Bitcoin Forum

 ??? ??? This Past Day I was Trap At SW Coin or Sky Way Coin is there any possibilities of holding it ?

No one gets it I think, There are no new projects with every new coin launched, They are just the same whitepapers and ideas with different names, There are more than 1200 coins according to CMC but only 2 innovative concepts. A crypto currency/ bitcoin & smart contracts/ ethereum, What else these two are incapable of doing? If you are looking for someone to blame then you are the sole responsible for your loss.
Holding them is your only option.

You can hold it as long as you want if you think there is still a good future lying ahead for the coin. Take a look at the plans and roadmap presented by the company if they are good enough to stand still against the test of time and the market and make sure that the dev team are following those nice plans. In many cases, WhitePaper and RoadMap can be presented with very sweet words just to entice us to go for them and parlay some of our hard earned money but once implementation phase has begun they faltered...big time.

The management must always be updating the things going on, the problems being encountered and the clear future that can be ahead for the project and the people supporting it. One of the grounds why there are people who are calling the many alts as just shitcoins can be because they really are. Sad but this is really true.

Now, if you think that the coin has no chance of rebounding back, then sell it at a loss so that you can use the proceeds to other coins where you can possibly regain the loss.

It really depends on your expectation for the coin, if you think it will come good in the long term then of course hold it, if you think it will never improve then get rid of it and try again.

If sky way  coin  supposed to be a coin of SkyWay project (the guys with string rails) then I would say that it is a 100% scam. Sky way already have a plenty of fake websites that are not belong to the original owners. Also some time ago someone tried to  start ICO from their name so the original CEO always warns about hose scams.

P.S. Even the original SkyWay project is very suspicious (mostly because of their MLM strategy) so I would advise not to invest there.

Much better follow the coin in social media and read the whitepaper of coin for what purpose the coin..always be patient if ur coin is dumping.. if coin is very dead coin just sell transfer the other coin with a profitability and good for a long term...

Did you RESEARCH what you were buying before buying it?

If your coin as an active dev team, and has something unique to offer, trying to fill a niche that has not been tapped yet (such as online staking, as proposed by POSW aka Poswallet) then you can hold this coin because sooner or later there will be a pump above your entry points.

But if your coin has absolutely nothing to offer, you are basically waiting for a miracle. Sometimes, dead coins pump huge amounts. For example, Bitstar, Fibrecoin, and other coins that were basically dead, got pumped %1000 in Poloniex before they got delisted, those that were lucky to still be holding it made big gains.

Search for the ANN and the dev of the coin if its still active. Follow their social media like facebook or twitter for their announcement and news about the progress of the coin. Its up to you if you still want to hodl it if you think that it will increase the price in the future. It is already listed in yobit.net exchange with rate of .00000300btc per skyway coin.

Yeah,theres possibilities of holding this SW coin,but its depend on you the consequence whether you exchange it or holding it for future  because that their possibilities imcrease its value and it will be demanded in the market.searching  also in the newsfeeed of of crypto currency is important  either this altcoins is active in the market and if you found out that its faded its better you musk take the risk and forget the experience.

I get what you say. But BTC as a currency as its flaws So it´s ok for projects to try and solve those problems. For instance coins that address fungibility, essencial to a currency, coins that address speed and price of transactions, coins that address BTC scalability problem. What i dont think is normal is people "investing" in this projects without knowing that almost all will fail...

In the world of crypto currency if you invested into a coin and it suddenly happen that the coin was dump in price all you have to do is wait for the time when the coin will pump. I could remember when I invested into cloak coin last year which it later dump in price and I have to wait till this year before I could sell it.

You can not do the only option you are holding it. So wait for that price to rise again. But we certainly do not know when it will happen. Hopefully that's an example to never buy shitcoin again. Because you know that will happen if you repeat what You did. Because the shitcoins are faintly increased so that there is still a price. Sell ​​it because its value will be zero.

How much did you bought the SW coin? If the trading/exchange of SW shows no improvement, then you need to create a decision on selling it if you don't want to trapped on SW coin. The possibilities is that the SW coin may drop tremendously. You have also to check the order books for SW coin of you think it is active then wait. There are risks on holding it and one of it is the great price dip.

