Bitcoin Forum

Now I'm not hating on anyone who bought it, and I'm not even saying Mana won't continue to grow and make people profits but... god it's trash.

I have a hard time fathoming anyone ever looking at that "game", Second Life wannabe or whatever, and saying "yes, this is the metaverse I want to sink all my time into." It's empty, and ugly, and laggy, and it's going to be done so much better by someone else. It's only the popular buy because it was one of the only metaverses you could even invest in for a long time, but no way will this game stand the test of time.

Maybe I'll be eating my words someday, for anyone with big bags of Mana I hope it continues to do well and truly improve, but I had to sell mine. Moved it into Enjin and Gala, broader metaverse plays that don't depend on the success of just one project. But then again for all I know this is a Fortnite-before-Battle-Royale situation 🤷🏻‍♂️

All I know is that as a gamer, tech enthusiast, and someone with a job, there's no way I would ever waste my time in Decentraland as it stands now.

So why create this topic?

What are you trying to tell others?  

From that project I like the fact that uses could buy virtual land, and maybe now is a good time to do it while the price of mana is really low.

Everybody relax so many altcoins are down last few months.

I hold Decentraland too , my average price is $0.74 so down a lot but the bull run peak is coming in the next 6 months or so you should either just hold or if you can buy at these very low prices to reduce your average price.

SEC Sues Consensys Over MetaMask Staking, Broker Allegations
...
Consensys collects a fee for providing this service and, according to the SEC's suit, facilitated more than 36 million crypto transactions over the past four years. The SEC said that "at least 5 million" of these transactions involved "crypto asset securities."
The SEC said these securities include Polygon (MATIC), Mana (MANA), Chiliz (CHZ), the Sandbox (SAND) and Luna (LUNA), though it suggested other digital assets might also be securities. Many of the cryptocurrencies named in Friday's suit have already been named in previous SEC suits as unregistered securities, though at least some of the issuing entities have disputed this characterization.

You are way too emotional - if you are being serious either chill or take a break.

Buy these cheap prices now if u can to reduce ur average price.

Averaging down is a strategy that should only be used when you bought an asset you are sure it will recover, so if for example someone bought bitcoin for a price above 70k, then averaging down by buying now that the price is low is a good option.

But doing so when the asset you bought is not guaranteed to recover is a huge mistake, after all I do not see how MANA will ever recover its former glory, so anyone doing what you suggest is just throwing their money away.

You do not know for sure if it is throwing money away yet.

If the OP can afford it, they should buy some of these low prices now to drastically reduce their average price.

Like I said before it can go to zero, or it could recover and do really well no one knows yet.

In my case, Decentraland was the first crypto I bought at the end of 2021 when it was getting all the hype - I haven’t bought any for a while but these current prices are fantastic IF it recovers.

I am not all in On Decentraland. I am nowhere near as emotional as the OP is but I will buy more if it goes lower as I was buying some as high as $2.50 at one point a few years ago , so I am definitely going to be buying some at $0.25 as the price is 10x cheaper

If it goes to zero this bull run then so be it, but if it can get back to $2 or $3 then I will be making a great return and as I am not investing much overall , it is a risk I am willing to take.

7 years into its existence and this project has gone nowhere. The metaverse hype is dead and for the small niche still interested in it there are better options. MANA isn’t just going to suddenly stop being a shitcoin after so many years of stagnation and empty promises. Almost any shitcoin can pump during a bull market but you are better off just putting that money in BTC or an established altcoin like ETH, SOL, and BNB.

Decentraland turning into shitcoin

http://www.lu.free.fr/images/dcld.jpg

https://trustpilot.com/review/decentraland.org


One of the developers Ari Meilich spits of about the project and left it in 2020.
That shitcoin called Decentraland is lost correlation with BTC like all normal altcoins, and does not grow at all anymore.
It was also previously known that the Decentraland developers turned out to be creditors of the bankrupt Genesis Global which, after the collapse of FTX, suspended it's payments.
[I understand your frustration with Decentraland's (MANA) recent performance. The market can be tough, and it's definitely not what you were hoping for.


However, BingX offers a variety of features that might be helpful, such as advanced charting tools and margin trading (with proper risk management of course).  Have you considered using any of these features to potentially hedge your positions or explore other trading opportunities?  What are your thoughts on the current market conditions?]