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Bounty projects are not in good shape as it used to be in late 2017, so it is difficult to make living out of bounties only. Even if someone join many projects, he/she may not earn good profit. Bounty projects currently either delaying payment or paying very less amount and the worst thing is price is many folds down after hitting exchange. I just remember golden days of bounties when I used to get a good amount like $100 even sometime $3000 worth tokens out of these projects, once I received $12000 worth of tokens out of a bounty project for 2 weeks work only. Let hope these golden days will be back.
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When recession approaches every product value goes down, retailers are bound to sell their holding at a low price so I do not think BTC investment can save anyone from recession. Fiat currency may be savior in recession times. Bitcoin is very volatile in nature so its a bit difficult to predict its behaviour. It may react opposite to anyone expectations and start growing but if we talk about risk then Bitcoin may not be the right investment option in recession period.
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I do not think altcoins have reached their dead end. There are many good projects which are still under development. If we talk about BTC, it took around 7-8 years to reach at this stage then how can we expect altcoins to reach at heights within few months. In late 2017 there as pump in price of almost all the coins but the whole market crashed in 2018. Not BTC has recovered almost 70% but altcoins have not recovered much. Even price of new launched project coins are decreasing after coming to an exchange. Most of the investors have put their amount into BTC I believe, there will be inflow of funds in altcoins too. Lets wait altcoins will recover too.
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yes for the problem of disappointment of course all bounty hunters feel it, but I am more concerned with investors because they are actually 2x more disadvantage compared to hunters for example project 2017/2018 many of them experience the destruction of value and the worst is almost all the bounties that I follow experience this. I remember having a token with a price of $ 2-5 / Token now the price of the token is only less than $ 0.1, and I sell them when approaching $ 2 in the past and imagine there are investors who buy this tokens and don't do cutloss  I agreed, investors are more hammered than bounty hunters with failed projects. There is one project( not disclosing name ) whose token was sold at $.03 during IEO and now trading at 1 sats,just think about the investors who bought this coin at $.03. Although this project has good product and backed by dedicated team even they distributed bounties genuinely but price is drastically down, it may give profit in future but who knows when. I think the over all environment for crypto project is not good currently. It is very important to regain investor's faith in crypto projects. |
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This is story of almost every bounty hunter out here. Since 2018 there is nothing to juice out from bounty campaigns. Most of the projects either did not pay off bounty hunters or just delaying rewards. Even the projects which paid off bounties and listed on exchanges, price of those coins depreciated many folds. There may a very less number of successful projects ( I hardly know any of these projects). Since July 2018 I have only received $100 rewards out of all the bounty campaigns I joined. I am hoping to get $400 in total from two of campaigns completed recently but exact reward distribution is not announced yet. Lets hope the good time comes again.
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The law of banning cryptocurrency in India is not implemented yet, it has to be passed from both houses of Parliament inorder to get implemented. Banning crytocurrencies use is not easy due to its decentralize nature. India is a big country in terms of population and cryptocurrency users in India may be more than the total population of may countries. For banning people to use cryptocurrencies in India Govt has to deploy a massive manpower leaving all other tasks aside which is practically not possible. I hope Govt will consider some middle path instead of declaring a long term imprisonment for using cryptocurrencies.
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No doubt if employer and freelancers both agree Bitcoin may a popular method for remuneration for the work done. Traditional methods like Paypal is still widely used but if we talk about transferring money abroad through Paypal, it is much costly. A freelancer does not want to give high transaction free out of his labour. On the other hand Bitcoin is very volatile in nature so fix remuneration in BTC from employer may not be much rewarding in bear market, if an employer change the amount of remuneration with the increasing and decreasing value of BTC, it may be widely accepted payment method for freelancing work.
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It can't be said that BTC will completely replace the banking system. Bitcoin has a long way to go in terms of its faith in investor due to volatile nature. Tradition banking has wide range of products which BTC may not offer but yes good percentage of traditional banking business may be taken over by BTC like making paying through crypto at retail points, money transfer nationally and internationally or as an investment. If taken in a positive way banking system has much more the learn and develop from BTC.
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I believe good projects are still there with nice ideas and dedicated team. The main problem I realized is investors have lost their confidence in crypto market due to recent crash in 2018, many projects turned scams and coin value of most of the projects depreciated many folds. Even good projects are not able to retain values of their coins in current scenario.This market needs lot of inflow of money in the market and that should come by time. This is the right time to hold coins of some good projects, I hope the golden days of crypto will be back soon.
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Looking with the charts few months back , lots of people is crying that the price is low
on crypto's little that they know its not that the coins will disappear, the reality is that
people before ignore the coins that are just being distributed for free, because of some mentality that
oh we don't need this shit coins, its garbage with no idea that it will be the biggest thing that will change a person's lives
they ignore it, now they are to late , the price before is very low now the price hits like 50% up
what do you think guys whats your opinion?
are they just late? or the coin is dying?
my answer is the coins is just getting started only the beginning
I can hardly make out the sentences in your post but I think I understand where you are driving at and a lot of posts have been made about it in this forum. It's all good to preach about positivity in crypto but the truth is that a lot of shitcoins and shit projects need to die for crypto to stabilize. Too much money is being lost investing in shitty projects and that is why we are where we are today. I agree to your point shitcoins must die for cryptomarket to get stabilized. Not all coins are worth holding, there are many project which launch their coin and then there is no development such coins are useless and shall never appreciate but it is also true that most of the people investing in financial market are very impatient, they do not give any good coin enough time to grow. One should read the project background before investing into any crypto coin and should give it some time to develop but if amount is invested in useless project then there will not be any appreciation in value of that coin. |
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Bounty hunters are not killers of ICO rather they are building blocks of an ICO. Bounty hunters sometimes promote the project even when ICO has ended just to appreciate price. As may people here have mentioned that funds allocated to bounty hunters is 5% or 10% or its nearby figure and many of bounty hunters hold their tokens for a long time so its basically not bounty hunters who are responsible for price dump of any token. I think its market manipulation by some big giants who buy tokens at lower price and sell it at small margin. Once price starts falling they keep on buying and selling tokens with a small profit.