My goodness! Do not expect that it will multiply in price even after long years of waiting. If I were you, better sell them as soon as possible or if you have tracked its movement already, wait for the value to rise a little before dumping them finally. Skyway, right from the start, has been accused of being a scam. Even the Skyway company itself, which has been a working company, issued a statement denying any involvement with the project or ICO. 

Of course this is a big mistake. If you know that it has the potential to return to the previous price you hold it first. But if you do not really want to sell it, then you will not be able to reach zero value. There are plenty of other Altcoins and when you're looking at it you'll definitely double or triple back to you.

I know nothing about Sky Way Coin, but if there are serious problems with it, the odds are very much against it surviving.  My general take on such situations is that if I have something left of my investment, it's better to get out.  If I've lost just about everything and the further loss if it goes to zero is minimal, I might just hold onto it, hoping that someday it will either recover somehow, or that it will at least get pumped.

Whatever you do, here's one piece of advice: make sure that you contemplate this loss and how you got there.  Stare it in the face.  Think through your experience with this investment, and come to terms with the mistake you made.  It will be uncomfortable; it will be painful.  But if you accept that you made a mistake and find peace, you are much less likely to make the same mistake again.  If you try to ignore it, play down it's importance, or blame someone/something else, you're much more likely to repeat it.

Bought it at yobit
.00000510btc  then it crashes alot :(

Thanks A lot, yah I have been writing it on my journal yesterday To painful :(

No Research At All Such Slap On My Face

Leave it where you bought with a sell order in place. More often than not some nutter will give random coins a pump for the hell of it. If you bought it knowing nothing then the chances are someone else will too eventually.

Hese shitcoins don't usually have a very good future and once you've been tricked into buying, there's pretty much no remedy. Sell it at whatever its currently worth and learn your lessons. Or if it can be used for dice then gamble with it

First, hold it until the price comes up again. But you must have a good analyze before doing this because patience is the key. Second, sell all and replace become another coin or currency. You can do this for safety not for taking profit. There's another way again if we trap with shit coin but most of us will face it, like or not. That's way keep practice will give you valuable experience to take right coin. Have a nice day and good luck.

Well I think that holding is what we can only do when we get trap on a shit coin.  We can't make the market price go up even if it is what we want to do.  The volatility of the  coins are really unpredictable but sometimes there is a coin or some coins that no one seems to care or to be interested in investing. What we can do is juat hold that coin and wait even if it feels like it is never going to rise.

i am never heard about that coins, is it a new coins? I think if its a new coins, you need to careful when you want to buy because nobody knows how worth the coins is. and now if your getting trap in that coins, then I think you need to watch in coinmarketcap, how much the volume and if its not work like what you want, I think you can cut loss that coins and its better to search another coins to buy. there is many good coins that you can buy and the price is not expensive too so you invest your money to that coins.

It is a very good strategy. You need to observe the trend which is being followed by most of the owners who are having that coin in their pockets. If you think that the market price will rise again, only then go for holding for that coin.

Otherwise, there is no point of holding that coin. In fact go for selling of that coin as early as possible to avoid any further loss. Think well before investing in any kind of coin.

That may productive in some coins but for most of them, you can’t blindly trust anyone. If you invested on some shit coin and then by any source, you are getting to know it is not profitable, then holding is not the solution for this problem.

What if you hold a shit coin, thinking it may go up, and then next day you see that shit coin is just disappeared for such a bad performance. What will happen then?

prevention is always better than cure!

altcoins don't turn into in a day. they are either shit already and have a low volume and a dropping price, or they are shit already and have a high volume and are getting pumped.
you choose the second one meaning those shitcoins that are getting pumped and enjoy the profit. if you choose the first one which is already falling or choose the second one after the pump was over it means you are stuck.

you should try to choose wisely first then think of unexpected incidents like the coin tanking  despite your speculation.

Prevention is always better than cure so never fall in line to put your money in a shitcoin unless you're very sure it will make impact in the near future. Having been in this situation myself, I would suggest to sell all your shitcoin holdings for the highest possible price as all of them are only going one way, downwards. Of course you will end up with a loss but at least salvaging whatever you can is better than letting it fall to a valueless point.

If that things happen to me,will accept the facts that the reality,and everytime happen in bitcoin world have a risk.you cannot always get good profit or earning of your investment.theres possibilities that if you hold that coin in future the value will go higher  but you need a timing of exchange that rate to gain  a good profit in times of trading.

