the cryptocurrency works all do's and dont's must be observe properly the decline of altcoins is not because of attitudes but it was a pure market movement meaning the investors confidence on altcoins was declining i believe that the investors are already learned in the past experience like in 2018, thats why they are throwing out some of its altcoins portfolios like what im doing also all that you mentioned above was just part of the complicated nature of the crypto-industry.

The main setback altcoin had is the issue of greed and lack of functionality of product. Most Altcoins are without a functioning product, ones with a product can't seem to get it working. If there was no greed in the developers, there are other coins which can be integrated as a means of payment on their platforms rather then developing their own token.

Why would an investor care about the project when he is not a shareholder, it is only a shareholder that would care much about the product, all investor wants to know is how many percentage he would get for living his money for a particular period of time that the developer would use it, and such developer would give time frame.

In the case of cryptocurrency investment, developer don’t usually give time frame for which their investment would start yielding profit, and all they tell them is that the coin would go at any moment they make investment, so what is the fault of investors if they request for their investment even if its minutes after the product was launched. Developers are the ones that needs to be straight forward and they are the one with bad attitudes.

There are many factors that make altcoins experience a very sharp decline. This decline occurred when it came in in 2018, that the Altcoin slowly declined. According to my analysis that the factors influencing the destruction of Altcoins are:

1) Scams happening everywhere, they create fake ICO projects to make money in a deceptive manner.
2) greedy in trading and people investing in panic when the situation changes.

But we also have to think positively that the crypto situation will certainly not always succeed. But will have a time of trouble.
Now new hope to enter the year 2019, that with increasing Bitcoin will have a positive impact on the altcoins.

If your questions are as what you wrote then how do a project sell it out to you except they advertise and you get to know if it suits you. The power if advertising is strong.

White paper and what is in it doesn't guarantee that the project would live up to what they claim no one can tell. But with the first few moves from the project you can at least check on the seriousness and passion for success 

Talking about the current state of altcoin, many compare the era of 2 years ago where the heyday of altcoin. Hoping that next year will be better, that is what the crypto members want. But with so many factors or cases, crypto is getting worse, especially altcoin. Maybe our attitude is one that influences these factors.
 
You are right if our attitude is good it will have a positive impact and vice versa if our attitude is bad it will have a negative impact

It seems to me now the whole problem is that good projects do not enter the market and out of the general recession of the market, therefore, top altcoins do not grow and new projects do not go out and push old ones, we must wait for some strong news so that the bitcoin market goes up then altcoin market will go up.

It warms my heart to read your positive expecttions about altcoins. As to typical weak spots, you're right. Especially publicity.

The simpler way of looking at it is that so many ICOs were pure scams that it scared away investors from new alts. Then add in the SEC and it's slow motion way of going about things, and we can't even be certain which alts are securities and which aren't. I don't think most qualify as a security, but again, negative publicity doesn't help matters.

I think it has nothing to do with selfishness. Bounty hunters always dumped. They dumped in 2014, 2015, 2016 and still do it today. Just the way it is. It wasn't enough to kill good coins in the early days, and isn't the reason it kills coins today. If a new coin dies because of bounty hunters, it means it was never strong enough to begin with.

Biggest reason I think alts are where they are is simply how the market works and for lack of a better term, whale manipulation. Low cap coins will suffer most in a bear market ... happens with stocks as well. So if whales decide to crush alts down, pump up btc first, that makes sense. Only question now is if with alts so crushed, will whales chomp them up again and start pushing up alts.

We can say attitudes matter in regard to price, and to a certain extent they do. But if whales start pumping up alts out of the blue, you'll be surprised how quickly attitudes change. And it'll have nothing to do with any of the points you brought up ... price is what changes attitudes.

True that, bounty hunters need to get paid, they had been on the losing side already when they accepted token as their payment and after ICO as the scheduled payment.  Worst these project even delayed the payment to these bounty hunters and then accusing them of the reason of the price drop.  It is the incompetence of the project owner that lead their coins to oblivion.

It is not selfishness if you wanted to rake your profit.  Imagine you have to give first before taking profit.  If these investors are selfish then they shouldn't have invested in the first place.  Investors are greedy not selfish.  they always wanted to have a profit out of what they release or invest.  Selfish are those project owner that only thinks of themselves and primarily prioritized their gain.

Selfishness Are You Serious? Are you seriously? Do you want to say that all investors in the market should care about each other and about the coin?

Developers should take care of the coin, the goal of investors is to make a profit from the project - and this is normal practice.

Sometimes the price of a coin does not depend on the developers, so the crypto market is arranged, but investors have nothing to do with it.

Perhaps this works in theory. But in practice, what you're going to find is that people will generally still tend to gravitate towards projects that create the most hype, regardless of whether or not it has actual value.

People care the most about short term profits more than anything else, that's the thing.

This isn't something that can be changed simply by saying it, because greed is innate. Otherwise, the ICO bubble of 2017 would not have existed, nor should bitcoin dominance have ever fallen under 40% during that period of mass hysteria. Human psyche is what dominates the market, not necessarily rationality.

Listen to yourself, what makes people dump in the first place? there was a time when people like holding coins and tokens but they lose while keeping them, 99percent of the value of tokens are gone, who are to be blame? crappy projects builders of course and stop saying ETH glory days is in the past, the team are very serious and very soon eth will bring a new changes to altcoin space soon