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In any financial market " Money saved is money earned". For some months of investing if you are even able to survive in the market then think you have earned a fair amount. Be it crypto market, forex market or any other financial market every investor should invest amount with a calculated risk, taking big risk always lead to burning of account nothing else.
I appreciate thread starter effort to make people aware of market risks. I hope everyone read it and implement into their real time trading/investment.
Some core points which needs to be followed in financial markets.
1. Never invest the money which you cannot afford to lose.
2. Always trade without SL, market is always there but if account is lost it will never come back.
3. Keep emotions, greed and fear aside while investing/trading.
Its all your hard earned money do not lose it.
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#Proof of Authentication
Campaigns Applied for: Signature,Twitter and Facebook.
Bitcointalk Username: pundit
Telegram Username: @e_nicks
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Everyone here is in the same situation,everyone says it happens with them, whenever they buy something it immediately goes down. To overcome this situation everyone must know that market moves in a zigzag manner. There are always retacement in an uptrend or in a downtrend, one must wait for the right opportunity to trigger the trade.
First of all recolonize the trend by looking at HH HL or LL LH (If you do not know about it just go to babypips and learn some basics). If its an uptrend then there must of HH and HL do not buy anything at peak, wait for the price to comedown a bit and form HL and vice versa in downtrend. Try to draw trend lines, practice it a bit and you will realize that trade you are taking does not always go opposite to your action.
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No doubt buyback is a good option to stabilize token price. Most of the dumpers sell their token for little profit and moveon but buy back policy enables them to hold their tokens and does not courage dumpers to dump their tokens fast. Another good idea to stable token price is "burning of tokens" at any specific time. I am holding a token called HBRS, although price of token is badly affected due to dumping but still I believe price will come back to its original ICO price as they have policy of burning a specific amount of tokens for every new user who install their app. It may take one year or more but such good policies will surely stabilizes token price someday.
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Indian govt is in powerful hands since 2014 and India has made very vast diplomatic relations with most powerful countries in the world . Current Indian govt is focusing on overall development of the country including digitization of payment systems. I know there is a bill against cryptocurrency which will be presented in parliament in Dec2019 positively but it is required to get passed from both the houses of Parliament. Before implementation of any bill there is always a discussion in Parliament and if both the houses agree then only a bill can be implemented. Lets us wait and see what is there for cryptocurrencies in India, I hope cryptocurrencies will not be completely banned in India.
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Note: This is not about how to identify good coins to HODL
This is about how you can be a good long term holder
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
2. Not all altcoins are good for long term holding
Some altcoins are too weak to have better value overtime,these coins only add value to price once in a blue moon,WHY?because the power of demand is too low and they have no working product,i belief that working product is what makes a coin have many more investors
3.HODL Only Altcoins With Real Use Case
There are different categories of coins with use cases,many use case are weak use case,for example using fashion designer to back a token is a weak use case to me because it means you can only use the token to buy the designer wears and many will call this a real use case? no it wont do very well.
Make sure that the real use case of every altcoins you hold will be very reasonable,the products backing them up must be something that is different and will catch the eye of investors,the usefulness must be outstanding .
4. Stay Updated Always
Opportunity comes but once as many know it,so always stay updated about crypto,read crypto news online and keep tracks on your altcoins so that you wont miss future updated or even token swaps,some altcoins i hold have already switched to MainNet and im glad i dont missed the opportunity,you can use blockfolio app to track your altcoins.
Altcoin season is what many are waiting for,even new projects are waiting for altcoin season to return before they get listed on exchanges,im sure of one thing and that is good things dont come easily,today is bitcoin turn to reign and one day altcoins will have its day as well.
Once upon a time I was in deep debt and I came out of it because of cryptocurrencies, cryptocurrencies gave me good income in late 2017 and early 2018 but with the downtrend value of most altcoins I was holding went down, it made me realize notto rely on crypto product completely although my primary source of income was my salary. Holding cryptocurrencies should not be taken as full time income rather it should be taken as investment. If the amount is lost one should never regret. If it gives good profit than its a plus point. Any project need time to get developed, if someone is holding any coin, it should be given enough time to grow. One should keep accumulating altcoins by joining various promotional programmes like bounties, any of them may good profit with time. |
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Failures are the pillars of success. Every successful man had many failures in life before becoming successful. The way you decided to analyze your mistakes and came back to trading with plan is really impressive and more valuable than the amount you lost. I am in trading for more than 9 years, many times I increased my account to 500% and suddenly lost the whole account. I know the fact that I take risky trades which should not be done. Now like you I decided to learn from my mistake and will trade my account professionally, I hope will gain all back what I have lost. You whole story is really inspiring.
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Most of the govts and big financial institutions are opposing cryptocurrencies,it may be because crytocurrency being a big threat to centralize banking system which indirectly may be a thread to base currencies. Being decentralize in nature, it is difficult to track transactions of cryptocurrencies and once it is adopted by common people, power from the centralized institutions will slip which are ultimately controlled by govts. I think the increasing demand and popularity will force govts.to recognize cryptocurrencies.
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