You are trapped you are trapped. In every trading decision there is always the chance of making mistake at one point or the other. I have my own experience to and you don't expect to be at all times make the right decision. In my own case what I am going to do is to wait a few more days to see how things will turn out if its still the same, I am dumping count my losses, take it as a lesson and move on. The main reason being that as an individual, you can't solely determine the market direction.

First of all, i would like to advice you not to put your money in some shit coin as safety of the principle amount you are investing should be your first priority . Always do proper research and only then, you should invest your money.
If you have already invested your money in a shit coin and the price has fallen, i would recommend you to hold on to your coins. You should never trade if the loss is certain. Hold your coins for some time and wait for the price to go up so that you are able to earn profits.
Patience will really be the key if you are already trapped.

I already go through with this a lot of times because i think that the shit coins or the low volume coins are the best type of coins to invest or to put our money because they are cheap and they can easily get pump by the other people but 70% of my shit coin trades just get me into being trapped and i just accept the fact that i lose money and sell it.

THIS!!
I think it is the best solution and this is usually what I do the I'll wait for the miracle day to get the coin get pumped. If the miracle day is not coming then I will still keep till unlimited time. There is still always a hope for any coins to be pumped by other people or by the dev of the coins.

It will really depend on you if you will hold it and wait a little longer or just sell it. It would all depend on you on how much loss you can afford.

I think you should sell them and find others coins to invest. There are many potential coins ETH, Storj, Stellar,...or new tokens such as Livestars, Hydrominer, Wepower,....

I agree with the getting rid of if he knows it is a shit coin but trying again ?
That is like moving from frying pan and trying to get into the fire, then what is the point of selling in the first place ?

Low volume coin are usually just good for pumps which is normally organized by some group of people and some people even get burnt in the process, they have no life, no chance of growing, no chance of survival and should never be held or traded in the first place and I hope OP has learnt his lessons. Best is to sell and find a better trade to get into now.

Shit happens. And whenever it happens we should find a way not to make it stink uncontrollably. If one mistakenly buys into a shitcoin, there are two things to do. It is either you keep or sell off at a lose. For instance I have been holding shitty doges for some months now and I find it more worthless selling them off because they are already worth less. I am keeping and hoping something sets the doges on bull some day, just a wishful thought anyway.

A whole year is really a very long time to hold a coin and not everyone have that luxury when I know I could have sold it a longer time ago and bought into a much more better coin which would have given me the profit back quicker and even better. That shows how shitty the cloak coin is and definitely must be experiencing the same fate now ;)

Oh, I can see it has been pumped recently. But nevertheless, that was a huge wait mate! Your level of patience is out of this world.

I am pretty sure even the devs would have dropped their coins a long time ago when they realized their project is shitty. What do you expect from the extremely low volume. Apparently, as good as dead and only those who were gullible enough to hold it are the ones suffering the consequences right now.

It is best the OP sells it now that there is still a chance before it becomes extremely worthless. Now, that so many prospectus projects are at dips, he can just buy and rely on them giving him some profit eventually.

There's your problem then. Why did you even buy the coin, because it's cheap? And you said what, past days? Seriously you're already asking for profit or at least an increase in price in just days. If you don't have the patience then trading might not be for you.

Like you said here this is really depending on the person who is making all the things according to plan. There may be selling which can suit you or you can go for holding for better results. When you are coming in this world, and you are taking a proper start, believe me that is the supreme time for you to make your plans. How, when, what, where these all should be covered well.

Yes, Is the project behind the coin a good project? Is the team communicating and answering to people arguing about the price? If so, hold: everything in crypto is cyclic and we hopefully will see a new ALT season soon.
If the project is a scam, I would try to exit and limit losses.

this is the situation where anyone can experience so being trap on that coin the best thing that you can do is to hold that nothing can ever do because that was a shit coin so if there is a miracle it may pump but when there is no and that was totally shit coin hold it until it dump. sorry for that but who knows if may that pump, accept that anyone of us here can experience that kind of scenario even me ive experience that. we should accept our loss sometimes.

Yeah, I'm sorry things didn't work out for you (I can empathize, having been in similar situations before), but I'm glad to see that you're writing about it.  Anyone who trades for a while will make their share of painful mistakes.  Facing them builds strength and character, and will hopefully better prepare you for future trading (as well as other things in life).

Some time we take wrong decision and it is not that much easy to come out of it when ever we trapped our self in a low volume coin we should take the decision immediately other wise what ever we invested will be lost and nothing going to be in our hand for the rest. Always if we did mistake unknowingly we should not windup in the same to come out of it so we have manage our self some how and take the decision to come out and try with the best this is the wise decision I might take.

You can definitely hold it for sometime because sometimes what whales do is promote a shitcoin, increase it's price artificially and then suddenly dump it and the future of the coin is nothing else than it belonging to a graveyard. So you can wait for either that to happen or you can wait for the price to increase naturally or just sell it at a loss.

Well, you said it yourself in your topic… It is a shit coin and I really wonder why you would allow yourself to get trapped in a shitcoin in the first place. Since it is a low volume and you feel it might still get a chance of being pumped in the future which I doubt, then you can decide to hold it or if you feel it has the possibility of growing in the future, you can still hold it.
However, if you know there is no way which I am sure you already do, you better sell and buy a more prospectful coin now at the dip and sell when it gets pumped. At least with that, you may realise some of your profit back.

I think you need to hold every coins if it is shitcoin or has a low value. But if this will be a forever shitcoin then we can't never do anything but only to hold this and keep it to your wallet. You shitcoin will be your lucky charm to earn a lot of coins.

At first I think you should make some research about that coin to find out that if it has any potential to increase or not then you can cut your loss if there are nothing news about the coin you're holding. There are some new traders often afraid when the coin they're holding dump then they sold it all to cut the loss without doing any research and now they're feeling regret about their decision cause the price of that coin increase very high after that :))

I am currently trapped on one and I don't even know what to do about it even after I move it from once exchange to another, it just seems people all over the globe are just not interested in trading this particular coin. What really happened was that I bought a little then but the price increase rapidly forgeting that there are some factors that could be responsible for that other than the forces of demand and supply, I then went in and not too long from that, a lot of dumping started happening that it got to the point that even with several sell order, there is no buy order.

I think when the mistake is already made, then there is nothing to be done to undo it all that is needed is the lesson learnt from it which is something I wont forget never to be ruled by timing, do your due diligence before investing in any coin.

Exactly when there are chances for you coming ahead then it is only you who can either chose number one or two or so. Like if you say, you are at a point when you have to choose between selling and holding. Then you will reinvestigate your strategy and find out what will be more suitable for you in the end regarding results. Be wise in your strategy den plans that will lead you to an amazing end.

you dont have choice but tou need to hold and wait to raise your coin.. before buying a coin just read there whitepaper and rooad map to avoid for buying a shitcoin..

well maybe op get that sh*tcoin on an airdrop or on a bounty campaign but yeah the only thing that he can do is to hold it like a pro and sell it until the time comes that the coin will pump or have a sudden increase on the price or he'd  better sell and trade if he dont have a patience to wait then just move on to another valuable and worth it coins like etherium,waves, omg, neo , etc..  altcoins that is on top 10 will be a good choice.

Exactly because you're too late now to back off. I believe that when you bought that coin there's something inside you that somehow you believe in that coin so now when something came up that you didn't like you feel that it's a shitcoin. Better you hold to that coin and just wait to pump, we can't really say if it will be forever shitcoin as we all know that crytocurrency is unpredictable game. And surely, you learned one lesson.

Shitcoins or not all coins that been dump will be ideal to be holded on since if we can't do that then it will be sorry lose for us, But if he can you can risk and accept the lose then be it since this one can teach us a lesson and maybe we can be better on our next trade here.

just leave them and save up..you never know in what period is this coin will cost almost the same as bitcoin))

Although these new altcoins/tokens have only 2 innovative concepts, the important thing, in my opinion, is how these coins should be used and how people should cooperate so that the project will be successful. There's actually nothing we can do on how these altcoins are made and from what are they designed, but we can do something to help the devs attain the objectives of their projects.

Yes, they have almost the same whitepapers, roadmaps, names, etc. But the thing here is where, when, and how these coins should be use. Anyways, I can't blame the people who sell these coins immediately after they receive their coins because we're actually all about the MONEY here, but don't they realized that selling these coins at their lowest price is not good to both the project itself and the other people who holds it?

If that's the case, there's really no other choice but to hold it and wait for a miracle that the price of that coin will rise up sooner or later. That's still possible, but not probable.

If there is no chance for that coin to have a good price in the future or the project is abandoned, i will choose to let it go and move on. Shit coin like airdrop thing is usually ended like that. Lesson learned though, don't hold a coin that have no future on it. There are many new coins everyday and just pick it.

The decision is your if you are gonna save it or not. If you believe it will not come up good then learn from it and move on life must go on but If you believe it is good then save it as an asset.

There are a ton of coins that is made solely for yobit which is simply used to scam people their money,just to create a hype in their chat session and trapping new users like you as if it is the next big thing and will start their fake pump and once they trap enough users they will start their dump taking away your money and you will be stuck,i am still not sure whether the site itself is behind all these fake coins but one thing is sure,they accept everyone,so be careful when you invest in crypto ,make sure that you invest in something good rather than just the hype.If i am stuck i will keep that and monitor the coin and if by luck if there is any movement in it sell it off completely ,usually those coins wont move as they will come up with another coin,that is what i have seen.

For me simply I will wait for rise so that I can achieve little bit and if it will not go up I will simply take out the remaining part of my investment from it and mark this coin as red and I will simply tell others not to invest into this coin because this coin is useless and I will go for the best coin that will overcome my past loss and give me big and for this thing bitcoin is best so far and I will surely handle that situation wisely.

Well in the first place if you do analyze the market well, then this thing should not happen. Trading is risky so make your study first before you make action, i suggest if you loose not much money their then sell it right away, there is no reason to hold that coin for long term, Instead try to buy more valuable altcoins or btc than that.

Easier said than done. Especially if you've already bought one. Most shitcoins die away along with your money so as much as holding would be a good idea, if it seems that there's no chance for that coin to recover, save your losses. Though this can be avoided through proper preparation

I wouldn't say that analysis can prevent such things from happening ever.  Certainly doing some in-depth research before investing in a coin will save you from most scams and/or coins that simply aren't going to be worth anything.  But there are always going to be people who put a lot of effort into making their scam coin look good.  After all, the payoff could easily be in the millions.

I am not familiar with that coin. But I say I am in the current situation. I have a coin and I am holding it for almost four months.im It pumps two times but in that time I am so very in school since I am a student and I set my study priority. So I missed it. Now the I am nit busy its price goes down and down and down. I feel sad at all. I do not know if I am doing the right now, I still wait for the another pump I check the price every day but in the market it is still red. I wonder if it will recover or not. If tes how? When?. It is now 0.4 dollar from its 0.8$ . I am thinking of setting its value on the exchanger but I do not how much will I set it.

I didnt hear out about that Skyway coin and i havent check it yet which i cant really tell or say a thing regarding on its worth to be hold or not for long term but rest assured and common thing on trading altcoin is that we would really be trapped if we didnt able to go out on the right time and we did buy not in the right time.This is common but on the thing you do said that it has a low volume coin then its possible for it to be pumped but depending if theres a whale would really got interested into the coin.

That's true it's really hard to let go of that losses specially when you spend too much on that coin but for me if you can afford to loose that money then sell it now, don't wait for that coin to go up instead look for other opportunities out their with a good coin this time. Learn from that mistake and you will surely get back that losses.

Usually when I stuck with shitcoin no matter what coin it is, I will sell it when there are no more sign of improvement, it is better to get a little than lost it all, but I seldom buy random coin which is not popular, because I know unfamous alt coin price will never recovered once it dropped down

I think we should cut some of our loses, either we cut some on the breakeven or when it starts to gained some profits. But you should also keep some reality check incase the coin become unworthy and you should always ready to cut your loses incase you need some cash from your investment  ;D

If you recognize it's trap or scam coin you should sell all that coins in cheap but if it has long term strategy you keep it for the future.

lol, this is a lesson for you. In my view, you should cut loss immediately, and find other coins to invest. If you still wait, no one can be sure you will lose all your money or not.

This is a good advice and guide for a someone like me who is still starting to buy altcoins. It's difficult to see and know if the project is legite and predict its success but if you do angood research and takes time to read for feed backs then possible loss will be minimize.

i have been experience just like OP said several years ago when mintpal exchange still exist i bought the coin with cheap price at 5 satoshi and untill hoping this coin rise up again then i'm watching the chart everyday but sadly this is never happened that even this coin has dropped to 1 satoshi and eventually my investment being the dust and i think before your regretted your decission then cuting your losses is the best option because there is no guarantee if there is altcoin which is the price dropped and it will be pumped immediately and i have to say trading is unpredictable

the best thing you can do is to hold that coin and pray that that its value can pump soon and of course it can take a long time for that to happen  because all of the coins are built that way espcially those tokens that is given on the airdrops. sometimes it can rise if its listed on some popular exchanges like hitbtc and coinmarketcap,

Sorry to hear that.  I applaud you for prioritizing your schoolwork.  You don't want to give up the important things in life for crypto trading.  In the future, though, I would suggest that you only invest in coins when you have time to follow them closely, at least if you're looking for a short-term profit.  If you're in it for the long haul, then that's fine.  But any time you're trying to make a quick profit, you need to be able to dedicate a lot of time to watching the charts.  I hope everything works out for you.

Not just some , but the whole money invested! As long as you can confirm that it was completely a sh*t coin one.
Take it as your best lesson to not do it again in the future and moving on soon.
I personally never want to choose a cryptocurrency except the top 25 on the marketcap. That is my little secret.

If you ever get into such kind of situation when you find yourself falling in such kind of trap, then the only thing which can help you in getting out of this trap is to sell your coins and that too as early as possible. Holding of such kind of coins will not give you anything fruitful except this that you will be having more loss in the future. So it is better to sell those coins and invest in some good coin like that of bitcoin.

Sell immediately and find another to invest. You have to know that the more you wait, the more you lose all your money

Waiting for a rise totally depends on the coin you are holding and the scenario or the event happening that is causing the crash. There are sometimes then you just know the coin is going to experience a crazier dip which sounds normal to dump at the slightest chance possible and look for a better coin at a huge dip as well to buy in, knowing the chances of getting your profit back is guaranteed and not ending up getting hooked on a coin that would take like forever to ever get you that profit back.

There are really sometimes that after analyzing the market, shits still do happen.

Like what happened recently when I was holding a shitcoin after seeing some pump-ish kind of activity, not long after then, everyone started dumping their alts very early before the fork, which I just had to stop the loss at the point I was comfortable and then looked for a better alt to put my money into when the dips got stabilize.

You just need to have a strategy in situations like that and always plan out the right way to get back what you have lost.

Hold on to it.  There is always a possibility of a SHIT coin to be valuable.  Everything in this world are always subject to CHANGE for a CHANCE.

I would trade it back to Bitcoin as soon as possible.

Personaly I don't buy low volume coin for trading or long term holding.

You will observe them going up and down.

If you have one you aren't sure about lock an acceptable sell price and wait. Study it some more

Watch yourself also, learn about your own greed.

One of the lessons I learned long ago playing Las Vegas casinos; walk away. Don't chase bad money.

I do play coin like DASH, NEO, XMR, LTC, ZEC, but only small amounts.

I'm watching others, waiting learning.
There is a bunch going on!

That’s why it is recommended to study well about the coin before making this decision of investing your money in that coin. If there comes a situation that you find yourself in a trap of low volume coin, then it is better to sell those coins and that too as early as possible. There is no point of keeping those coins as this will only result in more loss of money. Sell that coin and invest in some profitable coin.

youre right actualy when u 1st  enter in the crypto investment u need to expected will dump it later or pump it later... u needed to wait a good selling price... this is a longterm way...keep it  your coin maybe thats is your future.

That what you did is a lesson of yours and charge as experience of buying coin. You have no option but to hold it and dont do what you did already, try to research that kind of coin you want to buy so that you are far from scam coins

if you get stuck in a shit coin you should take a few moments and find out more about the future of the coin, and make the best decision for you.

Exactly you don’t have to stick with one of the shit coins. Once you were unlucky that you had bought it and now you see this is not working properly so better is to sell it. Be read for the loss if you are getting by selling it. But use this loss and learn what the conditions are and how to deal with them. Many people are saying to keep with them, I think that will be feasible furthermore.

Isn't that why we even call it a shit coin in the first place.
I usually do not tamper with shitcoins or hold them for long and even if I will have to buy, I only do when they are at huge dips. Anything that would affect them at that huge dips and would make them to keep going lower is something terrible which is why I don't joke at all with my stop loss on those coin which is what I believe everyone should always do when holding a shitcoin to be able to manage whatever comes after.

The best way is to sell it as quickly as possible. This is because the low valued coin has no demand in the exchange marks and could not possibly earn many shares so that the price would actually rise. So the customers for such coins don’t belong to the developed world indeed because he people there are mostly looking for the costly currencies and low valued coins such as BCTH are to be sold with half of the original price at the foreign exchanges so that you could at least earn something instead of nothing.

There you go, someone who calls it out. On the very definition of shitcoin, you're taking little more than a gamble if you're buying up bags of shitcoin in the hopes of turning unrealistic and high profits.

I'm not totally averse to the idea of owning some shitcoins myself, but I treat them exactly as the gamble they are, with any spare change I put into them considered as gambling money I'm prepared to lose.

Granted, if I take stock of the total I've gambled on shitcoins, I probably lost over a hundred dollars. Nothing compared to what I've lost in actual gambling though... And these shitbags are all still trading, so you never know, haha.

You don't have to stick, but if you somehow bought it, you need to deal with it. Two options come up. You will store them in long run, or you will instantly sell them to buy another promising coin. Both are hard decissions.

Everyday many such cases can be seen where the other pontential altcoins turn out to be scams. Many times this has led to heavy losses to the investors.
They come up with the most tempting offers and the future value but at the end they turn out to be scam
One can hold such coins till whatever time they can or cal also dump or report about it to others so that they dont fall into the trap.

While this guarantees that you will get out as soon as it hits a desired priced, there's the problem of leaving your coins in some exchange. If it's a shitcoin, and it's still listed, chances are this coin is listed in one of these dodgy altcoin exchanges. I wouldn't feel safe leaving any relevant amounts of money in say, Livecoin.net, cryptopia, or any of the other more obscure exchanges.

I dream everyday with decentralized exchanges so you can keep sell orders indefinitely and safely. Having to think about if it's worth the risk with centralized changes sucks.

Even they are shitcoins leaving them behind on exchanges would really give you unsual feeling since those are money after all and same as you said centralized changes do really sucks and the time that they are delisting this is the time you would really panic when to store those coins you have bought which you are just waiting for it to get pumped.Usually i do on this stuff when i was trapped i do normally left it behind and dont cut loses specially when i put already huge sums of money. Shit do happens on trading and get to live with it for sometime. Win some or Lose some.

If the shit coin has volume, I will get out as soon as possible. If the coin is low volume, I will create some activities around the coin for volume and then get out. I wouldn't mind my loss, bacause loss is part of the experience. And experience can not be bought but money can be earned again and again!

It happened to me when i had some bitcoin cash on my exchange, i did not know what to do because i was stuck with those coins, they are useless, and maybe they have a lot of volume but they will never have the same volume as bitcoin.
I lost more than $300 because of that shitty trade, but i learned that i will never try to do those kind of scalping trades in order to take profit from it.
But yes, all the ico's tokens are having this kind of issue with those people who want to sell the coins.

I think the best option is cut the loss. But before you sold them out you need to check the news about that coin to see anything news happened and will it affect to the coin price or not. There are a lot of trash coin and people trapped into it everyday, some people cut the loss right after that but some other keep holding and wait until the price increase back :)

I think we will finally get decentralized exchanges next year, maybe 2019... or possibly 2020 as of totally late. They will work on the lightning network, so you will be able to make buy and sell orders without actually holding your coin outside of your wallet, they will be like smart contracts of sorts. It's hard to explain but the point is the future is great for bitcoin and crypto, since we will cut the middleman of scammers (all centralized exchanges will eventually fail). Im now a bit worried about what could happen with Poloniex and Bitfinex if the Tether scam is real.

Recently, a lot of such projects that seemed very promising and had hopes for good potential. In general, But today their coins are almost worthless and even investors are losing their money, because even fraudulent approaches to the creation of the project can be traced. Of course, it's very difficult to single out such projects, but that nemesis needs to work on studying information in this area.

it is hard to know if that coin may become a shit coin in the future there is no assurance so better to sell it than take it for a long time if you may know that in the future this may become one of the shit coin.

Well if you think you are trapbwith shit coin then its better you get out as early as you can before you will all your money and just invest it to another coin that has a big potential to cover up your losses.

Exactly. You already know that it is a shitcoin. Why bother holding it? It is best to cut your losses and just sell it. Invest in another coin where you can recover back what you've lost on that shitcoin.

Some time people make a mistake, i think it is too much important to have good study before investing money in any altcoin.

Generally I'm of the opinion that I might as well hold them in the hope that one day they have some worth, for example I am stuck holding some ATS which is regarded as being a scam coin, it is now completely worthless pretty much. I could sell my whole holding for just a couple dollars or I could wait and maybe one day it'll be worth something, for me those 2 dollars aren't going to make a difference.

Yes it is important to have a good study before investing because you are aware if this coin can be a good one or a bad one that can cause losses to your capital. In shitcoins we should cut our losses and try to find a coin that have a big possibility to pump so that you are able to get on what you are loss and change it to gaining but sometimes shitcoins can be profitable if we find a good point to enter on which can provide us a big profit and not holding it for a longtime.

I think must not hold too much altcoin (proportionally)
If the trend of the coin is only going lower and there doesn't seem to be active developments from the dev, then maybe it's better to cut loss

It is very difficult to trap at shit coins, some has regrets and cry but it is all done.
So If you have the case like that better say good bye and better luck next time.

Haha that's true guys. We have all experience that in trading world being trap by those shit is so painful for me. After I trusted that coin they turn me so disappointed. So, I learned something now that if that case happen again atleast I have some coins that are more valuable than that to be trust again. Trading is about losing and winning.

Everyone has his own way of looking up at the things but the fact is all the coins which are there in the world of crypto currency are highly volatile in nature. Moreover, patience is the only thing which can save us from being doomed. So I think it is better to wait for some period of time. It is because of the reason that we never know about the market price in the coming moment. Hold your coins and remain patient.

That's right. But if you've invested in other coins, maybe you've learned it here. Before you invest, first read the white paper or their road map to find out if its fundamentals are strong, see also how developers follow the roadmap correctly.

the only thing I do when I'm trapped in a low-volume shit coin or coin is to just hold it for a long time and wait for a few small pumps to sell it gradually.

If you know a coin can be pumped anytime and you will not always be around, there is what they call selling order which you can set down for a reasonable profit and will auto sell itself once there is someone willing to buy at that price. You do not have to stay behind the monitor every time before you sell, otherwise you will always end up missing those precious moments. Also, don't be too greedy looking for the best value, set something reasonable that can never miss.

You should advertise that coin, nobody will know about that coin if there is no advertisement, its so hard dude. Try another way

Just sell it, it might fall even further.

yes exactly being patient is a good attitude of a trader i have some experience that the coins goes dump and turning to like shit coin but and some are loose hope then suddenly after a week a month this coin started to rise again then now it is on a good condition so patience sometimes is a must.

First, I would like to let you know that this all depends on the market cap, when a coin is not getting or attracting investors then it won’t be rising in price rate, it will remain low at price rate. So as for what I will do if I’m trapped in a shit coin– what I will do is to check online for a legit site or exchanger that buys the coin, if there is, then I will sell to them.

Next is to check if the exchangers running the shit coin allows withdrawal of money that was invested, if they do, then I withdraw. Lastly, this might be a bad one, but I will look for someone I would trick into buying it from me, lol.

The best thing for every investor to do is to watch the kind of coin they hold or the project behind each coin.
The problem is that people today are looking for quantity instead of quality and end up holding a shit coin and hoping it gets pumped so they can get a lot of profit not knowing that the possibility of the coin dying at any time is even much more than getting anything from it.

Anyone who is trapped on a shit coin should just accept their fate and move on unless you are lucky enough to see who to take over from you.

No clue about Skyway coin but I have too many worthless coins which I can't even sell as their price is below the eth gas fee. The coins get dumped badly on etherdelta and when once I used to like etherdelta as it's an easy exchange to trade altcoins immediately after the sale, now I feel it's too bad for a coin's future to be listed on etherdelta when a coin gets sold 10 times lesser than it's actual value. Most users there only believe in dumping the coins for the least amount.